Under this initiative, the CMS is promoting healthcare settings such as nursing homes and approaches such as home healthcare as they can provide quality care at reduced costs (as compared to the cost of hospitalization). For instance, the Centers for Medicare and Medicaid Services (CMS) has implemented steps to provide incentives to healthcare providers for reducing hospitalization costs. Globally, an increasing number of government regulations are being implemented for reducing the duration and cost involved in healthcare treatments. Opportunities: Growing demand of home health care services This, in turn, can retrain the adoption of patient handling equipment. Also, in the case of inadequate training, caregivers may gradually shift to manual handling as they have a better understanding of manual handling techniques and may find the use of patient handling equipment cumbersome. The lack of training can result in injuries in caregivers or patients during patient handling procedures. Restrains: Lack of training provided to caregivers for efficient operation of patient handling equipmentĮffective training programs need to be implemented to create awareness regarding safe patient handling and enable caregivers to efficiently operate transfer devices. Thus, to prevent injuries among caregiver’s, lateral patient transfer device demand has increased over the years and this is expected to increase further. The risk of back injuries increases during lateral transfer, as caregivers must reach over the stretcher to the bed and physically pull the patient across onto a stretcher. According to OSHA (Occupational Safety and Health Administration), approximately 34% of all injuries occurring in hospital workforce are related to patient interactions and patient handling of these, back injuries are the most prevalent. With age, healthcare workers statistically become more vulnerable to infections and musculoskeletal injuries. Manual handling of disabled patients may result in severe musculoskeletal injuries to caregivers, it can cause caregiver injury and put patients at risk of falls, fractures, bruises, and skin tears. Patient lateral transfer Market Dynamics Drivers: High risk of injuries to caregivers during manual handling of patients Many key players in the market have observed positive impact on its revenue due to higher demand of beds and lateral transfer devices. Such high rate of hospitalization has increased the demand of patient lateral transfer devices in the hospitals. For instance, according to the Centers for Disease Control and Prevention (CDC), April 24, 2020, the rate of hospitalization due to COVID-19, for people of age 65 and above is 95.5 per 100,000. Increased number of hospitalizations due the COVID-19 outbreak is anticipated to propel the market growth over the forecast period. In this report, the patient lateral transfer market is segmented based on product and end user.ĬOVID-19 Impact on the Patient lateral transfer MarketĬoronavirus has spread across 215 countries and territories and affected more than 4.4 million people, with close to 300 thousand deaths. However, the lack of training to caregivers for the efficient operation of patient handling equipment is a key challenge in this market. 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. Due to the outbreak of corona virus globally, there is a sudden rise in the demand for patient lateral transfer services. 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.
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