Patient Handling Equipment Global Market Opportunities and Strategies to 2030: COVID-19 Implications and Growth provides the strategists, marketers and senior management with the critical information they need to assess the global lending market as it emerges from the COVID-19 shut down.
Reasons to Purchase
Description:
Where is the largest and fastest growing market for the lending? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Patient Handling Equipment market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider lending market, and compares it with other markets.
Scope
Markets Covered:
1) By Product Type: Wheelchairs; Mobility Scooters; Medical Beds; Patient Transfer Equipment; Others
2) By End-User: Homecare; Hospitals; Others
3) By Care Type: Critical Care; Fall Prevention; Bariatric Care; Wound Care; Other
Companies Mentioned: Invacare Corporation; Hill-Rom Holdings Inc; ArjoHuntleigh Inc; Joerns Healthcare LLC; Handicare Group AB
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; United States
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, lending indicators comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Description:
Where is the largest and fastest growing market for the lending? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Patient Handling Equipment market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider lending market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The lending market section of the report gives context. It compares the lending market with other segments of the lending and payments market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, lending indicators comparison.
Scope
Markets Covered:
1) By Product Type: Wheelchairs; Mobility Scooters; Medical Beds; Patient Transfer Equipment; Others
2) By End-User: Homecare; Hospitals; Others
3) By Care Type: Critical Care; Fall Prevention; Bariatric Care; Wound Care; Other
Companies Mentioned: Invacare Corporation; Hill-Rom Holdings Inc; ArjoHuntleigh Inc; Joerns Healthcare LLC; Handicare Group AB
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; United States
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, lending indicators comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Table of Contents
1. Patient Handling Equipment Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure
6. Introduction
7. Patient Handling Equipment Market Characteristics
8. Patient Handling Equipment Market Trends and Strategies
9. Impact Of COVID-19 On The Patient Handling Equipment Market
10. Global Patient Handling Equipment Market Size and Growth
11. Global Patient Handling Equipment Market Segmentation
12. Patient Handling Equipment Market, Regional and Country Analysis
13. Asia-Pacific Patient Handling Equipment Market
14. Western Europe Patient Handling Equipment Market
15. Eastern Europe Patient Handling Equipment Market
16. North America Patient Handling Equipment Market
17. South America Patient Handling Equipment Market
18. Middle East Patient Handling Equipment Market
19. Africa Patient Handling Equipment Market
20. Global Patient Handling Equipment Market Competitive Landscape
21. Key Mergers and Acquisitions In The Patient Handling Equipment Market
22. Patient Handling Equipment Market Opportunities & Strategies
23. Patient Handling Equipment Market, Conclusions and Recommendations
24. Appendix
List of Tables
Executive Summary
This report describes and explains the global patient handling equipment market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.The global patient handling equipment market reached a value of nearly $14,230.0 million in 2020, having increased at a compound annual growth rate (CAGR) of 5.9% since 2015. The market is expected to grow from $14,230.0 million in 2020 to $23,070.0 million 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 $33,699.9 million in 2030.
Growth in the historic period in the patient handling equipment market resulted from increased geriatric population, increased healthcare expenditure, increasing prevalence of chronic diseases, strong economic growth in emerging markets and regulations favoring disabled friendly places. The market was restrained by political uncertainties, low healthcare reimbursements, and insufficient training to caregivers for operating patient handling equipment.
Going forward healthcare infrastructure improvements, rise in healthcare expenditure, and rapid growth in the geriatric population will drive the growth in the patient handling equipment market. Factors that could hinder the growth of the market in the future include high price of patient handling equipment, difficulties in handling bariatric patients, challenges due to regulatory changes, and coronavirus pandemic.
The patient handling equipment market is segmented by product type into wheelchairs, mobility scooters, medical beds, patient transfer equipment, and others. The medical beds was the largest segment of the patient handling equipment market segmented by product type, accounting for 45.8% of the total in 2020. Going forward, the patient transfer equipment segment is expected to be the fastest growing segment in the patient handling equipment market segmented by product type, at a CAGR of 26.2% during 2020-2025.
The patient handling equipment market is also segmented by care type into critical care, fall prevention, bariatric care, wound care and other care. 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.
