Global Medical Lifting Slings Market to Reach US$632.8 bn by 2023
Market Research Reports Search Engine has announced the addition of a report, titled “Medical Lifting Slings Market and Geography - Global Industry Analysis, Size, Share, Growth, Trends, and For...
Market Research Reports Search Engine has announced the addition of a report, titled “Medical Lifting Slings Market and Geography - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023,” to its repository. The report studies the global medical lifting slings market from the ground up, comprising details regarding the prevailing market trends, recent trends, future outlook, and opportunities. It also explores the drivers and restraints that have impacted and will have an impact on the market.
The report pegs the overall value of the global medical lifting slings market at US$312.0 mn in 2014. Expanding at a CAGR of 7.8% between 2015 and 2023, the market is expected to reach US$632.8 mn by the end of 2023.
With the rising incidence of lifestyle diseases and the growing number of people with disabilities, the demand for medical lifting slings has significantly risen over the past few years. Lifting slings are necessary medical devices used along with hoists to support ailing or disabled patients while they are lifted or transferred. Patient care on a daily basis requires lifting patients or providing body movements to perform daily activities such as bathing, toileting, and walking. These tasks may involve handling chronically ill or disabled patients. Hence, patient care is considered more complicated than handling materials in an industrial setting. Additionally, in some cases, patients may have medical or psychological conditions that can complicate movement activities and manual lifting. Such factors substantially aid the expansion of the global medical lifting slings market.
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With an aim to provide a comprehensive overview of the global market for medical lifting slings, the report segments the market on the basis of product type, sling point, end user, sling shape, and geography. Based on product type, the market is segmented into seating slings, bariatric slings, universal slings, stander slings, transfer slings, hammock slings, toileting slings, and others. The end user segments of the market include hospitals, assisted living facilities, nursing homes, home healthcare, and others. Hospitals as an end user report the maximum contribution to the market in terms of revenue owing to their affluence and the tendency of large healthcare institutions to make bulk purchases.
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Regionally, the report segments the market into Asia Pacific, Europe, North America, and Rest of the World. Each of these regional markets is qualitatively and quantitatively assessed to explore prospects in the major countries located across these regions. Of these regional markets, Europe dominated the market in 2014, followed by North America. Favorable regulations implemented in Europe pertaining to non-manual patient handling and high rate of adoption of slings in hospitals and healthcare centers of the region have been the primary drivers of the medical lifting slings market in Europe. Other demographic factors such as the increasing geriatric population and rising disposable income also substantially contributed to the market for medical lifting slings in the region.
The report is compiled with the aim of updating the market stakeholders about its prevailing dynamics and the market’s future outlook. An overview of the competitive landscape is therefore included in the report. For the purpose of the study, companies such as Argo Medical Inc., ArjoHuntleigh, GF Health Products, Inc., Bestcare, LLC, DJO Global, Drive DeVilbiss Healthcare, Invacare Corporation, Etac AB, Joerns Healthcare, LLC, and Prism Medical are profiled in the report.
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