Currently, the global patient lifting equipment market is valued at $1.5 billion and is expected to grow at a CAGR of 7.3% through 2027. These insights are supported by market research and competitive intelligence providers.
Over the past few years, interest in patient safety has grown exponentially, resulting in increased demand for patient lifting equipment in various facilities . Growing geriatric population is also expected to favor the growth potential of the patient lifting equipment market in the coming years. Increasing investment in infrastructure development and rising incidence of musculoskeletal injuries are other factors that positively complement the market growth.
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Key players in the patient lifting equipment market
- Baxter International
- Gainsborough Professional Bathroom
- Getting AB
- Gouldman Inc.
- Invacare Corporation
- Yoern’s Healthcare LLC
- Savaria Corporation
Highlights of the Patient Lifting Equipment Market Study
- Sales of patient lifting equipment are expected to grow at a CAGR of 7.3% from 2022 to 2027.
- The patient lifting equipment market is expected to reach $2.3 billion by 2027.
- Rising prevalence of chronic diseases, increasing number of geriatrics, growing obese population, and technological advances in patient handling industry are expected to drive the market growth.
- High cost of patient lifting systems and lack of skilled caregivers are major factors limiting the growth of the patient lifting equipment market.
- The Chinese patient lifting equipment market is expected to expand at a staggering CAGR of 11% from 2022 to 2027.
Patient lifting equipment manufacturers are investing in product development to accelerate product launch and increase sales potential across regions.
- In January 2021, Handicare, a leading provider of accessibility and mobility solutions, announced the launch of a new line of ceiling lifts. The AP Series Portable Ceiling Lift has been launched in North America and allows caregivers to safely lift patients and ensure a safe home environment.
Patient lifting equipment providers are focusing on new product launches to increase their revenue-generating capabilities and gain a competitive edge over other market players.
- In May 2022, Invacare Corporation, the industry leader in patient lifting equipment, announced an innovative patient lift solution for the US market. The Birdie™ Evo XPLUS is equipped with advanced patient lifting technology to ensure maximum comfort and safety when transferring patients from a chair, floor or bed.
- In July 2021, AmeriGlide, a leading stair lift manufacturer, announced the launch of the AmeriGlide UP Stair Lift. The new stair lift is equipped with innovative features to provide maximum safety during use.
Key Segments Covered in the Patient Lifting Equipment Industry Survey
- By product type:
- Ceiling/Overhead Lift
- stair lift
- Mobile/floor lift
- electric standing lift
- bath and pool lift
- lifting sling
- lifting accessories
- End Use:
- home care
- aged care facility
- Other end uses
- By region:
- North America
- Latin America
- East Asia
- South Asia and Oceania
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