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The rise in hospital admissions and the growth of the geriatric population are expected to primarily drive the demand for patient lifting equipment in the coming years.
UNITED STATES, Rockville, MD, August 1, 2022 (GLOBE NEWSWIRE) — The global patient lifting equipment market is currently valued at $1.5 billion and is expected to grow at a CAGR of 7.3% through 2027 . These insights were outlined in the latest report from market research analysts and competitive intelligence provider Fact.MR.
Over the past few years, concern for patient safety has increased dramatically, resulting in an increase in the demand for patient lifting equipment in various institutions. The growth in the geriatric population is also expected to benefit the growth potential of the patient lift market in the coming years. Increasing investment in infrastructure development and an increase in the incidence of musculoskeletal injuries are other factors that positively complement the growth of the market.
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A patient lift manufacturer is investing in product development to speed up product launches and increase regional sales potential.
In January 2021, Handicare, a leading provider of accessibility and mobility solutions, announced the launch of a new range of overhead lifts. Launched in North America, the AP Series Portable Ceiling Lift allows paramedics to safely lift patients and provide them with a safe home environment.
The North American patient lift market is expected to become the most profitable market in the world, thanks to a well-developed medical infrastructure and a growing number of elderly people.
The growing number of accidents and disabled people in the region is also expected to drive demand for lifting equipment such as patient lifts, electric patient lifts and medical lift slings during the forecast period. Significant government investment in the healthcare industry and increased R&D activities are also expected to benefit sales of patient lift equipment in North America.
The Asia-Pacific patient lifting equipment market is expected to grow at a strong pace over the next few years due to increased investment in improving medical infrastructure and technological advances in the patient handling equipment industry.
The growing focus on healthcare in countries in the region such as China, India and Japan is expected to boost demand for patient lift equipment in the coming years. The Chinese patient lift market is expected to grow at a staggering CAGR of around 11% during the forecast period.
To learn more about the patient lift market, you can contact our analysts at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7566.
Patient lift equipment suppliers are focusing on launching new products to increase their revenue opportunities and gain a competitive edge over other market players.
In May 2022, Invacare Corporation, a leading brand in the patient lift industry, announced the release of an innovative patient lift solution to the US market. The Birdie™ Evo XPLUS features advanced patient lift technology for maximum comfort and safety when moving patients from chair, floor or bed.
In July 2021, leading stair lift manufacturer AmeriGlide announced the launch of the AmeriGlide UP stair lift. The new stair lift is equipped with innovative features to ensure maximum safety in use.
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Rising numbers of chronic diseases, an increase in the number of older people, a growing obese population, and technological advances in patient care are expected to drive the growth of the market.
The high cost of patient lift systems and the lack of qualified medical personnel are the main factors holding back the growth of the patient lift market.
From 2022 to 2027, the Chinese patient lift equipment market is expected to grow at a staggering 11% average rate.
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Post time: Sep-23-2022