+1-518-618-1030 866 - 552 - 3453 USA-Canada Toll Free
Published Date: 2016-05-16Number of Pages: 130

Medical Lifting Slings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Given their applications in health care, the demand for medical lifting slings corresponds directly to the increasing geriatric population worldwide, since a large share of this demographic suffers from mobility-related disorders. The usability of medical lifting slings is therefore poised to surge in the health care industry. This, combined with the latest advancements introduced to improve designs of medical lifting slings, will boost their sales at a CAGR of 9.2%.

Prospects in Europe for Medical Lifting Slings Market to be Most Lucrative

Regionally, Europe accounted for the dominant share of 33.09% in the market in 2015. North America emerged as the second-largest regional market for medical lifting slings holding 28.90% of the global market in 2015. In Europe, the market for medical lifting slings is expected to gain considerably from favorable government policies. 

However during the forecast period, prospects exhibited for the market in Asia Pacific is expected to be the most lucrative. As per TMR, the Asia Pacific market for medical lifting slings is expected to surge at a CAGR of 9.7% between 2016 and 2024. 

Hospitals to Report Highest Demand for Medical Lifting Slings

Hospitals majorly exhibit bulk purchase of medical lifting slings due to their limited product life. In Asia Pacific, the demand for cost-effective medical lifting slings is expected to rise in particular. However, the high cost of advanced medical lifting slings may hamper their sales in the hospital segment of developing economies. As per TMR, the hospitals segment is expected to report a CAGR of 8.9% between 2016 and 2024. In 2015, the segment was valued at US$186.3 mn. 

Besides this, home health care is also fast emerging as a lucrative segment for sale or rent of medical lifting slings. 

 

medical-lifting-slings-market

 

Favorable Policies by Governments to Ensure Highest Standards of Patient Care to Boost Market

Based on in-depth research, Transparency Market Research (TMR) projects the valuation of the global medical lifting slings market to reach US$910.6 mn by 2024 from US$391.8 mn in 2015. By sling shape, the demand for u-shape slings is likely to be the highest during the forecast period. Regionally, Europe will emerge as the most lucrative market for medical lifting slings globally. Among other factors, the rising willingness among consumers for spending on advanced healthcare has been crucial in bolstering the sales of medical lifting slings.

Ensuring the highest standard of healthcare facilities is a priority for governments across developed as well as developing nations. Encouraged by favorable policies, leading manufacturers are keen on investing on better designs of medical lifting slings. The emerging rental provisions have been aiding the medical lifting slings market as well. This new trend facilitates patients who require slings for shorter duration.

Lack of Technical Expertise Emerges as Major Challenge for Companies

Despite opportunities in the market being high across the globe, the lack of technical expertise and inadequate training provisions are having an adverse impact on the market. For instance, lifts can prove dangerous if correct lifting slings are not selected. In order to avoid such incidents, TMR recommends hospitals and health care centers to focus on providing adequate training to care providers. Understanding the principles behind potential risks of various types of hoisting will help them in delivering improved patient care. 

Based on end users, hospitals hold the largest share in the market. TMR estimates the market share held by this segment to be around 47.54% in 2015. The segment is considerably gaining from the increase in obese population in developed nations such as the U.S. The increasing incidence of lifestyle impairments also has positively influenced the demand from this segment. 

Some of the leading vendors operating in the global medical lifting slings market include Hill-Rom Holding, Inc., Prism Medical Ltd., ArjoHuntleigh, Inc., Invacare Corporation, Barrier Free Lifts, Inc., Joerns Healthcare, LLC, Silvalea, Vancare, Inc., Guldmann, Inc., MedCare, and others. 

This report analyzes the current and future prospects of the medical lifting slings market globally. Medical lifting slings are devices used in hospitals and nursing homes to transfer patients who have restricted mobility. The medical lifting slings market is driven by increasing geriatric population as the large group of this population suffer from mobility-related disorders. Medical lifting slings are used to handle or transfer aged people. This is likely to increase utilization of medical lifting slings products. Hence, the global demand for medical lifting slings is likely to increase during the forecast period from 2016 to 2024.

