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Patient Lift Pendant (PLP) market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, China - Size and Forecast 2024-2028

Patient Lift Pendant (PLP) market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, China - Size and Forecast 2024-2028

Published: Dec 2023 165 Pages SKU: IRTNTR70418

Market Overview at a Glance

$598.54 Mn
Market Opportunity
6.88%
CAGR
6.21
YoY growth 2023-2024(%)

Patient Lift Pendant (PLP) Market 2024-2028

The Patient Lift Pendant (PLP) Market size is estimated to grow at a CAGR of 6.88% between 2023 and 2028. The market size is forecast to increase by USD 598.54 million. The growth of the market depends on several factors, such as the growing prevalence of disabilities, the increasing number of healthcare establishments, and the increasing regulations to minimize manual patient handling. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.

The report offers extensive research analysis on the Patient Lift Pendant (PLP) Market, with a categorization based on Application, including intensive care unit and operating rooms. It further segments the market by Type, encompassing single-mast and twin-mast. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.

What will be the Size of the Patient Lift Pendant Market During the Forecast Period?

Patient Lift Pendant Market Size

Patient Lift Pendant Market Forecast 2024-2028

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Patient Lift Pendant Market Dynamics

Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.    

 Driver - Growing prevalence of disabilities

The prevalence of diseases and conditions including osteoarthritis, osteoporosis, fractures, chronic wounds, stroke, paralysis, diabetes, and obesity is rising. In addition, these conditions often lead to disabilities, such as mobility impairments. Furthermore, the prevalence of mobility disability is increasing globally.

For example, in 2019, more than two billion people, or more than 37.5% of the world's population, were disabled. Out of which, 13.7% of people with a disability had mobility impairments, with serious difficulty walking or climbing stairs. Therefore, the high prevalence of mobility disability will positively impact the market. Therefore, it is expected to drive the market growth during the forecast period.

Trends - Growing business strategies

Several companies are adopting various business strategies, including mergers and acquisitions, distribution partnerships, and enhanced customer care, to increase their sales, expand their business, and strengthen their market position. In addition, the increasing demand for safe patient lifting and handling is encouraging leading vendors to expand their geographic reach, which, in turn, will boost market growth.

For example, in December 2020, Arjo AB announced the acquisition of AirPal, which is a privately owned, US-based company specializing in air-assisted lateral patient transfer solutions. In addition, this acquisition will strengthen Arjo ABs patient-handling portfolio and is expected to have a positive impact on the earnings per share from 2022 onward. Hence, such factors are positively impacting the market.  Therefore, it is expected to be a major trend that shapes the market growth during the forecast period.

Challenge - Lack of trained professionals

Several end-users are reluctant to adopt safe patient lift pendants in their healthcare facilities.  In addition, one of the primary reasons is the lack of training and awareness among healthcare professionals. Furthermore, training is essential for the safe operation of any patient lift pendant, especially in terms of proper use of devices, and to create awareness about the clinical benefits of safe patient lifting and transfer.

Moreover, both developed and emerging economies are experiencing a severe shortage of skilled healthcare professionals. This is mainly fuelled by an increase in the number of experienced healthcare professionals who are nearing retirement. Furthermore, the increasing international migration of health workers may exacerbate the shortage of healthcare workforce, particularly in low- and lower-middle-income countries. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.

Patient Lift Pendant Market Segmentation by Application, Type and Geography

Application Segment Analysis

The intensive care unit segment is estimated to witness significant growth during the forecast period. Intensive care units (ICUs) are a crucial part of the healthcare system. Even though most ICUs are found in high-income countries, they are increasingly becoming a part of the healthcare systems in low- and middle-income countries. Furthermore, intensive care units are home to some of the weakest and most vulnerable patients in a hospital.

Patient Lift Pendant Market Size

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The intensive care unit segment was the largest segment and was valued at USD 662.16 million in 2018. Thus, these units have patient lifting systems specified with a ceiling-mounted pendant. Moreover, critical care units (CCUs) often have pendants fitted at the head of the patient's bed, providing easy-to-access control for staff.  This way patient lift pendant is used in various intensive care units. Furthermore, the patient lift pendant provides different manual handling options for patients and improves patient safety and staff manual handling techniques and safety. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.

Type Segment Analysis

Based on the type, the segment is classified into single-mast and twin-mast. The single-mast segment will account for the largest share of this segment There is a significant increase in the global patient lift pendant market in the healthcare industry, with significant advancements and innovations taking place in recent years. A single mast patient lift pendant comprises a vertical column with a boom arm that can be positioned and adjusted to lift patients. In addition, this type of lift pendant is designed to provide optimal support and safety during patient transfers, while also ensuring ease of use for healthcare professionals. Furthermore, one key factor driving the demand for single-mast patient lift pendants is their compact and streamlined design. In addition, they occupy minimal space, making them suitable for healthcare facilities with limited room or tight spaces. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.

Regional Analysis

Patient Lift Pendant Market Share by Geography

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North America is estimated to contribute 41% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The patient lift pendant market in North America is fuelled by factors such as the rising prevalence of chronic diseases, the strong presence of key players, the growing number of awareness programs regarding safe patient handling, and the high healthcare expenditure. In addition, the increasing prevalence of obesity and the growing adoption of patient lift pendants in healthcare facilities are influencing vendors to employ various market strategies, such as mergers and acquisitions and partnerships with distributors, to strengthen their market presence. Furthermore, the strong implementation of laws and regulations for safe patient handling in North America is another major factor driving the growth of the regional patient lift pendant market. Hence, such factors drive the market growth in North America during the forecast period.

