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Rising Geriatric Population Is The Driving Force For Growth In The Patient Handling Equipment Market: An Emerging Driver Transforming The Patient Handling Equipment Market Landscape
Patient Handling Equipment
What Is the Projected Growth of the Patient Handling Equipment Market?
Over the past few years, the market size for patient handling equipment has seen significant expansion. It will see an increase from $19.18 billion in 2024 to $23.07 billion in 2025, with a compound annual growth rate (CAGR) of 20.3%. Factors that contributed to growth in the historic period include an escalating elderly population, higher spending on healthcare, a rise in chronic disease prevalence, robust economic advancement in emerging markets, and regulations that promote accessibility for disabled individuals.
Expectations are high for a robust expansion in the patient handling equipment market in the coming years, with a projected growth of $31.24 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.9%. Factors contributing to this upswing in the forecast period include enhancements in healthcare infrastructure, escalated healthcare spending, and a rapid increase in the elderly population. Key tendencies during this prediction period fold in a high emphasis on the integration of sensors and intelligence in wheelchairs to minimize human intervention, substantial investment in research and development for generating effective and novel treatments, strategic alliances to spur innovations, and products and services that can create category dominance, coupled with the adoption of RFID technology to amplify the patient experience.
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What Are the Different Patient Handling Equipment Market Segments?
The patient handling equipment market covered in this report is segmented -
1) By Product Type: Wheelchairs, Mobility Scooters, Medical Beds, Patient Transfer Equipment, Other Product Types
2) By Care Type: Critical Care, Fall Prevention, Bariatric Care, Wound Care, Other Care Types
3) By End-User: Homecare, Hospitals, Other End-Users
Subsegments:
1) By Wheelchairs: Manual Wheelchairs, Powered Wheelchairs, Lightweight Wheelchairs
2) By Mobility Scooters: 3-Wheel Mobility Scooters, 4-Wheel Mobility Scooters, Heavy-Duty Mobility Scooters
3) By Medical Beds: Manual Hospital Beds, Electric Hospital Beds, Bariatric Beds
4) By Patient Transfer Equipment: Patient Slings, Transfer Boards, Patient Lifts
5) By Other Product Types: Walkers and Rollators, Bedside Commodes, Gait Trainers
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What Are the Primary Drivers Shaping the Patient Handling Equipment Market?
The escalation in the number of elderly individuals in most nations is fostering the expansion of the market for patient handling equipment. The aging demographic is responsible for a significant proportion of hospital visits due to their elevated susceptibility to chronic and other health conditions, therefore enhancing the demand for patient handling equipment. As per the World Health Organization's data, the population aged 65 and above is predicted to reach 1.4 billion by 2030, eventually swelling to 2.1 billion by 2050. Consequently, the anticipated growth in the elderly populace is likely to stimulate the demand for the patient handling equipment market during the projection period.
Which Companies Are Leading in the Patient Handling Equipment Market?
Major companies operating in the patient handling equipment market include Invacare Corporation, Hill-Rom Holdings Inc., ArjoHuntleigh Inc., Joerns Healthcare LLC, Handicare Group AB, Drive Divilbiss Healthcare Inc., ETAC AB, Gf Health Products Inc., Prism Medical UK, Guldmann Inc., Etac Limited, Arjo, Handicare (Xiamen) Co. Ltd., Linet Inc., Stryker Corporation, V. Guldmann A/S, Hill-Rom India Private Limited, Ottobock SE & Co, LINET, Malvestio, Ossenberg, Antano Group, Stiegelmeyer, Mangar Health, Lojer Oy, KNESTEL Technologie & Elektronik GmbH, Imaxdi, Karma, Reac Poland Sp.Zoo, Paramount Bed Holdings, Umano Medical, MEDITEK, AGA Sanitätsartikel GmbH, Drive DeVilbiss Healthcare, Brumaba GmbH & Co. KG, medifa-hesse GmbH & Co. KG, UFSK-International OSYS GmbH, Stiegelmeyer GmbH & Co. Kg, OpeMed Ltd., DJO LLC, Hill-Rom Services Inc, Getinge AB, Sunrise Medical LLC, Benmor Medical Limited, Paramount Bed Co. Ltd., Drive DeVilbiss Sidhil Ltd., Medline Industries Inc.
What Trends Are Expected to Dominate the Patient Handling Equipment Market in the Next 5 Years?
The rise of intelligent wheelchairs is an emerging trend that is gaining traction in the patient handling equipment market. These hi-tech wheelchairs are equipped with sensors, cameras, and a computer-based management system that allows them to execute complicated tasks. Prominent companies and researchers are focusing on developing intelligent wheelchairs that employ sensors and smart technology to minimize human intervention. For example, in March 2023, Golden Technologies LLC, an American manufacturing company of mobility and healthcare products, unveiled their new lightweight, foldable power wheelchairs, the GP301 Stride aluminum folding power wheelchair and the GP302 Cricket carbon fiber folding power wheelchair. These wheelchairs are ideal for individuals in need of mobility aid as they are designed to be versatile and travel-friendly.
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What Are the Top Revenue-Generating Geographies in the Patient Handling Equipment Market?
North America was the largest region in the patient handling equipment market in 2024. Western Europe was the second largest region in the global patient handling equipment market report. The regions covered in the patient handling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Patient Handling Equipment Market?
2. What is the CAGR expected in the Patient Handling Equipment Market?
3. What Are the Key Innovations Transforming the Patient Handling Equipment Industry?
4. Which Region Is Leading the Patient Handling Equipment Market?
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