Expanding Opportunities in the Patient Lateral Transfer Market

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The patient lateral transfer market is expected to reach USD 446.2 million by 2025 from USD 288.7 million in 2020, at a CAGR of 9.1% during the forecast period of 2020 to 2025. Due to the outbreak of corona virus globally, there is a sudden rise in the demand for lateral transfer devices. The Growth in this market will majorly be driven by the high risk of musculoskeletal injuries to caregivers during manual handling of patients and the implementation of regulations to minimize manual patient handling. However, the lack of training to caregivers for the efficient operation of patient handling equipment is a key challenge in this market.

The prominent players operating in this market include Stryker Corporation (US), Hill-Rom (US), Arjo (Sweden), Handicare (Sweden), Etac Group (Sweden), Sizewise (US), McAuley Medical, Inc. (US), Medline Industries Inc. (US), Samarit Medical AG (Switzerland), Blue Chip Medical,Inc. (US), Haines Medical Australia (Australia), Scan Medical Co Inc. (US), WY’ East Medical Company (US), GBUK Banana (US), and Alimed (US).These players adopted the strategies of partnerships, agreements, and acquisitions to expand their presence in the global patient lateral transfer market.

To know about the assumptions considered for the study download the pdf brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93948116

Stryker Corporation (US)

Stryker Corporation held 25%-27% share in the patient lateral transfer market. The company provides a suitable range of products in the air-assisted lateral transfer market such as the Sage Prevalon Air Transfer System (MATS). This system reduces the potential risks for back injury. Stryker Corporation has a substantial geographic presence and has rich experience in the global market, making the company one of the top players in the air assisted lateral transfer market. The company has maintained its position in the air-assisted lateral transfer market by focusing on inorganic growth strategy such as acquisitions. For instance, in 2019, Stryker Corporation (US.) acquired Wright Medical Group N.V. (US), a leading medical device company to advance innovation, improve outcomes and reach more patients.

Arjo (Sweden)

Arjo accounted for 9–11% of the patient lateral transfer market in 2019. The company provides highly diversified products for a lateral transfer device. The company’s broad geographic diversity has enabled it to deliver its lateral transfer devices to more than 100 countries across the globe. To maintain its position in the market, the company focuses on acquisitions and partnerships, building a strong geographical network, and enhancing its R&D for delivering measurable and beneficial results for patients and caregivers. In 2019, Arjo acquired substantial equity shares of Atlas Lift Tech (US), which offers patient handling solutions and real-time efficiency analytics to create a strong platform for Arjo to offer a unique end-to-end solution in patient transfer, with the mutual goal of reducing caregiver injuries and improving patient care.

Hill-Rom, Holdings, Inc. (US)

Hill-Rom accounted for 15–18% of the patient lateral transfer market in 2019. The company’s strong focus on R&D and investments in product developments have ensured its position in the market. It focuses on collaborations, agreements, and acquisitions to strengthen its geographic footprint, presence, and growth. For instance, in 2019, Hill-Rom collaborated with Microsoft (US) to bring advanced, actionable point-of-care data and solutions to caregivers and healthcare provider organizations.

Related Links

https://www.marketsandmarkets.com/Market-Reports/patient-lateral-transfer-market-93948116.html

https://www.marketsandmarkets.com/ResearchInsight/patient-lateral-transfer-market.asp

https://www.marketsandmarkets.com/PressReleases/patient-lateral-transfer.asp

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