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The increased investments in the healthcare sector are expected to drive the global patient lifting equipment industry. This can be attributed to the rising incidences of chronic illnesses worldwide. Moreover, the growing geriatric population globally, which is more susceptible to severe ailments and injuries, is also expected to contribute to the increased demand for patient lifting equipment in the forecast period. Furthermore, the heightened demand for homecare facilities and solutions, especially among people with disabilities, is also leading to an increased demand for patient lifting equipment. This trend is further expected to be fuelled by the rising disposable incomes and improved living standards of consumers.
The rising demand for patient assistance to better support the patients with disabilities is driving the market players to develop improved lifting equipment that can offer proper rehabilitation and safety potential, among other benefits. For instance, in October 2020, Invacare Corporation (NYSE: IVC) announced the launch of their new Invacare Stand Assist (ISA) premier series stand and assist lifts that offer innovative features and improved functionality and security with a sleek and modern design. It is especially designed for bariatric patients and those requiring rehabilitation support. Such developments are expected to positively impact the patient lifting equipment industry growth in the forecast period.
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The major players in the global patient lifting equipment market are Stryker Corporation, Handicare Group AB, Arjo AB, Hill-Rom Services, Inc., Invacare Corporation, and Sunrise Medical Limited, 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.
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