As per MRFR analysis, the Patient Lifting Equipment Market Size was estimated at 5.93 (USD Billion) in 2022. The Patient Lifting Equipment Market Industry is expected to grow from 6.2(USD Billion) in 2023 to 9.2 (USD Billion) by 2032. The Patient Lifting Equipment Market CAGR (growth rate) is expected to be around 4.49% during the forecast period (2024 - 2032).
The Patient Lifting Equipment market is getting new technological advancements due to the increasing geriatric population and healthcare expenditure across the globe. There has been an upsurge in the demand for new and exclusive lifting devices in this segment in order to improve the quality of care and relieve pressure on caregivers. Market expansion is facilitated by the progress in technology, encouragement from the government, and the growth in funds related to the healthcare sector.
There are opportunities in the development of novel patient lifting equipment like exoskeletons and patient lifts that combine artificial intelligence to allow a patient more independence in an environment. There is also a changing trend from bulky and cumbersome lifting apparatus to more portable and less expensive instruments without compromising their effectiveness in health delivery systems and homes. Some of the latest ones include developments in atmospheric sensors and design ergonomics with the aim of protecting the patient.
Further, such developments have come up as a result of increasing attention on rehabilitation and moving around, which has increased the emphasis on the need for lightweight and portable carrying and lifting devices. However, developing economies present remarkable opportunities for growth, especially with the development of healthcare systems and the increase in the older population. It is possible for stakeholders to leverage on these market trends and address the untapped demand for patients in order to create innovative solutions and grow within this area.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The rising prevalence of chronic conditions and disabilities is a major factor driving the growth of the Patient Lifting Equipment Market Industry. As the population ages, the number of people with mobility impairments is expected to increase significantly. This is due to the fact that chronic conditions such as arthritis, stroke, and multiple sclerosis can make it difficult or impossible for people to move around without assistance. As a result, there is a growing demand for patient lifting equipment that can help people with mobility impairments to maintain their independence and quality of life.
An additional factor determining the growth of the Patient Lifting Equipment Market Industry is technological development. Significant findings were made in the area of patient lifting equipment being made during the last several years. For instance, there are currently new lifting devices available on the market which are lighter and easier to transport. This is a vital factor as modern lifting equipment would be preferable to a broader audience.
Government regulations also play a role in the growth of the patient-lifting equipment market. In many countries, there are now regulations that require hospitals and other healthcare facilities to have patient lifting equipment available. These regulations are designed to protect patients from injuries that can occur during transfers and repositioning. As a result of these regulations, there is a growing demand for patient lifting equipment in healthcare facilities.
The Patient Lifting Equipment Market is segmented by Equipment Type into Patient Lifts, Ceiling Lifts, Mobile Lifts, Stair Lifts, and Hoyer Lifts. The Patient Lifts segment held the largest share of the market in 2023, and is projected to grow at a steady rate over the forecast period. The Ceiling Lifts segment is expected to witness significant growth over the forecast period. The Mobile Lifts segment is expected to grow at a healthy rate, while the Stair Lifts segment is expected to witness moderate growth. The Hoyer Lifts segment is expected to grow at a steady rate.Patient Lifts are the most common type of patient lifting equipment. They are used for transferring patients from beds to chairs, wheelchairs, or other surfaces.
Ceiling Lifts are mounted on the ceiling and are used to lift and move patients in a variety of settings, including hospitals, nursing homes, and private homes. Mobile Lifts are portable and can be used in a variety of settings, including hospitals, clinics, and home healthcare environments. Stair Lifts are used to help people with mobility impairments to ascend and descend stairs. Hoyer Lifts are used to lift and move patients who are unable to bear weight.The growth of the Patient Lifts segment is attributed to the increasing number of elderly patients and the growing demand for home healthcare services. The Ceiling Lifts segment is expected to grow over the forecast period due to the increasing adoption of ceiling lifts in hospitals and nursing homes.
The Mobile Lifts segment is also expected to grow at a healthy rate due to the increasing demand for portable patient lifting equipment in home healthcare settings. The Stair Lifts segment is expected to grow moderately due to the increasing number of people with mobility impairments.The Hoyer Lifts segment is expected to grow at a steady rate over the forecast period. Overall, the market is expected to grow significantly due to the increasing number of elderly patients and the growing demand for home healthcare services.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Patient Lifting Equipment Market segmentation by Application is expected to grow significantly in the coming years. Hospitals are the largest application segment, accounting for over 55% of the Patient Lifting Equipment Market revenue in 2023. The growth of the hospital segment is attributed to the increasing number of patient admissions, surgeries, and the aging population. Long-term care facilities are the second-largest application segment, accounting for over 25% of the Patient Lifting Equipment Market revenue in 2023.
The growth of this segment is attributed to the increasing number of elderly people and the need for long-term care services. Home healthcare is the third-largest application segment, accounting for over 15% of the Patient Lifting Equipment Market revenue in 2023. The growth of this segment is attributed to the increasing demand for home healthcare services and the preference for home-based care. Hospice care is the smallest application segment, accounting for less than 5% of the Patient Lifting Equipment Market revenue in 2023. The growth of this segment is attributed to the increasing number of hospice care patients and the need for specialized patient lifting equipment.
The weight capacity segment plays a crucial role in the Patient Lifting Equipment Market. In 2023, the segment is classified into four categories: Below 250 lbs, 250-500 lbs, 500-1000 lbs, and Above 1000 lbs. The 'Below 250 lbs' segment held a significant market share in 2023 and is expected to maintain its dominance throughout the forecast period. This is primarily due to the high demand for lightweight and portable patient lifting equipment in home healthcare settings and nursing homes.
