Market Size of Patient Mechanical Lift Handling Equipment Industry
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 1.96 Billion |
| Market Size (2029) | USD 2.71 Billion |
| CAGR (2024 - 2029) | 6.68 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
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 Mechanical Lift Handling Equipment Market Analysis
The Patient Mechanical Lift Handling Equipment Market size is estimated at USD 1.96 billion in 2024, and is expected to reach USD 2.71 billion by 2029, growing at a CAGR of 6.68% during the forecast period (2024-2029).
COVID-19 had a slightly positive effect on the market due to the increased rate of hospitalizations across the world. Mechanical lifts are used for patients with serious debilitating conditions, like those who suffer from chronic disease, or for elderly patients. According to a March 2020 CDC study, COVID-19-associated hospitalization rates were higher among the elderly than in other age groups. According to the study, hospitalization rates per 100,000 population were 7.4 in those aged 50-64 years and 13.8 in those aged over 65 years. Rates were the highest among persons aged over 65 years, ranging from 12.2 in those aged 65-74 years to 17.2 in those aged over 85 years. In total, hospitalization rates have also increased significantly due to COVID-19. For example, according to a UK Government status report from January 2021, the weekly overall COVID-19 positive hospital admission rates per 100,000 people went up from below 10 in September 2020 to over 30 in January 2021. Such a high increase in hospitalization rates is expected to positively affect the market demand for mechanical lift-handling equipment.
Additionally, the other major factors attributed to the growth of the patient mechanical lift handling equipment market include the increasing geriatric population, rising prevalence of chronic diseases, and rising musculoskeletal disorders.
Patient mechanical lift handling equipment is used extensively in transporting a patient from one place to another place. The rising geriatric population and an increase in the prevalence of chronic diseases are expected to boost the demand for patient mechanical lift handling, as both these factors are expected to increase hospitalization rates. European Health Interview Survey (EHIS) September 2022 reported that more than one-third of the European Union elderly population with difficulty in household activities reported a lack of assistance with those activities. Such a high need for assistance in the elderly population grows the demand for patient mechanical lift handling equipment and drives the market during the forecast period. For instance, as per World Population Prospects 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age five and about the same as the number of children under age 12. Thus, the geriatric population is more prone to various chronic conditions, which is expected to increase the need for patient mechanical lift handling equipment, which is further expected to boost the growth of the market over the forecast period.
Moreover, in January 2021, Handicare launched its AP-Series Portable Ceiling Lifts in North America. The AP-Series' heavy-duty smart batteries offer increased lifting capacity on a single charge. The features include the SafeGuardHook and ActiveSenseTilt Detection.
Mechanical lift-handling equipment is used extensively by caregivers while dealing with these types of patients. This is again expected to have a positive effect on the market for mechanical lift handling equipment, which may increase the demand in the market during the forecast period. However, the high costs of the equipment are expected to hinder the growth of the market over the forecast period.
Patient Mechanical Lift Handling Equipment Industry Segmentation
As per the scope of this report, patient mechanical lift handling equipment refers to assistive devices that allow patients in hospitals and nursing homes and people receiving home healthcare to be transferred between a bed and a chair or other similar resting places.
The Patient Mechanical Lift Handling Equipment Market is Segmented by Product (Bath Patient Lifters, Floor-based Lifts, Overhead/Ceiling Lifts, Powered Sit-To-Stand Lifts, Standup and Raising Lifts, and Other Products), End User (Hospitals, Home Healthcare, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Product | |
| Bath Patient Lifters | |
| Floor-based Lifts | |
| Overhead/Ceiling Lifts | |
| Powered Sit-To-Stand Lifts | |
| Standup and Raising Lifts | |
| Other Products |
| By End User | |
| Hospitals | |
| Home Healthcare | |
| Other End Users |
| Geography | ||||||||
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Patient Mechanical Lift Handling Equipment Market Size Summary
The patient mechanical lift handling equipment market is poised for significant growth over the forecast period, driven by several key factors. The increasing geriatric population and the rising prevalence of chronic diseases are major contributors to the demand for these devices, as they facilitate the safe and efficient transportation of patients with mobility challenges. The market has also benefited from the COVID-19 pandemic, which led to a surge in hospitalizations, particularly among the elderly, thereby boosting the need for mechanical lifts. Additionally, the growing incidence of musculoskeletal disorders and spinal cord injuries further underscores the necessity for such equipment in healthcare settings. Innovations in product offerings, such as Handicare's AP-Series Portable Ceiling Lifts, are expected to enhance market growth by providing advanced features that improve patient handling efficiency.
In the United States, the market is bolstered by a robust healthcare infrastructure and a high prevalence of musculoskeletal conditions, which necessitate the use of mechanical lift handling equipment. The increasing number of hospital admissions, driven by conditions such as cancer and heart diseases, further propels the demand for these devices. The fragmented nature of the market, with key players like Invacare Corporation, Stryker Corporation, and Handicare Group AB, indicates a competitive landscape where continuous innovation and product development are crucial. Despite the high costs associated with these equipment, their long-term cost-effectiveness and ease of use are likely to drive adoption, ensuring sustained market growth during the forecast period.
Patient Mechanical Lift Handling 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 Increasing Geriatric Population and Rising Prevalence of Chronic Diseases
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1.2.2 Rising Musculoskeletal Disorders and Accidents
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1.3 Market Restraints
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1.3.1 High Costs of the Equipment
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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
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2.1 By Product
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2.1.1 Bath Patient Lifters
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2.1.2 Floor-based Lifts
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2.1.3 Overhead/Ceiling Lifts
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2.1.4 Powered Sit-To-Stand Lifts
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2.1.5 Standup and Raising Lifts
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2.1.6 Other Products
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2.2 By End User
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2.2.1 Hospitals
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2.2.2 Home Healthcare
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2.2.3 Other End Users
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2.3 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 Mechanical Lift Handling Equipment Market Size FAQs
How big is the Patient Mechanical Lift Handling Equipment Market?
The Patient Mechanical Lift Handling Equipment Market size is expected to reach USD 1.96 billion in 2024 and grow at a CAGR of 6.68% to reach USD 2.71 billion by 2029.
What is the current Patient Mechanical Lift Handling Equipment Market size?
In 2024, the Patient Mechanical Lift Handling Equipment Market size is expected to reach USD 1.96 billion.
