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 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.
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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
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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
- North America
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Patient Lift Pendant Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.88% |
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Market Growth 2024-2028 |
USD 598.54 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.21 |
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Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
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Performing market contribution |
North America at 41% |
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Key countries |
US, Canada, Germany, UK, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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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. |
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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. |
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
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