Market Trends of Patient Lateral Transfer Devices Industry
The Hospitals Segment is Expected to Hold Significant Market Share over the Forecast Period
Hospitals are well equipped with advanced technological equipment for patient handling and management. The expanding healthcare infrastructure in emerging economies and the support from government organizations are also helping the growth of the segment of the patient lateral transfer devices market.
The hospital segment has dominated the overall patient lateral transfer devices market, owing to the growing number of people suffering from mobility disabilities and the increasing geriatric population, coupled with the surging number of hospital admissions. For instance, according to the National Health Service (NHS) data updated in September 2022, there were under 16 million admissions to hospitals in 2021 and 2022, a slight increase compared to the previous year.
According to the National Library of Medicine data updated for spinal cord injuries in August 2021, motor vehicle collisions account for 38% of new SCI each year, 30% of SCI are due to falls, 13% are due to violence, 9% from sports injuries, and 5% from medical and surgical etiologies in the United States. Additionally, as per the source mentioned above, there are approximately 17,000 new cases of SCI each year, and roughly 282,000 people are estimated to be living with SCI in the United States. Hence, the high burden of SCI in countries across the globe is anticipated to drive the demand for patient lateral transfer devices. Therefore, it is poised to drive segment growth.
Also, the steep rise in the volume of hospitals and increasing hospital admissions drives higher demand for healthcare facilities management, thereby boosting the studied market growth. The American Hospital Association (AHA) statistics published in 2022 show that the total number of active hospitals in the United States is around 6,093.
North America Dominates the Patient Lateral Transfer Devices Market
The major factors driving the growth of the market are the rising prevalence of various musculoskeletal conditions and the presence of better healthcare infrastructure, as compared to most developed countries.
According to the CDC's August 2021 updated statistics, 6 in 10 adults in the United States have at least one chronic disease, and 4 in 10 adults in the United States have two or more chronic diseases. As per the same report, heart disease, cancer, chronic lung disease, stroke, Alzheimer's disease, diabetes, and chronic kidney disease result in annual healthcare costs of around USD 3.8 trillion in the US healthcare system.
There is a growing trend in the prevalence of obesity and overweight across the region, which has further increased over the last three decades. People who are obese and overweight are likely to be affected by major chronic illnesses that require admission to a healthcare facility when the condition worsens. This factor is likely to increase the demand for patient lateral transfer devices, as it is difficult to transport them manually. Statistics of the CDC updates from July 2021, showed a significant increase in the prevalence of obesity among adults aged 20 years and over in the United States. The prevalence rate of obesity increased from 37.7% to 42.4%, and the prevalence of severe obesity increased from 7.7% to 9.2% in the United States. Thus, owing to the factors mentioned above, the market is expected to witness high growth over the forecast period in North America.
