What Is The Patient Handling Equipment Market Overview In 2022?
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The patient handling equipment market is forecasted to achieve high growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 3%, as per The Business Research Company’s market report!
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The Patient Handling Equipment Market Size In 2022 And Forecast
The global patient handling equipment market is expected to grow from $19.31 billion in 2021 to $20.35 billion in 2022 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The patient handling equipment market is expected to grow to $23.19 billion in 2026 at a CAGR of 3.3%.
The patient handling equipment market consists of sales of patient handling equipment and related services by entities (organizations, sole traders, and partnerships) that manufacture patient handling equipment.
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Increase In Geriatric Population Is Driving The Growth Of The Patient Handling Equipment Market
According to United Nations, Department of Economic and Social Affairs, 1 in 11 people in the world were over the age of 65 in 2019 and this number is expected to increase to 1 in 6 people by the end of 2050. Moreover, the number of people globally over the age of 65 is expected to increase from 703 million in 2019 (constituting 9% of the world population) to 1.5 billion by the end of 2050. Therefore, an increase in the size of the geriatric population is anticipated to boost the demand for the patient handling equipment market during the forecast period.
Competitive Landscape And The Regional Analysis Of The Patient Handling Equipment Market
Major players in the patient handling equipment market are ArjoHuntleigh Inc., Hill-Rom Holdings Inc., Invacare Corporation, Stryker Corporation, Drive Divilbiss Healthcare Inc., ETAC AB, Gf Health Products Inc., Guldmann, Inc., Handicare Group AB, and Joerns Healthcare LLC.
The Patient Handling Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the patient handling equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the patient handling equipment market.
Patient Handling Equipment Market Segmentation By The Business Research Company
1) By Product Type: Wheelchairs, Mobility Scooters, Medical Beds, Patient Transfer Equipment, Other Product Types
2) By Care Type: Critical Care, Fall Prevention, Bariatric Care, Wound Care, Other Care Types
3) By End-User: Biopharmaceutical And Pharmaceutical Companies, Research Institutes, Homecare, Hospitals, Other End-Users
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