Patient Lifting Equipment Market Size, Share, Industry Trends and Forecast to 2030

Patient Lifting Equipment Market Size & CAGR in 2021

The global patient lifting equipment market size in 2021 was valued at USD 5.6 billion, with a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028. The market is projected to reach USD 8.9 billion by 2028. The increasing prevalence of disabilities, the rising geriatric population, and the growing need for efficient patient handling solutions are driving the market growth.

COVID-19 Impact on the Patient Lifting Equipment Market

The COVID-19 pandemic had a significant impact on the patient lifting equipment market. With healthcare facilities overwhelmed by the influx of COVID-19 patients, there was a heightened focus on infection control and patient safety. This resulted in an increased demand for patient lifting equipment to facilitate safe and efficient patient handling. Additionally, the pandemic highlighted the importance of ergonomic solutions in healthcare settings, leading to a surge in the adoption of patient lifting equipment.

Patient Lifting Equipment Dynamics

The patient lifting equipment market is driven by factors such as the growing geriatric population, the increasing prevalence of disabilities, and the focus on preventing musculoskeletal injuries among healthcare workers. Technological advancements in patient lifting devices, such as electrically powered lifts and ceiling hoists, are also contributing to market growth. However, high costs associated with these equipment and the lack of awareness about the benefits of patient lifting solutions are some of the challenges faced by the market.

Segments and Related Analysis

The patient lifting equipment market can be segmented based on product type, end-user, and region. Product types include manual patient lifts, power patient lifts, sit-to-stand lifts, and ceiling lifts. End-users of patient lifting equipment include hospitals, nursing homes, home care settings, and others. By region, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

By Region Analysis

In North America, the patient lifting equipment market is driven by the presence of well-established healthcare infrastructure and the increasing adoption of advanced patient handling solutions. Europe is witnessing significant growth in the market due to the rising healthcare expenditure and the focus on improving patient safety. The Asia Pacific region presents lucrative opportunities for market players, fueled by the growing geriatric population and the increasing awareness about patient lifting equipment.

Key Market Players and Competitive Landscape

Key players in the patient lifting equipment market include Invacare Corporation, Arjo, Hill-Rom Holdings, Inc., Guldmann Inc., Handicare, and Joerns Healthcare. These companies are focusing on product innovation, strategic partnerships, and mergers & acquisitions to enhance their market presence. The competitive landscape of the market is characterized by intense competition and a strong focus on product quality and customer service.

Recent Happenings in the Patient Lifting Equipment Market

- In January 2021, Invacare Corporation launched the Invacare ISA Stand Assist Lift, a compact and versatile solution for safe and efficient patient transfers. - Arjo announced the acquisition of Swestep AB in October 2020, expanding its portfolio of patient handling solutions. - Hill-Rom Holdings, Inc. introduced the Hill-Rom Envella Air Fluidized Therapy Bed in July 2021, a innovative solution for wound care and pressure injury prevention.