[Research Report] The Patient Mechanical Lift Handling Equipment in healthcare market was valued at US$ 1,197.58 million in 2018 and it is projected to reach US$ 2,715.37 million by 2027; it is expected to grow at a CAGR of 9.6% from 2019 to 2027.
The patient mechanical lift handling equipment are the devices used for lifting, handling and transferring patients form one position to other place or position. The lifting devices are different from the stairway chair lift or elevators. The patient mechanical lift and handling equipment are operated by electricity or battery. These devices provide various benefits which include reduced risk of injuries to patient and caregivers. Across the world various regions have imposed mandatory laws of safe patient handling laws for the patient lifts to transfer patient. The growth of the Patient Mechanical Lift Handling Equipment in healthcare market is attributed to the rapidly growing geriatric population, increasing musculoskeletal disorders and growing cases for the disability. However, the factor such as high prices of patient mechanical lift handling equipment is expected to act as major restraining factor for the growth of the market.
The Patient Mechanical Lift Handling Equipment in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
Lucrative Regions for Patient Mechanical Lift Handling Equipment in Healthcare Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Growing Applications of Patient Mechanical Lift Handling Equipment in Healthcare to Drive Patient Mechanical Lift Handling Equipment in Healthcare Market Growth
The growth in the geriatric population been experienced by almost every country across the world. The rapidly growing geriatric population is the major factor for the growth of the patient mechanical lift handling market. The development in the healthcare systems has increased the life expectancy among the people which has increased the health of the population. Thus, the increased in the better of health has led to the growth of geriatric population. The factor that has increased the older population is the reduction in the birth rates.
During the growing ages the process of degeneration is initiated and the geriatric population is unable to move. The geriatric population start loosing strength and therefore they require assistance during the movement. The geriatric population require assistance for their routine activities. According to the World Population Prospects, in 2017 the number of the people of 60 years and above is expected rise twice by 2050, it is also expected that it will grow rapidly in the coming years. Additionally, it was expected to reach nearly 2.1 billion by 2050 from approximately 962 million in 2017 across the world. The ageing population is growing at much faster pace than the younger population.
Similarly, according to the data published in 2018 by Centers for Disease Control and Prevention it is estimated that by 2060 the number of the US adults of 65 years and above is expected to reach approximately 98 million. The number is consolidated approximately 24% of the total population.. The larger portion of the geriatric population lives in the elderly care and old age centers. The centers provide long-term care for the geriatric population. Thus, these centers require patient handling lift handling equipment for the safety.
In addition, the development in the technology has enabled in the introduction of the medical devices that assists caregiver to perform their tasks efficiently. The product has enabled for safe transfer of the patient within their facility centers. Therefore, owing to the above mentioned factors it is expected the rapidly growing geriatric population is likely to foster the growth of the market during the forecast period.
The musculoskeletal disorder is widely observed in the healthcare professionals, farmers, laborers as these professionals are involved in the regular task of heavy lifting. The nurses are more prone to the musculoskeletal disorders such as trauma, severe low back pain, shoulder pain, lower limb pain and others. Similarly, among the farmers they experience lower back pain as they continue to bend for long hours while working in the frames.
For instance, according to the United States Department of Labor, in 2017, the musculoskeletal disorders were seen in second higher number. It was stated that there were nearly 18,090 cases of the musculoskeletal disorders. The incident rate for the musculoskeletal disorders was approximately 166.3 per 10,000 workers in 2017. The incidence rate is accounted five times more than all the industries work related injuries.
In addition, according to the Center for Disease Control and Prevention it is stated that musculoskeletal injuries due to the overexertion in healthcare profession are highest from all the U.S. industries. However, in the developed regions such as Europe and North America, various safe patient handling programs, initiatives, frameworks and guidelines are provided by the government. These initiatives, programs, and others are helped in the adoption of patient handling and lift equipment.
However, the incidences are expected to rise in coming future. It is expected that in the regions such as Asia Pacific and Middle East the incidences for the musculoskeletal disorders are likely to increase. The incidences are still growing in the developed countries. For instance according to the Health and Safety Executive’s annual statistics published in October 2018 states that in Great Britain there were nearly 469,000 cases of musculoskeletal disorder registered in between 2017-2018. Thus, owing the above mentioned factors it is expected that the market for the patient mechanical lift handling equipment is likely to propel during the forecast period.. The cases of disabilities are growing across the world. According to the World Bank Group statistics, (2019), one billion people or the approximately 15% of the total world population experience some kind of disability. The prevalence of the disability is higher among the people living the developing countries. The data also shared that approximately 110 million and 190 million people experience some significant disabilities.
In addition, According to the Centers for Disease Control and Prevention, in the US one in four adult live with a kind disability. There are some cases with the congenital disability which is most common in the younger population and there some more common mobility disorders among the people. The age related disability is more common, it affects two in five people of 65 years and above.
Across the world various programs are initiated world to support the disabled people and these initiatives have increased the demand for the patient mechanical lift handling equipment. Therefore, owing to the above mentioned factors the market is likely to propel during the forecast period.
Product-Based Insights
In terms of product, the Patient Mechanical Lift Handling Equipment in healthcare market is segmented into standup and raising lifts/aid, overhead/ceiling lifts, floor-based lifts, powered sit-to-stand lifts, gantry lifts, others. In 2018, the standup and raising lifts/aid segment held a largest market share of 22.04% of the patient mechanical lift handling equipment market, by product.
