Patient Handling Equipment Market: Rental Provisions Emerging as Market Trend to Create New Prospects

The demand in the global patient handling equipment market is projected to increment at a robust CAGR of 10.4% during the forecast period of 2017 to 2024, gaining traction from a number of factors such as rising geriatric population, high risk of injuries to caregivers as well as the patients during manual handling, increasing incidence of disabilities, and implementation of regulations pertaining to the safety at the healthcare facilities. On the other hand, the lack of skilled professionals to handle these equipment is hindering the market from attaining its true potential. Nevertheless, the vendors operating in the global patient handling equipment market are expected to gain new opportunities from private institutional nursing and the entry of several major players in domestic markets.

As per the estimations of the report, the global patient handling equipment market will be worth US$22.4 bn by the end of 2024, significantly up from its evaluated valuation of US$11.2 bn in 2017. The healthcare industry is currently flourishing in a number of developed and emerging economies, and if the vendors operating in this market can formulate a way to train professionals to operate these equipment, the demand will be ideally met.

From geographical perspective, some of the most important regions for the patient handling equipment market are North America, Europe, and Asia Pacific. Among these, Europe held the leading position in 2017, and is likely to retain its top position throughout the forecast period, owing to robust healthcare infrastructure and government regulations in respective countries. By 2024, the Europe patient handling equipment market is estimated to be worth US$8.0 bn. On the other hand, the region of Asia Pacific, which resides some of the most promising emerging economies such as India, China, and Japan, are expected to turn into highly lucrative region towards the end of the forecast period. Growing popularity of medical tourism is also expected to favor the added demand for patient handling equipment from Asia Pacific.

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ArjoHuntleigh (Getinge Group) is identified as the most prominent company currently operating in the global patient handling equipment market, although the report also picks out a few other notable players, such as V.Guldmann A/S, DJO Global, Hill-Rom Holdings, Inc., Invacare Corporation, Etac AB, Joerns Healthcare LLC, Permobil AB, Prism Medical, Stiegelmeyer & Co. GMBH, Stryker Corporation, Patterson Medical Holdings, Inc., and Sunrise Medical LLC.

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Ganesh Rajput

As one of the lead news writers on CMFE News, Ganesh’s specialization lies in the science and technology domains. His passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Ganesh’s take on the impact of digital technologies across the science, technology, and business domains gives his writing a fresh and modern outlook.

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