The Business Research Company’s Patient Handling Equipment Global Market Report 2021: COVID-19 Implications And Growth To 2030
LONDON, GREATER LONDON, UK, May 20, 2021 /EINPresswire.com/ — An increasing geriatric population profile of most countries contribute to the growth of the safe patient handling equipment market. The older population accounts for a higher percentage of hospital admissions owing to the high risk of acquiring chronic and other diseases, thereby generating a higher need for patient handling equipment. According to United Nations, Department of Economic and Social Affairs, 1 in 11 people in the world were over the age of 65 in 2019 and this number is expected to increase to 1 in 6 people by the end of 2050. Moreover, the number of people globally over the age of 65 is expected to increase from 703 million in 2019 (constituting 9% of the world population) to 1.5 billion by the end of 2050. Therefore, an increase in the size of the geriatric population is anticipated to boost the demand for the patient manual handling equipment market during the forecast period.
The patient handling equipment market consists of sales of patient handling equipment and related services by entities (organizations, sole traders and partnerships) that manufacture patient handling equipment. They are used for specific lifting, transfer and movement of patients. Patient handling equipment is an assistive device that helps home care and hospital settings for transferring patients between chairs, beds, and other places. The bariatric patient handling equipment market comes under this as well.
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The global patient handling equipment market is expected to grow from $14.23 billion in 2020 to $15.57 billion in 2021 at a compound annual growth rate (CAGR) of 9.4%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The patient handling equipment market is expected to reach $23.07 billion in 2025 at a CAGR of 10%.
Major players in the patient handling equipment market are ArjoHuntleigh Inc., Hill-Rom Holdings Inc., Invacare Corporation, Stryker Corporation, Drive Divilbiss Healthcare Inc., ETAC AB, Gf Health Products Inc., Guldmann, Inc., Handicare Group AB, and Joerns Healthcare LLC. The regions covered in the patient handling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The patient handling equipment market covered in this report is segmented by product type into wheelchairs, mobility scooters, medical beds, patient transfer equipment, others. The patient handling equipment market is also segmented by care type into critical care, fall prevention, bariatric care and by end-user into homecare, hospitals, biopharmaceutical and pharmaceutical companies, others.
Patient Handling Equipment Global Market Report 2021: COVID-19 Implications And Growth To 2030 is one of a series of new reports from The Business Research Company that provides patient handling equipment market overview, forecast patient handling equipment global market size and growth for the whole market, patient handling equipment global market segments, and geographies, patient handling equipment global market trends, patient handling equipment global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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