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Patient Lateral Transfer Market - Segmentation, Major Players & Geographical Analysis
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.
According MarketsandMarkets™ Research – 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.
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.
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Drivers: High risk of injuries to caregivers during manual handling of patients;
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.
Opportunities: Growing demand of home health care services;
Globally, an increasing number of government regulations are being implemented for reducing the duration and cost involved in healthcare treatments. For instance, the Centers for Medicare and Medicaid Services (CMS) has implemented steps to provide incentives to healthcare providers for reducing hospitalization costs. Under this initiative, the CMS is promoting healthcare settings such as nursing homes and approaches such as home healthcare as they can provide quality care at reduced costs (as compared to the cost of hospitalization). Homecare settings are expected to account for 28.3% of the patient handling equipment market in the US. Owing to this, private nursing institutions and geriatric care homes have become highly viable end-user segments in the US. market. This will eventually increase opportunity for home healthcare services in patient lateral transfer market
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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)
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.
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