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(Health-NewsWire.Net, June 05, 2021 ) The report "Patient Lateral Transfer Market by Product (Air Assisted Transfer Device (Type (Regular Mattress, Split Legs Mattress, Half Mattress), Usage (Single Patient Use, Reusable)), Sliding Sheets, Accessories) End User (Hospitals) - Global Forecast to 2025", is projected to reach USD 446.2 million by 2025 from USD 288.7 million in 2020, at a CAGR of 9.1% during the forecast period.
Due to the outbreak of corona virus globally, there is a sudden rise in the demand for patient lateral transfer devices. The growth in this market is majorly driven by the high risk of injuries to caregivers during the manual handling of patients, implementation of regulations to minimize manual patient lifting, and the advantages of lateral transfer devices in overcoming persistent difficulties in handling patients with special conditions. However, the lack of training to caregivers for the efficient operation of patient handling equipment is expected to restrain the growth of this market.
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COVID-19 Impact on the Patient lateral transfer Market;
Coronavirus has spread across 215 countries and territories and affected more than 4.4 million people, with close to 300 thousand deaths. Increased number of hospitalizations due the COVID-19 outbreak is anticipated to propel the market growth over the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), April 24, 2020, the rate of hospitalization due to COVID-19, for people of age 65 and above is 95.5 per 100,000. Such high rate of hospitalization has increased the demand of patient lateral transfer devices in the hospitals. Many key players in the market have observed positive impact on its revenue due to higher demand of beds and lateral transfer devices.
Patient Lateral Transfer Market Segmentation in Detailed:
Based on type -
the air-assisted lateral transfer mattresses market has been segmented into regular, split-leg, and half mattresses. In 2019, the regular mattresses segment accounted for the largest market share. The large share of this segment can primarily be attributed to their wide range of benefits and high usage in a variety of settings, such as critical care and emergency settings and operation theaters.
Based on end users -
the patient lateral transfer market is segmented into hospitals, ambulatory surgery centers, and other end users. Hospitals accounted for the largest share of the market in 2019. This can be attributed to many patient admissions in hospitals, rising prevalence of various chronic conditions, and growing regulatory norms to use safe patient transfer equipment.
Geographical View in-detailed:
The Patient Lateral Transfer Market is divided into five regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. These regions are further analyzed at the country levels. North America held the largest share of the patient lateral transfer market in 2019, followed by Europe and the Asia Pacific. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The Asia Pacific market is primarily driven by the increasing awareness regarding the benefits of safe patient handling, the presence of a large population base, growth in the geriatric population, and the rising prevalence of chronic diseases.
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Global Key Leaders:
The products and services market is dominated by a few globally established players such as Stryker Corporation (US), Hill-Rom (US), Arjo (Sweden), Handicare (Sweden) and Etac Group (Sweden)
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