The outbreak of corona virus globally, there is a sudden rise in the demand for patient lateral transfer services. The Growth in this 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 to the new market research 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” published by MarketsandMarkets™, is expected 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 of 2020 to 2025.
Growth 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 lateral transfer market
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Geographically; the patient lateral transfer market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latina America, and the Middle East and Africa. In 2019, North America accounted for the largest share. The large share of North America can primarily be attributed to the growing number of COVID-19 cases, rising prevalence of musculoskeletal disorders among caregivers, growing geriatric population, and the increasing incidence of chronic and lifestyle diseases. Due to its growing geriatric population segment and environmental conditions have favored the spread of COVID-19 which has severely affected the region and ensured enormous growth in the demand for patient lateral transfer devices. Players in this and adjacent, or even non-related, markets have focused on or collaborated for expanding the products of patient lateral transfer.
Some of the prominent players in patient lateral transfer market are Stryker Corporation (US), Hill-Rom Holdings, Inc. (US), Sizewise (US), Arjo (Sweden), Haines Medical Australia (Australia), Handicare (Sweden), Medline Industries, Inc. (US), AliMed (US), and Airpal Inc. (US).
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Market Segmentation in Detailed:
Rise in the musculoskeletal injuries to caregivers while man handling patients to drive the demand for patient lateral transfer.
Based on product, the patient lateral transfer market is segmented into air-assisted lateral transfer mattresses, sliding sheets, and accessories. The air-assisted lateral transfer mattresses segment accounted for the largest market share in 2019. The large share of this segment can be attributed to the advantages of these mattresses in overcoming persistent difficulties while handling patients with special conditions.
The hospitals segment accounted for the largest market share in 2019
Based on end users, the patient lateral transfer market is segmented into hospitals, ambulatory surgery centers, and other end users. Hospitals accounted for the largest share of the lateral transfer market in 2019. This can be attributed to many patient admissions in hospitals, rising prevalence of various chronic conditions, and growing regulatory norms to use safe patient transfer equipment. Ambulatory surgery centres are expected to witness the highest growth during the forecast period, mainly due factors such as the growing number of digitalization in healthcare field such as mhealth and teleradiology.
According to the new market research 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″, published by MarketsandMarkets™, 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.Download PDF Brochure: |https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93948116Due to the outbreak of corona virus globally, there is a sudden rise in the demand for patient lateral transfer devices.
The growth in this market is majorly driven by the high risk of injuries to caregivers during the manual handling of patients, implementation of regulations to minimize manual patient lifting, and the advantages of lateral transfer devices in overcoming persistent difficulties in handling patients with special conditions.
However, the lack of training to caregivers for the efficient operation of patient handling equipment is expected to restrain the growth of this market.Browse in-depth TOC on “Patient Lateral Transfer Market“95 – Tables36 – Figures 148 – PagesRise in the musculoskeletal injuries to caregivers while man handling patients to drive the demand for patient lateral transfer.Based on product, the Patient Lateral Transfer Market is segmented into air-assisted lateral transfer mattresses, sliding sheets, and accessories.
The air-assisted lateral transfer mattresses segment accounted for the largest market share in 2019.
The large share of this segment can be attributed to the advantages of these mattresses in overcoming persistent difficulties while handling patients with special conditions.The hospitals segment accounted for the largest market share in 2019Based on end users, the Patient Lateral Transfer Market is segmented into hospitals, ambulatory surgery centers, and other end users.
This can be attributed to many patient admissions in hospitals, rising prevalence of various chronic conditions, and growing regulatory norms to use safe patient transfer equipment.
The Global PVC Window Profile Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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According to a research report "Cognitive Assessment and Training Market by Assessment Type (Pen- and Paper-Based, Hosted, Biometrics), Component, Application (Clinical Trial, Screening & Diagnostics, Brain Training, Academic Research), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the cognitive assessment and training market size is expected to grow from USD 1.98 Billion in 2016 to USD 8.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.3%.Browse 63 market data tables and 47 figures spread through 150 pages and in-depth TOC on "Cognitive Assessment and Training Market - Global Forecast to 2021"The major forces driving this market are aging global population, increasing awareness about brain fitness, and advancements in technology.
The growing market for cognitive solutions and increasing demand for brain training by next-generation tech-savvy population are contributing to the growth of the cognitive assessment and training market.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1039Clinical trials in terms of application is expected to hold the largest market share in the cognitive assessment and training market during the forecast periodClinical trials are mainly used to identify, measure, or monitor cognitive impairments and cognitive changes.
The assessment of cognitive functions is an integral part of decision-making during clinical drug development, as certain drugs can have an impact on the cognitive capabilities of the brain.
The market is expected to contribute the highest revenue for vendors offering clinical trials.Education vertical is expected to grow at the highest CAGR in the marketCognitive assessment solutions and services are used in the education vertical for screening prospective candidates for schools or colleges.
The leading cognitive assessment and training vendors for this vertical are Pearson Assessment and CogniFit.North America is expected to contribute to the largest market share and Asia-Pacific to grow at the highest CAGRNorth America is expected to hold the largest market share and to dominate the cognitive assessment and training market from 2016 to 2021, due to the increasing awareness among population about adopting medication for cognitive diseases.
The new generation in this region is more concerned toward the benefits of cognitive training, which is not just limited to patients with cognitive dysfunctions.
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