Patient Handling Equipment Market Insights, Leading Players, Growth and Demand Forecast to 2030

The patient-handling equipment industry has garnered USD 12,599.5 million revenue in 2021, and it is projected to rise at a rate of 2.6% from 2021 to 2030, to generate USD 15,917.8 million revenue in 2030. It is led by the worldwide rising obese and elderly population, increasing incidence of injury in manual patient handling, and technological advancements in patient management devices for ergonomics improvement.

In addition, the implementation of government regulations for ensuring caretakers' safety during the manual lifting process and the rising footfall of patients in hospitals are projected to boost the sales of patient handling equipment.

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Furthermore, the rising prevalence of musculoskeletal disorders has affected the 1.7 billion global population. It results in burgeoning demand for appliances for effective management. The rising demand and penetration of these systems in developing countries provide significant development opportunities.

The consumption of patient handling equipment devices is rising at a substantial rate in developing countries. The surging government initiatives and rising economy in the APAC region, with the presence of key players, propel the industry.

The industry based in countries such as China and India has massive growth potential, due to the expansion of the healthcare sector in these countries. The massive population base with advanced healthcare infrastructure lures medical device manufacturers to set up their manufacturing facilities in these nations.

Moreover, the cost of manufacturing medical device products is likely to decrease in emerging economies. It would thus result in reduce selling costs of the products without impacting the quality.

The medical bed category garnered $4 billion in revenue in 2021. It is due to the worldwide rising footfall of chronic care patients, surging investments to improve therapeutic infrastructure, technologically advanced ICU beds, and a rise in the number of hospital beds.

There are numerous factors that propel the industry's growth. It includes extensive policy reforms, economic liberalization, and a swift increase in the middle-class population, with rising purchasing power.

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The integration of electronic health records, and electronic medical records into patient handling equipment systems, to provide a report of health data such as weight, blood, body temperature, immunization status, and medication dosage is likely to result in industry propulsion.

Worldwide governments are massively investing in the deployment of ambulatory facilities. It results in rising accessibility and decreasing lower treatment costs. For instance, the U.S. government has launched MHRRP, under the Affordable Care Act to facilitate primary care at all accessible point-of-care locations that reduce hospital stays and other healthcare expenditures.

The major companies operating in the industry are: 1- Hill-Rom Holdings Inc.
2- Etac AB
3- V.Guldmann A/S
4- Joerns Healthcare LLC
5- Handicare Group AB
6- Stryker Corporation.

Therefore, the rising footfall of chronic disease patients in hospitals boosts industry growth.

Browse more reports:

Hospital Bed Market - https://www.psmarketresearch.com/press-release/global-hospital-beds-market

Smart Home Healthcare Market - https://www.psmarketresearch.com/press-release/smart-home-healthcare-market

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This release was published on openPR.