Patient Lift Pendent Market

Patient Lift Pendant Market Size (2024 to 2029)

The global patient lift pendant market is estimated to be worth USD 30.77 million in 2024 and USD 43.76 million by 2029, growing at a CAGR of 7.3% from 2024 to 2029.

MARKET DRIVERS

The growing number of product launches by the key market participants drives the growth of the patient lift pendant market.

Technological advancements and innovations have been frequently incorporated in the development of advanced patient lift pendent products and are being launched in the market for use. To manufacture patient lift pendants with greater features, better design, improved safety systems and more user-friendly controls, the key market participants have been engaging in R&D activities. This could attract medical facilities offering to modernize their facilities and provide superior patient care.

The increasing prevalence of spinal cord injuries contributes to the growth of the patient lift pendant market. Globally 40-80 cases per million population suffer from spinal cord injuries. The need for patient lift pendants is increasing with the increasing frequency of spinal cord injuries owing to occurrences such as accidents, falls, sports injuries, and diseases. Patients must be transferred between beds, chairs, wheelchairs and other surfaces using patient lift devices because these injuries frequently leave patients with restricted movement or paralysis. Patient lift pendants offer a safe and respectable approach to moving patients without endangering them more or making them uncomfortable.

Rising inorganic growth strategies by prominent key players fuel the growth rate of the patient lift pendant market. The top competitors in the market are concentrating on inorganic techniques like buying a sizable share in another firm to acquire it shortly. For instance, the ownership share in the mobility solutions company Atlas Lift Tech was purchased by Arjo, a multinational medical technology company, in July 2021. Factors such as the increasing number of initiatives and funding from the governments of several countries and the innovation in the patient lift pendent support the market growth.

MARKET RESTRAINTS

High costs associated with the patient lift pendent are one of the key factors hampering the global market growth.

Many organizations and healthcare facilities installed patient lift pendants which bear the high cost associated with training employees on the device use; owing to the budget constraint, many end users are reluctant to purchase advanced patient lift pendants. The lack of skilled professionals to operate patient lift pendant and product recalls further hinders the global market growth. Patient lift pendants need to be used and maintained properly by qualified people. A lack of skilled personnel at healthcare facilities can result in operational problems, efficiency problems, and even safety risks during patient transfers. Patient lift pendants may be the subject of product recalls due to design problems, manufacturing issues, or security issues. Recalls harm producers' reputations while also undermining healthcare facilities' trust in the products. Because of growing worries regarding the quality and safety of patient lift pendants, some people may be reluctant to invest, hence this factor limits the growth of the market.

Impact of COVID-19 on the patient lift pendant market

The patient lift pendant market was significantly impacted by the global COVID-19 pandemic crisis. The COVID-19 pandemic led to an increase in the number of patients requiring medical care and this has contributed to the increased demand for patient lift pendants. With the growing awareness of infection control and to minimize the spread of the virus, patient lift pendants needed to be thoroughly sanitized between uses and resulting in an increase in the demand for equipment with easy-to-clean surfaces. The long-term care facilities often use the patient lift pendant to assist with the daily patient movement, particularly affected by the COVID-19 pandemic. The high risk of infection could have led to a rising focus on patient safety and equipment needs, propelling the demand for such equipment for the movement of patients from one place to another.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Patient Lift Pendant Market Analysis By Type

Based on type, the ceiling lift segment is anticipated to hold the leading share of the market during the forecast period. Patient transfers using ceiling lifts are intended to be quick and easy. They move smoothly without requiring manual pushing or pulling along a permanent track system that is fastened to the ceiling. Ceiling lifts are a desirable choice, particularly when moving patients with restricted mobility, due to their simplicity of use and little physical demand on carers.

The lifting accessories segment is predicted to account for a considerable share of the global market during the forecast period. Patient rehabilitation, customization, patient comfort, carer well-being, infection control, and facility efficiency majorly promote the growth of the lifting accessories segment in the global market. These add-ons increase the adaptability and variety of patient lift systems and give medical facilities the equipment they need to ensure secure and effective patient transfers.

