by Patient mechanical lift handling equipment are medical devices specially designed for lifting and transferring patients safely with minimal physical strain on caregivers. Such equipment come equipped with slings, straps and lifting poles to aid mobility impaired patients.
The global Patient Mechanical Lift Handling Equipment Market is estimated to be valued at US$ 2124.06 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising prevalence of chronic and lifestyle diseases has propelled the demand for patient mechanical lift handling equipment. According to World Health Organization (WHO), chronic diseases are the leading cause of mortality in the world, representing 60% of all deaths. Chronic conditions like diabetes, cancer, heart disease are rising globally due to factors such as physical inactivity, tobacco use and unhealthy diet. With growing geriatric population and increasing incidence of disabilities, there is greater risk of injuries to caregivers from manual handling of patients. Mechanical patient lifts help in minimizing caregiver effort and risk of musculoskeletal injuries which is driving the adoption of such equipment in healthcare settings. Technological advancements in ergonomic designs and remote monitoring capabilities are further fueling the patient mechanical lift handling equipment market growth.
SWOT Analysis
Strength: Patient mechanical lift handling equipment can help reduce risks of injuries to caregivers from manual patient lifting. They allow for safer transfer of patients.
Weakness: High installation and maintenance costs of patient mechanical lift handling equipment can be prohibitive for some healthcare facilities. Patients may feel less independent with their use.
Opportunity: Growing elderly population susceptible to mobility issues and injuries creates demand for products that can safely lift and transfer patients. Technologies enabling even safer and gentler lifting will find more users.
Threats: Low reimbursement rates can deter some hospitals from investing in lifts. Economic downturns may cause healthcare budgets to shrink and defer equipment upgrades.
Key Takeaways
The global patient mechanical lift handling equipment market is expected to witness high growth. Global Patient Mechanical Lift Handling Equipment Market Demand is estimated to be valued at US$ 2124.06 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024 to 2031.
The Asia Pacific region is expected to grow the fastest in the patient mechanical lift handling equipment market during the forecast period. This is due to the large populations and improving healthcare infrastructure in countries such as China and India. North America currently dominates the market due to stringent safety guidelines and the high demand for quality care equipment from its developed healthcare infrastructure and reimbursement system.
Key players
Key players operating in the patient mechanical lift handling equipment market are Smith & Nephew PLC, Mölnlycke Health Care AB, Ethicon Inc. (JOHNSON & JOHNSON), Medtronic, 3M, Beiersdorf AG, Urgo Medical, Dynarex Corporation, Winner Medical Group, Inc., McKesson Corporation, Cardinal Health, 3L Medicinal Products Group, B. Braun Melsungen AG, Paul Hartmann AG.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
