MOBILE PATIENT LIFTS MARKET REPORT OVERVIEW
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The global mobile patient lifts market size is estimated to be USD 1.9789 billion in 2022 and the market is projected to touch USD 2.8391 billion by 2028, with a growing CAGR of 6.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with mosquito repellent bracelets experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
Mobile patient lifts allow patients to transfer between a bed and a chair. The equipment uses electrical or hydraulic power while shifting. It is an assistive device used in hospitals and nursing homes. The lifts are commonly used for patients whose mobility is limited.
Growing bariatric and geriatric population globally is expected to propel market growth. High incidence of musculoskeletal injuries is predicted to surge market growth. Rapid demand for the equipment in healthcare and nursing homes is projected to drive market expansion. Growing development in healthcare types of equipment is anticipated to accelerate market expansion in the forthcoming years. High demand for quick and comfortable treatment is estimated to boost product demand. Increasing investment by major market players to develop advanced technology is anticipated to accelerate market growth. Rising awareness about healthcare services is predicted to offer lucrative opportunities for the market growth. Growing number of research and development (R&D) activities is projected to drive market performance. However, high cost and lack of awareness associated with the device is anticipated to hamper market progress during the forecast period.
COVID-19 Impact: Growing Number of Coronavirus Cases to Incite Market Growth
COVID-19 pandemic had a positive impact on the market. Increasing number of patients got admitted during pandemic boosted market expansion. The impact of COVID-19 pandemic overall was recorded to be fairly positive. Growing demand for the equipment in the healthcare sector increased market growth. Rising investment in resources and materials fuel market progress. Growing need for the devices globally anticipated to accelerated market growth during the pandemic.
LATEST TRENDS
"Growing Awareness about Mobile Patient Lifts to Foster Market Growth"
High awareness about the equipment in healthcare and nursing homes is projected to drive market growth. Growing need for patient safety and comfort is anticipated to accelerate market growth. Rapid development in healthcare technology is predicted to surge market growth. Government initiatives to adopt advanced technology in healthcare sector are expected to expand market opportunities. Further, market players are adopting inorganic growth strategies such as buying a stake in a new company to acquire the company in the coming years. For instance, in July 2019, Arjo company adopted a mobility solution by acquiring an equally stake with Altas Lift tech. Such a process is anticipated to fuel market progress in the forthcoming years.
MOBILE PATIENT LIFTS MARKET SEGMENTATION
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- By Type
Based on type, the market is divided into power patient lifts and manual patient lifts.
Power patient lifts are expected to be the leading part of the segmentation type.
- By Application
Based on the application, the market is divided into hospital, nursing homes, old folks’ homes, and others.
Hospital is expected to be the leading part of application segmentation.
DRIVING FACTORS
"Growing Number of Spinal Cord Injuries to Stimulate Market Expansion "
Increasing number of spinal cord injuries is predicted to surge market growth. Growing prevalence of accidents and disabilities is predicted to surge product adoption in healthcare sector. Increasing number of trained medical professionals is anticipated to accelerate market growth. Growing bariatric and geriatric population globally is estimated to propel market growth. High incidence of musculoskeletal injuries is predicted to surge market growth. Rising incidence of chronic diseases is predicted to fuel market performance during the forecast period. Rising number of product launches is anticipated to accelerate market growth in the forthcoming years. The product is commonly used for patients whose mobility is limited. Growth in healthcare sector is anticipated to fuel mobile patient lifts market growth.
"Advantages Associated with the Equipment to Accelerate Market Performance "
The equipment has multiple advantages, such as convince and time saving, which is projected to drive market growth. Further, the product is designed in such a way which is high-quality and easy to handle. The product helps patients to transfer from one place to another comfortable. It can keep patients for a long time due to its comfort. The product is also space-saving. Such advantages of the equipment are anticipated to accelerate market performance during the forecast period. The product reduces the risk of injuries. The product helps to move patients in all directions. The product is beneficial to reduce damage to both carer and dependent is anticipated to accelerate market growth.
RESTRAINING FACTORS
High cost of the product is anticipated to hinder market performance. Lack of awareness associated with the device is anticipated to hamper market progress during the forecast period. Further, the need for a skilled person to operate the device is projected to restrict market growth.
MOBILE PATIENT LIFTS MARKET REGIONAL INSIGHTS
"Growing Number of Disabilities and Accidents in North America to Drive Market Share "
North America is anticipated to account major mobile patient lifts market share due to increasing number of accidents and disabilities. Presence of major market players in the region is anticipated to accelerate market growth. Increasing number of spinal cord injuries is predicted to surge market growth. Growing bariatric and geriatric population globally is estimated to propel market growth. High incidence of musculoskeletal injuries is predicted to surge market growth. Rising incidence of chronic diseases is predicted to fuel market performance during the forecast period. Rising number of product launches is anticipated to accelerate market growth in the forthcoming years.
Asia Pacific is projected to experience significant market growth due to growing bariatric and geriatric population. Rapid demand for the equipment in healthcare and nursing homes is projected to drive market expansion. Growing development in healthcare equipment’s is anticipated to accelerate market expansion in the forthcoming years. High demand for quick and comfort treatment is estimated to boost product demand. Increasing investment by major market players to develop advanced technology is anticipated to accelerate market growth.
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KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- ArjoHuntleigh (India)
- Hill-Rom (U.S.)
- INVACARE (U.S.)
- DeVilbiss Healthcare (Australia)
- Handicare (U.S.)
- Joerns Healthcare (U.S.)
- GAINSBOROUGH (Australia)
- Prism Medical (U.K.)
- Hengyi (China)
- Guldmann (U.S.)
- AKS (India)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 1.9789 Billion in 2022 |
| Market Size Value By | US$ 2.8391 Billion by 2028 |
| Growth Rate | CAGR of 6.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Types & Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is the mobile patient lifts market expected to touch by 2028?
The global mobile patient lifts market is expected to reach USD 2.8391 billion by 2028.
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What CAGR is the mobile patient lifts market expected to exhibit by 2028?
The mobile patient lifts market is expected to exhibit a CAGR of 6.2% by 2028.
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Which are the driving factors of the mobile patient lifts market?
Drivers of this mobile patient lifts market are growing number of spinal cord injuries and advantages associated with the equipment.
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Which are the top companies operating in the mobile patient lifts market?
ArjoHuntleigh, Hill-Rom, INVACARE, DeVilbiss Healthcare, Handicare, Joerns Healthcare, GAINSBOROUGH, Prism Medical, Hengyi, Guldmann, and AKS.
