May 16, 2024

Patient Handling Equipment Market Size, Growth, Report 2033

The global patient handling equipment market size was estimated at USD 11.90 billion in 2023 and is projected to reach 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 includes a range of products designed to assist healthcare providers in safely moving, lifting, and transferring patients. These products include mobility aids, transfer devices, medical beds, lifting equipment, and stretchers. Such equipment is essential for both patient safety and the well-being of healthcare professionals who may otherwise suffer from injuries during patient handling. The market is seeing steady growth due to an aging population and increased emphasis on patient safety.

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Growth Factors

Several factors contribute to the growth of the patient handling equipment market:

  • Aging Population: An increase in the global elderly population leads to a higher demand for patient handling equipment, as older adults often require assistance with mobility and transfer.
  • Healthcare Infrastructure Development: Ongoing improvements and investments in healthcare infrastructure, particularly in emerging markets, drive the demand for patient handling equipment.
  • Awareness and Regulations: Growing awareness of patient safety and occupational safety for healthcare workers, supported by regulations and guidelines, boosts the adoption of advanced patient handling solutions.
  • Technological Advancements: Innovations in patient handling equipment, such as automated and ergonomically designed devices, improve efficiency and safety, encouraging healthcare providers to invest in new products.

Region Insights

The patient handling equipment market varies across different regions:

  • North America: Dominates the market due to its advanced healthcare infrastructure and high adoption of technological advancements in patient handling equipment.
  • Europe: Follows closely behind North America, with a strong focus on patient and healthcare worker safety, as well as strict regulatory standards.
  • Asia-Pacific: Shows significant growth potential, driven by a large aging population, increasing healthcare investments, and rising awareness of patient safety.
  • Latin America and Middle East & Africa: These regions are experiencing moderate growth due to expanding healthcare infrastructure and a gradual increase in awareness of 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 for the patient handling equipment market include:

  • Rising Healthcare Expenditure: Increased spending on healthcare worldwide supports the adoption of patient handling equipment.
  • Chronic Disease Prevalence: Growing rates of chronic illnesses, particularly in aging populations, necessitate patient handling equipment for treatment and care.
  • Government Support: Government initiatives and support for healthcare infrastructure and safety standards fuel market growth.

Opportunities

Opportunities in the patient handling equipment market include:

  • Technological Innovations: Continued development of new, more efficient, and safer patient handling equipment presents opportunities for market expansion.
  • Emerging Markets: Untapped potential in regions such as Asia-Pacific, Latin America, and the Middle East & Africa offers growth opportunities for market players.
  • Home Healthcare Market: The increasing trend of home healthcare provides opportunities for patient handling equipment manufacturers to cater to this growing segment.

Challenges

The market faces certain challenges:

  • High Costs: The cost of advanced patient handling equipment may hinder adoption, particularly in resource-limited healthcare settings.
  • Limited Awareness: In some regions, a lack of awareness about the benefits of patient handling equipment can restrict market growth.
  • Stringent Regulations: Compliance with safety and quality standards can pose challenges for manufacturers, particularly in highly regulated markets.

Read Also: Organic Seed Market Size to Rake 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

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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