Patient Lifting Equipment Market is expected to grow from USD 3.0 billion in 2019 to USD 5.4 billion by 2024, at a CAGR of 12.7% during the forecast period.
Increasing global geriatric & bariatric populations, the high risk of injuries to caregivers during the manual handling of patients, and the implementation of regulations ensuring the safety of healthcare personnel during manual lifting are the key factors driving the market growth.
Top Key Players
The major companies in the global patient lifting equipment market include Arjo (Sweden), Hill-Rom (US), Invacare (US), Handicare (Sweden), and Guldmann (US).
Hill-Rom (US) was the leading player in the market in 2018. The company provides a wide range of patient lifts such as mobile lifts, overhead lifts, free-standing lifts, sit-to-stand lifts, slings and lift sheets, and other lifting accessories. The company makes significant R&D investments, which is an integral part of its operations. Hill-Rom invested USD 0.14 billion towards R&D in 2018 (4.8% of total revenue).
This significant investment in product development enabled the company to focus on product innovation. The constant focus on innovation helps the company to enhance its product offerings for the patient lifting equipment market.
Browse 67 market data Tables
21 Figures
132 Pages and in-depth TOC on “Patient Lifting Equipment Market”
Patient Lifting Equipment Market by Product (Ceiling/Overhead Lift, Stair Lift, Mobile/Floor Lift, Sit to Stand Lift, Bath & Pool Lift, Lifting Slings, Lifting Accessories), End User (Hospital, Home Care, Elderly Care Facility) – global forecast to 2024
Recent Developments:
- In August 2016 GF Health products launched Lumex Pro Battery-Powered Floor Lift in the Mobile lift segment.
- In October 2018, Etac launched two new products, Molift Raiser pro in Sit to Stand segment
- In September 2016, Handicare acquired Prism Medical (US & Canada), one of the leading manufacturers of fixed ceiling lifts, portable ceiling lifts, floor lifts, slings, and other ancillary patient handling products.
