Patient Handling Equipment Industry Trends Have Improved Technology For Enhanced Efficiency And Patient Experience
Segments covered: By Product Type – Wheelchairs, Mobility Scooters, Medical Beds, Patient Transfer Equipment, Others; By Care Type – Critical Care, Fall Prevention, Bariatric Care, Wound Care, Others; By End-User – Homecare, Hospitals, Others; By End-User – Biopharmaceutical And Pharmaceutical Companies, Research Institutes
LONDON, April 07, 2021 (GLOBE NEWSWIRE) -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
According to The Business Research Company’s patient handling equipment industry report, technological advancements in patient handling equipment are leading to new opportunities in the healthcare industry. Major players in the patient handling equipment market are adopting several strategies to update their products through advanced technologies such as IoT sensors. For instance, in October 2020, Stryker launched the industry's first and only completely wireless hospital bed, ProCuity. This was designed with the latest advanced technologies to help reduce fall-related injuries, to promote safe patient handling and improve nurse workflow efficiencies and safety, as well as help lower hospital costs. The key features of the ProCuity include completely wireless, ergonomic side rails, intuitive patient and bed monitoring systems, a zoom motorized drive, and enhanced patient experience.
Players in the patient handling equipment market are also adopting RFID technology to update their products. Patient handling equipment rely on RFID technology to track patient beds and other hospital equipment. Radio Frequency Identification (RFID) is a technology that uses radio waves to encode and read smart labels. It belongs to the automatic recognition and data capture technology community (AIDC). RFID in patient tracking helps to maintain high standards for hospitals, relieve nurses of high-exertion tasks, and improve patient handling experiences. The sales of medical beds and patient handling equipment due to growing injured elderly patients rapidly worldwide. Specialty beds for curative care, long-term care, and psychiatric care are helping fuel the market increase. These demands are resulting in new, innovative patient handling equipment driven by RFID technology. They include lateral transfer systems, convertible chairs, and ceiling lifts with smart technology. Such innovations can transform the experiences of both patients and care takers.
With patient handling equipment market trends improving technology and thus efficiency and experience, the global patient handling equipment market size is expected to grow from $14.23 billion in 2020 to $15.57 billion in 2021 at a compound annual growth rate (CAGR) of 9.4%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The patient handling equipment market is expected to reach $23.07 billion in 2025 at a CAGR of 10%.
The Business Research Company’s report titled Patient Handling Equipment Global Market Report 2021: COVID-19 Implications And Growth To 2030 covers major patient handling equipment companies, patient handling equipment market share by company, patient handling equipment manufacturers, patient handling equipment market size, and patient handling equipment market forecasts. The report also covers the global patient handling equipment market and its segments.
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A more specific advancement in technology would be the smart wheelchairs that are a key trend gaining popularity in the patient handling equipment market. A smart wheelchair is a power wheelchair fitted with sensors, cameras, and a computer-based system as the main processing unit, allowing it to handle complex tasks. Major organizations and researchers are concentrating on smart wheelchairs that incorporate sensors and intelligence to reduce the need for human interaction. For instance, in December 2020, Phoenix Instinct, a UK-based company introduced a lightweight wheelchair with a movable axle position that prevents overbalancing by automatically adjusting the chair's center of gravity. The wheelchair is fitted with sensors which detect whether the user is moving forward or backward and change the axle angle to compensate.
Thus, the best market-trend-based strategies for the patient handling equipment include a 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.
Patient Handling Equipment Global Market Report 2021: COVID-19 Implications And Growth To 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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