The size of the Latin American patient handling devices market was valued at USD 771.77 Mn in 2022 and is predicted to be worth USD 1171.21 Million by 2027, growing at a CAGR of 8.7% from 2022 to 2027.
The growing aging population across Latin America is majorly driving the Latin American patient handling devices market. An estimated 8% of the population in Latin America is of 65 years or above 65 years of age. With increasing age, a large number of older populations suffer from chronic diseases such as diabetes, heart diseases, and orthopedic diseases. These people undergo many clinical examinations and treatments for the treatment of the diseases they are suffering from. During clinical examinations, older people face several issues in movements due to joint problems. To avoid these types of issues, hospitals, and diagnostic centers are using patient handling devices that help to lift the patient and move them to the required position. Due to using patient handling devices older population feel less stress in moving themselves for treatment purpose and feels comfortable.
The high risk of injuries to caregivers while handling patients manually and the increasing obese population in the Latin American region are fuelling the patient-handling devices market growth in Latin America. While giving support to the patient who needs to move from one place to another during the process of treatment, many caregivers suffer from injuries, and carrying obese people is one such reason for the injuries. Caregivers need to put more effort and stress to handle the patient with care. As a result, to reduce this type of injury and joint fracture in caregivers, many hospitals are adopting the use of patient-handling devices.
The growing adoption of technological advancements in the manufacturing of advanced patient-handling devices is favoring the growth of the Latin American market growth. Manufacturing different technology-based devices such as sensors, battery-based devices, artificial intelligence, and electricity demand market growth during the forecast period. Due to the increasing demand for patient-handling devices, many key players and medical device companies are investing in the production of various types of patient-handling devices. Using RFID technology for patient-handling devices also helps the market growth due to its advantage in tracking device functionality.
Furthermore, the rising popularity of home-based patient-handling devices, increasing government support, increasing product approvals, and increasing reimbursement policies are contributing to the growth of the patient-handling devices market in Latin America.
On the other hand, the high cost of patient-handling devices is primarily hampering the growth of the Latin American patient-handling devices market. Lack of training provided to the caregivers about the use of patient handling devices restraining the market growth during the forecast period. Lack of awareness of home-held patient handling devices, low production of devices, and long-time approval for novel devices are the other factors that impede the market growth.
This research report on the Latin America Patient Handling Devices Market has been segmented and sub-segmented into the following categories
By Bathroom Safety:
By Type Care:
By End User:
Geographically, the Latin American market had a moderate share of the worldwide market in 2021. However, the Latin American market is predicted to witness a notable CAGR during the forecast period due to the increasing adoption of advanced devices in the healthcare sector The government has taken several measures in the approval of patient-handling devices to improve patient care in hospitals, clinics, and diagnostic centers.
During the forecast period, Brazil and Colombia hold a major share of the Latin American market owing to high awareness about the benefits of using patient-handling devices in hospitals. Increasing awareness programs and advertisements about the availability of various patient-handling devices also help in the development of the market. They also provide a basic advertisement to show how the patient-handling devices work.
The patient-handling devices market in Mexico is predicted to witness a healthy CAGR in the coming years owing to the growing number of manufacturers in Mexico. Due to the presence of a larger number of local key players, they are providing cost-effective devices which help the healthcare worker or the caretaker to safely treat their patients.
KEY MARKET PLAYERS
Companies playing a noteworthy role in the Latin America patient handling devices market profiled in the report are Benmor Medical, Inc. Etac Limited, Joerns Healthcare, Stryker Corporation, Handicare, Inc., Prism Medical, Linet, Inc., Mangar International, Inc., Invacare Corporation and Guldmann, Inc.
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