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Analyzing the Growth Rate of the Patient Handling Equipment Market: What’s the Expected CAGR for the Next Decade?

The market for patient handling equipment has seen a significant expansion in its size over the past few years. The growth is expected to continue, with projections indicating a rise from $19.18 billion in 2024 to $23.07 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 20.3%. The historic growth can be associated with a number of factors; for example, an aging population, increased spending on healthcare, a rise in chronic diseases, robust economic development in emerging markets, and regulations encouraging disability-friendly environments.

Strong expansion is anticipated in the patient handling equipment market over the coming years, with projections suggesting growth to $31.24 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 7.9%. Factors contributing to this predicted growth in the forecast period encompass developments in healthcare infrastructure, increasing healthcare expenditures, and a rapidly aging population. The forecast period is also expected to witness significant trends such as the incorporation of sensors and intelligence in wheelchairs to minimize human intervention, significant investments in R&D for the creation of effective and novel treatments, strategic partnerships to stimulate innovation, leadership in product and service categories, and the employment of RFID technology to improve the patient experience.

What Industry-Specific Factors Are Fueling the Growth of the patient handling equipment Market?

The proliferation of the aged demographic in most nations contributes to the expansion of the patient handling equipment market. The elderly demographic represents a greater proportion of hospital admissions due to an increased likelihood of developing chronic and other illnesses, thus creating a higher demand for patient handling equipment. The World Health Organization predicts that individuals aged 65 and above will surge to 1.4 billion by 2030 and 2.1 billion by 2050. As such, a rise in the geriatric population is expected to drive the demand for the patient handling equipment market in the future.

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What Are the Leading Organizations Impacting the Patient Handling Equipment Market’s Growth?

Major companies operating in the patient handling equipment market include:

• Invacare Corporation_x000D_

• Hill-Rom Holdings Inc._x000D_

• ArjoHuntleigh Inc._x000D_

• Joerns Healthcare LLC_x000D_

• Handicare Group AB_x000D_

What Are the Most Prominent Trends Driving Change in the Patient Handling Equipment Market?

The emergence of smart wheelchairs is a significant trend becoming prevalent in the patient handling equipment industry. Smart wheelchairs are essentially powered wheelchairs that are equipped with sensors, cameras, and a key processing system in the form of a computer, enabling it to manage intricate tasks. There is an emphasis by major industries and researchers on developing smart wheelchairs that integrate sensors and artificial intelligence to diminish the need for human interference. For instance, Golden Technologies LLC, an American firm that produces mobility and healthcare items, including wheelchairs, unveiled two new lightweight folding power wheelchairs in March 2023: the GP301 Stride aluminum folding power wheelchair and the GP302 Cricket carbon fiber folding power wheelchair. These wheelchairs cater ideally to those in need of mobility assistance given their adjustable and convenient travel features.

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Which Industry Segments Are Leading the Development and Expansion of the Patient Handling Equipment Market?

The patient handling equipment market covered in this report is segmented –

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: Homecare, Hospitals, Other End-Users

Subsegments:

1) By Wheelchairs: Manual Wheelchairs, Powered Wheelchairs, Lightweight Wheelchairs

2) By Mobility Scooters: 3-Wheel Mobility Scooters, 4-Wheel Mobility Scooters, Heavy-Duty Mobility Scooters

3) By Medical Beds: Manual Hospital Beds, Electric Hospital Beds, Bariatric Beds

4) By Patient Transfer Equipment: Patient Slings, Transfer Boards, Patient Lifts

5) By Other Product Types: Walkers and Rollators, Bedside Commodes, Gait Trainers

What Regions Are Leading the Charge in the Patient Handling Equipment Market?

North America was the largest region in the patient handling equipment market in 2024. Western Europe was the second largest region in the global patient handling equipment market report. The regions covered in the patient handling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

How Is the Patient Handling Equipment Market Categorized and Defined in the Industry?

Patient handling equipment is an assistive device that helps home care and hospital settings for transferring patients between chairs, beds, and other places. They are used for specific lifting, transfer, and movement of patients.

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