Who are the Major Patient Lift Pendant Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Arjo AB: The company offers patient lift pendants, and products such as GoLift ceiling lift system.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

Atlas Copco AB, Baxter International Inc., DeVilbiss Healthcare GmbH, Dragerwerk AG and Co. KGaA, Enovis Corp., Etac AB, GF Health Products Inc., Group TRATO TLV, Handicare, Heal Force Biomeditech Holdings Ltd., INMED SA, modul technik GmbH, NOVAIR MEDICAL, Savaria Corp., SKYTRON LLC, Starkstorm Ltd., V. Guldmann AS, Wilhelm, and Amico Group of Co.

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The patient lift pendant market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  •  Application Outlook
    • Intensive care unit
    • Operating rooms
  • Type Outlook 
    • Single-mast
    • Twin-mast
  • Geography Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Patient Lift Pendant Market Scope

Report Coverage

Details

Page number

165

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.88%

Market Growth 2024-2028

USD 598.54 million

Market structure

Fragmented

YoY growth 2023-2024(%)

6.21

Regional analysis

North America, Europe, Asia, and the Rest of the World (ROW)

Performing market contribution

North America at 41%

Key countries

US, Canada, Germany, UK, and China

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Arjo AB, Atlas Copco AB, Baxter International Inc., DeVilbiss Healthcare GmbH, Dragerwerk AG and Co. KGaA, Enovis Corp., Etac AB, GF Health Products Inc., Group TRATO TLV, Handicare, Heal Force Biomeditech Holdings Ltd., INMED SA, modul technik GmbH, NOVAIR MEDICAL, Savaria Corp., SKYTRON LLC, Starkstorm Ltd., V. Guldmann AS, Wilhelm, and Amico Group of Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Patient Lift Pendant Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the patient lift pendant market between 2024 and 2028
  • Precise estimation of the patient lift pendant market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across North America, Europe, Asia, and the Rest of the World (ROW)
  • A thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of patient lift pendant market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch

Table of Contents not available.

Research Methodology

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Frequently Asked Questions

Patient Lift Pendant market growth will increase by $ 598.54 mn during 2024-2028.

The Patient Lift Pendant market is expected to grow at a CAGR of 6.88% during 2024-2028.

Patient Lift Pendant market is segmented by Application( Intensive care unit, Operating rooms) Type( Single-mast, Twin-mast, Asia, ROW)

Arjo AB, Atlas Copco AB, Baxter International Inc., DeVilbiss Healthcare GmbH, Dragerwerk AG and Co. KGaA, Enovis Corp., Etac AB, GF Health Products Inc., Group TRATO TLV, Handicare, Heal Force Biomeditech Holdings Ltd., INMED SA, modul technik GmbH, NOVAIR MEDICAL, Savaria Corp., SKYTRON LLC, Starkstorm Ltd., V. Guldmann AS, Wilhelm, Amico Group of Co. are a few of the key vendors in the Patient Lift Pendant market.

North America will register the highest growth rate of 41% among the other regions. Therefore, the Patient Lift Pendant market in North America is expected to garner significant business opportunities for the vendors during the forecast period.

US, Canada, Germany, UK, China

  • Growing prevalence of disabilitiesThe prevalence of diseases and conditions such as osteoarthritis is the driving factor this market.
  • osteoporosis is the driving factor this market.
  • fractures is the driving factor this market.
  • chronic wounds is the driving factor this market.
  • stroke is the driving factor this market.
  • paralysis is the driving factor this market.
  • diabetes is the driving factor this market.
  • and obesity is increasing. These conditions often lead to disabilities is the driving factor this market.
  • such as mobility impairments. The prevalence of mobility disability is increasing globally. For instance is the driving factor this market.
  • in 2019 is the driving factor this market.
  • more than two billion people is the driving factor this market.
  • or more than 37.5% of the worlds population is the driving factor this market.
  • were disabled. Out of which is the driving factor this market.
  • 13.7% of people with a disability had mobility impairments is the driving factor this market.
  • with serious difficulty walking or climbing stairs. Thus is the driving factor this market.
  • the high prevalence of mobility disability will increase the demand for patient lift pendants.  Advances in healthcare technologies and the availability of effective treatment options have resulted in increased life expectancy is the driving factor this market.
  • which is resulting in an increase in the older population across the world. The geriatric population is more prone to having disabilities. The geriatric population is more susceptible to diseases and conditions such as strokes is the driving factor this market.
  • osteoporosis is the driving factor this market.
  • diabetes is the driving factor this market.
  • and osteoarthritis. For instance is the driving factor this market.
  • more than 200 million people had osteoporosis in 2021 globally. The increasing number of elderly patients with osteoporosis will boost the market growth. Older people are more likely to experience a fall that may lead to spinal cord injuries. The most prevalent disability among the aged is mobility disability is the driving factor this market.
  • and most patients with this disability find difficulty in walking and climbing stairs. This has led to increased demand for wheelchairs is the driving factor this market.
  • lifting devices is the driving factor this market.
  • and other technologies from the geriatric population is the driving factor this market.
  • as moving elderly people without patient lifting devices can be inconvenient for caregivers and may cause workplace-related injuries.  The growing prevalence of diabetes and diabetic ulcers has led to an increasing need for limb amputations. The prevalence of diabetes is found to be higher in urban areas than in rural areas and high-income countries than in low-income countries. As patients that undergo amputation require patient lift pendants is the driving factor this market.
  • a rise in the number of people with disabilities and mobility issues is the driving factor this market.
  • owing to diabetes or other factors is the driving factor this market.
  • is expected to drive the demand for patient lift pendants during the forecast period. is the driving factor this market.

The Patient Lift Pendant market vendors should focus on grabbing business opportunities from the Intensive care unit segment as it accounted for the largest market share in the base year.