Patient Mechanical Lift Handling Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted April 28, 2021 by manojshinde

The patient mechanical lift handling equipment market was estimated to be USD 9.12 billion in 2020 and is expected to register a CAGR of nearly 9.5% during the forecast period to reach USD 11.32 billion by 2026.
 
COVID-19 is likely to have a slightly positive effect on the market due to the increased rate of hospitalizations across the world. Mechanical lifts are used for patients with serious debilitating conditions, like those who suffer from chronic disease or for elderly patients. According to a March 2020 CDC study, COVID-19-associated hospitalization rates were higher among the elderly than other age groups.

According to the study, hospitalization rates per 100,000 population were 7.4 in those aged 50–64 years, and 13.8 in those aged over 65 years. Rates were highest among persons aged over 65 years, ranging from 12.2 in those aged 65–74 years to 17.2 in those aged over 85 years. In total, hospitalization rates have also increased significantly due to COVID-19. For example, according to a United Kingdom Government status report from January 2021, the weekly overall COVID-19 positive hospital admission rates per 100,000 people went up from below 10 in September 2020 to over 30 in January 2021. Such a high increase in hospitalization rates is expected to positively affect the market demand for mechanical lift handling equipment.


Additionally, the other major factors attributed to the growth of the patient mechanical lift handling equipment market include increasing geriatric population & rising prevalence of chronic diseases, and rising musculoskeletal disorders.

Patient mechanical lift handling equipment are used extensively in transporting a patient from one place to another place. Rising geriatric population and an increase in the prevalence of chronic diseases are expected to boost the demand for patient mechanical lift handling, as both these factors are expected to increase hospitalization rates. In 2019, organizations in the United Kingdom like Spinal Injuries Association, Aspire and Back Up estimated that around 2,500 people are injured or are diagnosed with a spinal cord injury (SCI) every year in the country.

They also estimated that the total number of people living with a spinal cord injury in the UK was 50,000 in 2019. Patients suffering from SCI need support and continuous monitoring. Mechanical lift handling equipment are used extensively by caregivers while dealing with these types of patients. This is again expected to have a postive effect on the market for mechanical lift handling equipment, which may increase demand in the market during the forecast period.

Key Market Trends

Overhead/Ceiling Lifts are Projected to Have a Significant Share Over Forecast Period.

Ceiling lift systems are expected to remain very popular during the forecast period. A comprehensive ceiling lift system consists of an overhead track (which can be freestanding or ceiling mounted), a resident sling, and an electric motor. The system applies mechanical force to assist in transferring or repositioning the patient. These types of lifts are important devices for nurses, for whom lift-strain injuries are quite common.

The increasing number of musculoskeletal injuries, rising geriatric population, and disability due to chronic diseases are primary driving factors for the segment growth. According to the latest National Spinal Cord Injury Statistical Center at The University of Alabama at Birmingham, researchers have estimated that as of 2019, there were 17,730 new SCI (Spinal cord injury) cases that occur each year. Researchers also estimated that between 249,000 and 363,000 people were living with SCI in the United States in 2019.

In 2019, organizations in the United Kingdom like Spinal Injuries Association, Aspire and Back Up estimated that around 2,500 people are injured or are diagnosed with a spinal cord injury every year in the country. They also estimated that the total number of people living with a spinal cord injury in the UK was 50,000 in 2019. Patients suffering from SCI need support and continuous monitoring. According to the United States Census Bureau’s Statistics in 2019, the total number of people aged 65 and older exceeded 54 million, and between 2020-2030, the number of elderly is projected to increase by almost 18 million. Additionally, as the elderly population is more prone to chronic disorders, there is a greater chance of longer stays in hospitals. Mechanical lift handling equipment are used extensively by caregivers while dealing with these types of patients.

Most mechanical lifting equipment which are manually operated are more cost effective in the long term and easy to use. These developments are likely to drive the adoption of mechanical lift handling products over the forecast period.

North America is Expected to Hold Largest Market Share over the Forecast Period

The major factors driving the growth of the market in the United States are the rising prevalence of various musculoskeletal conditions and the availability of better healthcare infrastructure, as compared to many other countries. Musculoskeletal conditions are one of the most debilitating and expensive conditions in the United States. Back- and Spine-related disorders hold a major share among musculoskeletal problems.

According to a World Health Organization report from 2019, musculoskeletal conditions were the leading contributor to disability worldwide, with low back pain being the single leading cause of disability globally. With the increase in age of the United States population, musculoskeletal diseases are becoming a huge burden for the country.

According to 2018 data from the Survey of Occupational Injuries and Illnesses, there were 272,780 (or 30 percent) DAFW (days away from work) cases in the United States private sector being musculoskeletal disorder cases. Additionally, according to a July 2020 article by ErgoPlus, musculoskeletal conditions account for almost 400,000 injuries every year in the United States. ErgoPlus estimated the direct costs of musculoskeletal conditions are USD 20 billion a year, while the total costs are estimated to be between USD 45-54 billion. Rising musculoskeletal disorders in the United States are expected to increase the demand for mechanical lift handling equipment during the forecast period.

Competitive Landscape

The patient mechanical lift handling equipment market is fragmented owing to the presence of various key companies. Some of the market players are Gainsborough Healthcare Group, ARJO, Handicare Group AB, Hill Rom Holding Inc., Invacare Corporation, Joerns Healthcare, Inc., Mangar International, Inc, Stryker Corporation, Sunrise Medical LLC, and Guldmann Inc.

The competition in the market is majorly based on the pricing of equipment. Additionally, the key players have been involved in various startegic alliances such as acquisitions, collaborations along with launch of advanced products to secure the position in the global market. For instance, in July 2020, Invacare Corporation partnered with Alber, to announce the United States introduction of SMOOV one, an innovative and pioneering power-assist solution.

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Issued By Statzy Market Research
Country India
Categories Health
Tags patient mechanical lift handling equipment market , patient mechanical lift handling equipment market forecast , patient mechanical lift handling equipment market share , patient mechanical lift handling equipment market size
Last Updated April 28, 2021