What are Key Factors Causing Boom of Patient Handling Equipment Market?

The booming geriatric population, surging incidence of disability, and rising prevalence of chronic and lifestyle-associated diseases are expected to drive the patient handling equipment market at a CAGR of 10.5% during the forecast period (2016–2022). The market generated revenue of $9.5 billion in 2015, and it is expected to generate $19.1 billion by 2022. Patient handling equipment is used for safely moving or supporting patients or any part of their body. Such equipment helps in improving the working conditions of caregivers by reducing work-related injuries and biomechanical overload risk.

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One of the primary growth drivers for the market is the increasing prevalence of disabilities. According to the World Bank, nearly one billion people, or 15% of the global population, experience some disability. Most of the cases of disability are recorded in developing countries due to their poor healthcare infrastructure. Disability is a complex health condition that hinders the interaction between affected individuals and the environment and refers to a collective term for participation restriction, activity limitations, and impairment.

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Moreover, the burgeoning penetration of patient handling equipment in developing countries will offer immense growth opportunities for the patient handling equipment market in the foreseeable future. Factors such as the rising number of government initiatives and booming economy of Asian countries are encouraging the market players to expand their presence in such nations. Asian countries, such as India and China, have a huge growth potential for market players due to their improving healthcare industry.

The end user segment of the patient handling equipment market is classified into hospital, elderly care facility, home healthcare, and others. Under this segment, the hospital category will account for the largest market share throughout the forecast period due to the surging footfall of patients in these healthcare facilities owing to the availability of advanced devices and equipment here. Whereas, the increasing shift toward home healthcare settings, owing to the excessive medical bills generated by hospitals, will boost the adoption of patient handling equipment in such settings in the forthcoming years.

Thus, the growing prevalence of disability and soaring elderly population will drive the demand for patient handling equipment.

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