April 13, 2024
Patient Mechanical Lift Handling Equipment Market

Patient Mechanical Lift Handling Equipment Market Set to Flourish Due to Growing Geriatric Population and Rising Musculoskeletal Conditions

Patient mechanical lift handling equipment assist healthcare workers in moving patient from one place to another. These equipment are immensely helpful for wounded, disabled and older patients who lack mobility. Some common mechanical lifts include ceiling lifts, stair lifts, sit-to-stand lifts, full body sling lifts, stand up lifts and more. These equipment enhance patient independence, dignity and safety during transfer. They also help in preventing work related musculoskeletal injuries among caregivers. The growing geriatric population, rising prevalence of disabilities and work safety regulations are propelling the demand for such equipment. The global patient mechanical lift handling equipment market is estimated to be valued at US$ 2124.06 Mn in 2024 and is expected to exhibit a CAGR of 3.4% over the forecast period of 2024 to 2030.

Key Takeaways

Key players operating in the Global 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. These players are focusing on new product launches, acquisitions and geographical expansions to strengthen their market presence.

The market provides significant opportunities for players dealing in assistive medical devices. With growing disability rates, the demand for safe patient transfer equipment is surging across all healthcare settings. Players can increase investments in R&D to develop advanced lifts tailored for specific patient conditions.

The global expansion of key players is evident from their presence across developed markets of North America and Europe as well as emerging countries of Asia Pacific and Latin America. The burgeoning medical tourism industries in Asia and Latin America are attracting international players to set up manufacturing units and distribution networks in these regions.

Market Drivers
The key drivers contributing to the growth of patient mechanical lift handling equipment market are-

– Rising geriatric population- The proportion of elderly people above 65 years is steadily increasing worldwide. They are more prone to disabilities, musculoskeletal issues and require assistance during transfer raising the demand for lifts.

– Increasing prevalence of obesity and musculoskeletal conditions- Conditions like obesity, osteoarthritis etc. impair mobility and flexibility making patients dependent on mechanical aids. This is boosting the market growth.

Market Restraints
High cost of advanced equipment is one of the major challenges for widespread adoption, especially in price sensitive developing markets. Lack of reimbursement policies for such devices in some countries also restricts the market growth.

Segment Analysis
This market can be segmented into ceiling lifts, strap lifts, stand up lifts, sit to stand lifts, wheelchair lifts and pool lifts. The ceiling lifts segment is currently dominating the market due to its ability to efficiently handle patient transfers with minimum manual effort. Ceiling lifts provide full body support to patients and the caregiver can move the patient from bed to wheelchair or commode chair easily with a simple handset control. This reduces caregiver injuries and allows pain-free movement for patients.

Global Analysis
Regionally, North America is expected to remain the fastest growing region in this market during the forecast period owing to increasing elderly population, rising cases of disabilities, growing awareness about patient safety and improving healthcare infrastructure in the region. The Asia Pacific region is expected to be the second largest and fastest growing market due to growing medical tourism, increasing healthcare spending and expanding medical facilities in countries like China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it