June 13, 2024

Patient Handling Equipment Market Size, Share, Report 2033

The global patient handling equipment market size accounted for USD 11.90 billion in 2023 and is projected to cross around USD 22.60 billion by 2033, growing at a CAGR of 6.62% from 2024 to 2033.

Key Points

  • The North America patient handling equipment market size reached USD 4.64 billion in 2023 and is projected to be worth around USD 8.81 billion by 2033.
  • North America has generated highest revenue share of 37% in the patient handling equipment market in 2023.
  • Asia Pacific is observed to grow at the fastest rate during the forecast period.
  • By product, the wheelchairs and scooters segment dominated the patient handling equipment market in 2023.
  • By application, the acute & critical care segment dominated the market with revenue share of 28% in 2023.
  • By end-use, the hospitals segment dominated the patient handling equipment market in 2023 and captured a revenue share of 41%.
  • By application, the mobility assistance segment significantly growing in the market during the forecast period.

Patient Handling Equipment Market Size 2024 to 2033

The Patient Handling Equipment Market encompasses devices and solutions designed to assist in the safe and efficient movement of patients within healthcare facilities. These include hoists, wheelchairs, stretchers, transfer aids, and other mobility aids that help improve patient care and ensure safety for both patients and caregivers. As the healthcare industry continues to prioritize patient safety and comfort, the demand for patient handling equipment has increased.

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Growth Factors:

The market is primarily driven by the aging population worldwide and the rising prevalence of chronic diseases that require long-term care. Additionally, increasing awareness of patient safety and ergonomic practices in healthcare facilities has led to a higher demand for advanced patient handling equipment. Technological advancements, such as the integration of smart features in mobility aids, further propel market growth.

Region Insights:
The market shows regional variations in growth. North America leads the market due to its well-established healthcare infrastructure, high healthcare spending, and favorable reimbursement policies. Europe follows closely, with a strong focus on patient safety and the adoption of advanced medical technologies. The Asia-Pacific region is expected to exhibit the highest growth rate due to its large population base, increasing healthcare investments, and rising awareness about patient safety.

Patient Handling Equipment Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 6.62%
Global Market Size in 2023 USD 11.90 Billion
Global Market Size in 2024 USD 12.69 Billion
Global Market Size by 2033 USD 22.60 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Product, By Application, and By End-use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Patient Handling Equipment Market Dynamics

Drivers:
Key drivers of the market include increasing investments in healthcare infrastructure, growing demand for home healthcare services, and stringent safety regulations that mandate the use of patient handling equipment. Additionally, a rise in the number of surgeries and hospital admissions contributes to market growth.

Opportunities:
Opportunities in the market arise from the development of advanced patient handling equipment with features such as remote monitoring, connectivity, and automation. Partnerships between healthcare providers and equipment manufacturers can further drive innovation. Expansion into emerging markets offers growth potential due to increasing healthcare spending and infrastructure development.

Challenges:
Challenges in the market include high costs of advanced patient handling equipment, which may limit adoption, particularly in developing regions. Additionally, a shortage of skilled personnel trained to operate the equipment may hinder market growth. Regulatory compliance and the need for continual product innovation to stay competitive can also pose challenges.

Read Also: Organic Seed Market Size to Touch USD 11.20 Billion by 2033

Recent Developments

  • In March 2023, Medtronic, the largest healthcare technology company in the world, and NVIDIA announced a partnership to develop AI in the healthcare system more quickly and integrate innovative AI-based solutions into patient care. The businesses will incorporate NVIDIA healthcare and edge AI technology into the Cosmo Pharmaceuticals-developed and -manufactured Medtronic GI Genius TM intelligent endoscopy module. The first AI-assisted colonoscopy tool approved by the FDA, GI Genius, enables doctors to find polyps that may eventually develop into colorectal cancer.
  • In December 2022, Helix Flex, a new device from Freudenberg Medical, was introduced at PMEC India and CPhI. The product is a high-purity thermoplastic elastomer (TPE) tubing intended for fluid transfer applications in the biopharmaceutical industry.

Patient Handling Equipment Market Companies

  • Getinge
  • Stryker
  • Invacare
  • Hill Rom Services
  • Guldmann
  • HoverTech International
  • Handicare
  • Prism Medical
  • Ossenberg
  • Drive Medical
  • Antano Group
  • ORTHOS XXI
  • Stiegelmeyer
  • LINET
  • Joerns Healthcare

Segments Covered in the Report

By Product

  • Wheelchairs and Scooters
    • Manual Wheelchair
      • Folding Frame Manual Wheelchairs
      • Rigid Frame Manual Wheelchairs
    • Powered Wheelchair
    • Mobility Scooters
  • Medical Beds
    • Acute Care Beds
    • Long Term Care Beds
    • Bariatric Beds
    • Others
  • Mechanical Lifting & Transfer Equipment
  • Ambulatory aid Devices
  • Bathroom Safety Supplies
  • Others

By Application

  • Acute & Critical Care
  • Long Term Care
  • Mobility Assistance
  • Fall Prevention
  • Others

By End-use

  • Hospitals
  • Home Care Settings
  • Elderly Care Facilities
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Prathamesh

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