REPORT HIGHLIGHT
Medical Lifting Slings Market size was valued at USD 830.7 million in 2022, expanding at a CAGR of 9.9% from 2023 to 2030.
Medical lifting slings are patient-lifting medical devices that ensure the safe lifting of patients who are obese, disabled, or weak. There are various types of patient slings available for easy, safe, and comfortable transfer of patients. these slings are typically made of durable and washable materials such as nylon or polyester, and they are designed to provide support and stability during transfers while minimizing the risk of injury to both the patient and the healthcare provider.
Medical Lifting Slings Market- Market Dynamics:
- Growing geriatric population and rising number of people that suffer from neuromuscular disorders to propel market demand
- The growing geriatric population and the increasing prevalence of neuromuscular disorders are driving the demand for medical lifting slings. Medical lifting slings provide a safe and efficient way to transfer and reposition elderly individuals, reducing the risk of accidents and strain on caregivers. According to the world health organization, by 2030, 1 in 6 people in the world will be aged 60 years or over. At this time the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By 2050, the world's population of people aged 60 years and older will double (2.1 billion). overall, the growing geriatric population significantly drives the demand for medical lifting slings. and also it plays a crucial role in assisting individuals with neuromuscular conditions, providing support, safety, and enhanced quality of life for both patients and caregivers.
Medical Lifting Slings Market- Key Insights:
- As per the analysis shared by our research analyst, the global Medical Lifting Slings market is estimated to grow annually at a CAGR of around XX% over the forecast period (2023-2030)
- The Medical Lifting Slings industry is projected to grow at a significant rate due to the growing awareness of sustainable growth
- Based on product type segmentation, transfer slings were predicted to show maximum market share in the year 2022
- Based on usage type segmentation, Disposable Slings were the leading type in 2022
- Based on Application segmentation, Hospitals were the leading type in 2022
- On the basis of region, Europe was the leading revenue generator in 2022
Medical Lifting Slings Market- Segmentation Analysis:
- The Global Medical Lifting Slings Market is segmented on the basis of Product Type, Application, Technology, and Region.
- The market is divided into three categories based on product type: Universal Slings, Seating Slings, Bariatric Slings, Toileting Slings, Stand up Slings, Hammock Slings, and Transfer Slings. The transfer slings segment dominates the market. Medical lifting slings are specifically designed for patient lifting and transfer needs, making them the preferred choice in healthcare settings where patient safety and proper lifting techniques are prioritized.
- The market is divided into three categories based on usage type: Disposable Slings and Reusable Slings. Disposable Slings dominate the market growth. Its use is in temporary or emergency situations, such as in field hospitals, disaster relief efforts, or during mass casualty incidents.
- The market is divided into two categories based on application: Nursing Homes, Home Healthcare, Assisted Living Facilities, and Hospitals. Hospitals dominate the market and are likely to maintain their dominance during the forecast period. Medical lifting slings play a crucial role in hospitals, where patient lifting and transfer needs are frequent and diverse.
Medical Lifting Slings Market- Geographical Insights:
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Europe is anticipated to drive the growth of the Medical Lifting Slings Market, due to Increasing demand for lifting slings in health facilities as a consequence of enhanced accidents and chronic illnesses. many individuals with chronic illnesses require specialized care and assistance with mobility. Medical lifting slings offer a reliable solution for transferring patients with chronic illnesses, enabling healthcare providers to provide necessary treatments and support while minimizing the strain on patients and caregivers. According to the national center of biotechnological information, chronic diseases are among the most prevalent and costly health conditions in the United States. Nearly half (approximately 45%, or 133 million) of all Americans suffer from at least one chronic disease and the number is growing. Overall, the Medical Lifting Slings market is expected to experience significant growth in all regions.
Medical Lifting Slings Market- Competitive Landscape:
The manufacturers have been focusing on acquisitions and collaborations to enhance their footprint in the global medical lifting slings market. Also, they concentrated on expanding their ways by launching innovative solutions for patients. As the field of healthcare equipment continues to evolve, new manufacturers and innovations may emerge, contributing to the competitive landscape. In 2022, Invacare Corporation (NYSE: IVC) announced the U.S. introduction of its Birdie Evo XPLUS, an innovative patient lift solution for the post-acute care setting. With its sleek and modern design, the Birdie Evo XPLUS provides innovative technology that helps maximize comfort and security when lifting or transferring a patient to or from a bed, chair or floor. However, companies may also evaluate the compatibility of slings with specific patient lifting devices and the availability of customization options.
Recent Developments:
In May 2022, Arjo is announcing a voluntary recall for its Sara Plus floor lifts due to the possibility of the printed circuit board overheating, resulting in smoke and/or ignition when using the Sara Plus floor lift with depleted batteries. There have been no reported injuries. Arjo has reported to relevant authorities in accordance with applicable regulations. The cost for the recall is not material.
Key features of the study:
- This proposed research study on Medical Lifting Slings market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Medical Lifting Slings market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Medical Lifting Slings market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Medical Lifting Slings market
- Impact of COVID-19 on Medical Lifting Slings market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on the Medical Lifting Slings market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Medical Lifting Slings market, we have also included competitive landscape and key innovator analysis for the Medical Lifting Slings market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate, and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Medical Lifting Slings market.
- In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
- The global Medical Lifting Slings market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL MEDICAL LIFTING SLINGS MARKET KEY PLAYERS
- ArjoHuntleigh
- Invacare Corporation
- Hill-Rom (Baxter)
- Joerns Healthcare LLC
- Argo Medical, Inc.
- Prism Medical
- DJO Global
- V.Guldmann A/S
- Spectra Care Group
- Drive Medical Inc.
GLOBAL MEDICAL LIFTING SLINGS MARKET, BY PRODUCT TYPE
- Universal Slings
- Seating Slings
- Bariatric Slings
- Toileting Slings
- Stand up Slings
- Hammock Slings
- Transfer Slings
GLOBAL MEDICAL LIFTING SLINGS MARKET, BY USAGE TYPE
- Disposable Slings
- Reusable Slings
GLOBAL MEDICAL LIFTING SLINGS MARKET, BY APPLICATION
- Nursing Homes
- Home Healthcare
- Assisted Living Facility
- Hospitals
GLOBAL MEDICAL LIFTING SLINGS MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA