Patient Lateral Transfer Market Opportunity , Growth Factors and Industry Analysis


Posted July 1, 2022 by RosyWills

According to research report the global Patient Lateral Transfer Market size is projected to reach $446.2 million by 2025, at a CAGR of 9.1%.
 
The Growth in the 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.

According to research report the global Patient Lateral Transfer Market size 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 of 2020 to 2025..

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The market is segmented by Product Product (Air Assisted Transfer Device (Type (Regular Mattress, Split Legs Mattress, Half Mattress), Usage (Single Patient Use, Reusable)), Sliding Sheets, Accessories) End User (Hospitals) and Region.

Based on product, the patient lateral transfer market is segmented into air-assisted lateral transfer mattresses, sliding sheets, and accessories. The air-assisted lateral transfer mattresses segment accounted for the largest market share in 2019. The large share of this segment can be attributed to the advantages of these mattresses in overcoming persistent difficulties while handling patients with special conditions.

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 patient lateral transfer 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. Ambulatory surgery centres are expected to witness the highest growth during the forecast period, mainly due factors such as the growing number of digitalization in healthcare field such as mhealth and teleradiology.

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.

The prominent players operating in this market include Stryker Corporation (US), Hill-Rom (US), Arjo (Sweden), Handicare (Sweden), Etac Group (Sweden), Sizewise (US), McAuley Medical, Inc. (US), Medline Industries Inc. (US), Samarit Medical AG (Switzerland), Blue Chip Medical,Inc. (US), Haines Medical Australia (Australia), Scan Medical Co Inc. (US), WY’ East Medical Company (US), GBUK Banana (US), and Alimed (US).These players adopted the strategies of partnerships, agreements, and acquisitions to expand their presence in the global patient lateral transfer market.

Stryker Corporation (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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This study involved four major activities for estimating the current size of the patient lateral transfer market. Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets. The next step focused on validating these findings, assumptions, and sizing with industry experts across the value chain through primary research. Revenue Share Analysis, Parent Market and top-down approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the sizes of segments and sub-segments.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Contact Email [email protected]
Issued By MarketsandMarkets™ INC.
Phone 1-888-600-6441
Business Address 630 Dundee Road Suite 430
Northbrook, IL 60062
Country United States
Categories Business , Health , Medical
Tags patient lateral transfer market
Last Updated July 1, 2022