Patient Handling Devices Market Size, Share, Industry Trends and Forecast to 2030

Patient Handling Devices Market Size & CAGR in 2021

The global patient handling devices market had a market size of USD 10.5 billion in 2021, with a CAGR of 3.5%. This market is expected to reach USD 13.8 billion by 2028.

COVID-19 Impact on the Patient Handling Devices Market

The COVID-19 pandemic had a significant impact on the patient handling devices market. With the increasing number of patients requiring treatment and care, the demand for patient handling devices such as medical beds, wheelchairs, and stretchers increased exponentially. Healthcare facilities had to invest in more patient handling devices to ensure the safety and comfort of patients and healthcare workers.

However, due to supply chain disruptions and restrictions in manufacturing during lockdowns, there was a temporary shortage of patient handling devices in some regions. This led to a surge in prices and delays in the delivery of essential devices.

On the positive side, the COVID-19 pandemic also acted as a catalyst for innovation in patient handling devices. Manufacturers started developing more advanced and technologically sophisticated devices to meet the evolving needs of healthcare facilities dealing with the pandemic.

Patient Handling Devices Dynamics

The patient handling devices market is driven by factors such as the increasing geriatric population, rising prevalence of chronic diseases, and growing awareness about patient safety and comfort. Technological advancements in patient handling devices, such as electric beds and lift systems, are also contributing to market growth.

On the other hand, factors such as high costs associated with patient handling devices, lack of skilled healthcare professionals to operate these devices, and concerns about patient privacy and dignity are some of the challenges faced by the market.

Segments and Related Analysis

The patient handling devices market is segmented based on product type, end-user, and region. Product types include medical beds, wheelchairs, patient lifts, stretchers, and others. End-users of patient handling devices are hospitals, nursing homes, home care settings, and others.

The medical beds segment accounted for the largest market share in 2021, driven by the increasing number of hospital admissions and the need for specialized beds for patients with varying medical conditions. Hospitals were the major end-users of patient handling devices, owing to the high patient turnover and the need for efficient handling and care.

By Region Analysis

The patient handling devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America held the largest market share in 2021, driven by the presence of a well-established healthcare infrastructure and a high adoption rate of advanced patient handling devices.

Asia Pacific is expected to witness the highest growth rate during the forecast period, attributed to the increasing healthcare expenditure, rising geriatric population, and growing awareness about patient safety and comfort in the region.

Key Market Players and Competitive Landscape

Some of the key players in the patient handling devices market include Hill-Rom Holdings, Inc., Invacare Corporation, Stryker Corporation, Getinge AB, and Joerns Healthcare. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market presence.

The competitive landscape of the patient handling devices market is characterized by intense competition, with players vying for market share through advancements in technology and product quality.

Recent Happenings in the Patient Handling Devices Market

In recent developments, Hill-Rom Holdings, Inc. launched a new range of electric hospital beds with advanced patient monitoring capabilities. This innovation is expected to revolutionize patient care and enhance the efficiency of healthcare facilities.

Stryker Corporation announced a strategic partnership with a leading medical equipment manufacturer to co-develop a new line of patient lifts with advanced safety features. This collaboration is set to bring cutting-edge technology to the patient handling devices market.

Overall, the patient handling devices market is witnessing rapid growth and innovation, driven by the increasing demand for efficient and safe patient care solutions in healthcare settings worldwide.