LONDON--(BUSINESS WIRE)--The patient lifting devices market is expected to post a CAGR close to 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report.
The prevalence of diseases and conditions such as osteoporosis, chronic wounds, fractures, diabetes, paralysis, strokes, obesity, and osteoarthrosis is leading to mobility disability among people across the world. The rise in the number of people with disabilities and mobility issues is expected to drive the demand for patient lifting devices for appropriate care of patients and overcome mobility issues.
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As per Technavio, the business strategies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Patient Lifting Devices Market: Business Strategies
The market is witnessing the adoption of innovative business strategies by vendors, which include mergers and acquisitions, distribution partnerships, and enhanced customer care. These strategies are aimed at increasing sales, which can help them expand and strengthen their market position. Companies are also focusing on expanding their geographic reach by improving their sales channels. Such business strategies are likely to boost the market growth.
“Apart from the adoption of innovative business strategies, other factors such as the growing demand for home care settings, and the implementation of laws and regulations for safe patient lifting and handling will have a significant impact on the growth of the patient lifting devices market during the forecast period,” says a senior analyst at Technavio.
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Patient Lifting Devices Market: Segmentation Analysis
This market research report segments the global patient lifting devices market by product (lifting systems, lifting slings and accessories) and by region (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market, driven by factors such as the rising prevalence of chronic diseases, the strong presence of key players, growing number of awareness programs regarding safe patient handling, and the high healthcare expenditure.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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