The market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments and sub-segments of the market. It also provides information and data analysis of the global medical lifting slings market with respect to market segments based on the product type, sling point, sling shape and geographic analysis. Based on product type, the global medical lifting slings market has been segmented into bariatric sling, seating sling, stander sling, universal sling, hammock sling, transfer sling, toileting sling and others. Market size estimations involved in-depth study of medical lifting slings by product type, sling point and sling shape. Additionally, market related factors such as increasing preference for technological advancements and improved product design coupled with government subventions are also expected to contribute to the growth of the market in the near future in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size. The market size and forecast in terms of US$ million for each segment has been provided for the period from 2014 to 2024. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2016 to 2024, considering 2014 and 2015 as base years.

Furthermore, based on geography, the market has been analyzed into major regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). The market size and forecast for each of these regions has been provided for the period from 2014 to 2024, along with their respective CAGRs for the forecast period from 2016 to 2024, considering 2014 and 2015 as base years.

A detailed qualitative analysis of factors responsible for driving and restraining the market growth and future opportunities has been provided in the market overview section. This section of the report also provides with market attractiveness analysis, and a Company share analysis providing a thorough analysis of the overall competitive scenario in the global medical lifting slings market.

A list of recommendations has been provided for develop combination sling and lifting devices as well as existing market players to assist them in taking strategic initiatives to establish a strong presence in the market. The report also profiles major players in the market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. The global medical lifting slings market consists small number of companies accounted for majority market share. Major players operating in the global medical lifting slings market are ArjoHuntleigh, Argo Medical, Inc., Bestcare, LLC, Drive DeVilbiss Healthcare, Etac AB, DJO Global, GF Health Products, Inc., Joerns Healthcare, LLC, Invacare Corporation and Prism Medical.

The global medical lifting slings market is segmented as follows:

  • Global Medical Lifting Slings Market, by Product
    • Bariatric Sling
    • Seating Sling
    • Stander Sling
    • Universal Sling
    • Hammock Sling
    • Transfer Sling
    • Toileting Sling
    • Others
  • Global Medical lifting slings Market, by Sling Point
    • 2 point
    • 4 point
    • 6 point
  • Global Medical lifting slings Market, by Sling Shape
    • U-shape Sling
    • Full Body Sling
  • Global Medical lifting slings Market, by End-user
    • Hospital
    • Nursing Home
    • Home Health Care
    • Assisted Living Facilities
    • Others
  • Global Medical lifting slings Market, by Geography
    • North America
      • North America Market, by Product
        • Bariatric Sling
        • Seating Sling
        • Stander Sling
        • Universal Sling
        • Hammock Sling
        • Transfer Sling
        • Toileting Sling
        • Others
      • North America Market, by Sling Point
        • 2 point
        • 4 point
        • 6 point
      • North America Market, by Sling Shape
        • U-shape Sling
        • Full body Sling
      • North America Market, by End-user
        • Hospital
        • Nursing Home
        • Home Health Care
        • Assisted Living Facilities
        • Others
    • Europe
      • Europe Market, by Product
        • Bariatric Sling
        • Seating Sling
        • Stander Sling
        • Universal Sling
        • Hammock Sling
        • Transfer Sling
        • Toileting Sling
        • Others
      • Europe Market, by Sling Point
        • 2 point
        • 4 point
        • 6 point
      • Europe Market, by Sling Shape
        • U-shape Sling
        • Full body Sling
        • Europe Market, by End-user
        • Hospital
        • Nursing Home
        • Home Health Care
        • Assisted Living Facilities
        • Others
      • Asia Pacific
        • Asia Pacific Market, by Product
          • Bariatric Sling
          • Seating Sling
          • Stander Sling
          • Universal Sling
          • Hammock Sling
          • Transfer Sling
          • Toileting Sling
          • Others
        • Asia Pacific Market, by Sling Point
          • 2 point
          • 4 point
          • 6 point
        • Asia Pacific Market, by Sling Shape
          • U-shape Sling
          • Full body Sling
        • Asia Pacific Market, by End-user
          • Hospital
          • Nursing Home
          • Home Health Care
          • Assisted Living Facilities
          • Others
    • Rest of the World
      • Rest of the World Market, by Product
      • Bariatric Sling
      • Seating Sling
      • Stander Sling
      • Universal Sling
      • Hammock Sling
      • Transfer Sling
      • Toileting Sling
      • Others
    • Rest of the World Market, by Sling Point
      • 2 point
      • 4 point
      • 6 point
    • Rest of the World Market, by Sling Shape
      • U-shape Sling
      • Full Body Sling
    • Rest of the World Market, by End-user
      • Hospital
      • Nursing Home
      • Home Health Care
      • Assisted Living Facilities
      • Others


 
 
Back To Top