Tech advancements to fuel patient transfer equipment market growth over 2017-2024, influx of government initiatives to augment the industry landscape

Patient transfer equipment market has indeed emerged as one of the most recognized verticals of the healthcare fraternity, primarily driven by the constantly increasing demand for these products from the aging and disabled population base.  The industry has explored a slew of commercialization opportunities lately endorsed by the proven benefits of these products for the patients as well as caregivers. Subject to extensive efforts by both the government and private entities toward ensuring the duo ‘patient-caregiver’ safety, the latest trend in the global patient transfer equipment market is the intervention of technology in the medical devices space. Citing an instance backing the aforementioned statement – in May 2017, Hill-Rom Holdings, Inc., one of the renowned patient transfer equipment industry players, introduced Hill-Rom® Envella™ Air Fluidized Therapy Bed, its technologically advanced wound care solution. Reportedly, the bed, endorsed with an adjustable air flow and sensing technologies, increased depth, and weight pressure distribution, provides comfortable and safe air fluidized therapy for both the caregivers and the patients.Speaking of the end-use spectrum of patient transfer equipment market, hospitals have emerged as a major stakeholder of the global landscape. In fact, as per estimates claimed by Global Market Insights, Inc. hospitals held the largest chunk of the global patient handling equipment industry landscape in 2016, owing to the increasing patient base in need of critical care. This trend further provides an insight into the increasing medical bed market size, which is a major product segment of this fraternity. As per reliable estimates, patient handling equipment market size from medical beds is projected to witness a CAGR of 10.3% over the period of 2017-2024. However, it is also imperative to mention the proliferating demand of home-care services in this business, driven by factors such as high costs associated with hospital based services, long term care demand, and the comfortability quotient.

The report titled “Patient Handling Equipment Market Size By Product, By Application, By End-Use, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” has been published in October 2017. To understand the industry better, request a sample of this report @ https://www.gminsights.com/request-sample/detail/2142

While the growth of patient transfer equipment industry has been appreciable at a global level, Asia Pacific has certainly established itself as one of the most prominent regional contenders. Powered by a strong technology appetite with regard to healthcare fraternity, Japan is claimed to be a major revenue pocket for APAC patient transfer equipment market. One such instance mentioning the technological proceeds of this nation is the introduction of automatic wheelchairs across regional hospitals and airports, which has increased the comfortability of the patients by leaps and bounds. A major trend worth mentioning with regard to the regional patient handling equipment industry is the collaboration of the regional giants with research institutes, to develop next-generation medical devices, with high efficiency and comfortability quotients.

Armed with the intention of consolidating their space in patient transfer equipment market, numerous top shots such as Paramount Bed Holdings, Stryker Corporation, Hill-Rom, and Getinge Group have been conveniently adopting the tried-and-tested tactics of novel product development and joint ventures. The appreciable proliferation of artificial intelligence has led to the deployment of AI-based equipment such as mind-controlled patient assisted wheelchairs, that is likely commendably expand the product landscape of patient transfer equipment industry. Essentially driven by the lucrative initiatives undertaken by regional governments in order to transform the dynamics of the healthcare space, patient transfer equipment market, undeniably, would traverse alongside a rather profitable growth path in the ensuing years.