Patient lateral transfer devices are assistive tools that aid caregivers to safely move patients from one surface to another without causing any injuries. These devices help prevent back injuries to caregivers from lifting or moving patients unassisted. They include sliding sheets, transfer belts, air-assisted devices and other assistive equipment. They allow one- or two-person transfer of patients weighing between 125 to 500 pounds. These are majorly used for transferring a patient from a bed to stretcher, wheelchair, and other medical surfaces.
Market Dynamics:
Patient Lateral Transfer Devices Market is Estimated to Witness High Growth Owing to Rising Prevalence of Hospital-Acquired Injuries
As mentioned earlier, the rising prevalence of hospital-acquired injuries is a major driver augmenting the growth of global patient lateral transfer devices market over the forecast period. According to a report by World Health Organization, over 15% of patients suffer injuries like falls, bed sores and back injuries due to unsafe patient handling at hospitals. This has increased the demand for assistive transfer devices to prevent such occurrences. In addition, growing geriatric population worldwide which is more prone to disabilities and injuries further fuel the market growth. Stringent regulations aimed at ensuring workplace safety of caregivers and patients also propel the adoption of patient transfer equipment. However, high cost of advanced devices may hinder market growth.
SWOT Analysis
Strength: Patient lateral transfer devices provide safe transfer of immobile patients between different surfaces such as beds, stretchers, and wheelchairs. These devices reduce physical strain on caregivers and risk of injuries to caregivers and patients during transfer procedures. Many patient lateral transfer devices are equipped with features such as sliding sheets and air-assisted lifting for enhanced performance and safety.
Weakness: Higher costs associated with powered patient lateral transfer devices can restrain their adoption in budget-constrained healthcare settings. Limited technical expertise is also required to properly handle powered devices.
Opportunity: Rising geriatric population globally prone to limited mobility increases demand for assistive devices for safe patient handling. Growing investments by hospitals in patient safety and handling equipment also opens growth opportunities.
Threats: Reimbursement policies regarding assistive devices vary globally which can affect purchasing decisions. Presence of local and regional manufacturers providing low-cost alternatives also poses competition.
Key Takeaways
Global Patient Lateral Transfer Devices Market Demand is expected to witness high growth. The rising geriatric population susceptible to reduced mobility worldwide is driving the need for assistive devices that enable safer transfer of patients. The global patient lateral transfer devices market is estimated to be valued at US$ 350.91 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030.
North America currently dominates the market owing to factors such as growing healthcare investments and availability of advanced healthcare infrastructure and resources. Asia Pacific is anticipated to grow at the fastest pace during the forecast period supported by expanding medical tourism industry and increasing healthcare expenditures in emerging economies such as China and India.
Key players operating in the patient lateral transfer devices market are Stryker Corporation, Getinge AB, EZ Way, Inc., HoverTech International, Airpal, Inc., Air-Matt, Inc., Hill-Rom Holdings, Inc., Sizewise, and Patient Positioning Systems LLC. Stryker dominates the market with its broad product portfolio for safe patient handling, transfer, and mobility. other players focus on new product launches and geographic expansion to strengthen their positions.
Get More Insights on this Topic- https://www.feedsfloor.com/pharmaceuticals/patient-lateral-transfer-devices-market-estimated-witness-high-growth-owing
