Luton, Bedfordshire, United Kingdom, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Patient Lateral Transfer Market.
Exactitude Consultancy explores the current market and new opportunities in the growing Patient Lateral Transfer Devices market.
Is technological advancement or price competition driving the market? And, how is the growing expectation of care and safety of patients affecting the market? Read more to get answers and insights for such and other key questions from the report.
By 2029, due to the growing need for patients’ safety of transfer from one surface or bed to another with the use of low friction device and care is estimated to help the market to grow to USD 610 million.
According to the latest market research completed and published by Exactitude Consultancy, the global patient lateral transfer market is expected to grow at 9% CAGR from 2022 to 2029. It is expected to reach above USD 0.61 billion by 2029 from USD 0.28 billion in 2020.
The report discusses the market considering the key market players, their device offerings, and the advancements made in the Patient Lateral Transfer Devices market. Other critical aspects of the market considered while writing the report are the requirements recognizing the end-user application of Patient Lateral Transfer Devices in different medical institutions, and the segments they are used.
The demand side growth is attributed to the increasing healthcare personnel emphasizing the usage of patient transfer equipment to reduce back injuries caused by strenuous exertion and awkward postures.
The report market definition, scope, and market segments considered for the study:
Patient lateral transfer devices are used for the transposition of a patient with minimal stress on the care provider. The diminishing level of friction in lateral transfers of patients aids in increasing the comfort of both patients and healthcare workers.
Governments across the world are passing legislation to shorten and lower the cost of home healthcare procedures. The market for patient lateral transfer devices in the home healthcare industry would eventually grow as a result. Patient lateral transfer devices help patients get out of bed for any urgent medical needs, so the aging population and rising prevalence of chronic illnesses have led to patients staying in hospitals for longer periods. As a result, demand for these devices may rise over the forecast period.
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The research focuses on the segmentations of the Patient Lateral Transfer Devices market and the kind of application they provide in several end-use industries; the market is always expected to witness growth due to increasing segments for application:
- - The different product types of Patient Lateral Transfer Devices are Air-assisted Transfer Mattresses, Slide Sheets, and Lateral Transfer Accessories.
- The air-assisted lateral transfer mattresses segment can further be classified into regular Mattresses, split-leg mattresses, and half mattresses.
- The air-assisted lateral transfer mattresses segment accounted for the largest market share. The large share of this segment can be attributed to the benefits of air-assisted lateral transfer mattresses in resolving ongoing issues to reduce the chance of musculoskeletal disorders in caregivers, and it is advised to use air-assisted lateral transfer beds when caring for patients with special needs. Carts, stands, transfer mat covers, and air supply units are the accessories.
- - The global patient lateral transfer market is segmented into reusable and disposable devices or products.
- - The different types of end-users in Patient Lateral Transfer Devices are Hospitals, Ambulatory Surgical Centers. Hospitals dominated the end-user segment.
- Hospitals have the most up-to-date technological tools for managing and handling patients. The demand for total patient lateral transfer devices has been dominated by hospitals due to the growing elderly population, people with mobility disabilities, and rising hospital admissions.
Regional Growth Insights:
The regional insights of the blow molding resin market are bifurcated by regions like North America, Asia Pacific, Europe, and the Rest of the world
The Patient Lateral Transfer Devices market is dominated by the North American region with around 32% of the market share. The majority of hospitals in North America have started adopting different patient lateral transfer solutions, making it simple to move patients from resting surfaces. This is due to an increase in the number of caregivers suffering from musculoskeletal disorders (MSDs).
The North American region contains major economies like the US, Canada, and Mexico. People who are obese or overweight are more likely to develop serious chronic conditions that require admission to a healthcare facility as the condition worsens. It is expected that the difficulty of transferring patients laterally will increase demand for patient lateral transfer devices and open doors for U.S. makers of patient lateral transfer goods.
The European market is expected to be the second largest region for this market. The prospects for the global market for patient lateral transfer products and systems are significantly boosted by rising sales of air-assisted patient transfer devices in Germany, rising demand for air-assisted lateral transfer mattresses in France, and rising demand for split-leg air-assisted lateral transfer mattresses in Spain.
The Asia Pacific region is also observing growth in this market. This region has developing economies like India, China, Japan, South Korea, and Australia. China has a sizable elderly population, which fuels the demand for products used in the patient lateral transfer. Due to the country's well-developed healthcare infrastructure, increased investments by major companies, and rising senior population, the market in China is anticipated to expand rapidly.
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Key Drivers – Healthcare personnel is emphasizing the usage of patient transfer equipment which is driving the market.
Patient lateral transfer devices also aid in efficient patient transfer by improving postures while moving partially or wholly dependent patients, which is a major reason driving demand for these devices. Around the world, various governments are imposing legislation to reduce the length and cost of home healthcare operations. This would eventually increase the market for patient lateral transfer equipment in the home healthcare sector.
Challenges in the global Patient Lateral Transfer Devices market:
Rising expenditure for research and development proficiencies especially in developed and developing economies will improve the market.
Research and development proficiencies being conducted for the development of emergency healthcare services are also helping the market growth rate. Surging focus on improving the condition of healthcare facilities and improving the overall healthcare infrastructure is another important factor fostering the growth of the market.
Competitive landscape and companies covered:
Some of the major players in this industry have taken a leadership position while trying to establish their market through innovative marketing strategies. These leading firms focus on expanding by developing new products or partnering with other companies for strategic initiatives that will help them conquer markets they occupied previously and make gains where it matters most- at home (geographic). There are a lot of local players in each of the regions who are trying to penetrate the market which again can be disruptive in low-income economies.
There is almost no difference in the product range for applications in the market. Almost all the top companies offer all the products thus making it much of a marketing and incentive-based market rather than innovation.
Major players operating in the global Blood screening market include Stryker (US), Hill-Rom Holdings, Inc. (US), Arjo (Sweden), Handicare (Sweden), Etac Group (Sweden), Sizewise (US), McAuley Medical, Inc. (US), Medline Industries Inc. (US), Samaritan Medical AG (Switzerland), Blue Chip Medical, Inc. (the US), Haines Medical Australia (Australia), Scan Medical Co Inc. (US), WY’ East Medical Company (US), GBUK Banana (US), Johnson & Johnson Services, Inc. (US), Arthrex Inc
Objectives of the research and the key questions answered:
The research report has been written keeping in mind the following stakeholders: the current companies in the market, the new startups, the local players, and VCs, the medical devices industries, Healthcare Institutional & retail players, Investment research firms, and Others.
The key questions answered in the report are:
- - What segments are covered in the Patient Lateral Transfer Devices Market report?
- - What are the key trends shaping the Patient Lateral Transfer Devices market?
- - Who are the key players in the market?
- - Which are the highest-growing regions in this market?
- - Which is the highest-growing end-user industry for the Patient Lateral Transfer Devices market in terms of sales?
- - Which segment holds the maximum share of the patient lateral transfer market?
- - What are the factors affecting the market growth and restraints?
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