Patient mechanical lift handling equipment includes ceiling lifts, stair lifts, mobile lifts, sit-to-stand lifts, bath & pool lifts, and other patient transfer devices used to transfer immobile patients within healthcare facilities and homes. These equipment enable caregivers to handle patients efficiently without risk of physical strain or injury, as they are designed with patient safety as top priority. They offer comfort, dignity and independence to patients who have limited mobility. The global patient mechanical lift handling equipment market has witnessed significant growth in recent times due to growing elderly population worldwide suffering from limited mobility and disabilities.

The global Patient Mechanical Lift Handling Equipment Market is estimated to be valued at Us$ 1,843.8 Mn in 2023 and is expected to exhibit a CAGR Of 7.9% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the patient mechanical lift handling equipment market is growing adoption of ceiling lifts. Ceiling lifts are fixed patient transfer devices installed on the ceiling that offer effortless transfers between beds and wheelchairs. They provide safety, support and independence to both patients and caregivers compared to manually handling immobile patients. Ceiling lifts are gaining popularity in healthcare and home care settings due to their easy installation and operation. Technological advancements are also being made where ceiling lifts are integrated with automated features for smoother operation. Growing awareness about advantages of ceiling lifts among care providers and patients is expected to drive the demand over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low as the patient mechanical lift handling equipment market requires high investment in research and development for innovating advance technologies that ensure safe patient handling and mobility. Further, existing players have strong brand presence and distribution channels.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are few existing player dominating the market. However, demand for advanced patient handling equipment is non-discretionary in nature.

Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of component manufacturers. However, suppliers need to meet stringent quality and safety standards set by industry.

Threat of new substitutes: The threat of new substitutes is low as there are limited substitutes available for mechanical patient lifts that offer equal assistance, safety, and mobility support for both patients and caregivers.

Competitive rivalry: The competition between existing players is high due to the presence of few major players dominating the market with their diversified product portfolio and strong geographical presence. Players compete on the basis of product innovation, pricing, and customer service.

Key Takeaways

The global patient mechanical lift handling equipment market is expected to witness high growth over the forecast period. North America is expected to dominate the market during the forecast period. Factors such as the rising geriatric population, increasing prevalence of disabilities, and stringent regulations regarding safe patient handling are expected to drive the demand in the region.

Regional analysis

North America is anticipated to hold the largest share of the global patient mechanical lift handling equipment market during the forecast period. The growth in the region can be attributed to the rising healthcare expenditure, presence of leading market players, increasing incidences of disabilities, and growing obesity rates. According to the Centers for Disease Control and Prevention (CDC), one in every four healthcare workers in the US gets injured due to patient lifting. This is expected to boost the adoption of patient lift equipment for safe patient handling.

Key players

Key players operating in the patient mechanical lift handling equipment market are ARJO, Etac AB, Medline Industries Inc., Guldmann Inc., Sunrise Medical Inc., Stryker Corporation, Winncare Group (Mangar Health), Joerns Healthcare Inc., Invacare Corporation, Baxter (Hill Rom Holding Inc.), Gainsborough Healthcare Group, and Savaria Corporation (Handicare Group AB), among others. ARJO and Invacare Corporation hold a significant share of the market.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it