Patient lateral transfer devices are medical equipment used for safely transferring immobile patients from one surface such as a stretcher, bed or wheelchair to another without hurting patients. These devices reduce the risk of injury to caregivers as well. The growing prevalence of lifestyle diseases such as obesity and cardiovascular disorders which require long term medical aid is driving the demand for these devices. 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 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key driving factor for Global Patient Lateral Transfer Devices Market Size is the increasing prevalence of lifestyle diseases. According to World Health Organization (WHO), cardiovascular diseases (CVDs) are the number one cause of death globally. Sedentary lifestyle, obesity and unhealthy diet are some of the major risk factors for CVDs. Similarly, the prevalence of obesity is increasing rapidly which in turn is increasing the risk of other diseases like diabetes. Obese and morbidly obese patients require long term medical care which necessitates safe patient transfer using lateral transfer devices. Thus, growing incidence of obesity and lifestyle related diseases is expected to drive the demand for patient lateral transfer devices over the forecast period.
SWOT Analysis
Strength: Patient lateral transfer devices provide safe transfer of patients from one surface to another and help reduce risks of injury to caregivers. They are designed to securely hold patients during transfer.
Weakness: Higher costs associated with patient lateral transfer devices compared to manual transferring. Lack of trained professionals to efficiently operate such devices.
Opportunity: Growing geriatric population worldwide increasing need for assisted patient handling equipment. Rise in number of patients undergoing bariatric surgeries also driving demand.
Threats: Availability of cheaper substitutes like lifting sheets, slides and inclined planes for lateral transfers. Reimbursement cuts affecting investments of healthcare providers in such specialized equipment.
Key Takeaways
The global patient lateral transfer devices market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America currently dominates the market owing to rapidly growing geriatric population and higher healthcare spending. Europe and Asia Pacific are expected to be the fastest growing regions supported by improving access to healthcare facilities and increasing awareness about assisted patient handling equipment.
Key players operating in the patient lateral transfer devices market are Cynosure, Lumenis, Syneron Medical, Lynton Lasers, EL.En. S.p.A., Fotona, Cutera, Strata Skin Sciences, Lutronic Corporation, Sciton, Alma Lasers, Venus Concepts, Asclepion Laser Technologies, Laseroptek, Quanta System, SharpLight Technologies, Aerolase, HONKON, LISA Laser Products, MeDioStar. These players are focusing on new product launches and strategic collaborations to strengthen their market position. For instance, in 2022 Venus Concept launched Venus Viva, an innovative system for non-invasive aesthetic treatments.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice’s dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn