Patient Handling Equipment Market: Key Growth Strategies Adopted by Prominent Players Like Arjo (Sweden) and Hill-Rom Holdings (US)

Illinois, United States, 2021-Jan-28 — /EPR Network/ —

Key Players in Patient Handling Equipment Market:

The major players in the patient handling equipment market include Arjo (Sweden), Hill-Rom Holdings (US), and Invacare (US). Various growth strategies have been adopted by these players, such as product launches, expansions, partnerships, and acquisitions, to increase their presence in the global patient handling equipment market.

Arjo (Sweden)

Arjo is the leading player in the patient handling equipment market. The company offers a broad range of patient handling equipment that ensures safe, comfortable, and dignified patient transfer. The company is expected to grow at a high rate in the patient handling market during the forecast period, owing to a strong geographic presence, product innovation, robust brand image, wide distribution network, and continuous expansions in developed and developing regions. Arjo focuses on expanding its presence in the patient handling equipment market with the adoption of organic and inorganic growth strategies. In 2019, it acquired an equity stake in Atlas Lift Tech (US), a provider of patient handling and real-time efficiency analytics solutions to strengthen its position in the patient handling segment and to increase its geographical footprint in the US.

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Hill-Rom Holdings (US)

Hill-Rom Holdings provides a wide range of patient handling equipment, such as patient lifts, medical beds, stretchers, and accessories. The company majorly focuses on significant R&D investments for the continuous development and upgradation of its products. Hill-Rom invested USD 0.14 billion in its R&D activities in 2018. The company’s constant focus on innovation helps it in enhancing its product offerings and marking its presence in the patient handling equipment market. For this, the company interacts with a wide customer base and also closely works with clinicians to understand the biggest needs of its end users, which is to deliver a full solution that helps in solving complex patient safety challenges. In line with this, in 2017, Hill-Rom launched a technologically advanced Centrella smart+ bed for hospitals, thus offering optimized patient safety, enhanced patient satisfaction, and advanced caregiver-focused technology.

Key Factors Driving Market Growth:

The growth of patient handling devices market is largely driven by the rising geriatric population, high risk of injuries to caregivers during the manual handling of patients, and the implementation of regulations ensuring the safety of healthcare personnel during manual lifting processes. On the other hand, the persistent difficulties in handling bariatric patients are expected to limit market growth to a certain extent.

Expected Revenue Growth:

The Patient Handling Devices Market is projected to reach USD 12.6 billion by 2024 from USD 8.9 billion in 2019, at a CAGR of 7.2% during the forecast period.

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Regional Growth Analysis:

The APAC market is estimated to grow at the highest CAGR during the forecast period. Factors such as the increasing incidence of MSD-caused injuries to caregivers, growth in the elderly population, healthcare infrastructure improvements, and the increasing prevalence of chronic diseases are the major factors driving market growth in the Asia Pacific. Several countries in the APAC have implemented policies for safe handling to prevent caregiver injuries while transferring and lifting patients. In addition, the overall expansion of economies in India, China, and Southeast Asia has further compelled key industry players to invest in this region owing to the lucrative opportunities presented by this market.