The patient handling equipment market is also segmented by end-user into homecare, hospitals, and other end users. The other end user market was the largest segment of the patient handling equipment market segmented by end user, accounting for 37.6% of the total in 2020. Going forward, it is expected to be the fastest growing segment in the patient handling equipment market segmented by end-user, at a CAGR of 11.1% 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 where growth will be at CAGRs of 15.1% and 14.1% respectively during 2020-2025. These will be followed by Africa and Asia-Pacific, where the markets are expected to register CAGRs of 11.9% and 11.6% respectively during 2020-2025.
The global patient handling equipment market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to 11.68% of the total market in 2019. Leading players include The Invacare Corporation, Hill-Rom Holdings Inc., Arjohuntleigh Inc., Joerns Healthcare LLC, and Handicare Group AB.
The virus has disrupted supply chains of various industries across the globe including patient handling equipment. Closure of international borders, cargo transportation, major raw material and basic components production units in countries including China and India, and government measures towards import COVID-19 management equipment such as PPE and ventilators, highly affected the supply chain of patient handling equipment. Ultimately, the above factors led patient handling equipment manufacturing companies to manufacture less units across the globe, thereby significantly effecting the companies’ revenues.
In the wake of COVID-19, the patient handling equipment market was negatively impacted from the demand side, leading to the decline in the sales of equipment. These lower sales of equipment were caused due to restricted access to healthcare facilities, lockdowns, and postponed elective care. For instance, the sales of patient handling equipment by ArjoHuntleigh Inc., a player in the market, have faced challenges associated with COVID-19. There has been an impact on the supply chain, which led to production disruptions and others which affected the revenue of the company. The total revenue of the company decreased to 2,143 SEK million ($17,968 million) in the third quarter of 2020, having been at 2,154 SEK million ($18,061 million) in the third quarter of 2019.
The top opportunities in the patient handling equipment market segmented by product type will arise in the patient transfer equipment segment, which will gain $3,168.8 million of global annual sales by 2025. The top opportunities in the patient handling equipment market segmented by care type will arise in critical care segment, which will gain $3,699.0 million of global annual sales by 2025. The top opportunities in the patient handling equipment market segmented by end-user will arise in other end-user segment, which will gain $3,706.3 million of global annual sales by 2025. The patient handling equipment market size will gain the most in the USA at $2,124.0 million.
Market-trend-based strategies for the patient handling equipment includes focus on incorporating sensors and intelligence in wheelchairs to reduce the need for human interaction, investing extensively in R&D activities for the development of effective and innovative treatments, strategic collaborations to boost innovations, products and services that can establish category leadership, and adopting RFID technology to enhance patient experience.
Player-adopted strategies in the patient handling equipment market includes strategic acquisition to expand their business and operational presence, and adaption of transformation and growth plan for commercial effectiveness, product innovation, and simplifying business.
To take advantage of these opportunities, the publisher recommends the patient handling equipment manufacturing companies to consider Radio Frequency Identification (RFID) technology and focus on other technological innovations to improve efficiency and product innovation, establishing operations in emerging markets to gain market share, provide competitively priced offerings in low income countries to reach new users, offer value-based pricing, and participate in trade shows and events to reach targeted audience, and target local pharmacies to spread awareness among other strategies.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Drive Divilbiss Healthcare Inc.
- ETAC AB
- Gf Health Products Inc.
- Prism Medical UK
- Guldmann, Inc.
- V. Guldmann A/S
- Linet Inc.
- Stryker Corporation
- Ottobock SE & Co
- Malvestio
- Ossenberg
- Antano Group
- Stiegelmeyer
- Mangar Health
- Lojer Oy
- KNESTEL Technologie
- Elektronik GmbH
- Imaxd
- Karma
- Reac Poland Sp.Zoo
- Mobilex
- Paramount Bed Holdings
- Umano Medical
- MEDITEK
- OpeMed Ltd
- DJO LLC
- Getinge AB
- Joerns Healthcare LLC
- Sunrise Medical LLC
- Paramount Bed Co. Ltd
- Medline Industries, Inc
Methodology
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