The COVID-19 Fallout: Patient Handling Equipment Market Key Growth Factors and Opportunities in 2020-2027 – Exclusive Report by Research Dive
Pune, Maharashtra,India, November 9 2020 (Wiredrelease) Origius Systems Private Limited –:The emergence of COVID-19 all over the world has impacted the global patient handling equipment market in a positive way. This is mainly due to the growing demand for patient handling equipment from various healthcare institutions for COVID-19 affected patients. Moreover, the rising geriatric population and growing incidents of physical disabilities are expected to be the major factors to drive the market growth after COVID-19 pandemic.
The global patient handling equipment industry is likely to witness an increase in growth rate due to the outbreak of COVID-19. As per a new Research Dive published report, the global patient handling equipment market accounted for $8.8 billion in 2019 and is projected to surpass $17.1 billion by 2027. Comprehensive analysis on drivers, challenges, restraints, lucrative opportunities, and strategies implemented by market players and governments across the globe to sustain in the COVID-19 crisis are further offered in the report.
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Pre Market Forecast and the Current Market Scenario
The global patient handling equipment industry was likely to rise at a CAGR of 7.8% by 2026 prior to COVID-19 crisis. While due to the COVID-19 pandemic, now the market is predicted to rise at a CAGR of 8.5% in the forecast period. This is mainly due to the growing need for patient handling equipment to healthcare institutions for COVID-19 affected patients.
The projected pre COVID-19 market size for patient handling equipment market was $9.4 billion in 2020 and is expected to witness an impressive growth and reach up to $9.7 billion due to COVID-19 pandemic. A number of organizations and companies are focused on increasing the production of beds with advanced technology owing to high demand for beds during COVID-19 crisis. For instance, the Indian Defense Institute of advanced technology, in July 2020 developed medical bed isolation system namely, ‘Aashray’ to combat COVID-19.
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Prominent layers of the Industry
The key players functioning in the global patient handling equipment market are –
1. Antano Group
2. ORTHOS XXI
3. Drive Medical
4. Prism Medical
7. Joerns Healthcare
8. HoverTech International
The report summarizes various aspects of all these key players including product portfolio, financial performance, SWOT analysis, and recent strategic moves & developments. Quick Download Top Companies Development Strategies Summary Report
Post-Pandemic Industry Landscape
As per the report, the global patient handling equipment market is predicted to sustain its progressive growth even after the pandemic. The increasing geriatric population worldwide and the growing incidences of physical disabilities are expected to be the significant factors boosting the global market growth in the forecast period. For instance, according to the World Health Organization (WHO), about 15% of the global population lives with some form of disability, out of which 2% to 4% experience significant difficulties in functioning. Besides, a surge in private nursing care and technological advancements in patient handling equipment is anticipated to propel the market growth after COVID-19 pandemic.
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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