A new report has predicted that the Patient Handling Equipment market will be worth £9.6bn ($12.6bn) by 2024.
This would be up from £6.7bn ($8.9bn) in 2019 at a CAGR of 7.2% during the forecast period.
The MarketsandMarkets report described how the growth of the market will be largely driven by the rising geriatric population, 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 processes.
It does though detail that the persistent difficulties in handling bariatric patients are expected to limit market growth to a certain extent.
In the report, the mobility devices market is segmented into wheelchairs & mobility scooters and ambulatory aids and shows the wheelchairs & mobility scooters segment is expected to account for the largest share of the mobility devices market in 2019.
The increasing geriatric, obese, and disabled population is the key factor contributing to the growth of this market.
This includes patients suffering from chronic and degenerative diseases such as heart diseases, cancer, and diabetes, all of which result in old-age disability.
Similarly, being obese increases the likelihood of a person suffering from related co-morbidities that make it difficult to perform day-to-day tasks without assistance.
Based on end user, the patient handling equipment market is segmented into hospitals, home care settings, and other end users.
Geographically, Europe will continue to dominate the patient handling equipment market during the forecast period.
On the basis of region, the patient handling equipment market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World (RoW).
In 2019, Europe accounted for the largest share of this market, followed by North America, with major players including Sweden-based Arjo and US-based Hill-Rom Holdings and Invacare.