Increasing geriatric population, rising number of injuries during hospital care and rising incidences of lifestyle associated disabilities are expected to further propel the growth of the market. Technological up gradation and new equipment development are expected to boost the patient handling equipment market during the forecast period. Increasing concern of FDA (Food and Drug Administration) and regulatory departments worldwide over patient and healthcare provider safety is the vital driver propelling the growth of this market.
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On the basis of product segmentation, medical beds held the largest share of the market. Medical beds are the basic requirement in any medical facility and rising number of healthcare facilities encourages the growth of this segment during the forecast period. Hospitals held the largest share of the patient handling equipment market for the end use segment. The dominance is anticipated due to stringent regulatory and infrastructure development policies applicable on them, thereby promoting growing expenditure on patient handling equipment. Wound care patient handling equipment segment is expected to witness lucrative growth during the forecast period owing to increasing expenditure of people over preventive treatments and augmenting incidences of abrasions. Critical care is another segment expected to rapidly grow during the forecast period due to increasing incidences of chronic conditions globally, rising geriatric population base and technological advancements.
Supportive government initiatives and rising spending of healthcare facilities on infrastructure and handling equipment are major drivers for the dominance of the European region. The region is anticipated to sustain the growth during the forecast period with Germany being the largest revenue generator for the patient handling equipment market. North America follows Europe and is expected to witness lucrative growth owing to rising demand of patients for safe and painless handling equipment, growing incorporation of hospitals and healthcare facilities and improving technology. Rising disposable income of individuals and improving regulations over the safety of healthcare providers are other impact rendering drivers for the growth of the market. The patient handling equipment market is expected to witness the fastest growth in the region of Asia Pacific. Drivers of this growth are anticipated to be changing attitude of patients towards healthcare industry leading to rising volumes of in-patients in hospitals and critical care centers. Increasing disposable income availability and rising establishment of medical facilities further fuel the growth of the market.
The key players of the patient handling equipment market are Guldmann Inc., Getinge Group, ArjoHuntleigh Inc., Invacare Corporation, Handicare Inc, Stryker Inc, Sidhil Ltd. Hill-Rom Inc. , Mangar International Ltd., Stiegelmeyer Inc, Linet Inc., Benmor Medical Ltd., Joerns healthcare, Etac Ltd. and Prism Medical. The patient handling equipment market players are expected to employ strategic initiatives such as collaborations and partnership during the forecast period in order to expand product portfolio and gain market share.
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