Development In The Healthcare Infrastructure Is Contributing To The Growth Of The Patient Handling Equipment Market

Patient Handling Equipment Market 2021 - Opportunities And Strategies – Forecast To 2030

Patient Handling Equipment Market 2021 – Opportunities And Strategies – Global Forecast To 2030

The Business Research Company’s Patient Handling Equipment Market 2021 – Opportunities And Strategies – Global Forecast To 2030

LONDON, GREATER LONDON, UK, November 23, 2021 /EINPresswire.com/ — Improvements in healthcare infrastructure across the globe is supporting growth of the patient handling equipment market. Improved healthcare setup will help in effective implementation of government health plans, thus leading to increased healthcare access. Many countries are making effort for improving healthcare infrastructure through various models such as public private partnership. For instance, in February 2021, International Finance Corporation (IFC), an international financial institution has collaborated with Odisha government to develop up to 12 specialty hospitals in India, under the Odisha Affordable Healthcare Project. This project aims to establish each hospital with 50-200 beds and will increase number of beds by 8% in the states.

The project also intends to provide private beds by 15%. In 2019, the UK government rolled out 5-year program of investment in health infrastructure that aims to construct 40 new hospital across the country over the next decade, modernize the primary care estate, improve mental health facilities, invest in new diagnostics and technology, and help eradicate critical safety issues in the NHS estate. In August 2019, the government announced to invest £2.1 billion ($2.8 billion) capital for health infrastructure. Thus, improvement in healthcare infrastructure is providing a robust growth of the patient handling equipment market.

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The global patient handling equipment market reached a value of nearly $14.23 billion in 2020, having increased at a compound annual growth rate (CAGR) of 5.9% since 2015. The market is expected to grow from $14.23 billion in 2020 to $23.07 billion in 2025 at a rate of 10.1%. The market is then expected to grow at a CAGR of 7.9% from 2025 and reach $33.69 billion in 2030.

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Major players covered in the global patient handling equipment market are Invacare Corporation, Hill-Rom Holdings Inc., ArjoHuntleigh Inc., Joerns Healthcare LLC, Handicare Group AB.

The global patient handling equipment market report is segmented by product type into wheelchairs, mobility scooters, medical beds, patient transfer equipment, others, by care type into critical care, fall prevention, bariatric care, wound care, others, by end-user into homecare, hospitals, biopharmaceutical and pharmaceutical companies, research institutes, and others.

The critical care market was the largest segment of the patient handling equipment market segmented by care type, accounting for 41.1% of the total in 2020. Going forward, wound care segment is expected to be the fastest growing segment in the patient handling equipment market segmented by care, at a CAGR of 12.7% during 2020-2025.

North America was the largest region in the patient handling equipment market, accounting for 34.3% of the total in 2020. It was followed by the Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the patient handling equipment market will be Eastern Europe and South America.

Patient Handling Equipment Market 2021 – By Product Type (Wheelchairs, Mobility Scooters, Medical Beds, Patient Transfer Equipment), By Care Type (Critical Care, Fall Prevention, Bariatric Care, Wound Care), By End-User (Homecare, Hospitals, Biopharmaceutical And Pharmaceutical Companies, Research Institutes) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides patient handling equipment market overview, forecast patient handling equipment market size and growth for the whole market, patient handling equipment market segments, and geographies, patient handling equipment market trends, patient handling equipment market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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Source: EIN Presswire