The global patient handling equipment market was valued at $9,515.9 million in 2015 and it is expected to grow at a CAGR of 10.5% during 2016-2022. Among the various end users of patient handling equipment, the home healthcare segment is expected to witness the fastest growth, a CAGR of 11.0% during the forecast period.
The global patient handling equipment market is growing at a significant rate due to increasing healthcare expenditure, increasing risk of injuries to caregivers during patient handling and growing geriatric population. The increasing prevalence of chronic diseases and advancements in technology has led to the development of easy to handle and powered patient handling equipment. And the improving healthcare infrastructure in developing countries are also driving the growth of the global patient handling equipment market.
Patient handling equipment are equipment used for safely moving or supporting a patient or any of his body part. The equipment improves working conditions of caregivers by reducing biomechanical overload risk, work-related injury and requires high amount of care and skill technique. In addition, the equipment improves quality of patient care and account for patient safety. The factors such as lack of training provided to caregivers for efficient operation of equipment and difficulty in handling bariatric patients are inhibiting the growth of the global market.
Geographically, Europe dominated the global market of patient handling equipment in 2015; whereas the North American market is expected to witness the fastest growth, a CAGR of 11.0% during the forecast period. This is due to the high awareness among caregivers for safe patient handling and stringent regulations in the region.
Some of the key companies operating in the global patient handling equipment market include Stryker Corporation, Hill-Rom Holdings Inc., Invacare Corporation, Getinge Group, Prism Medical Ltd., Guldmann Inc., LINET Group SE, Joerns Healthcare LLC, Stiegelmeyer-Group, and Handicare.
News Courtesy: P&S Market Research