Medical Lifting Sling Market - Forecast(2021 - 2026)

Report Code: HCR 0573 Report Format: PDF + Excel (Delivery in 48 Hrs)

Medical Lifting Sling Market Overview 

Medical Lifting Sling Market size was valued at $498.82 Million by 2019, and is anticipated to grow at a CAGR of 11.65% during the forecast period 2020-2025. The Medical Lifting Sling Market growth rate is attributed to rising incidences of chronic diseases and other health related disorders coupled with rising geriatric population which is highly prone to age-related disorders, which in certain cases causes immobility in patients is likely accelerate the growth of the medical lifting sling market in the forecast period of 2020-2025. The Mobility devices used to safely elevate patients-those who are frail, obese, or disabled-are medical lifting slings. According to the World Health Organization’s findings, these are important resources, especially for nurses suffering from strain injuries owing to patient lifting, accounting for an estimated one-third of all injuries reported annually. These devices are often used for the relocation of patients with reduced mobility in Nursing homes, hospitals, or clinics. The increasing populations of amputees, elderly and disabled people across the globe are the main factors for the moderate growth of the global medical lifting sling industry. The market is driven by growing lifestyle-oriented diseases such as CVD, CHD, cancer, Bariatric disease and obesity. The demand for medical slings is boosted by a wide variety of products and end-user adoption. The market is driven by substantial growth and advancement in research and development and innovation for medical slings.

As per the information published by the WHO, the population above 60 years is anticipated to be 22% of the worlds’ population, as compared to 12% in 2015. Furthermore, the surge in the development of advanced products are utilized for various functions such as standing, seating, bathing, toileting, and certain specialized medical lifting slings for amputees or Pediatrics, and is expected to propel the global medical lifting slings market during the forecast period. However, there is a high risk of cross-infection in reusable slings, which has been further impeding the growth of the market studied over the forecast period 2020-2025.

Report Coverage

The report: “Medical Lifting Sling Market Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Medical Lifting Sling Market:
By Product Type: Standing Slings, Seating Slings, Universal Slings, Hammock Slings, Transfer Slings, Toilet Slings, Bariatric Slings, and Others.
By Material Type: Nylon, Padded, Mesh, Canvas, and Others.
By Usage Type: Reusable Slings and Disposable Slings.
By End Users: Home Care, Hospital, Elderly Care, and Others.
By Geography: North America, Europe, Asia-Pacific and RoW.

Key Takeaways

  • Europe dominated the Medical Lifting Sling Market with a share of 36.5% in the year 2019.        
  • The factors such rise in geriatric population requiring assistance, increasing disabilities resulting from various lifestyle diseases such as diabetes and cardiovascular disease (CVD) are amongst the major factor projected to impel growth of Medical Lifting Sling Market.
  • Government policies promoting the use of lifting slings and high recovery cost of injuries are the key factors owing to the growth in the segment during forecast period 2020-2025. 

Medical Lifting Sling Market Segment Analysis - By End Users

On the basis of end users, the hospital segment has the largest share of the global market for medical lifting slings growing at a CAGR of 11.05%, and is anticipated to rise steadily over the forecast period. In general, individuals with neuromuscular disorders have restricted mobility ability and require continuous support for any form of mobility. In homes and hospitals, they are the main users of lifting slings.

On the contrary, the home healthcare segment is emerging as a promising end-user for these products. As compared to hospitals, home healthcare services offer an economic benefit. Increasing demand for these services in the developed as well as developing regions is anticipated to boost their usage in the care centers.

Medical Lifting Sling Market Segment Analysis - By Geography

Europe dominated the Medical Lifting Sling Market with a share of 36.5% in 2019. The application of Medical Lifting Sling has grown rapidly over the last few years owing to higher research expenses and initiatives provides advanced devices and private-public partnerships, and hence held the maximum share in this vertical. Also, the region has a well-established healthcare system; therefore, the market studied has been experiencing rapid growth. According to the German Federal Statistics Office (Destatis), 3,214 people were killed in car accidents in 2016. Over 2.6 million incidents were recorded in Germany and around 308,200 of those accidents resulted in deaths or injuries, while the overall number of traffic injuries in 2016 jumped by 0.8% to 396,700, which is poised to be a vital factor in the growth of the market studied.

