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The patient mechanical lift handling equipment market was valued at USD 1.4 billion in 2020, and it is expected to reach USD 2.29 billion by 2026, registering a CAGR of nearly 8.51% during the forecast period, 2021-2026.
COVID-19 is likely to have a slightly positive effect on the market due to the increased rate of hospitalizations across the world. Mechanical lifts are used for patients with serious debilitating conditions, like those who suffer from chronic disease or for elderly patients. According to a March 2020 CDC study, COVID-19-associated hospitalization rates were higher among the elderly than other age groups. According to the study, hospitalization rates per 100,000 population were 7.4 in those aged 50–64 years, and 13.8 in those aged over 65 years. Rates were the highest among persons aged over 65 years, ranging from 12.2 in those aged 65–74 years to 17.2 in those aged over 85 years. In total, hospitalization rates have also increased significantly due to COVID-19. For example, according to a UK Government status report from January 2021, the weekly overall COVID-19 positive hospital admission rates per 100,000 people went up from below 10 in September 2020 to over 30 in January 2021. Such a high increase in hospitalization rates is expected to positively affect the market demand for mechanical lift handling equipment.
Additionally, the other major factors attributed to the growth of the patient mechanical lift handling equipment market include increasing geriatric population, rising prevalence of chronic diseases, and rising musculoskeletal disorders.
Patient mechanical lift handling equipment are used extensively in transporting a patient from one place to another place. Rising geriatric population and an increase in the prevalence of chronic diseases are expected to boost the demand for patient mechanical lift handling, as both these factors are expected to increase hospitalization rates. In 2019, organizations in the United Kingdom like the Spinal Injuries Association and Aspire and Back Up estimated that around 2,500 people are injured or are diagnosed with a spinal cord injury (SCI) every year in the country. They also estimated that the total number of people living with a spinal cord injury in the United Kingdom was 50,000 in 2019. Patients suffering from SCI need support and continuous monitoring. Mechanical lift handling equipment are used extensively by caregivers while dealing with these types of patients. This is again expected to have a positive effect on the market for mechanical lift handling equipment, which may increase the demand in the market during the forecast period.
Scope of the Report
As per the scope of this report, patient mechanical lift handling equipment refers to assistive devices that allow patients in hospitals and nursing homes and people receiving home healthcare to be transferred between a bed and a chair or other similar resting places.
The market is segmented by product into bath patient lifters, floor-based lifts, overhead/ceiling lifts, powered sit-to-stand lifts, standup and raising lifts, and other products. By end user, the market is segmented into hospitals, home healthcare, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle-East and Africa, and South America. The report offers the value (in USD billion) for the above segments.
|Bath Patient Lifters|
|Powered Sit-To-Stand Lifts|
|Standup and Raising Lifts|
|By End User|
|Other End Users|
Key Market Trends
Overhead/Ceiling Lifts are Projected to Have a Significant Share Over the Forecast Period
Ceiling lift systems are expected to remain very popular during the forecast period. A comprehensive ceiling lift system consists of an overhead track (which can be freestanding or ceiling mounted), a resident sling, and an electric motor. The system applies mechanical force to assist in transferring or repositioning the patient. These types of lifts are important devices for nurses, for whom lift-strain injuries are quite common.
The increasing number of musculoskeletal injuries, rising geriatric population, and disability due to chronic diseases are primary driving factors for the segment growth. According to the latest National Spinal Cord Injury Statistical Center at the University of Alabama at Birmingham, researchers have estimated that as of 2019, there were 17,730 new SCI (spinal cord injury) cases that occur each year. Researchers also estimated that between 249,000 and 363,000 people were living with SCI in the United States in 2019. In 2019, organizations in the United Kingdom like the Spinal Injuries Association and Aspire and Back Up estimated that around 2,500 people are injured or are diagnosed with a spinal cord injury every year in the country. They also estimated that the total number of people living with a spinal cord injury in the United Kingdom was 50,000 in 2019. Patients suffering from SCI need support and continuous monitoring. According to the United States Census Bureau’s Statistics in 2019, the total number of people aged 65 years and older exceeded 54 million, and between 2020-2030, the number of elderly is projected to increase by almost 18 million. Additionally, as the elderly population is more prone to chronic disorders, there is a greater chance of longer stays in hospitals. Mechanical lift handling equipment are used extensively by caregivers while dealing with these types of patients.
