Rising Hospital Stay To Augment Patient Lateral Transfer Devices Market Growth

Patient Lateral Transfer Devices Market

Patient Lateral Transfer Devices Market by Product Type (Air-assisted Transfer Mattresses, Slide Sheets, and Lateral Transfer Accessories), Usage (Reusable and Disposable), End User (Hospitals, Ambulatory Surgical Centers, and Other End Users), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The global Patient Lateral Transfer Devices Market is estimated to be valued at US$ 450.05 Million in 2022 and is expected to exhibit a CAGR of 9.4 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Patient Lateral Transfer Devices (PLTD) are tools that assist in decreasing the threat of injury while transferring the patients. These equipment’s also decrease the duration of time need for transferring a patient and also reduces the stress that is put by the nurses. Patient Lateral Transfer Devices lifts the patient in one smooth direction, decreasing the threat of friction and clip forces that can lead to further wound on the skin. Various reasons are driving the market for patient lateral transfer devices. Increasing cases of musculoskeletal ailment amidst healthcare suppliers and stringent rules targeting at decreasing manual patient lifting is propelling the need for these goods.

Competitive Landscape:

Key players involved in the growth of the global Patient Lateral Transfer Devices Market are Arjohuntleigh, Cantel, Medical Corporation, Stryker Corporation, Blue Chip Medical, and Hill-Rom Holdings Inc.

Market Key Drivers:

Rising geriatric population and increasing chronic diseases is expected to boost the growth of global Patient Lateral Transfer Devices for Market. For instance, as per World Population Prospects, the number of geriatric people, aged 65 years or above, is projected to double by 2050 across the globe, increasing from 703 million in 2019 to 1.5 billion in 2050.

The rising number of surgical processes further leads to enduring stays in hospitals, which is projected to propel the growth of global patient lateral transfer devices for market. For instance as per a report by Mary Elizabeth Dallas in 2019, above a million Americans have joint replacement surgery annually.

Competitive Landscape:

The Covid-19 outbreak has adversely affected the growth of global Patient Lateral Transfer Devices Market due to the lockdown restrictions. The surge in pandemic had led to the delay in surgeries and hospital visits. Lack of physicians, beds and healthcare staff along with the halt in appointments and closure of clinics has impeded the market growth.

Key Takeaways:

The global patient lateral transfer devices for market is anticipated to exhibit a CAGR of 8.3 % during the forecast period rising number of admission in hospitals. For instance, as per NHS, in 2020 around 17.2 million patients were admitted to healthcare centers.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in the global Patient Lateral Transfer Devices Market due to mergers and acquisitions, product expansions and increasing chronic diseases, rising hospital admissions, increasing geriatric population. For instance, around 6 in 10 adults suffer from at least one chronic disease, and 4 in 10 adults in the US have two or more chronic diseases.