The major factors attributed to the growth of the patient mechanical lift handling equipment market include increasing geriatric population & rising prevalence of chronic diseases, and rising musculoskeletal disorders.
The patient mechanical lift handling has a major role in transporting the patient from one place to another place. The rising geriatric population and an increase in the prevalence of chronic diseases are expected to boost the demand for patient mechanical lift handling. According to the US Census Bureau’s Statistics in 2017, the total number of people aged 65 and older exceeded 50 million, and between 2020-2030, the number of elderly is projected to increase by almost 18 million. Furthermore, as the geriatric population is more prone to chronic diseases it will lead to longer stays in hospitals, which may increase the demand for the market, over the forecast period.
Key Market Trends
Overhead/Ceiling Lifts are Projected to Have a Significant Share Over Forecast Period.
A ceiling lift system consists of an overhead track (freestanding or ceiling mounted), an electric motor, and a resident sling. The equipment applies mechanical force to assist with transferring or repositioning the patient.
The increasing number of musculoskeletal injuries, rising geriatric population, and disability due to the chronic diseases are primary driving factors for the segment growth. According to the latest National Spinal Cord Injury Statistical Center at The University of Alabama at Birmingham, the researchers have estimated that as of 2019, there are 17,730 new SCI cases that occur each year and between 249,000 and 363,000 people are currently living with SCI in the United States.
Furthermore, compared to the other mechanical lifting equipment, ceiling lifts are more cost effective in the long term and easy to use. This is likely to drive the adoption of these products over the forecast period.
North America is Expected to Hold Largest Market Share over the Forecast Period
The major factor driving the growth of the market is the rising prevalence of various musculoskeletal conditions and presence of better healthcare infrastructure, as compared to most of the developed countries. Musculoskeletal conditions are one of the most disabling and expensive conditions in the United States. Spine- and back-related disorders hold a significant share among musculoskeletal problems.
According to a 2017 survey conducted in the United States, by the National Centre for Health Statistics, pain from any muscle, joint, or bone was reported by 52.1% among people aged 18 years and older and low back pain was the most common, affecting 28.6% of the people. The rising musculoskeletal conditions are expected to increase the demand for mechanical lift handling equipment in the United States.
The market studied is a fragmented market owing to the presence of various market players. In December 2019, Harvest Healthcare Ltd acquired by moving, handling and bathing specialist Prism Medical UK Ltd (Prism). Some of the market players are Gainsborough Healthcare Group, Getinge Group, Handicare Group AB, Hill Rom Holding Inc., Invacare Corporation, Joerns Healthcare, Inc., Mangar International, Inc, Stryker Corporation, Sunrise Medical LLC, and Guldmann Inc
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