Market Size of Patient Lifting Equipment Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 6.56 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Patient Lifting Equipment Market Analysis
The Patient Lifting Equipment market is expected to register a CAGR of 6.56% over the forecast period.
The COVID-19 pandemic initially had a substantial impact on the patient lifting equipment market. The strict lockdowns and government regulations intended to slow down the spread of COVID-19 resulted in a decrease in patient admissions in hospitals. For instance, according to an article published by BMC in November 2021, a study conducted in the United Arab Emirates showed that the incidence of hospitalized road traffic collisions (RTC) trauma patients significantly reduced by 33.5% during the pandemic compared with the pre-pandemic period. This reduced the usage of patient lifting equipment. Thus, the COVID-19 outbreak affected the market's growth significantly in its preliminary phase; however, the market gained traction in the post-pandemic period, the supply chain of devices being back to normal, and it is expected to have stable growth during the forecast period.
Furthermore, the rising geriatric population, the high risk of injuries to caregivers during the manual handling of patients, and the implementation of regulations ensuring the safety of healthcare personnel are among the major factors driving the growth of the market studied. For instance, according to the data published by British Heart Foundation in December 2021, the best post-intervention outcomes of assistive devices deployment in the healthcare setting included a reduction in work-related musculoskeletal disorders (WMSD) incidence by 59.8%, missed workdays by 90.0% and workers' compensation claims by 95.0%. Additionally, hand force declined by 71% and 70% with air-assisted devices and ceiling lifts, respectively. Overall, the evidence suggests that patient transfer assistive devices, notably ceiling lifts and air-assisted devices, effectively reduce the risk of WMSDs among nurses. Hence, the advantages of patient lifting equipment are the factors driving the growth of the market.
In addition, new product launches and strategic activities by major players in the market are positively affecting the market's growth. For example, in July 2021, AmeriGlide, a leading stair lift manufacturer, launched the AmeriGlide UP Stair Lift. The new stair lift is equipped with innovative features to provide utmost safety for the patients while using it. Thus, owing to such product launches and partnerships, the market studied is expected to grow significantly over the forecast period.
Therefore, owing to the aforementioned factors, such as the advantages offered by the patient lifting equipment and the new product launches and strategic activities by major players, the market studied is anticipated to witness growth over the analysis period. However, the lack of training provided to caregivers is likely to impede the market's growth.
Patient Lifting Equipment Industry Segmentation
Patient lifting equipment is an assistive device that allows patients in hospitals and nursing homes and people receiving health care at home to be transferred between bed and chair or other similar resting places.
The Patient Lifting Equipment Market is Segmented by Product (Ceiling Lifts, Stair & Wheelchair Lifts, Mobile Lifts, Sit-To-Stand Lifts, Bath & Pool Lifts, Lifting Slings, and Accessories), End-User (Hospitals, Homecare Setting, and Other End-Users), and Geography (North America (United States, Canada, and Mexico), Europe ) Germany, United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Middle East and Africa (GCC, South Africa, and the Rest of Middle East and Africa), and South America Brazil, Argentina, and Rest of South America)). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments. The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (in USD million) for the above segments.
By Product | |
Ceiling Lifts | |
Stair & Wheelchair Lifts | |
Mobile Lifts | |
Sit-To-Stand Lifts | |
Bath & Pool Lifts | |
Lifting Slings | |
Accessories |
By End-User | |
Hospitals | |
Homecare Setting | |
Other End-Users |
By Geography | ||||||||
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Patient Lifting Equipment Market Size Summary
The patient lifting equipment market is poised for growth, driven by several key factors. The initial impact of the COVID-19 pandemic led to a temporary decline in market activity due to reduced hospital admissions and disruptions in the supply chain. However, the market has since rebounded, benefiting from the resumption of normal operations and the increasing demand for equipment that ensures the safety of healthcare personnel. The rising geriatric population and the high risk of injuries to caregivers during manual patient handling are significant contributors to market expansion. The implementation of regulations aimed at safeguarding healthcare workers further supports the adoption of patient lifting devices. Innovations in product offerings, such as the introduction of advanced stair lifts and ceiling lifts, are also playing a crucial role in driving market growth.
The mobile lifts segment, in particular, is expected to experience substantial growth due to their flexibility and ease of use in various settings, including homes and healthcare facilities. The demand for these devices is further bolstered by the increasing number of elderly patients who require assistance. North America is anticipated to hold a significant market share, supported by the availability of technologically advanced products and a high level of consumer awareness. The region's growth is also fueled by key developments and product launches by major players, which enhance the accessibility and safety of care environments. The market landscape is moderately fragmented, with several international and local companies competing for market share, contributing to the dynamic nature of the industry.
Patient Lifting Equipment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Geriatric Population
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1.2.2 High Risk of Injuries to Caregivers during the Manual Handling of Patients
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1.2.3 Implementation of Regulations Ensuring the Safety of Healthcare Personnels
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1.3 Market Restraints
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1.3.1 Lack of Training Provided to Caregivers
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value in USD million)
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2.1 By Product
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2.1.1 Ceiling Lifts
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2.1.2 Stair & Wheelchair Lifts
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2.1.3 Mobile Lifts
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2.1.4 Sit-To-Stand Lifts
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2.1.5 Bath & Pool Lifts
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2.1.6 Lifting Slings
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2.1.7 Accessories
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2.2 By End-User
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2.2.1 Hospitals
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2.2.2 Homecare Setting
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2.2.3 Other End-Users
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Patient Lifting Equipment Market Size FAQs
What is the current Patient Lifting Equipment Market size?
The Patient Lifting Equipment Market is projected to register a CAGR of 6.56% during the forecast period (2024-2029)
Who are the key players in Patient Lifting Equipment Market?
Benmor Medical Ltd., GF Health Products, Handicare, Enovis (DJO Global) and Invacare are the major companies operating in the Patient Lifting Equipment Market.