April 20, 2024
Patient Mechanical Lift Handling Equipment Market

The Patient Mechanical Lift Handling Equipment Market set to Flourish as Safety and Comfort Become Priority

The patient mechanical lift handling equipment market consists of products such as wheelchair lifts, stair lifts, ceiling lifts, sit-to-stand lifts, bath lifts, and other patient transfer devices. These assistive products are used in hospitals, clinics, long-term care facilities, and homes to safely move or transfer patients from one surface to another. Mechanical lifts help prevent injury to caregivers by reducing heavy lifting and enable independent mobility for patients with disabilities or reduced abilities. The growing geriatric population suffering from limited mobility and increasing instances of disabilities worldwide have boosted the demand for patient lift equipment. Furthermore, safety regulations mandating the use of lift equipment in healthcare settings to avoid staff injuries are supporting the market growth. 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 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. The aging population prone to disability and chronic diseases has increased the demand for assistive lifting devices across the world. Various governments are introducing favorable regulations and reimbursement policies to increase the adoption of mechanical lifts in healthcare facilities. Technological advancements such as powered lifts with battery backup, lightweight lifts, and lifts with emergency lower functions have improved user safety and comfort.

Market Trends

The rising affordability of mechanical lifts owing to advancements in materials and manufacturing techniques has encouraged widespread adoption. The emergence of app-controlled lifts and integration of user-friendly control panels has enhanced user experience. Multi-functional lifts supporting various transfer methods like weigh scales and stretchers are gaining popularity among healthcare facilities.

Market Opportunities

Continued investment in R&D by key players to develop innovative multi-functional lifts catering to broader patient requirements presents immense opportunities. The growing home healthcare market driven by increasing medical tourism and preference for recuperating at home offers scope to leverage telematics and remote assistance features in mechanical lifts.

Impact of COVID-19 on Patient Mechanical Lift Handling Equipment market growth

The COVID-19 pandemic has adversely impacted the growth of the patient mechanical lift handling equipment market. During the early lockdown period, elective surgeries and non-emergency procedures were postponed which reduced the demand for patient handling equipment from hospitals. However, as the number of COVID-19 cases surged globally, there was a rise in demand for ventilators, patient monitoring devices and other lifesaving equipment leading to disrupted supply chains. This also affected the availability of patient mechanical lift handling equipment. With restrictions now being lifted in many countries, the demand for these devices is increasing again as hospitals try to clear the backlog of postponed treatments and surgeries. However, supply chain challenges persist. Going forward, this market is expected rebound in growth as the pandemic situation eases further but companies will need to focus on managing inventory levels, diversifying suppliers and ramping up production capabilities to minimize future disruptions. Demand for safety features like powered height adjustment in beds and lifting slings will also rise as a result of COVID-19.

Geographical regions with high concentration of Patient Mechanical Lift Handling Equipment market in terms of value

North America currently holds the largest share of the global patient mechanical lift handling equipment market in terms of value. This is attributed to factors like the presence of major market players, growing geriatric population prone to disabilities, increasing healthcare expenditure and well established healthcare infrastructure in the region. Within North America, the United States represents the most lucrative country market owing to rising demand for patient safety and efficient handling solutions from various end users like hospitals, clinics, long term care centers and home care settings. Europe is also among the leading regional markets driven by favorable government policies supporting disability aids and an emphasis on safety standards and worker protection in healthcare facilities.

Fastest growing regional market for Patient Mechanical Lift Handling Equipment

The Asia Pacific region is poised to witness the fastest growth in the patient mechanical lift handling equipment market over the forecast period. This is owing to factors like growing medical tourism industry, rapidly improving healthcare infrastructure, rising incomes and expanding medical insurance coverage leading to greater acceptability ofhigh-end lifesaving devices. Additionally, aging population vulnerable to disabilities is surging the demand from countries like China, Japanand India. China represents one of the most opportunistic emerging markets due to its huge patient pool, increasing healthcare investments and developing hospital infrastructure and network. Other fast developing Asian economies including Indonesia, Vietnam and Thailand also offer lucrative prospects for market players.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it