by The Patient Lateral Transfer Devices Market is estimated to be valued at US$ 291.6 Mn in 2021 and is expected to exhibit a CAGR of 9.7% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Patient lateral transfer devices are specialized medical equipment that assist healthcare professionals in safely and efficiently moving patients from one surface or location to another. These devices are designed to reduce the risk of injury to both patients and healthcare providers during the transfer process. The market for patient lateral transfer devices is driven by the increasing demand for enhanced patient care, coupled with the rising prevalence of disabilities and chronic diseases. The growing geriatric population and the need to minimize manual handling of patients are also contributing to the market growth.
Market Dynamics:
The patient lateral transfer devices market is primarily driven by two key factors. The first driver is technological advancements in the design and functionality of these devices, leading to increased adoption and improved patient outcomes. The integration of advanced features such as motorized transfer systems, ergonomic designs, and integrated weighing scales is expected to drive market growth.
The second driver is the increasing demand for enhanced patient care and the need to minimize the risk of patient falls and injuries during transfer. The rising prevalence of disabilities and chronic diseases, coupled with the growing geriatric population, has increased the demand for patient lateral transfer devices. These devices help in reducing the physical strain on healthcare providers, improving patient comfort, and maintaining their dignity.
Overall, the patient lateral transfer devices market is expected to witness high growth due to technological advancements and the increasing demand for enhanced patient care.
Segment Analysis:
One key segment in the Patient Lateral Transfer Devices market is the Air Assisted Transfer Devices. This segment is dominating the market due to its ability to provide safe and efficient patient transfers. Air assisted transfer devices use air pressure to lift and move patients, reducing the risk of injuries to both patients and healthcare providers. These devices are widely used in hospitals, nursing homes, and other healthcare settings, where the need for patient transfers is common. The air-assisted transfer devices segment is expected to witness high growth in the forecast period, as healthcare facilities continue to focus on patient safety and reducing the risk of manual handling injuries.
PEST Analysis:
Political: The patient lateral transfer devices market is influenced by government regulations and policies related to patient safety and healthcare quality. Stringent regulations regarding patient handling and movement in healthcare settings drive the demand for patient lateral transfer devices.
Economic: The economic factors such as increasing healthcare expenditure and the growing geriatric population contribute to the market’s growth. The rising demand for patient lateral transfer devices is driven by the need to improve patient care and reduce healthcare costs associated with manual patient handling injuries.
Social: The increasing awareness about patient safety and the importance of ergonomics in healthcare settings are social factors driving the demand for patient lateral transfer devices. The focus on reducing the risk of injuries and promoting patient comfort has led to the adoption of these devices.
Technological: The advancements in technology have led to the development of innovative patient lateral transfer devices. These devices incorporate features such as automated controls, pressure sensors, and adjustable height, improving their efficiency and ease of use.
Key Takeaways:
The Global Patient Lateral Transfer Devices Market Demand is expected to witness high growth, exhibiting a CAGR of 9.7% over the forecast period of 2021-2028, due to increasing awareness about patient safety and the need to prevent manual handling injuries in healthcare settings. The market size for 2021 is estimated to be US$ 291.6 Mn.
In terms of regional analysis, North America is the fastest-growing and dominating region in the patient lateral transfer devices market. The high adoption of advanced healthcare technologies, strict regulations regarding patient safety, and the presence of key market players drive the growth in this region.
Key players operating in the patient lateral transfer devices market include Stryker Corporation, Hill-Rom Holdings Inc., Arjo, Handicare AB, Etac AB, Sizewise, McAuley Medical Inc., Medline Industries Inc., Samarit Medical AG, Blue Chip Medical, Haines Medical Australia, Scan Medical Co Inc., Wy’East Medical, GBUK Banana, AliMed Inc., Cantel Medical Corporation, EZ Way Inc., and Patient Positioning Systems LLC. These key players focus on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
