Market Trends of Patient Lifting Equipment Industry
This section covers the major market trends shaping the Patient Lifting Equipment Market according to our research experts:
Mobile Lifts are Expected to Hold A Significant Market Share Over the Forecast Period
Mobile lifts are patient lifts that can roll on the floor and eases movement between different locations, rooms, and users. Mobile lifts are very flexible and versatile as they offer a great alternative solution for temporary lifting needs when the exact location of lifting needs is not known beforehand or where it is just impossible to install a ceiling lift system. Moreover, lifting a patient manually can also cause physical strain to the caregiver, who can injure themselves as they try to carry patients. The situation may become even more complicated if the person cannot move or stand up on their own. Thus, mobile lifts are essential to homes and healthcare facilities. Owing to this ease of mobility and safety for caregivers, the demand for mobile lifts is expected to increase in the future.
The rising geriatric population is a major factor driving the market's growth because mobile lifts are mainly used for older patients. For instance, according to the data published by United Nations in 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. It is also estimated that by 2050, the number of people aged 65 years or above worldwide will be more than twice the number of children under 5 years and about the same as that of children under 12 years.
Therefore, the mobile lifts segment is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America Holds A Significant Share in the Studied Market
North America is expected to hold a significant share of the market owing to the easy availability of technologically advanced products and high awareness among consumers about patient lifting equipment.
The increasing risk of injuries of caregivers while manual patient handling is a significant factor driving the segment's growth. For instance, according to Pivotal Health Solutions in June 2021, manual patient handling put nursing staff at risk of developing musculoskeletal injuries. Prolonged static holds and counter-pressure tasks were considered high risk for potential injury. At the same time, manual patient handling was thought to cause caregiver injury even when patients were being handled manually in routine situations.
Furthermore, key developments by companies and product launches, the high concentration of market players, and the presence of manufacturers in the United States and Canada are some of the factors driving the growth of the market studied in the region. For instance, in January 2021, Handicare, a global leader in mobility and accessibility solutions, launched the AP-Series Portable Ceiling Lifts in North America, representing the next generation in portable ceiling lift technology. The AP-Series offer industry-first features benefitting people with disabilities and their caregivers, making their home more accessible while creating a safer care environment. These key developments in the region are anticipated to drive the market's growth in the country.
Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the North American region.
