SAN FRANCISCO, July 13, 2022 /PRNewswire/ -- The global medical lifting sling market is anticipated to reach USD 1.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.5% from 2022 to 2030. Expanding geriatric and disabled population coupled with rising need for home healthcare products are propelling the market growth. Geriatric population forms the target population for this market. This demographic is highly susceptible to age-related disorders that in certain cases causes immobility. Moreover, the advent of long-term care centers and elderly care centers is creating growth opportunities for market players.
Key Industry Insights & Findings from the report:
- Based on product, nylon slings accounted for the largest market share of 29.30% in 2021 owing to the associated benefits, which include greater durability, reusability, and their availability in multiple shapes and sizes.
- Based on application, transfer slings was the largest segment in 2021 in terms of revenue and is anticipated to remain the same over the forecast period. Reason being its purpose which includes transferring a patient to and or from a chair, bed and from floor.
- Hospitals formed the largest end-user for these products in 2021. The huge patient pool and a greater financing capability facilitate bulk purchasing of these products in hospitals.
- Europe medical lifting sling market dominated with around 32.59% market share in 2021 to the higher research expenditure, more initiatives to provide advanced devices, and private-public partnerships.
- Asia Pacific is expected to grow at a rapid pace over the forecast owing to the increasing per capita income and the presence of high unmet needs of the huge population pool in this region.
Read 102-page market research report, "Medical Lifting Sling Market Size, Share & Trends Analysis Report, By Product (Nylon, Padded, Mesh, Canvas), By Application (Transfer, Universal, Hammock, Standing, Seating, Toilet, Bariatric), By Usage, By End-use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Medical Lifting Sling Market Growth & Trends
The outbreak of COVID-19 in the year 2020 has positively impacted the medical lifting sling market growth. Increased number of COVID-19 cases and high demand for ventilator support, surged the importance of having supporting aids during the entire stay in hospital. In addition, WHO published the guidance for using disposable medical lifting slings and other equipment, regarding the management of COVID-19 patients. These factors are anticipated to create huge growth opportunities for market players over the forecast period.
Moreover, the prevalence of disabilities is also boosting the demand for the slings. As per the data published by WHO, around 15% of the world's population lives with some form of disability. Out of those some 2% to 4% population experience difficulties in functioning. Old people of 80 years or above are about eight times more likely to have a disability. As per the data published by the U.S. Census Bureau, around 19.9 million people had difficulty in lifting and grasping. All these factors are positively influencing the need for assistive devices like medical lifting slings to obtain mobility.
Medical Lifting Sling Market Segmentation
Grand View Research has segmented the global medical lifting sling market on the basis of product, application, usage, end-use and region:
Medical Lifting Sling Market - Product Outlook (Revenue USD Million; 2018 - 2030)
- Nylon Slings
- Padded Slings
- Mesh Slings
- Canvas Slings
- Other Slings
Medical Lifting Sling Market - Application Outlook (Revenue USD Million; 2018 - 2030)
- Transfer Slings
- Universal Slings
- Hammock Slings
- Standing Slings
- Seating Slings
- Toileting Slings
- Bariatric Slings
- Other Slings
Medical Lifting Sling Market - Usage Outlook (Revenue USD Million; 2018 - 2030)
- Reusable Slings
- Disposable Slings
Medical Lifting Sling Market - End-use Outlook (Revenue USD Million; 2018 - 2030)
- Hospital
- Homecare
- Elderly Care
- Other Healthcare Settings
Medical Lifting Sling Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
List of Key Players of Medical Lifting Sling Market
- 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.
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Browse through Grand View Research's Medical Devices Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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