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    Medical Lifting Slings Market Report

    Medical Lifting Slings Market Report
    Report code - SR2547 Delivery - 2 Weeks
    Medical Lifting Slings Market Size, Share, Trend, Forecast, Competitive Analysis, and Grow See more...

    Market Insights

    The medical lifting slings market was estimated at US$ 0.61 billion in 2021 and is expected to grow at a CAGR of 10.01% during 2022-2028 to reach US$ 13.40 billion in 2028.

    Want to know more about the market scope: 

    The rising prevalence of chronic diseases necessitating long-term patient care is expected to increase the use of medical lifting slings. The growing senior population, as well as the growing number of physically challenged people, are driving up demand for medical lifting slings. Various market participants are working hard to meet the need for rehabilitation assistive equipment such as walkers, hospital beds, wheelchairs, crutches, commode chairs, patient lifts, slings, and so on.

    These characteristics are expected to generate significant growth potential for market participants during the forecast period. Aging increases an individual's propensity to developing target diseases such as rheumatoid arthritis and osteoporosis. According to the Arthritis Society, around 6 million Canadians (1 in 5 adults) have arthritis, and this figure is anticipated to increase to an estimated 9 million by 2040. (1 in 5 today to 1 in 4 in 2040). The aged population is also more vulnerable to chronic illnesses such as diabetes, cardiovascular problems, and other lifestyle-related disorders, which will drive market expansion.

    According to the CDC, there are approximately 49 million people in the United States aged 65 and up in 2016, accounting for 15% of the population, and this figure is expected to rise to 71 million by 2030 and 98 million by 2060. According to the Population Reference Bureau fact sheet, the number of individuals aged 65 and up in the United States is predicted to nearly double from 52 million in 2018 to 95 million by 2060 (an increase from 16% to 23%). As a result, the growing geriatric population is likely to extend the patient pool for medical lifting sling manufacturers. Furthermore, ageing demographics have increased demand for long-term care facilities and nursing homes, which drives the demand for medical lifting slings.

    Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market:

    • Germany is the world's third largest supplier of medical technology items, trailing only the United States and Japan. Furthermore, ongoing investment in research and innovation by German medical device makers is predicted to considerably contribute to the European medical lifting slings industry. For example, around 1,200 companies are active in the medical technology sector and invest approximately 9% of their revenue in R&D. Strong collaboration between German equipment makers and R&D institutes aids in preserving an internationally unrivalled competitive edge. Germany has over 11,000 medical device manufacturers and over 30 specialised cluster networks that connect corporations, universities, hospitals, and other research institutes to foster continuous innovation in R&D and manufacturing.

    Key Players

    The following are the major players in the medical lifting slings 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.

    Companies are adopting numerous strategic activities, such as mergers, acquisitions, and collaborations, to produce novel inventive solutions and grow operations in both established and developing countries in order to increase their worldwide presence. The primary strategic initiatives influencing industry dynamics are distribution channel enhancement, new product development, regional expansion, and collaborations.

    • Baxter International, Inc., a worldwide medical technology firm, acquired Hill-Rom in December 2021 to provide new prospects for innovation, which will help lower costs and enhance overall care results.

    Segment Analysis

    Usage Type

    The medical lifting slings market has been divided into reusable and disposable. Reusable medical lifting slings held the greatest proportion of the global market in 2021. This is due to the fact they are able to be used and washed again. Most reusable slings are controlled by the caregiver and can be used for patients with restricted upper body function (head support).

    Furthermore, reusable slings are intended to make it simple to move, roll, or turn a patient. These slings are often composed of polyester and yarn to improve comfort and prevent shear by conforming to the contours of the body. During the forecast period, the reusable medical lifting slings sector is predicted to increase at a modest rate.

    Nevertheless, disposable medical slings are expected to develop rapidly during the projection period. The key motivation for professionals to convert to disposable products is the rising risk of hospital-borne infections and cross-infection caused by reusable products. When they become soiled, they may be quickly disposed of to prevent cross contamination. The sling is manufactured from eco-friendly materials.

    End User Type

    The market is segmented into hospitals and clinics, homecare settings, and others. In 2021, hospitals will be the largest end-user of these products. The large patient pool and increased financial power make bulk acquisition of these products in hospitals possible. Medical lifting slings are commonly used in hospitals to transfer patients with mobility issues.

    The hospital segment is expected to lead the medical lifting slings market during the forecast period, owing to an increase in bulk purchases of medical lifting slings due to their limited product life and the increasing use of medical lifting slings in hospitals to assist disabled patients.

    The home healthcare market is expected to be a potential end-user for these goods. When compared to hospitals, home healthcare services are more cost effective. Furthermore, medical lifting slings are an important aspect of home health care (after surgery) when a user or amputee needs to get up from a sitting posture or out of bed and/or move from one location to another at home.

    Furthermore, these slings are excellent when the user is easily lifted from a bed and transferred to a wheelchair, bath, or commode without putting strain on the caregiver or putting the occupant in danger. Increased demand for these services in both developed and developing nations is expected to drive their growth.

    Regional Analysis

    The medical lifting slings market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Europe held the highest share of the medical lifting sling market in 2021, owing to increased research spending and more efforts that deliver sophisticated products as well as private-public partnerships.

    Furthermore, the increased prevalence of chronic diseases and the implementation of supportive reimbursement systems are critical variables driving market expansion. Europe is home to world-class research, and its research facilities are used by researchers from all over the world. The United Kingdom has established a world-class research infrastructure.

    These research efforts are funded by the EU and specific European countries. The increased frequency of chronic conditions, as well as the implementation of supportive reimbursement programmes, are key drivers of the European medical lifting slings industry.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

    We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The market is expected to grow at a CAGR of 10.01% during 2022-2028.

    The market size was estimated at US$ 0.61 billion in 2021 and is projected to reach US$ 13.40 Billion in 2028.

    The major players in the medical lifting slings market are 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.

    Europe held the highest share of the medical lifting sling market in 2021, owing to increased research spending and more efforts that deliver sophisticated products as well as private-public partnerships. Furthermore, the increased prevalence of chronic diseases and the implementation of supportive reimbursement systems are critical variables driving market expansion.

    The hospital segment is expected to lead the medical lifting slings market during the forecast period, owing to an increase in bulk purchases of medical lifting slings due to their limited product life and the increasing use of medical lifting slings in hospitals to assist disabled patients.

    The rising prevalence of chronic diseases necessitating long-term patient care is expected to increase the use of medical lifting slings. The growing senior population, as well as the growing number of physically challenged people, are driving up demand for medical lifting slings.