SELBYVILLE, Del. - June 15, 2020 - (Newswire.com)
Global Market Insights, Inc. has recently added a new report on the patient handling equipment market which estimates the market valuation for patient handling equipment will cross US $40 billion by 2026. The increasing advantages associated with patient handling equipment, coupled with surging incidence of disabilities among the older population, will drive business growth during the forecast period.
The increasing risk of injuries to caregivers during manual handling of patients will surge the demand for patient handling equipment across the globe. Musculoskeletal disorders (MSDs) are the most common type of injuries among caregivers while lifting, repositioning and moving patients manually from one place to another. Additionally, the majority of injuries were due to overexertion and high-risk activities including transferring and manual lifting of patients. Therefore, lower back, neck, upper back and shoulders are the most affected body parts due to heavy manual lifting. Moreover, the risk of developing MSDs can be minimized by providing hospitals with specific tools and equipment for better patient care.
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The mechanical lifting and transfer equipment product segment accounted for over a 12% market share in 2019. Mechanical and transfer equipment are commonly used in healthcare centers such as hospitals and rehabilitation centers for easy and comfortable patient movement. Additionally, the surging number of disability cases worldwide, requiring mechanical and transfer equipment will drive segmental growth. According to the World Health Organization (WHO), about 1.9 billion adults were overweight in 2016, among them around 650 million people were obese. Thus, rising cases of obesity will foster market progression.
Implementation of regulations for ensuring the safety of healthcare personnel against the manual lifting of patients will upsurge the market growth over the upcoming years. Government regulations in several countries are focusing on promoting safe patient handling practices to ensure the safety of caregivers as well as patients during the COVID-19 pandemic situation. Till 2018, around 11 states of the U.S. were practicing safe handling regulations including Rhode Island, Maryland, California, Illinois, Minnesota, Missouri, New York, New Jersey, Ohio, Texas and Washington. These states implemented minimal lift policy while moving, transferring and relocating the patients. Thus, growing government initiatives for promoting the use of mobility assistance equipment will act as a major factor propelling the industry's growth.
The fall prevention segment will witness around USD 3.5 billion in 2019. The surging number of fall incidents, coupled with the increasing number of geriatric population is anticipated to boost the segmental growth. Moreover, various technological advancements including tracking devices and fall prevention equipment that easily tracks patients daily movements will augment the patient handling equipment business growth.
The elderly care facilities segment accounted for around a 16% market share in 2019. The rising number of care management services for older adults including nursing homes, family-provided and professionally-provided elderly care facilities will boost the business progression. Numerous benefits over hospitals and home care settings will foster the demand for elderly care facilities. In addition, these centers are equipped with better and advanced care facilities with 24-hour supervision that will substantially stimulate segmental growth.
Browse key industry insights spread across 360 pages with 326 market data tables & 16 figures & charts from the report, “Patient Handling Equipment Market Share & Forecast, 2020 – 2026” in detail, along with the table of contents:
https://www.gminsights.com/industry-analysis/patient-handling-equipment-market
The U.S. patient handling equipment market will witness around a 2% CAGR through 2026. An increasing geriatric population base, along with the surging incidence of disabilities, are the foremost factors driving patient handling equipment market growth. Moreover, the U.S. is one of the developed countries in terms of technologies and economy that will further favor the overall patient handling equipment industry growth.
Some major findings of the patient handling equipment market report include:
- The coronavirus pandemic has increased the application of patient handling equipment to a great extent, thereby boosting the overall market growth.
- Increasing geriatric population base requiring mobility assistance devices will fuel the patient handling equipment industry growth.
- Increasing risk of injuries to caregivers and family members while manual handling of patients will significantly surge the demand for patient handling equipment across the globe.
Some of the eminent business players operating in patient handling equipment market include Invacare, HoverTech International, Guldmann, Getinge, Stiegelmeyer, Stryker, Hill Rom Services, LINET, Joerns Healthcare, Handicare, Prism Medical, Ossenberg, Drive Medical, Antano Group, and ORTHOS XXI. These market players are implementing several growth strategies including product innovations, mergers and acquisitions to gain competitive advantage.
Browse complete report table of contents at https://www.gminsights.com/toc/detail/patient-handling-equipment-market
Partial chapters of report table of contents (TOC):
Chapter 3. Patient Handling Equipment Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Increasing hospital admissions due to outbreak of COVID-19 pandemic
3.3.1.2. Rising geriatric population globally
3.3.1.3. Escalating incidence of disabilities across the globe
3.3.1.4. Risk of injuries to caregivers during manual handling of patients
3.3.1.5. Implementation of regulations ensuring safety of healthcare personnel against manual lifting of patients
3.3.2. Industry pitfalls and challenges
3.3.2.1. Insufficient training to caregivers for operating patient handling equipment
3.3.2.2. Difficulties in manual handling of bariatric patients
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By application
3.4.3. By end-use
3.5. COVID-19 impact analysis
3.5.1. Impact of COVID-19 on 10 major markets
3.5.1.1. Overview
3.5.1.2. U.S.
3.5.1.3. Germany
3.5.1.4. UK
3.5.1.5. France
3.5.1.6. Spain
3.5.1.7. Italy
3.5.1.8. China
3.5.1.9. India
3.5.1.10. Brazil
3.5.1.11. Japan
3.5.2. Impact of COVID-19 on industry segments, by 10 major markets (2020)
3.5.2.1. Wheelchairs and scooters
3.5.2.2. Medical beds
3.5.2.3. Mechanical lifting & transfer equipment
3.5.2.4. Ambulatory aid devices
3.5.2.5. Bathroom safety supplies
3.5.2.6. Others
3.5.3. Impact of COVID-19 on industry value chain
3.5.3.1. Research and development
3.5.3.2. Manufacturing
3.5.3.3. Marketing
3.5.3.4. Supply
3.5.4. Impact of COVID-19 on industry competition
3.5.4.1. Strategy
3.5.4.2. Distribution network
3.5.4.3. Type portfolio
3.5.4.4. Business growth
3.6. Porter’s analysis
3.7. Competitive landscape, 2019
3.7.1. Competitive matrix analysis, 2019
3.8. PESTEL analysis
Browse related report:
Durable Medical Equipment Market Size By Product (Personal Mobility Devices {Wheelchair and Scooter, Crutches and Canes, Walker}, Monitoring and Therapeutic Devices {Oxygen Equipment, Blood Glucose Analyzers, Vital Sign Monitors, Infusion Pumps, Continuous Positive Airway Pressure [CPAP] Devices Nebulizers}, Bathroom Safety Devices, Medical Furniture, Incontinent Pads, Breast Pumps, Catheters, Consumables and Accessories), By Payer (Public, Private, Out-of-Pocket), By End-use (Hospitals, Home Healthcare, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
https://www.gminsights.com/industry-analysis/durable-medical-equipment-dme-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Related Links
Patient Handling Equipment Market
Medical Products Market
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Original Source: Patient Handling Equipment Market to Hit $40B by 2026: Global Market Insights, Inc.
