Patient Mechanical Lift Handling Equipment Market is in Trends by Increasing Geriatric Population and Workplace Safety Regulations

Patient Mechanical Lift Handling Equipment Market 


 The patient mechanical lift handling equipment market comprises products such as slings, stand-up lifts, sit-to-stand lifts, bed accessories, patient transfer devices, medical air mattresses and relevant accessories that assist nurses and caregivers in handling patients safely. These equipment enhance safety of both patients and caregivers by reducing risk of injuries through manual lifting and handling of patients. They provide maximum comfort to patients during transferring or lifting activities.

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 2024 to 2030.

Key Takeaways
Key players operating in the patient mechanical lift handling equipment 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.

The increasing geriatric population suffering from limited mobility and chronic illnesses is the key factor driving the growth of the market. According to the United Nations, the share of global population aged 60 or above is projected to double from 12% to 22% between 2015 and 2050. Moreover, favorable government initiatives and regulations regarding workplace safety are promoting the adoption of patient mechanical lift handling equipment across healthcare facilities.

Geographically, North America dominates the patient mechanical lift handling equipment market due to high healthcare expenditures, availability of advanced products and rising prevalence of chronic diseases. However, Asia Pacific is expected witness highest CAGR during the forecast period owing to increasing healthcare infrastructure development in emerging economies such as China and India.

Market Key Trends
The demand for ceiling lifts and sling lifts is increasing rapidly as these equipment provide one-on-one complete body support to patients reducing risks of injuries during transfers and lifting. Technological advancements including Wi-Fi enabled tracking systems and battery backups are being incorporated in latest electric bariatric lifts increasing their adoption. Moreover, growing demand for rental or leasing services offers cost-effective solution to healthcare facilities with requirement of lift equipment for short-term use, driving this trend.

Porter’s Analysis
Threat of new entrants: New companies will face high costs to manufacture mechanical patient lift equipment that conforms to quality and safety standards and develop brand recognition.

Bargaining power of buyers: Individual buyers have little influence over prices, but group purchasing organizations can negotiate lower costs from suppliers.

Bargaining power of suppliers: A few large companies dominate the supply of key lift equipment components like motors and slings, allowing them to influence prices.

Threat of new substitutes: No close substitutes currently replace mechanical lifts for safely transferring patients who have limited mobility.

Competitive rivalry: Major lift equipment brands compete on product quality, features and customer service while differentiating portfolios.

Geographical Regions
North America dominates the global patient mechanical lift handling equipment market in terms of value due to the presence of major manufacturers, rising geriatric population and increasing healthcare expenditure.
Asia Pacific is projected to be the fastest growing regional market between 2024 to 2030 supported by growing medical infrastructure, raising living standards and bulk purchases from hospitals in China and India.

For more details on the report, Read- Patient Mechanical Lift Handling Equipment Market

 

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