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(Health-NewsWire.Net, August 26, 2021 ) The Key Growth Elements in Detailed?
The Due to the outbreak of corona virus globally, there is a sudden rise in the demand for patient lateral transfer services. The Growth in Patient Lateral Transfer Market will majorly be driven by the high risk of musculoskeletal injuries to caregivers during manual handling of patients and the implementation of regulations to minimize manual patient handling. However, the lack of training to caregivers for the efficient operation of patient handling equipment is a key challenge in this market.
Worldwide Growth Opportunities in Terms of Revenue:
The patient lateral transfer market is expected 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 of 2020 to 2025.
Growth Drivers: High risk of injuries to caregivers during manual handling of patients;
The Manual handling of disabled patients may result in severe musculoskeletal injuries to caregivers, it can cause caregiver injury and put patients at risk of falls, fractures, bruises, and skin tears. With age, healthcare workers statistically become more vulnerable to infections and musculoskeletal injuries. According to OSHA (Occupational Safety and Health Administration), approximately 34% of all injuries occurring in hospital workforce are related to patient interactions and patient handling; of these, back injuries are the most prevalent. The risk of back injuries increases during lateral transfer, as caregivers must reach over the stretcher to the bed and physically pull the patient across onto a stretcher. Thus, to prevent injuries among caregiver’s, lateral patient transfer device demand has increased over the years and this is expected to increase further.
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Regional Growth, Development and Demand Analysis:
The patient lateral transfer market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latina America, and the Middle East and Africa. In 2019, North America accounted for the largest share. The large share of North America can primarily be attributed to the growing number of COVID-19 cases, rising prevalence of musculoskeletal disorders among caregivers, growing geriatric population, and the increasing incidence of chronic and lifestyle diseases. Due to its growing geriatric population segment and environmental conditions have favored the spread of COVID-19 which has severely affected the region and ensured enormous growth in the demand for patient lateral transfer devices. Players in this and adjacent, or even non-related, markets have focused on or collaborated for expanding the products of patient lateral transfer.
Major Key Players Mentioned in the research report are:
Some of the prominent players in patient lateral transfer market are Stryker Corporation (US), Hill-Rom Holdings, Inc. (US), Sizewise (US), Arjo (Sweden), Haines Medical Australia (Australia), Handicare (Sweden), Medline Industries, Inc. (US), AliMed (US), and Airpal Inc. (US).
Stryker Corporation held 25%-27% share in the patient lateral transfer market. The company provides a suitable range of products in the air-assisted lateral transfer market such as the Sage Prevalon Air Transfer System (MATS). This system reduces the potential risks for back injury. Stryker Corporation has a substantial geographic presence and has rich experience in the global market, making the company one of the top players in the air assisted lateral transfer market. The company has maintained its position in the air-assisted lateral transfer market by focusing on inorganic growth strategy such as acquisitions. For instance, in 2019, Stryker Corporation (US.) acquired Wright Medical Group N.V. (US), a leading medical device company to advance innovation, improve outcomes and reach more patients.
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