Patient Mechanical Lift Handling Equipment in Healthcare Market, by Product – 2018 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
End User-Based Insights
In terms of end user, the Patient Mechanical Lift Handling Equipment in healthcare market is segmented into homecare, hospitals, elderly care homes, others In 2018, the hospitals held a largest market share of 41.34% of the patient mechanical lift handling equipment market, by end user.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Patient Mechanical Lift Handling Equipment Market: Strategic Insights
Market Size Value in US$ 1,197.58 Million in 2018 Market Size Value by US$ 2,715.37 Million by 2027 Growth rate CAGR of 9.6% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Patient Mechanical Lift Handling Equipment Market: Strategic Insights
| Market Size Value in | US$ 1,197.58 Million in 2018 |
| Market Size Value by | US$ 2,715.37 Million by 2027 |
| Growth rate | CAGR of 9.6% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
The Patient Mechanical Lift Handling Equipment in healthcare market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
Patient Mechanical Lift Handling Equipment in Healthcare Market – by Product
- Standup and Raising Lifts/Aid
- Overhead/Ceiling Lifts
- Floor-Based Lifts
- Gantry Lifts
- Powered Sit-To-Stand Lifts
- Bath Patient Lifters
- Others
Patient Mechanical Lift Handling Equipment in Healthcare Market – by End User
- Homecare
- Hospitals
- Elderly Care Homes
- Others
Patient Mechanical Lift Handling Equipment in Healthcare Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- Gainsborough Specialist Bathing
- Getinge Group
- Handicare Group AB
- Hill-Rom Holding Inc
- Invacare Corporation
- Joerns Healthcare, Inc.
- Mangar International, Inc.
- Stryker Corporation
- Sunrise Medical LLC
- V.Guldman A/S (Guldmannn Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The List of Companies
- Gainsborough Healthcare Group
- Getinge Group
- Handicare Group AB
- Hill Rom Holding Inc.
- Stryker Corporation
- Invacare Corporation
- Joerns Healthcare, Inc.
- Mangar International, Inc
- V. Guldmann A/S (Guldmann Inc)
- Sunrise Medical LLC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Patient Mechanical Lift Handling Equipment Market
Jun 2019
Colonoscopes Market
Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Fiber Optic Colonoscopy Devices, Video Colonoscopy Devices); Application (Colorectal Cancer, Lynch Syndrome, Ulcerative Colitis, Crohn's Disease, Polyp); End User (Hospitals, Ambulatory Surgery Center, Others), and Geography
Jun 2019
Noninvasive Fat Reduction Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Cryolipolysis, Laser Lipolysis, Ultrasound, and Others), End User (Hospitals, Dermatology Clinics & Cosmetic Clinics, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Jun 2019
Medical Ultrasound Flow Meter Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Implementation Type (Clamp-On, Inline, and Others), Technology (Doppler, Transit Time, and Hybrid), Application (Heart and Lung Machines, Extracorporeal Membrane Oxygenation, Perfusion, Organ Transportation Systems, and Others), End User (Hospitals and Clinics, Ambulatory Surgical Centers, Research Laboratories, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Jun 2019
Rapid Test Kits Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Rapid Antigen Testing, Rapid Antibody Testing, and Others), Product (Over-the-Counter Rapid Testing Kit and Professional Rapid Testing Kit), Technology (Lateral Flow Assay, Solid Phase, Agglutination, Immunospot Assay, and Cellular Component-Based), Application (Blood Glucose Testing, Infectious Disease Testing, Pregnancy and Fertility, Cardiometabolic Testing, and Others), End User (Hospital and Clinics, Home Care, Diagnostics Centers, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Jun 2019
Osteoarthritis Therapy Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Therapy Type [Transcutaneous Electrical Nerve Stimulation (TENS), Occupational Therapy, Physical Therapy, Platelet-Rich Plasma Therapy and Stromal Vascular Fraction, Prolotherapy, and Others], Disease Indication (Knee Osteoarthritis, Spine Osteoarthritis, Foot and Ankle Osteoarthritis, Shoulder Osteoarthritis, Hand Osteoarthritis, and Others), End User (Hospitals & Clinics, Specialty Clinics, Ambulatory Surgical Centers, Homecare, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Jun 2019
Bariatric Surgeries Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type [Adjustable Gastric Bands (AGB), Sleeve Gastrectomy, Gastric Bypass, Biliopancreatic Diversion with Duodenal Switch (BPD-DS), and Others], End User (Hospitals and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Jun 2019
Post-Acute Care Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Service Type (Skilled Nursing Facilities, Inpatient Rehabilitation Facilities, Long-Term Care Hospitals, Home Health Agency, and Others), Age (Elderly, Adult, and Others), Disease Conditions (Amputations, Wound Management, Brain Injury and Spinal Cord Injury, Neurological Disorders, and Others), and Geography
Jun 2019
Lung Cancer Therapy Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Therapy Type (Noninvasive and Minimally Invasive), Indication (Non-Small Cell Lung Cancer and Small Cell Lung Cancer), End User (Hospitals, Oncology Clinics, Research Centers, and Others), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)