New York, USA, Aug. 30, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global patient handling equipment market is projected to garner a revenue of $17.1 billion and grow at 8.5% CAGR during the 2020-2027 forecast period. The extensive report provides a concise outlook of the present market scenarios, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the analysis timeframe. The report also offers detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario of the market.
Factors Impacting the Market Size Pre and Post Covid-19 Pandemic:
According to the report, the real-time market size has prominently increased compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $9.7 billion in 2020, while its estimations were $9.4 billion in the pre-pandemic scenario. Increasing geriatric population across the globe and their consequent demand for safe patient transferring methods in the healthcare facilities are some factors to drive the growth of the global patient handling equipment market during the forecast period. Moreover, these modern equipment ensure protection from unnecessary injuries and offer accurate patient shifting and lifting in correct posture, thus further boosting the market growth by 2027.
Avail All-Inclusive PDF sample of Patient Handling Equipment Market
Factors Impacting the CAGR Figures Pre and Post Covid-19 Pandemic:
As per the report, the global patient handling equipment market is estimated to grow at a CAGR of 8.5% during the analysis timeframe, while it was anticipated to grow at 7.8% CAGR in the pre-pandemic scenario from 2020-2027. The rising demand for beds with advanced technologies especially during the covid-19 stress is one of the major factors to bolster the market growth by 2027. For instance, in July 2020, the Defense Institute of Advanced Technology developed a low-cost medical bed isolation system ‘Aashray’ to fight against the coronavirus. The development has a flexible and movable design and can be used as a reusable solution to ensure proper isolation among covid-19 infected patients.
Post Pandemic Insights
As per the report, the global patient handling equipment market is expected to flourish immensely in the upcoming years mainly due to the growing incidents of physical disabilities among the geriatric population and the consequent demand for sturdy and safe patient handling equipment in hospitals to avoid any injuries. In addition, increasing strategic initiatives by key market players and rising technological advancements in the hospital beds are some other factors predicted to propel the market growth. Additionally, increasing private nursing care in most regions is also projected to uplift the market development by 2027.
Prominent Market Players
Some prominent patient handling equipment market players include
- Ossenberg
- ORTHOS XXI
- Drive Medical
- Antano Group
- Handicare
- Prism Medical
- Stiegelmeyer
- HoverTech International
- Guldmann
- Joerns Healthcare
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in November 2021, Drive DeVilbiss Healthcare, a renowned medical equipment manufacturer, announced its partnership with BILT Incorporated, creator of the BILT app that provides 3D interactive instructions with text, voice, and animated guidance for multiple products, to help users assemble medical beds at home with the help of the latter’s 3D instructions. This strategic partnership also aimed to ease the complete patient handling process with utmost safety at their homes.
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Avail Customization as per your Format and Definition
