Patient Lift Equipment Market Overview
Patient Lift Equipment Market size was valued at USD 3.81 billion in 2023. The Patient Lift Equipment market industry is projected to grow from USD 4.17 Billion in 2024 to USD 8.34 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.01% during the forecast period (2023 - 2032).
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Patient Lift Equipment Market Trends
Rise in geriatric population boosts market growth.
The patient lift equipment market is hanging for extensive growth, driven by the increasing geriatric population, which considerably raises the demand for mobility assistance solutions. According to the United Nations, an international organization, the proportion of the world's population aged 65 and up is expected to increase from 10% in 2022 to 16% in 2050. As the world’s elderly population grows, then they require support with daily activities, including lifting and moving, and this will continue to surge. This shift is a decisive driver for the patient lift equipment market, as older adults often suffer from chronic conditions, reduced mobility, and increased frailty, necessitating the use of specialized equipment to ensure their safety and comfort. Furthermore, the developing emphasis on enhancing the fine of lifestyles for the elderly, along with improvements in healthcare technology, has led to the development of greater state-of-the-art and consumer-friendly patient carry systems. These improvements include advanced battery-powered lifts, clever loop era in sling straps, and ergonomically designed gadgets that enhance each affected person and caregiver protection. The need to mitigate the risk of injury from manual patient handling and lessen the physical strain on healthcare workers also contributes to their use in different setups like hospitals, nursing homes, and increasingly, homecare settings.
Patient Lift Equipment Market Segment Insights
Patient Lift Equipment Product InsightsBased on product, the Patient Lift Equipment Market has been segmented into ceiling/overhead lift, stair lift, mobile/floor lift, sit to stand lift, slings, bath & pool lift and lifting accessories. The ceiling/overhead lift segment held the largest market share in 2023, and mobile/floor lift is the fastest-growing segment during the forecast period This is due to the Increasing incidence of chronic diseases and overhead lifts are essential in managing these patients' needs effectively and safely, thus driving demand.
PATIENT LIFT EQUIPMENT MARKET SIZE, BY PRODUCT, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Patient Lift Equipment Type Insights
The Patient Lift Equipment Market segmentation is based on type that include Manual/Hydraulic Lifts, and Electric Lifts. The electric lifts segment held the largest market in 2023, and electric lifts is the fastest growing segment during the forecast period. This is attributed to factors such as the Stringent emissions regulations and government incentives for adopting green technologies are driving the shift towards electric lifts.
Patient Lift Equipment Lifting Capacity Insights
The Patient Lift Equipment Market segmentation is based on lifting capacity 200 to 300 lbs, 300 to 400 lbs, 400 to 600 lbs, 600 to 800 lbs, and others. The 200 to 300 lbs segment held the largest market in 2023 and 400 5o 600 lbs is the fastest growing segment during the forecast period.
Patient Lift Equipment Mode Insights
The Patient Lift Equipment Market segmentation is based on mode, Ceiling/Wall Mounted, and Mobile. The mobile segment held the largest market in 2023, and mobile is the fastest growing segment during the forecast period.
June 2021: Savaria Corporation acquired Silvalea Ltd. (UK) a leading manufacturer of patient transfer slings and accessories. The company has a vast catalog with over 800 sling designs and specializes in the design and development of difficult and complex patient transfer solutions.
Patient Lift Equipment Age Group Insights
Based on age-group, the Patient Lift Equipment Market has been segmented into adults and geriatric. The adults segment held the largest market share in 2023, and geriatric is the fastest-growing segment during the forecast period i.e., 2024 -2032.
Patient Lift Equipment End User Insights
Based on end user, the Patient Lift Equipment Market has been segmented into hospitals, ambulatory surgical centers, rehabilitation centers and others. The hospitals segment held the largest market share in 2023, and others is the fastest-growing segment during the forecast period i.e., 2024 -2032.
Patient Lift Equipment Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Patient Lift Equipment market accounted for the largest market share in 2023. This is due to Growing demand for patient lift equipment due to the increasing aging population in North America, Technological advancements and innovations in patient lift equipment, and Rising prevalence of chronic diseases in the region drive the regional market growth during the forecast period.
Further, the major countries studied are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: PATIENT LIFT EQUIPMENT MARKET SIZE, BY REGION 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Patient Lift Equipment market accounts for the second-largest market share due to Increasing prevalence of disabilities, Growing healthcare infrastructure, and Strategic collaborations with healthcare providers in the region. further, Germany Patient Lift Equipment market was attributed to hold the largest market share, and the Rest of Europe Patient Lift Equipment market is expected to fastest-growing market in the European region.
The Asia-Pacific Patient Lift Equipment market is expected to grow at a significant share from 2024 to 2032. This is due to factors such as growing healthcare infrastructure in many Asia-Pacific countries, increasing awareness about the benefits of patient lift equipment in healthcare settings, and rise in government initiatives to improve healthcare facilities for patients with disabilities and mobility issues. Moreover, China Patient Lift Equipment market is expected to hold the largest market share, and India Patient Lift Equipment market is expected fastest-growing market in the Asia-Pacific region.
The Rest of the World is segmented into the Middle East, Africa, and Latin America. The Patient Lift Equipment market in the above-mentioned regions is likely to witness growth due to growing adoption of advanced technologies in healthcare facilities, and rising government initiatives to improve healthcare infrastructure increases market share in this region.
