Patient Lateral Transfer Devices Market Size

Statistics for the 2023 & 2024 Patient Lateral Transfer Devices market size, created by Mordor Intelligence™ Industry Reports. Patient Lateral Transfer Devices size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Patient Lateral Transfer Devices Industry

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Patient Lateral Transfer Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 8.50 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Patient Lateral Transfer Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Patient Lateral Transfer Devices Market Analysis

The patient lateral transfer devices market is expected to register a CAGR of 8.5% over the forecast period.

Due to the COVID-19 public health emergency, the demand for patient lateral transfer devices had slightly decreased due to the decrease in the number of surgical procedures. On the other hand, emerging complications with the SARS-CoV-2 virus have increased surgical complications post covid era, ultimately increasing the total number of surgeries performed within the countries. For instance, as per the article published in PubMed Central in December 2021, patients may develop severe pulmonary complications following the resolution of COVID-19, which can continue for months and influence the quality of life, I.C.U. hospitalization, or even death. Thus, the growing need for hospitalization will, in turn, propel patient lateral transfer devices across healthcare settings, thereby impelling market growth over the coming years.

The major factors contributing to the growth of the patient lateral transfer devices market are the increasing geriatric population and the rising burden of chronic diseases. According to the data from World Population Prospects 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age 5 and about the same as the number of children under age 12. Thus, the aging population is more prone to various chronic diseases which are expected to increase the demand for patient lateral transfer devices over the forecast period.

Therefore, the demographic trends pertaining to the aging population and the rising incidences of chronic diseases have led to the longer stay of patients in hospitals, which may increase the demand for patient lateral transfer devices over the forecast period, as they help transfer patients from their beds for any urgent medical purposes. According to the WHO data updated in July 2022, musculoskeletal diseases (MSD) are the main cause of disability globally, that affected 1.71 billion people globally in 2021. Thus, the burden of MSD globally is expected to drive demand for orthopedic splints, contributing to the overall market growth.

Moreover, the growing number of surgical procedures further leads to longer stays in hospitals, which is also a major factor driving the demand for patient lateral transfer devices. For instance, as per the American Health Association, in 2022, operating rooms resumed their activities and observed an upsurge in medical health treatments and surgeries, leading to only a 10% lower rate of surgery in comparison to the previous years.

However, the lack of a skilled workforce for handling the transfer of patients is one of the key factors hampering the growth of the market.

Patient Lateral Transfer Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)