Most mechanical lifting equipment that are manually operated are more cost-effective in the long term and easy to use. These developments are likely to drive the adoption of mechanical lift handling products over the forecast period.
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North America is Expected to Hold the Largest Market Share Over the Forecast Period
The major factors driving the growth of the market in the United States are the rising prevalence of various musculoskeletal conditions and the availability of better healthcare infrastructure, as compared to many other countries. Musculoskeletal conditions are one of the most debilitating and expensive conditions in the United States. Back- and spine-related disorders hold a major share among musculoskeletal problems.
According to a World Health Organization report from 2019, musculoskeletal conditions were the leading contributor to disability worldwide, with low back pain being the single leading cause of disability globally. With the increase in age of the US population, musculoskeletal diseases are becoming a huge burden for the country.
According to 2018 data from the Survey of Occupational Injuries and Illnesses, there were 272,780 (or 30%) DAFW (days away from work) cases in the US private sector being musculoskeletal disorder cases. Additionally, according to a July 2020 article by ErgoPlus, musculoskeletal conditions account for almost 400,000 injuries every year in the United States. ErgoPlus estimated the direct costs of musculoskeletal conditions are USD 20 billion a year, while the total costs are estimated to be between USD 45-54 billion. Rising musculoskeletal disorders in the United States are expected to increase the demand for mechanical lift handling equipment during the forecast period.
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The patient mechanical lift handling equipment market is fragmented owing to the presence of various key companies. Some of the market players are Gainsborough Healthcare Group, ARJO, Handicare Group AB, Hill Rom Holding Inc., Invacare Corporation, Joerns Healthcare Inc., Mangar International Inc., Stryker Corporation, Sunrise Medical LLC, and Guldmann Inc.
The competition in the market is majorly based on the pricing of equipment. Additionally, the key players have been involved in various strategic alliances such as acquisitions, collaborations, and launches of advanced products to secure their positions in the global market. For instance, in July 2020, Invacare Corporation partnered with Alber to announce the US introduction of SMOOV one, an innovative and pioneering power-assist solution.
In December 2020, Arjo acquired AirPal, a privately held company specializing in Air-Assisted Lateral Patient Transfer solutions. The deal is likely to strengthen Arjo’s Patient Handling portfolio.
In July 2020, Invacare Corporation partnered with Alber to announce the US introduction of SMOOV one, an innovative and pioneering power-assist solution.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population and Rising Prevalence of Chronic Diseases
4.2.2 Rising Musculoskeletal Disorders and Accidents
4.3 Market Restraints
4.3.1 High Costs of the Equipment
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Bath Patient Lifters
5.1.2 Floor-based Lifts
5.1.3 Overhead/Ceiling Lifts
5.1.4 Powered Sit-To-Stand Lifts
5.1.5 Standup and Raising Lifts
5.1.6 Other Products
5.2 By End User
5.2.2 Home Healthcare
5.2.3 Other End Users
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Gainsborough Healthcare Group
6.1.3 Handicare Group AB
6.1.4 Hill Rom Holding Inc.
6.1.5 Invacare Corporation
6.1.6 Joerns Healthcare Inc.
6.1.7 Mangar International Inc.
6.1.8 Stryker Corporation
6.1.9 Sunrise Medical Inc.
6.1.10 Guldmann Inc.
6.1.11 Medline Industries Inc.
6.1.12 Joerns Healthcare LLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Patient Mechanical Lift Handling Equipment Market market is studied from 2018 - 2026.
What is the growth rate of Global Patient Mechanical Lift Handling Equipment Market?
The Global Patient Mechanical Lift Handling Equipment Market is growing at a CAGR of 8.51% over the next 5 years.
Which region has highest growth rate in Global Patient Mechanical Lift Handling Equipment Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Patient Mechanical Lift Handling Equipment Market?
North America holds highest share in 2020.
Who are the key players in Global Patient Mechanical Lift Handling Equipment Market?
- Handicare Group AB
- Hill Rom Holding Inc.
- Invacare Corporation
- Sunrise Medical Inc.
- Stryker Corporation
Are the major companies operating in Global Patient Mechanical Lift Handling Equipment Market.