Patient Handling Equipment Market Share & Size Worth USD 18.98 Billion in 2032

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Increasing government funding and product approvals for healthcare is a key factor driving patient handling equipment market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, May 22, 2023 /EINPresswire.com/ — The latest report, titled ‘Global Patient Handling Equipment Market,’ comprises a profound analysis of the fundamental parameters contributing to the global Patient Handling Equipment market scenario. The research report provides the reader with an in-depth interpretation of the Patient Handling Equipment market dynamics, including the crucial drivers, opportunities, threats, and challenges. The report also describes the key business strategies, demand and supply ratios, leading regions, and the renowned market players, in a nutshell, offering a futuristic outlook of the overall Patient Handling Equipment industry. The market intelligence report is a prototype of the 360° overview of the global Patient Handling Equipment industry, shedding light on the estimated market value, share, growth trends, gross revenue, competitive overview, prominent manufacturers and buyers, available product types, and end-use applications.

The global patient handling equipment market size reached USD 10.40 Billion in 2022 and is expected to register a revenue CAGR of 6.2% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of different diseases, increasing elderly population, and increasing government funding for healthcare are some of the key factors driving revenue growth of the global patient handling equipment market. Advancements in medical technology is another factor boosting growth of this market.

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Increasing government funding and product approvals for healthcare is another key factor increasing revenue growth of this market. For instance, on 5 August 2020, FDA approved the adoption of Artificial Intelligence (AI) for healthcare facilities, which the organization defines as “the science and engineering of making intelligent machines,” is being used by healthcare organizations for a growing number of clinical, administrative, and research purposes. For instance, this AI software can assist healthcare providers in diagnosing diseases, monitoring patients health, and assisting with rote functions such as patient scheduling. It can be used for a variety of tasks, such as automating tasks, identifying patterns in data, and synthesizing information from multiple sources.

Patient Handling Equipment Market Segmentation:

The report bifurcates the Patient Handling Equipment market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Emergen Research has segmented the global patient handling equipment market on the basis of product type, care, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2019-2032)

Ambulatory aids

Patient lifts

Stretchers and wheelchairs

Medical beds

Slings

Others

Care Outlook (Revenue, USD Billion; 2019-2032)

Accessory

Lifting

Transfer

Wound care

Critical care

Others

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals and clinics

Ambulatory services

Others

Key Highlights from the Report

Wound care segment accounted for the largest revenue share in 2021. According to the National Center for Biotechnology Information, one to two million individuals across Europe have acute or chronic wounds. According to prevalence studies conducted in the United Kingdom and Denmark, three to four citizens out of every thousand have one or more wounds. Based on that, it is estimated that 3,500 people out of a population of 1 million will be living with a wound, 525 of whom will have had it for more than a year. Hospitals, non-acute healthcare facilities, and community care settings manage these wounds for this purpose.

Ambulatory services segment accounted for a significant revenue share in 2022. Ambulatory Surgical Centers (ASC) are becoming more popular as outpatients who do not need to be admitted to the hospital for an extended period of time can avail faster treatment. Doctors have more control over their work in ASCs, and as a result, can provide better pre-and post-operative care to patients because they are more approachable. Furthermore, outpatient surgery centers are typically more accessible geographically. ASC is the best option for patients, particularly those looking for joint replacement surgeries, as well as their families.

Patient handling equipment market in Europe accounted for largest revenue share in 2022 due to the increasing aging population in countries in this region. Italy had the highest proportion of elderly individuals across Europe in 2021. According to the research, 23.5 percent of the total population was 65 years or older. Furthermore, Finland, Greece, and Portugal were ranked higher in elderly population. Europe has the world’s oldest population, which is approximately one billion individuals in the world who are 60 years or older. As a result, rising elderly population is expected to continue to drive growth of the market in this region.

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It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.

The report also discusses the key players involved in the market such as

Medtronic, Stryker, Joerns Healthcare LLC., Handicare Inc., Prism Medical Products, LLC, Stiegelmeyer GmbH & Co. KG, GF Health Products, Inc., Etac AB., Arjo, Lepu Medical Technology (Beijing) Co., Ltd.

Global Patient Handling Equipment Market Highlights:

Regional demand estimation and forecast

Product Mix Matrix

R&D Analysis

Cost-Benefit Analysis

Pre-commodity pricing volatility

Supply chain optimization analysis

Technological updates analysis

Raw Material Sourcing Strategy

Competitive Analysis

Mergers & Acquisitions

Location Quotients Analysis

Carbon Footprint Analysis

Patent Analysis

Vendor Management

Regional Landscape section of the Patient Handling Equipment report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Highlights of Table of Contents (TOC):

Overview of Global Patient Handling Equipment Market

Competitive analysis of the Patient Handling Equipment market

Regional analysis of Global Patient Handling Equipment market production and revenue

Regional analysis of Global Patient Handling Equipment market supply, consumption, and export & import

Type-based market analysis of global Patient Handling Equipment production, revenue, and price trends

Application-based analysis of the global Patient Handling Equipment market

Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Patient Handling Equipment market

Global Patient Handling Equipment market forecast (2020-2027)

Conclusion of the research report

Appendix

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