Patient Mechanical Lift Handling Equipment Market is Expected to Reach $2.68 Billion by 2030

According to a new report published by Allied Market Research, titled, “Patient Mechanical Lift Handling Equipment Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030," the global patient mechanical lift handling equipment market was valued at $1,241.04 million in 2020, and is projected to reach $2,676.16 million by 2030, registering a CAGR of 8.5% from 2021 to 2030.

Patient mechanical lift handling equipment is a type of device that is used to hoist disabled patients who need to move but their weight makes them unsafe to move or lift them manually. These devices are particularly used in homecare, hospitals, and elderly care homes. Some of the examples of patient mechanical lift handling equipment include stand up & raising lifts/aids, overhead/ceiling lifts, floor-based lifts, gantry lifts, powered sit-to-stand lifts, and bath patient lifters. These types of patient lifting equipment are used to ensure absolute patient transfer system.

The major factors that drive the growth of patient mechanical lift handling equipment market are increase in number of accidents, rise in incidences of disabilities, surge in the bariatric & geriatric population, and surge in cases of musculoskeletal injuries. Moreover, risk of sleep disorder, rise in the geriatric & obese population, and increase in prevalence of sleep disorder contribute toward the growth of the market. However,  cost associated with the equipment and lack of awareness among patients are expected to restrain the market growth during the forecast period. Conversely, rise in demand for home healthcare services offer lucrative growth opportunities for the patient mechanical lift handling equipment market.

Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. Amidst the initial outbreak of COVID-19, the outlook for the patient mechanical lift handling equipment industry has changed significantly. The COVID-19 pandemic led to the significant rise in demand for patient mechanical lift handling equipment to handle various patients admitted in the hospitals. increase in number of patients who got admitted to hospital resulted in  increased  use of patient handling equipment. For instance, according to the data of Centers for Disease Control and Prevention, in March 2020, the rate of population hospitalized between the age group of 65 and above was approximately 13.8 per 100,000 population.

This impacted the market by the increase in the demand for the patient handling products. Moreover, rise in number of cases of COVID-19 patients across the globe increased the use of patient mechanical lift handling equipment. Overall, the impact of COVID-19 on the patient mechanical lift handling equipment market was recorded to be fairly positive. This was attributed to increase in demand for patient mechanical lift handling equipment to handle patients. Moreover, market players have increased investment in materials and resources, owing to increase in manufacturing demands for the devices in all the regions.

The patient mechanical lift handling equipment market is segmented on the basis of product, end user, and region. By product, the market is classified into stand up & raising lifts/aids, overhead/ceiling lifts, floor-based lifts, gantry lifts, powered sit-to-stand lifts, bath patient lifters, and others. Depending on end user, it is categorized into homecare, hospitals, elderly care homes, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of product, the global patient mechanical lift handling equipment market is classified into stand up & raising lifts/aids, overhead/ceiling lifts, floor-based lifts, gantry lifts, powered sit-to-stand lifts, bath patient lifters, and others. Powered sit-to-stand lifts segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period due to technological advancements in the patient handling devices, increase in adoption of patient handling devices, rise in incidence rate of chronic diseases, and increase in number of advanced & effective product launches.

By end user, the global patient mechanical lift handling equipment market is fragmented into homecare, hospitals, elderly care homes, and others. Hospitals segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to increase in healthcare awareness, rise in incidence of chronic diseases, rise in incidence of musculoskeletal injuries, and growth in geriatric & bariatric population.

North America accounted for major share of the global patient mechanical lift handling equipment market share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to increase in number of accidents & disabilities, surge in demand for patient handling devices, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities along with large presence of key players, and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period. Moreover, Japan and China are expected to grow at highest CAGR in Asia-Pacific patient mechanical lift handling equipment market majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced instruments, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of patient handling.

Key findings of the study

• By product, the powered sit-to-stand lifts segment held majority share in the global patient mechanical lift handling equipment market in 2020.
• Depending on end user, the hospitals segment held largest patient mechanical lift handling equipment market share in 2020, and is expected to remain dominant throughout the forecast period.
• Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 10.5% during the forecast period.