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Global Patient Lateral Transfer Market to Grow at a CAGR of 9% During 2022-2027, Aided by the Thriving Healthcare Industry

According to a new report by EMR titled, ‘Global Patient Lateral Transfer Market Report and Forecast 2022-2027’, the market attained a value of about USD 409.36 million in 2021. The patient lateral transfer industry is further expected to grow at a CAGR of 9% between 2022 and 2027 to reach USD 686.53 million by 2027.

The increasing demand for patient lateral transfer products from healthcare institutions is driving the market growth. The market is supported by the increasing focus of health care providers towards improving patient care. Hospitalised geriatrics are susceptible to various kinds of infections and diseases owing to the prolonged exposure to contaminants and bacteria. In addition to this, manual handling of geriatrics can lead to severe musculoskeletal injures such as fracture, bruises, and skin tears. The patient lateral transfer products come with soft surface, which reduces the chances of injuries in case of transfer of patients from one place to another, making them feel comfortable. Moreover, the product is convenient and easy to transport, which is another key driving factor in the market growth.

In October 2020, Stryker Corporation (NYSE: SYK) announced the launch of Niagra Lateral Access System, expanding its lateral spinal portfolio. With this, the company will be able to deliver a comprehensive portfolio of minimally invasive lateral solutions.

In 2020, Arjo announced the acquisition of AirPal, a company based in North Wales (PA), USA. AirPal is known to be the inventor of Air Assisted Lateral Patient Transfer Devices and specialises in these devices, facilitating lateral movement of patients. This deal will augment the patient handling business of Arjo and is part of the group’s long-term strategic focus towards driving healthier outcomes for people facing mobility challenges and the risk of musculoskeletal injuries.

In terms of region, the Asia Pacific is likely to account for a significant share in the market, owing to the growing demand for the product from hospitals and ambulatory surgical centres. The market is anticipated to be bolstered by the rising healthcare expenditure especially in major economies of the region. The market will further be aided by the growing concerns regarding patient safety and the growing penetration of the medical technology companies in the region.

Market Breakup by Product Type, Usage, End User, and Region:

  • The market is segmented based on product type into air-assisted lateral transfer mattress, slide sheets, and lateral transfer accessories. The air-assisted lateral transfer mattress can further be divided based on type into regular mattress, split-leg mattress, and half mattress.
  • The market segmentation, on the basis of usage, include reusable and disposable.
  • By end user, the market can be divided into hospitals and ambulatory surgical centres, among others.
  • Region-wise, the global market for patient lateral transfer can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing demand for patient lateral transfer products with the growing healthcare sector is driving the market growth.
  • The growing safety concerns of geriatrics among health care providers is likely to be a major driving factor in the market.
  • The market is anticipated to be augmented by the expanding medical technology companies and the innovations by the manufacturers.
  • The market will further be aided by the increasing healthcare expenditure in the emerging economies, resulting in steady development of hospitals, clinics, and ambulatory surgical centres.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for patient lateral transfer for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the product types, usages, end users, and regions of patient lateral transfer.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global patient lateral transfer market are Stryker Corporation, Haines Medical Australia Pty Ltd, Arjo AB, Hill-Rom Services, Inc., McAuley Medical, Inc., and Patient Positioning Systems LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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