The patient lateral transfer devices market was valued at about USD 260 million in 2020, and it is expected to reach USD 465 million in 2026, with a CAGR of 8.5% over the forecast period.
Due to the COVID-19 public health emergency, the demand for patient lateral transfer devices has slightly decreased due to the number of surgical procedures. However, it has also been found that the number of geriatric population suffering from severe COVID-19 conditions is high, thus, increasing the number of hospitalization rates, and the number of deceased patients due to COVID-19 is on a surge. Such factors may increase the demand for patient lateral transfer devices in hospitals and other healthcare settings. According to the WHO, 95% of deaths due to COVID-19 are recorded among those older than 60 years, and globally, more than 50% of all deaths were of people aged 80 years or older.
The major factors contributing to the growth of the patient lateral transfer devices market are the increasing geriatric population and the rising burden of chronic diseases. According to the data from World Population Prospects: the 2019 Revision published by the United Nations, the number of elderly people, aged 65 years or above, is expected to double by 2050 globally, rising from 703 million in 2019 to 1.5 billion in 2050. Globally, the population group aged 65 years or over is registering faster growth rates than all younger age groups.
Therefore, the demographic trends pertaining to the aging population and the rising incidences of chronic diseases have led to the longer stay of patients in hospitals, which may increase the demand for patient lateral transfer devices over the forecast period, as they help transfer patients from their beds for any urgent medical purposes. In November 2019, the World Health Organization published a report on musculoskeletal conditions. It stated that musculoskeletal conditions were the leading contributors to disability. Between one in three and one in five people live with a musculoskeletal pain condition throughout their lives.
Moreover, the growing number of surgical procedures further leads to longer stays in hospitals, which is also a major factor driving the demand for patient lateral transfer devices. According to a research article published on Healthgrades by Mary Elizabeth Dallas in 2019, more than a million Americans have joint replacement surgery every year. This includes about 720,000 knee replacements, 330,000 hip replacements, and about 500,000 PCIs (percutaneous coronary interventions) performed every year.
However, the lack of a skilled workforce for handling the transfer of patients is one of the key factors hampering the growth of the market.
Key Market Trends
The Hospitals Segment is Expected to Hold Significant Market Share over the Forecast Period
Hospitals are well equipped with advanced technological equipment for patient handling and management. The expanding healthcare infrastructure in emerging economies and the support from government organizations are also helping the growth of the segment of the patient lateral transfer devices market.
The hospitals segment has dominated the overall patient lateral transfer devices market, owing to the growing number of people suffering from mobility disability and the increasing geriatric population, coupled with the surging number of hospital admissions. For instance, in the United Kingdom, over 17.2 million patients were admitted to hospitals in 2020, according to the National Health Service (NHS) data.
According to the Bureau of Labor Statistics, in 2018, around 50% of nurses suffered back pain and musculoskeletal injuries due to the manual care of patients. The US government has set up a 'minimal lift' regulation to bring down the rate of such injuries. Additionally, several hospitals and healthcare centers, including Stanford Hospital and Clinics, have introduced a secure patient handling and mobility plan to minimize the possibility of such incidents among healthcare professionals. Thus, considering all the factors mentioned above, the market is expected to witness growth over the forecast period.
Moreover, the increasing incidence rates of COVID-19 cases are driving demand for patient lateral transfer devices, owing to the large pool of patients getting admitted into hospitals and the surge in the requirement for transportation support in critical situations to shift patients, especially the elderly population. For instance, according to the Italian National Institute of Health, from November 2020 to February 4, 2021, 19,743 patients were hospitalized in Italy due to COVID-19.
North America Dominates the Patient Lateral Transfer Devices Market
The major factors driving the growth of the market are the rising prevalence of various musculoskeletal conditions and the presence of better healthcare infrastructure, as compared to most developed countries.
As per the Government of Canada's statistics report, as of July 2019, around 6,592,611 elderlies were present, accounting for 17.5% of the Canadian population. However, the proportion of seniors in Canada has been increasing over time.
