The patient handling equipment market was valued USD 13,242 million in 2022, and it will reach USD 18,861.8 million by 2030, powering at a rate of 4.5% in the years to come. This is mainly because of the increasing incidence of debilities and road accidents, improving post-treatment services, and improving healthcare infra.
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Medical bed had about USD around 4 billion revenue in the recent past. This has a lot to do with the growing count of patients necessitating long-term care, tech progressions in ICU beds, snowballing investments in therapeutic infra improvement, and growth in the hospital bed count globally.
Furthermore, the monetary liberalization, wide-ranging policy reforms, and the swift surge in the middle-class populace, together with high purchasing power, are driving the industry in this category.
Hospital were the largest end-users, all over the world. This is because of the growing number of multispecialty and community hospitals in evolving countries.
Moreover, a surge in the importance of private and government bodies on consistent and appropriate treatment has brought about awareness amongst the populace, thus propelling the expansion of the industry in the years to come.
Europe dominated the patient handling equipment market in 2022 with around USD 5 billion, as stated by a market research institution, P&S Intelligence. This is mostly credited to the surge in the initiatives taken by government along with NGOs related to the acceptance of patient managing apparatus in all medical facilities.
Also, the existence of key players, and their numerous strategic expansions, for example product introductions, collaborations, partnerships, mergers, and acquisitions are powering the growth of the industry.
APAC will register the highest growth rate in the years to come, mainly because of the setup of numerous medical facilities.
Additionally, the fast-growing medical industry, on top of the initiatives of the government to offer quality products and the snowballing commonness of lifestyle-associated ailments, is powering the growth of the market.
Due to the increasing healthcare infrastructure all over the world, the demand for patient handling equipment will continue to grow in the years to come.
