The patient handling equipment market is projected to reach USD 12.6 billion by 2024 from USD 8.9 billion in 2019, at a CAGR of 7.2% during the forecast period. The growth of this market is largely driven by factors such as the rising geriatric population, high risk of injuries to caregivers during the manual handling of patients, and the implementation of regulations ensuring the safety of healthcare personnel during manual lifting processes. However, the persistent difficulties in handling bariatric patients are expected to limit market growth to a certain extent.
Based on type, the market is segmented into mobility devices, medical beds, bathroom & toilet assist equipment, patient transfer devices, and stretchers & transport chairs. In 2019, the patient transfer devices segment is expected to account for the largest share of the market. The large share of this segment can primarily be attributed to factors such as the increasing installation of ceiling lifts in hospitals and the growing adoption of patient lifts for bariatric patient handling.
Based on end user, the hospitals segment dominates the patient handling equipment market in 2019
Based on end user, the patient handling equipment market is segmented into hospitals, home care settings, and other end users (elderly care facilities, emergency medical services, long-term acute care centers, trauma centers, and nursing homes). The hospitals segment is expected to account for the largest share of the market. The large share of this segment is attributed to the growing patient population, increasing geriatric population, rising number of disabled people, increasing number of injuries caused during the patient handling process, and the increasing preference for patient handling equipment over manual handling in hospitals.
Arjo (Sweden) has a broad range of patient handling equipment, which ensures safe and comfortable patient handling. With its strong geographical presence, brand image, and wide distribution network, the company is expected to hold a significant position in the market. Approximately 44% of Arjo’s total sales attributed to its patient lift, slings, stretchers, and medical bed portfolio. The company’s main customers are private and public institutions, providing acute and long-term care.
Arjo has consistently focused on prioritizing product design and user-friendliness in the development of new and existing products in order to maintain its position in this market. In 2018, Arjo’s research and development costs amounted to USD 16.2 million, which corresponded to 1.7% of its sales. This has significantly helped the company in conducting customer-focused research and developing enhanced solutions to solve complex business challenges.
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