by Patient lateral transfer devices help patients move safely between beds or wheelchairs and gurneys. These devices reduce manual lifting and provide support to patients, preventing injuries to caregivers from lifting patients unassisted. They offer features like being lightweight and portable for ease of use.
The global Patient Lateral Transfer Devices Market is estimated to be valued at US$ 350.91 Mn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising demand for enhancing patient care and safety is driving the patient lateral transfer devices market. Patient transfer is a critical activity that requires proper handling to prevent fall and injury to patients as well as caregivers. Lateral transfer devices ensure risk-free transfer of patients from one surface to another by providing stability and support. They take pressure off caregivers and reduce the risk of work-related injuries. This has increased demand among healthcare facilities for such devices for safer transfer of patients. Their advantages of safety, usability and cost-effectiveness are boosting their adoption.
SWOT Analysis
Strength: Patient lateral transfer devices offer improved safety, comfort and mobility to patients and caregivers. They reduce the physical strain and risk of injury to caregivers during patient transfers.
Weakness: High costs associated with these specialized medical devices may limit their adoption in budget constrained healthcare facilities.
Opportunity: Growing elderly population and rising number of surgeries are driving the demand for safe patient handling equipment. Rapid advancements in material science can help develop lighter and more ergonomic transfer devices.
Threats: Low compliance with safety standards and guidelines in some regions poses risk of work injuries. Reimbursement policies also impact the selling price of medtech products.
Key Takeaways
The Global Patient Lateral Transfer Devices Market Growth is expected to witness high growth driven by aging populations worldwide and greater safety emphasis in healthcare settings.
Regional analysis
North America currently dominates the market due to stringent compliance with handling regulations and expanding medtech industry in the region.
Europe is anticipated to be the fastest growing regional market owing to rising health expenditures and growing emphasis on reducing work-related musculoskeletal disorders (MSDs) among caregivers. Countries like Germany, UK, and France have stringent safe patient handling norms and standards that are driving adoption of lateral transfer devices.
Key players
Key players operating in the patient lateral transfer devices market are Stryker Corporation, Hill-Rom Holdings Inc., Arjo, Handicare AB, Etac AB, Sizewise, McAuley Medical Inc., Medline Industries Inc., Samarit Medical AG, Blue Chip Medical, Haines Medical Australia, Scan Medical Co Inc., Wy’East Medical, GBUK Banana, AliMed Inc., Cantel Medical Corporation, EZ Way Inc., and Patient Positioning Systems LLC.
Stryker Corporation and Hill-Rom Holdings Inc. are currently the top two players in the patient lateral transfer devices market with a wide product portfolio and global footprint. Newer entrants like Arjo and Handicare AB are gaining market share through innovative material science-enabled products and focus on emerging markets like Asia Pacific. All key players are engaged in new product development and strategic acquisitions to enhance their market position and offerings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
