Portland, OR, June 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global patient mechanical lift handling equipment market generated $1.24 billion in 2020, and is expected to reach $2.67 billion by 2030, witnessing a CAGR of 8.5% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Rise in bariatric & geriatric population, increase in incidence of musculoskeletal injuries, and surge in number of accidents and disabilities drive the global mechanical lift handling equipment market. However, the high cost associated with the equipment, lack of awareness, and inaccessibility to quality healthcare services restrain the market growth. On the other hand, increase in demand for home healthcare services creates new opportunities in the coming years.
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| Market Size by 2030 | $2676.16 Billion |
| Forecast Year | 2020-2030 |
| CAGR | 8.5% |
| Base Year | 2020 |
| Report Key Pointer | COVID-19 Outbreak & Impact |
Impact of Covid-19 on Patient Mechanical Lift Handling Equipment Market-
- The use of patient mechanical lift handling equipment increased considerably during the Covid-19 pandemic. This is due to rise in number of hospital admissions of infected patients.
- Market players increased investments in materials and resources to cater to rise in demand for equipment across the world.
- Though there were hindrances in supply chain during initial stages of the pandemic, the supply chain regulated post-lockdown.
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The report offers detailed segmentation of the global patient mechanical lift handling equipment market based on product, end user, and region.
Based on product, the powered sit-to-stand lifts segment accounted for the largest share in 2020, contributing to more than one-third of the total share, and is projected to continue its lead position during the forecast period. Moreover, this segment is expected to witness the largest CAGR of 9.4% from 2021 to 2030. The report also analyzes the segments including stand up & raising lifts/aids, overhead/ceiling lifts, floor-based lifts, gantry lifts, bath patient lifters, and others.
Based on end user, the homecare segment held the highest share in 2020, accounting for more than one-third of the total share of the global patient mechanical lift handling equipment market, and is projected to maintain its leadership status position during the forecast period. Moreover, this segment is estimated to manifest the fastest CAGR of 9.3% from 2021 to 2030. The research also analyzes the segments including hospitals, elderly care homes, and others.
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Based on region, North America contributed to the highest share in 2020, accounting for around two-fifths of the total market share, and is expected to continue its dominance in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the largest CAGR of 10.5% during the forecast period.
Leading players of the global patient mechanical lift handling equipment market analyzed in the research include Baxter International Inc., Gainsborough Specialist Bathrooms, Getinge AB, Guldmann Inc., Invacare Corporation, Joerns Healthcare LLC, Savaria Corporation, Stryker Corporation, Sunrise Medical LLC, and Winncare Group.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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