The latest research indicates a remarkable surge in the global patient lateral transfer market, poised to achieve a staggering 9.2% Compound Annual Growth Rate (CAGR) and surpass a market value of US$ 2 billion by the conclusion of 2030, marking a substantial leap from US$ 995.8 million recorded in 2022.
Patient lateral transfer solutions currently dominate a significant share, accounting for 28.8% in the global patient positioning accessories market. This surge is propelled by escalating concerns over musculoskeletal injuries among caregivers during manual patient handling and the concerted efforts to mitigate such risks through the adoption of patient lateral transfer equipment.
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The evolving landscape of the patient lateral transfer market is influenced by various factors, including device regulations, adherence to safety standards, and the adoption rates of products, in alignment with macro and industry standards. Key market developments revolve around advancements in device and equipment, exemplified by the advent of air-powered lateral patient transfer systems, signifying a pivotal shift towards enhanced efficiency and safety protocols.
Commenting on the market trajectory, FMI, remarked, “The exponential growth forecasted for the patient lateral transfer market underscores the pressing need for innovative solutions that prioritize patient safety and caregiver well-being. With the introduction of state-of-the-art transfer systems, we anticipate a paradigm shift in the healthcare landscape, characterized by heightened efficiency and reduced risk of injuries.”
As the global healthcare sector continues to prioritize patient-centric care and safety, the patient lateral transfer market emerges as a crucial domain, poised to redefine standards and elevate the quality of care delivery worldwide.
Key Takeaways: Patient Lateral Transfer Market by 2022 to 2030
- The global patient lateral transfer market is expected to grow significantly, with estimates ranging from a CAGR of 9.2% by 2030. This translates to a market size exceeding US$ 2 billion by the end of the decade.
- Rising awareness of patient safety and the need to reduce caregiver injuries from manual transfers are key drivers of this growth.
- Air-assisted transfer devices are expected to remain the dominant product segment due to their efficiency and ease of use.
- The Asia-Pacific region is projected to witness the fastest growth due to factors like increasing healthcare infrastructure development and growing adoption of advanced medical technologies.
- An aging population and rising healthcare expenditure globally are also contributing to the market expansion.
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Competitive Landscape:
In the realm of patient lateral transfer, numerous prominent contenders vie for dominance alongside both international giants and well-established local enterprises. Leading firms in this sector continually innovate, introducing novel products and technologies to vie with established offerings, while also engaging in acquisitions and partnerships with other industry frontrunners.
The Centers for Medicare and Medicaid Services (CMS) have initiated measures to encourage healthcare providers who demonstrate cost-saving in hospitalizations. CMS is championing the inclusion of nursing homes and home healthcare in this initiative, recognizing their ability to deliver superior care at more affordable rates compared to hospitalization expenses.
Key Companies Profiled:
- McAuley Medical, Inc.
- Patient Positioning Systems LLC
- HoverTech International
- Stryker Corporation (Sage Products LLC)
- Getinge AB (ArjoHuntleigh)
- EZ Way
- Airpal, Inc.
- Arjo
- Medline Industries
- Haines Medical Australia
- Sizewise
- Prism Medical
Key Segments of Patient Lateral Transfer Industry Survey:
Patient Lateral Transfer Market by Product:
- Air-assisted Transfer Devices
- Slide Sheets
- Transfer Accessories
Patient Lateral Transfer Market by Usage:
- Single Patient Use
- Reusable
Patient Lateral Transfer Market by End Use:
- Hospitals
- Clinics
- Ambulatory Surgical Centres
Patient Lateral Transfer Market by Region:
- North America Patient Lateral Transfer Market
- Latin America Patient Lateral Transfer Market
- Europe Patient Lateral Transfer Market
- East Asia Patient Lateral Transfer Market
- South Asia & Pacific Patient Lateral Transfer Market
- Middle East & Africa (MEA) Patient Lateral Transfer Market
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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