Transparency Market Research has released new report analyzing the patient handling equipment market.

According to the report, per a media release from Transparency Market Research, the global market for patient handling equipment was valued at $9.5 billion in 2015, but may reach $22.4 billion by 2024 at a CAGR of 10.2%.

The report sees the emergence of such trends as renal provisions among patients who require slings and lifts for short duration (4 to 6 months) in healthcare settings, as well as the availability of flexible rental payments allowing providers to effectively manage their cash flow throughout the year.

Other growth drivers include the need to prevent musculoskeletal injuries to both care providers and patients due to manual lifting of patients, and the cost savings on labor that are directed instead to patient handling equipment purchases, per the release.

Medical beds accounted for the largest share in the market in 2015.

For more information, visit Transparency Market Research.

[Source(s): Transparency Market Research, PR Newswire]