Global Patient Lift Pendant Market – Industry Trends and Forecast to 2029

Patient Lift Pendant Market Analysis and Size

The market for patient lift pendant is expected to grow during the forecast period. The growing prevalence of disabilities is notably driving the patient lift pendant market growth. The prevalence of diseases and conditions such as osteoarthritis, osteoporosis, fractures, chronic wounds, stroke, paralysis, diabetes, and obesity is growing.

Data Bridge Market Research analyses that the patient lift pendant market which was USD 1,420.1 million in 2021, would rocket up to USD 2297.82 million by 2029, and is expected to undergo a CAGR of 6.20% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation      

Market Definition

Patients are transferred from one location to another using the patient lift pendant. Patients who have spinal cord injuries or paralysis are unable to move on their own. Such patients are moved with the aid of lift pendants. In the past, moving patients was quite dangerous because their weight might hurt both the patients and the people carrying them.

Patient Lift Pendant Market Dynamics

Drivers

• Rising incidence and prevalence of spinal cord injury

The expansion of the global market for patient lift pendant is anticipated to be driven by the rising incidence and prevalence of spinal cord injury. For instance, the projected starting incidence of traumatic spinal cord injury (TSCI) in 2010 was 1,785 cases per year, and the discharge incidence was 1,389, according to a report published in Karger in 2012. (41 per million). 2,286 instances of non-traumatic spinal cord injury (NTSCI) are projected to be discharged (68 per million). 85,556 people are projected to have SCI in Canada (51% have TSCI and 49% have NTSCI).

• Increase in the number of spinal cord injury patients

The increase in the number of spinal cord injury patients is anticipated to fuel growth. For instance, the Japan Trauma Data Bank (JTDB) from 2004 to 2013 recorded 25,792 spinal injury patients (M, 70.1%, F, 29.9%, mean age: 53.4 years), according to the National Center for Biotechnology Information (NCBI) in August 2018. When multiple injuries were included, the number of cases increased to 33,892 (M, 70.4%, F, 29.6%). From 2004 (15.4%) to 2013, there was an increase in the proportion of patients with spinal injuries among all trauma patients in the JTDB (17.6%). Most of the injuries were caused by person falls (52.4%) and car accidents (39.8%), respectively.

Opportunities

The growing demand for patient lift pendant worldwide is anticipated to aided by the high number of spinal cord injury patients. For instance, the National Spinal Cord Injury Statistical Center reports that there are roughly 291,000 spinal cord injuries in the United States, of which 39.5% are paraplegic and 59.9% are quadriplegic, and that 17,730 new injuries occur each year. The average age of a spinal cord injury victim is 43.

Restraints/Challenges

• High cost

On the other hand, the high cost associated with drug development and distribution will obstruct the market's growth rate. The Food and Drug Administration's product recalls are predicted to impede the growth of the patient lift pendant market globally throughout the forecast period. For instance, the US Food and Drug Administration declared a Class I recall of Hillrom's overhead patient lift in February 2021, citing the risk of serious harm and the fact that it was connected to two fatalities.

This patient lift pendant market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the patient lift pendant market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In September 2011, Hill-Rom Holdings, Inc., announced the acquisition of Liko France, a producer of portable and stationary patient lifts, SAS, Item SA, and Liko Care AG, distribution firms for Hill-Liko Rom's patient mobility products in France and Switzerland. The acquisition cost about $20 million.
• In January 2021, The introduction of the AP-Series Portable Ceiling Lifts in North America was announced by Handicare, a world authority in mobility and accessibility solutions. The AP-Series, which stands for the next iteration of portable ceiling lift technology, includes first-in-the-industry features that help individuals with disabilities and those who care for them by making their homes more accessible and fostering a safer atmosphere for care.

Global Patient Lift Pendant Market Scope

The patient lift pendant market is segmented on the basis of type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Ceiling/ Overhead Lift
• Stair Lift
• Mobile/ Floor Lift
• Sit to Stand Lift
• Bath and Pool Lift
• Lifting Slings
• Lifting Accessories

Application

• Intensive Care Unit
• Operating rooms

End User

• Hospitals
• Home Care
• Elderly Care Facility

Patient Lift Pendant Market Regional Analysis/Insights

The patient lift pendant market is analysed and market size insights and trends are provided by country, type, application and end user as referenced above.

The countries covered in the patient lift pendant market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the patient lift pendant market owing to high number of overweight and obese adults.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising health awareness among the people and growing demand of advanced medical technology.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure growth Installed base and New Technology Penetration

The patient lift pendant market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for patient lift pendant market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the patient lift pendant market. The data is available for historic period 2010-2020.

Competitive Landscape and Patient Lift Pendant Market Share Analysis

The patient lift pendant market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to patient lift pendant market.

Some of the major players operating in the patient lift pendant market are:

Arjo (Sweden), DJO LLC (U.S.), Drive DeVilbiss healthcare (U.K.), Etac AB (Sweden), GF Health Products Inc. (U.S.), V. Guldmann A/S (Denmark), Handicare Group (Sweden), Hill-Rom Services Inc. (U.S.), Invacare Corporation (U.S.), Joerns Healthcare LLC (U.S.), Medline Industries Inc. (U.S.)

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