The '250-500 lbs' segment is projected to witness substantial growth over the coming years, driven by the increasing adoption of patient lifting equipment in hospitals and long-term care facilities.The '500-1000 lbs' and 'Above 1000 lbs' segments are expected to experience moderate growth, catering to the specific needs of bariatric patients and special healthcare applications. Overall, the weight capacity segment is a key determinant of patient lifting equipment selection and is expected to continue to influence market growth in the coming years.
Regionally, North America accounted for the largest revenue share in 2023, with over 35% of the market value. The growth in this region is attributed to the rising geriatric population, increasing prevalence of chronic diseases, and technological advancements in patient lifting equipment. Europe is the second largest market, followed by APAC, South America, and MEA. The APAC region is expected to witness the highest growth rate during the forecast period, driven by the growing healthcare infrastructure and increasing demand for patient lifting equipment in emerging economies like China and India.The market growth in South America and MEA is expected to be driven by the increasing government focus on healthcare infrastructure development and rising awareness about patient safety.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in the Patient Lifting Equipment Market industry are continuously developing new products to meet the changing needs of their customers. For example, in 2023, Arjo launched a new line of patient lifting slings that are designed to provide greater comfort and support for patients. Leading Patient Lifting Equipment Market players are also investing in research and development to improve the safety and efficiency of their products. For instance, in 2023, Stryker Corporation announced that it had developed a new patient lift that features an innovative lifting mechanism that reduces the risk of injury to both patients and caregivers.
The Patient Lifting Equipment Market is expected to witness significant development over the coming years, driven by the increasing demand for patient lifting equipment in hospitals, nursing homes, and other healthcare settings.Arjo is a leading provider of patient lifting equipment. The company offers a wide range of products, including patient lifts, slings, and accessories. Arjo's products are used in a variety of healthcare settings, including hospitals, nursing homes, and home care. The company has a strong commitment to innovation and is constantly developing new products to meet the needs of its customers.
Arjo is a global company with operations in over 100 countries. The company's headquarters are located in Sweden.Hill-Rom is another leading provider of patient lifting equipment. The company offers a wide range of products, including patient lifts, stretchers, and wheelchairs. Hill-Rom's products are used in a variety of healthcare settings, including hospitals, nursing homes, and home care. The company has a strong commitment to quality and is constantly developing new products to meet the needs of its customers. Hill-Rom is a global company with operations in over 100 countries. The company's headquarters are located in the United States.
The Patient Lifting Equipment Market is expected to grow from USD 6.2 billion in 2023 to USD 9.2 billion by 2032, at a CAGR of 4.49% from 2024 to 2032. The increasing prevalence of chronic diseases and the growing geriatric population are major factors driving the growth of the market.Recent news developments in the market include the launch of new products and the expansion of existing product lines by major players. For instance, in January 2023, Arjo, a leading provider of patient handling solutions, launched the Sara Stedy 4500, a new mobile patient lift designed to enhance safety and comfort during patient transfers.
Furthermore, the market is witnessing the emergence of innovative technologies such as wearable exoskeletons and robotic patient lifts. These technologies are designed to reduce the physical strain on caregivers and improve patient outcomes. The increasing adoption of these technologies is expected to fuel the growth of the patient lifting equipment market in the coming years.
| Report Attribute/Metric | Details |
| Market Size 2022 | 5.93(USD Billion) |
| Market Size 2023 | 6.2(USD Billion) |
| Market Size 2032 | 9.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 4.49% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Sunrise Medical, Linet, Medline Industries, Reids Medical Ltd, Prism Medical UK Ltd, Parker Hannifin, Stryker, Arjo, HoverTech International, Span America Medical Systems, Getinge, Bridge Healthcare, Invacare, HillRom Holdings, B. Braun Melsungen AG |
| Segments Covered | Equipment Type, Application, Weight Capacity, Regional |
| Key Market Opportunities | Increasing demand for home healthcare Technological advancements Growing geriatric population Expansion in emerging markets Rising incidence of chronic diseases |
| Key Market Dynamics | Aging population, technological advancements, increasing prevalence of chronic diseases, expanding healthcare infrastructure, growing awareness of patient safety |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Patient Lifting Equipment Market is expected to reach USD 9.2 billion by 2032, exhibiting a CAGR of 4.49% during the forecast period (2024-2032).
North America is expected to dominate the Patient Lifting Equipment Market throughout the forecast period, owing to the presence of well-established healthcare infrastructure, increasing geriatric population, and favorable government regulations.
The increasing prevalence of chronic diseases, rising geriatric population, growing demand for home healthcare services, and technological advancements are the primary factors driving the growth of the patient lifting equipment market.
Some of the prominent players in the Patient Lifting Equipment Market include Arjo, Stryker, Hill-Rom Holdings, Invacare, and GF Health Products.
Patient lifting equipment finds applications in various healthcare settings, including hospitals, long-term care facilities, and home healthcare environments.
Patient lifting equipment encompasses a range of devices, such as patient lifts, transfer slings, stretchers, and commodes.
Stringent regulatory requirements, intense competition, and reimbursement issues pose challenges to the growth of the patient lifting equipment market.
The adoption of smart lifting devices, advancements in material technology, and integration with assistive technologies are emerging trends shaping the patient lifting equipment market.
Technological advancements have revolutionized patient lifting equipment, enhancing safety, efficiency, and patient comfort.
The expansion of home healthcare services, rising disposable income, and increasing awareness about patient safety present growth opportunities for the patient lifting equipment market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