Furthermore, over the forecast period 2020-2025, Asia Pacific is predicted to see a swift growth rate. Rising per capita income and economic development and the existence of high unmet needs are anticipated to lead to substantial growth in this region's huge population pool.

Medical Lifting Sling Market Drivers

Fewer mishaps and technical developments in medical slings

Presently, significant rise in global demand for medical lifting sling products is directly related to fewer accidents and mishaps during the operation, technical developments in medical lifting slings have made the patient lifting process effective. The use of hydraulic technology in patient lifting, for example, increases the level of comfort for patients and decreases the additional efforts needed by staff. Technological developments in this vertical are also allowing the market to develop rapidly.

Medical Lifting Sling Market Challenges

Fluctuations in Availability of Raw Materials

Market growth is poised to be hampered by fluctuations in the raw materials availability thereby, increasing the final products’ prices. Furthermore, owing to the lack of complete knowledge over the latest technologies and shortage in skilled manufacturers is also challenging the market. Apart from this, the lack in training regarding the controlling of medical lifting slings is limiting the market. 

Medical Lifting Sling Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Medical Lifting Sling Market. In 2019, Medical Lifting Sling Market share is fragmented by the top ten players present in the market. Medical Lifting Sling Market top 10 companies are Medline Industries Inc., Bestcare LLC, Invacare Corporation, Medical Depot Inc. dba DeVilbiss Healthcare, DJO Global, Arjo, Prism Medical, Handicare, Vancare, Osprey Sling Company, NAUSICAA MEDICAL, HoverTech International and others.

Acquisitions/Product Launches

  • In June 2019, Savaria Corporation acquired the leading manufacturer of patent transfer slings and accessories, Silvalea. The acquisition will provide the sling manufacturing expertise and technical know-how to accelerate the production of custom slings for the customers of Savaria Corporation. 
  • In March 2019, Invacare Corporation announced the introduction of new products in its’ Bridle hoist product portfolio, specially designed to lift patient from chair, bed and floor.

1. Medical Lifting Sling Market Overview
    1.1 Definitions and Scope
2. Medical Lifting Sling Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Product Type
    2.3 Key trends by End Users
    2.4 Key trends by Geography
3. Medical Lifting Sling Market – Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Patent Analysis – Key Companies
    3.4 Pricing Analysis
4. Medical Lifting Sling Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Medical Lifting Sling Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Medical Lifting Sling Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Medical Lifting Sling Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Medical Lifting Sling Market – By Product Types (Market Size – $Million/$Billion)
    8.1 Universal Slings
    8.2 Transfer Slings
    8.3 Hammock Slings
    8.4 Standing Slings
    8.5 Seating Slings
    8.6 Toilet Slings
    8.7 Bariatric Slings
    8.8 Others (Positioning Slings and Pivot Slings)
9. Medical Lifting Sling Market - By Material Type (Market Size – $Million/$Billion)
    9.1 Nylon
    9.2 Padded
    9.3 Mesh
    9.4 Canvas
    9.5 Others (Polypropylene and Cotton)
10. Medical Lifting Sling Market - By Usage Type (Market Size – $Million/$Billion)
    10.1 Reusable Slings
    10.2 Disposable Slings
11. Medical Lifting Sling Market - By End Users (Market Size – $Million/$Billion)
    11.1 Home Care Facilities
    11.2 Hospitals
    11.3 Elderly Care Facilities
    11.4 Other End Users (Emergency Medical Services, Long-term Acute Care Facilities, Trauma Centers)
12. Medical Lifting Sling Market - By Geography (Market Size – $Million/$Billion)
    12.1 North America
        12.1.1 U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 U.K.
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 India
        12.3.3 Japan
        12.3.4 South Korea
        12.3.5 Australia & New Zealand
        12.3.6 Rest of Asia-Pacific
    12.4 Rest of the World
        12.4.1 Middle East
        12.4.2 Africa
        12.4.3 South America
13. Medical Lifting Sling Market - Entropy
14. Medical Lifting Sling Market – Industry/Segment Competition Landscape Premium
    14.1 Market Share Analysis
        14.1.1 Global Market Share – Key Companies
        14.1.2 Market Share by Region – Key companies
        14.1.3 Market Share by Countries – Key Companies
        14.1.4 Best Practices for Companies
15. Medical Lifting Sling Market – Key Company List by Country Premium Premium
16. Medical Lifting Sling Market Company Analysis
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
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