A new report has predicted that the patient handling equipment market will be worth £9.6bn ($12.6bn) by 2024.
This figure is up from £6.7bn ($8.9bn) in 2019 at a CAGR of 7.2% during the forecast period.
The MarketsandMarkets report described how the growth of the sector will be 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.
However, it goes on to explain that the persistent difficulties in handling bariatric patients are expected to limit market growth to a certain extent.
Based on end user, the patient handling equipment market is segmented into hospitals, home care settings, and other end users.
Geographically, Europe will continue to dominate the patient handling equipment market during the forecast period, the report found.
In 2019, Europe accounted for the largest share of this market, followed by North America, with major players including Sweden-based Arjo and US-based Hill-Rom Holdings and Invacare.