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  • Published In : May 2024
  • Code : CMI3840
  • Pages :154
  • Formats :
      Excel and PDF
  • Industry : Medical Devices

Regional Analysis

Patient Lateral Transfer Devices Market Regional Insights

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North America remains the dominant region in the global patient lateral transfer devices market and is estimated to hold 33.9% of the market share in 2024 due to a strong healthcare infrastructure and high healthcare spending across major countries like the U.S. The presence of most global leaders in the medical devices industry such as Stryker, Hill-Rom, and Arjo have helped boost the adoption of safe patient transfer devices in clinical settings. In addition, favorable reimbursement policies backed by private and public insurance payers have made lateral transfer equipment accessible to a wide range of care providers.

The Asia Pacific region is emerging as the fastest growing market for patient lateral transfer devices. Countries like China, India, Japan, and South Korea are witnessing exponential growth in the geriatric population coupled with the rising prevalence of chronic diseases. This has significantly increased the burden on healthcare systems. In response, governments across Asia Pacific are investing heavily to modernize hospitals and nursing homes with latest medical technologies. This includes replacing outdated patient transfer aids with ergonomic lateral transfer equipment. The export of patient lateral transfer devices from major Asia Pacific countries like China and India is also on the rise. Their ability to produce high-quality cost-effective products has enabled them gain a strong foothold in price-sensitive developing markets of Middle East, Africa, and Latin America. Additionally, global medical device giants are shifting their low-cost device manufacturing base to Asia Pacific in order to reduce production costs. Their increasing regional presence through partnerships with local players will augment supply and access to lateral transfer devices across Asia Pacific in the coming years.

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