Patient Lift Equipment Key Market Players & Competitive Insights
The Patient Lift Equipment Market is characterized by the presence of many global, regional, and local vendors. Developments in the healthcare industry and growing research and development make the Patient Lift Equipment market lucrative. To expand their reach and optimize their operational costs, the major players focus on obtaining regulatory authorizations from government agencies for their products and emphasize acquisitions and product launches to gain a substantial market share. The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach across the globe with diverse product portfolios. Companies such as Baxter, Arjo, Invacare Corporation, V.Guldmann A/S, Joerns Healthcare, Savaria Corporation, Etac AB, Human Care, Beka Hospitec GmbH, and Amico dominate the Patient Lift Equipment Market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are focused on investing in research and development. Furthermore, they adopt strategic growth initiatives, such as expansion, product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.
One of the primary business strategies adopted by manufacturers in the global patient lift equipment industry to benefit clients and expand the Patient Lift Equipment market sector is to manufacture locally to reduce operating costs.
Invacare Corporation (Invacare) is involved in the manufacturing and distribution of innovative homecare and long-term medical care products that promote an active lifestyle and enhance rehabilitation and recovery. The company has three product categories: lifestyle products, respiratory therapy products, and mobility & seating products. Furthermore, other services offered include repair, equipment rentals, and external contracts. Invacare has a strong presence in North America (Canada and the United States), Asia-Pacific (Australia and New Zealand), and Europe (Austria, Belgium, Denmark, Germany, the Faroe Islands, France, Greenland, Greece, Ireland, Italy, Iceland, Luxemburg, the Netherlands, Norway, Portugal, Finland, Spain, Sweden, Switzerland, and the United Kingdom) and sells its products in over 100 countries worldwide. The company primarily sells its products to home medical equipment providers, residential care operators, dealers, and government health services across North America, Europe, and Asia Pacific.
Key Companies in the Patient Lift Equipment Market include
- Baxter
- Arjo
- Invacare Corporation
- Guldmann A/S
- Joerns Healthcare
- Savaria Corporation
- Etac AB
- Human Care
- Beka Hospitec GmbH
- Amico
Patient Lift Equipment Industry Developments
May 2022: Invacare Corporation launched Birdie Evo XPLUS, an innovative patient lift solution for the post-acute care setting. The Birdie Evo XPLUS is a sleek and contemporary device that offers cutting-edge technology to optimize comfort and security when moving or lifting a patient onto or out of a bed, chair, or floor.
October 2020: Invacare Corporation launched the ISA Premier Series Stand Assist Lifts in the US market. Patient lifts with the ISATM (Invacare Stand Assist) feature set provide the best possible functionality and cutting-edge features for the most comfort and security when moving patients who are weight-bearing or who require rehabilitation assistance.
Patient Lift Equipment Market Segmentation:
Patient Lift Equipment Product Outlook (USD Billion, 2019-2032)
- Ceiling/Overhead Lift
- Stair Lift
- Mobile/Floor Lift
- Sit To Stand Lift, Slings
- Bath & Pool Lift
- Lifting Accessories
Patient Lift Equipment, Equipment Type Outlook (USD Billion, 2019-2032)
- Manual/Hydraulic Lifts
- Electric Lifts
Patient Lift Equipment Lifting Capacity Outlook (USD Billion, 2019-2032)
- 200 To 300 Lbs
- 300 To 400 Lbs
- 400 To 600 Lbs
- 600 To 800 Lbs
- Others
Patient Lift Equipment Mode Outlook (USD Billion, 2019-2032)
- Ceiling/Wall Mounted
- Mobile
Patient Lift Equipment Age Group Outlook (USD Billion, 2019-2032)
Patient Lift Equipment End User Outlook (USD Billion, 2019-2032)
- Hospitals
- Ambulatory Surgical Centers
- Rehabilitation Centers
- Others
Patient Lift Equipment Regional Outlook
-
North America
-
Europe
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 3.81 billion |
| Market Size 2024 |
USD 4.17 billion |
| Market Size 2032 |
USD 8.34 billion |
| Compound Annual Growth Rate (CAGR) |
10.54% (2024-2032) |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Historical Data |
2019 to 2022 |
| Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Component, Product, Model, Delivery Mode, Mode of Advice, Setting, Type, and Application |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea. |
| Key Companies Profiled |
Baxter, Arjo, Invacare Corporation, V.Guldmann A/S, Joerns Healthcare, Savaria Corporation, Etac AB, Human Care, Beka Hospitec GmbH, and Amico |
| Key Market Opportunities |
Shift towards home-based care |
| Key Market Dynamics |
Growing incidences of diabetes Rise in geriatric population Rising prevalence of chronic diseases |
Frequently Asked Questions (FAQ) :
The Patient Lift Equipment Market is anticipated to reach 8.34 billion at a CAGR of 8.01% during the forecast period of 2024-2032.
The US held over 77.12% share of the North America market for the Patient Lift Equipment market during the forecast period of 2024-2032.
The Patient Lift Equipment market is expected to grow at a 8.01% CAGR during the forecast period from 2024 to 2032.
The North American region market held the largest market share in the Patient Lift Equipment market.
The key players include Baxter, Arjo, Invacare Corporation, V.Guldmann A/S, Joerns Healthcare, Savaria Corporation, Etac AB, Human Care, Beka Hospitec GmbH, and Amico.
The Ceiling/Overhead Lift segment was estimated to lead the Patient Lift Equipment market.
