Latest News - Patient Lateral Transfer Market: Air-assisted lateral transfer mattresses are expected to lead the Product segment during 2024-2028

The Patient Lateral Transfer Market is being driven by Advantages of lateral transfer devices

The Patient Lateral Transfer Market is expected to grow at a CAGR of 13.95% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 542.6 million. The global aging population is expanding at a faster rate than new births, leading to significant demographic shifts. With increasing life expectancy, there is a growing need for healthcare services among the elderly. This trend is set to impact healthcare spending patterns in both developed and developing nations. The demand for long-term care is expected to surge as the elderly population continues to grow. In 1950, only 8% of the global population was aged 60 and above. Today, this figure stands at approximately 13%, and it is projected to reach 22% by 2050 (NCBI). The healthcare sector must adapt to these demographic changes and address the unique challenges posed by the aging population. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Air-assisted lateral transfer mattresses
  • Sliding sheets
  • Accessories
• Usage
  • Reusable
  • Single patient use
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Advantages of lateral transfer devices
• Increasing prevalence of chronic diseases
• Increasing regulation to minimize manual patient handling

However, the market also witnesses some limitations, which are as follows:

• Lack of trained caretakers for patient handling
• Risks associated with log roll technique
• Government regulations for overall healthcare cost reduction

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Market Scope in Patient Lateral Transfer Market Research Report

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Research Analysis Overview

The Patient Lateral Transfer Market is witnessing significant growth due to the versatility and satisfaction it offers in handling patient transfers with minimal physical strain. This market is driven by the need for patient comfort during transfers, which reduces friction and ensures even weight distribution. The dominant market share is held by companies providing cost-effective solutions for both disposable and reusable equipment. Favorable reimbursement policies and healthcare provider education are also key factors contributing to the market's expansion. However, the adoption of patient lateral transfer systems faces challenges such as workflow adjustments, staff training, and a lack of awareness among healthcare providers. Traditional methods, including manual transfers, continue to be prevalent, especially in developing countries. The elderly population, with its high prevalence of chronic illnesses and need for home health care, is a significant market for patient lateral transfer systems. The global population's rapid aging and the increasing incidence of back injuries among healthcare workers further emphasize the importance of these systems. Evaluation and training programs are essential to ensure the effective implementation of patient lateral transfer systems, addressing the challenges and maximizing their benefits.

Market Research Overview

According to Technavio, the global patient lateral transfer market is a significant segment of the expansive global healthcare equipment market. This market encompasses companies and products dedicated to research and development (R&D) in the realm of capital equipment, instruments, implants, accessories, and consumables, all utilized for disease diagnosis, monitoring, and treatment. The size of the global healthcare equipment market is determined by the consolidated revenue generated by manufacturers of diagnostic equipment and devices, spanning various therapy areas. The healthcare equipment sector is segmented into Devices, which incorporates advanced, differentiated, and clinically validated data-driven devices. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/