Over the recent years, patient handling equipment market has accrued quite some momentum, inherently influenced by the unprecedented advancements in the medical devices business space. A transformational change has been observed in the healthcare fraternity with regards to value chain, from volume to an outcome-based, patient centric approach. The advent of new technologies, presence of strong regulatory framework, and subsequent emergence of an intense competitive arena has brought forth a slew of complexities for patient handling equipment industry players. Amidst the fierce share battle, product innovation is claimed to be one of the major growth strategies defining the sustainability quotient of the industry.
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Citing a recent instance, HoverTech International, a leading giant in patient handling equipment market has recently extended its product line of highly breathable HoverMatt Single-Patient Use, specifically designed for pressure injury prevention. Reportedly, this advanced fabric technology infused air transfer mattresses protect patient skin by minimizing moisture buildup and heat transfer. Allegedly, with HoverMatt SPU, the caregivers can very smoothly turn, transfer, and position patients without much straining or lifting, given the fact there is a cushion of air beneath the inflated device which claims to reduce the pressure required to move the patient by almost 80% -90%. Experts have been already raving about the new product claiming that it to disrupt the conventional patient handling equipment industry.
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As per estimates, U.S. dominated the North America patient handling industry in 2017, having held a valuation of USD 3,264.8 million. Driven by the enforcement of myriad laws related to safe patient handling and the rising geriatric patient base, U.S. patient handling equipment market is likely to amass extensive returns by 2024.
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The overall patient handling equipment industry, as claimed by Global Market Insights, Inc., will exceed a valuation of USD 23 billion by 2024. The figure is reportedly more than double the market valuation of USD 11 billion attained in 2017. However, one of the major constraints that can hamper the growth of this business space over the ensuing years is the lack of proper training provision for the nursing staffs. Companies, nonetheless, have been increasingly undertaking significant initiatives such as patient handling programs to combat the challenge. Driven by the increasing takeover of technology in equipment design, in tandem with its diversified application matrix, patient handling equipment industry is sure to gain remarkable proceeds in the coming years.