The global patient lateral transfer devices market facilitates safe and comfortable transportation of patients between different surfaces such as beds, stretchers, chairs, and others. These devices prevent manual lifting and thereby help reduce back pain, strains, and other musculoskeletal injuries among caregivers.
The global patient lateral transfer devices market is estimated to be valued at US$ 350.91 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising incidences of accidental injuries, hospitalizations due to diseases and resultant disabilities among geriatric population across the world have been a key driver for the increasing adoption of patient lateral transfer devices. According to the data by World Health Organization (WHO), road accidents caused around 1.35 million deaths globally in 2016. Also, approximately 50 million people sustain non-fatal injuries from road traffic crashes requiring immediate medical assistance. With growing elderly population susceptible to injuries and disabilities, the need for safe patient transfer devices is increasing steadily to prevent manual handling injuries among caregivers. This rising demand from healthcare sector is expected to significantly contribute to the growth of global patient lateral transfer devices market over the forecast period.
Strength: Patient lateral transfer devices help in easy and safe transfer of patients from one surface to another. They reduce physical strain and injuries to caregivers.
Weakness: Requirement of training to use these devices properly. Possibility of device malfunctioning during use.
Opportunity: Growing geriatric population prone to mobility issues and injuries creates demand. Increasing number of healthcare facilities adopting such aids.
Threats: pricing pressures from local manufacturers. Stringent regulatory guidelines raise compliance costs.
Global Patient Lateral Transfer Devices Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 350.91 Mn by 2023 growing at a CAGR of 8.7% through 2030.
Regional analysis shows that North America currently dominates the market owing to presence of major players, faster adoption of technologies. Asia Pacific offers lucrative opportunities for growth led by improving healthcare infrastructure and rising medical tourism in countries like India and China.
Key players operating in the patient lateral transfer devices market include ESI Group, COMSOL, Numeca International, Ansys, EXA Corp. These companies are focusing on new product launches and geographical expansion to gain market share. Strategic acquisitions of smaller players help them strengthen foothold. Companies also invest in R&D to develop advanced models providing enhanced patient safety and clinical outcomes.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it