According to the Centers for Disease Control and Prevention's 2021 updated statistics, 6 in 10 adults in the United States have at least one chronic disease, and 4 in 10 adults in the United States have two or more chronic diseases. As per the same report, heart disease, cancer, chronic lung disease, stroke, Alzheimer's disease, diabetes, and chronic kidney disease result in annual healthcare costs of around USD 3.8 trillion on the US healthcare system.
There is a growing trend in the prevalence of obesity and overweight across the region, which has further increased over the last three decades. People who are obese and overweight are likely to be affected by major chronic illnesses that require admission to a healthcare facility when the condition worsens. This factor is likely to increase the demand for patient lateral transfer devices, as it is difficult to transport them manually. Statistics of the Centers for Disease Control and Prevention showed a significant increase in the prevalence of obesity among adults aged 20 years and over in the United States. The prevalence rate of obesity increased from 37.7% to 42.4%, and the prevalence of severe obesity increased from 7.7% to 9.2% between 2013 to 2018 in the United States. Thus, owing to the factors mentioned above, the market is expected to witness high growth over the forecast period in North America.
Additionally, owing to the increasing number of hospitalizations in the region due to the ongoing COVID-19 pandemic, the market for patient lateral transfer devices is expected to grow significantly. As per the Morbidity and Mortality Weekly Report (MMWR) by the CDC, it was found that around 18.8% of COVID-19 cases in the United States recorded among those aged 65-74 years required admission to an intensive care unit.
The patient lateral transfer devices market is moderately competitive, and there are several global companies that are operating in the market. The major players in the market are Stryker Corporation, Arjohuntleigh, Blue Chip Medical, Cantel Medical Corporation, and Hill-Rom Holdings Inc., among others. Furthermore, in the emerging regions, many companies are competing with global players and established local players. Moreover, key players are developing and launching novel products and technologies to compete with existing products, while others are acquiring and partnering with other companies trending in the market. For instance, in July 2019, Sweden-based Etac AB acquired the US-based air-assisted patient handling technology company, Hover Tech, to strengthen its global footprint.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
TABLE OF CONTENTS
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Rising Burden of Chronic Diseases and Increasing Hospital Stays
- 4.2.2 Increasing Adoption of Home Healthcare Services
- 4.3 Market Restraints
- 4.3.1 Lack of Trained Workforce for Patient Handling
- 4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Product Type
- 5.1.1 Air-assisted Transfer Mattress
- 5.1.2 Slide Sheets
- 5.1.3 Lateral Transfer Accessories
- 5.2 By Usage
- 5.2.1 Reusable
- 5.2.2 Disposable
- 5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Ambulatory Surgical Centers
- 5.3.3 Other End Users
- 5.4 By Geography
- 5.4.1 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 188.8.131.52 Mexico
- 5.4.2 Europe
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 France
- 22.214.171.124 Italy
- 126.96.36.199 Spain
- 188.8.131.52 Rest of Europe
- 5.4.3 Asia Pacific
- 184.108.40.206 China
- 220.127.116.11 Japan
- 18.104.22.168 India
- 22.214.171.124 Australia
- 126.96.36.199 South Korea
- 188.8.131.52 Rest of Asia Pacific
- 5.4.4 Rest of the World
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Arjo
- 6.1.2 AliMed Inc.
- 6.1.3 Blue Chip Medical
- 6.1.4 Cantel Medical Corporation
- 6.1.5 Etac AB
- 6.1.6 EZ Way Inc.
- 6.1.7 Haines Medical Australia
- 6.1.8 Handicare AB
- 6.1.9 Hill-Rom Holdings Inc.
- 6.1.10 McAuley Medical Inc
- 6.1.11 Medline Industries Inc.
- 6.1.12 Patient Positioning Systems LLC
- 6.1.13 Stryker Corporation
- 6.1.14 Wy'East Medical
7 MARKET OPPORTUNITIES AND FUTURE TRENDS