Global Patient Lift Pendant Market Analysis By End-User

Based on end-users, the hospital segment led the market in 2022 and is projected to continue to dominate the market during the forecast period. In hospitals, patient comfort and safety come first. Patient lift pendants are essential for assuring secure and comfortable patient transfers, reducing the possibility of slips, trips, and other accidents as well as discomfort when moving. Daily, a significant amount of patient transfers take place at hospitals. Patient lift pendants ease the physical burden on medical personnel, lowering the possibility of worker injuries and preserving the same high standard of service. Hence this segment fuels the market growth during the projected period.

The elderly care facility segment is anticipated to occupy a substantial share of the global market during the forecast period. Due to factors such as the aging population, mobility issues, the need to prevent falls, carer well-being, and the emphasis on delivering high-quality and respectful care for elderly people, the elderly care facility segment dominates the patient lift pendant market. As the demand for specialized geriatric care rises, patient lift pendant demand is anticipated to keep increasing in these facilities.

REGIONAL ANALYSIS

North America dominated the market in 2022 and the domination of the North American region in the global market is likely to continue throughout the forecast period owing to the high number of overweight and increasing obesity in adults. In 2021, 28.8% of Canadians aged 18 and older (approximately 9.3 million) reported height and weight that qualified them as obese. According to a report released by Statistics Canada in June 2022, overweight was categorized as 9.6 million adults (36.7%). As a result, 63.1% of the population was at risk for health problems related to being overweight in 2022. Males (66.4%) had a higher percentage of adults who were overweight or obese than females (59.7%). The rising prevalence of such a condition requires the patient to lift the pendent, hence this factor majorly propels the market growth in this region.

The European region is expected to show lucrative growth in the global market during the forecast period. The growing aging population, the presence of strict safety laws, rising emphasis on patient-centered care, consistent improvements in the healthcare infrastructure, carer well-being, technological advancements and the emphasis on home healthcare majorly propel the growth of the European patient lift pendant market.

APAC region is expected to grow at a promising CAGR in the worldwide market during the forecast period. The population of many APAC countries is aging rapidly. Patient lift pendants are in high demand in healthcare facilities due to the growing population of elderly people who need care. Healthcare facilities are looking for solutions like patient lift pendants to provide safe and comfortable patient transfers as awareness of patient safety and quality of care increases in the APAC region. The growing awareness and aging population promote the growth of the APAC patient lift pendant market.

Latin America is predicted to register a healthy CAGR in the global market during the forecast period. The rapidly growing aging population, increasing improvements in the healthcare infrastructure across Latin America, increased patient safety awareness, a growing number of initiatives from the governments of Latin America, and rising healthcare costs drive the patient lift pendant market in Latin America.

The Middle East and Africa region is also expected to dominate the market at a significant CAGR during the projected period.

KEY PLAYERS IN THE GLOBAL PATIENT LIFT PENDANT MARKET

Arjo, DJO Global, Drive DeVilbiss Healthcare, ETAC, GF Health Products, Guldmann, Handicare, Hill-Rom Holdings, Inc., Invacare, Joerns Healthcare, Medline Industries, and Prism Medical UK are some of the notable companies in the global patient lift pendant market.

RECENT HAPPENINGS IN THE MARKET

In January 2021, Handicare, a global leader in mobility and accessibility solutions, announces the launch of the AP-Series Portable Ceiling Lifts in North America. The AP-Series, also known as the next generation of portable ceiling lift technology, has first-of-their-kind features that make it easier for people with disabilities and those who provide care for them to live in their homes and create a safer environment.

DETAILED SEGMENTATION OF THE GLOBAL PATIENT LIFT PENDANT MARKET INCLUDED IN THIS REPORT

The research report on the patient lift pendant market has been segmented and sub-segmented into market by type, end-user, and region.

By Type

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

By End-User

• Hospitals
• Home Care
• Elderly Care Facility

By Region

• North America

• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa