According to Fact MR’s recent market research, sales of Patient Lateral Transfer to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Patient Lateral Transfer market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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As per latest industry analysis published by Fact.MR, the global patient lateral transfer devices market was valued at around US$ 260 Mn in 2020. Patient lateral transfer devices accounted for close to 1% of the overall hospital devices market in 2020.
Sales of patient lateral transfer and repositioning devices are expected to accelerate at a CAGR of 7% to top a valuation US$ 500 Mn by 2031. Demand for air-assisted lateral transfer devices is high and is set to increase at a CAGR of 6% across the assessment period of 2021 to 2031.
|Patient Lateral Transfer Devices Market Size Value in 2020||US$ 260 Mn|
|Sales Forecast for Patient Lateral Transfer Devices by 2031||US$ 500 Mn|
|Global Market Growth Rate (2021 to 2031)||CAGR 7%|
|Share of Top 5 Patient Lateral Transfer Device Manufacturers||50%|
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Patient Lateral Transfer market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Patient Lateral Transfer
The report offers actionable and valuable market insights of Patient Lateral Transfer. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Patient Lateral Transfer Market across various industries and regions.
Key Segments Covered in Patient Lateral Transfer Devices Industry Research
- Air-Assisted Patient Lateral Transfer Devices
- Regular Air-assisted Patient Lateral Transfer Mattresses
- Split-leg Air-assisted Patient Lateral Transfer Mattresses
- Half Air-assisted Patient Lateral Transfer Mattresses
- Reusable Air-assisted Patient Lateral Transfer Mattresses
- Disposable Air-assisted Patient Lateral Transfer Mattresses
- Slide Sheets
- Transfer Accessories
- Air-Assisted Patient Lateral Transfer Devices
- Patient Lateral Transfer Products
- Single-use Patient Lateral Transfer Products
- End User
- Patient Lateral Transfer Devices for Hospitals
- Patient Lateral Transfer Devices for Ambulatory surgical Centers
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Many leading players in the patient lateral transfer market compete with both, global and established local businesses. Furthermore, to compete with existing items, top companies in the patient lateral transfer market are creating and introducing fresh products and technologies, while others are acquiring and partnering with other market-leading organizations.
The Centers for Medicare and Medicaid Services (CMS) have taken initiatives to reward healthcare providers that reduce hospitalization expenses. CMS is pushing healthcare facilities such as nursing homes and home healthcare as part of this program, since they can deliver high-quality care at lower prices (as compared to the cost of hospitalization).
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4 Forecast Highlights on Global Patient Lateral Transfer Market
- North America is expected to dominate the global patient lateral transfer market. By the end of 2022, North America is projected to exceed US$ 100 million revenue. Increase in chronic and lifestyle diseases, the rise in Musculoskeletal Disorders (MSDs) among healthcare workers are some of the factors driving the market for patient lateral transfer in North America.
- Asia Pacific Excluding Japan (APEJ) is also expected to witness strong growth during the forecast period. Owing to the significant investment by the government and major market players in healthcare, and research and development infrastructure are some of the factors fueling market growth in APEJ.
- Air assisted transfer device is expected to be one of the most preferred product for patient lateral transfer. Accounting for more than half of the revenue share by the end of 2017, Air assisted transfer device is projected to surpass US$ 150 million revenue by the end of 2022. Meanwhile, slide sheets are also expected to witness healthy growth during the forecast period.
- Compared to the single patient use products, reusable devices or products for patient lateral transfer will gain maximum traction in the global patient lateral transfer market. Patient Lateral Transfer products are expected to account for maximum revenue share by the end of 2017. Between 2017 and 2022, reusable products are projected to create an incremental opportunity of nearly US$ 100 million.
The report also offers a detailed profile of some of the leading players in the global market for patient lateral transfer, which will remain active through 2022. These include companies such as Getinge AB, Airpal, Inc., Stryker Corporation, Sizewise Rentals, LLC, Medline Industries, Inc., EZ Way, Inc., McAuley Medical, Inc., Blue Chip Medical Products, Inc., Hill-Rom Holdings, Inc., and Alimed Inc.
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