The vendor landscape of the global medical lifting slings market is
consolidated in developed countries, which are home to major
international players, but remains fragmented in emerging nations,
says Transparency Market Research (TMR). The presence of local and
small-scale enterprises in large numbers has rendered the competitive
landscape of the market in developing countries highly fragmented.
There is keen rivalry among top players in the market due to the
increasing demand for customization to cater to the specific
requirements of users.
Since the market exhibits high demand for cost-effective, adaptive,
and technologically advanced devices to address the diverse mobility
needs of patients, opportunities for the entry of new players are
quite high.
Hill-Rom Holding, Inc., ArjoHuntleigh, Inc., Invacare Corporation,
Guldmann, Inc., Barrier Free Lifts, Inc., Silvalea, Vancare, Inc.,
Joerns Healthcare, LLC, MedCare, have emerged as the leading players
in the global medical lifting slings market. TMR new study recommends
companies to broaden their product offerings and services to
strengthen their position in the market.
Favorable Government Policies Create Lucrative Prospects for
Medical Lifting Slings Market
Several governments worldwide have implemented policies favoring
growth of the healthcare industry, the benefits of which are extend
to the medical lifting slings market as well. Encouraged by these
stringent regulations, leading manufacturers have been investing on
advanced designed of medical lifting slings, thus positively fuelling
their demand globally. The emerging rental provisions have also
significantly boosted the sales of medical lifting slings. This new
trend is facilitated by the rising demand for home health care and
the subsequent requirement of slings for shorter durations.
“Despite exhibiting growth at an impressive rate, the lack of
technical expertise and absence of proper training provisions are
likely to have an adverse impact on the market’s trajectory,”
said a lead TMR analyst. “For instance, if lifts are not attached
with proper slings it can prove dangerous for both patients and care
providers,” he added. TMR recommends the healthcare industry to
focus on training of care givers for them to understand the potential
risks of various types hoisting better.
Look through the Advancement in Medical Lifting Slings at: http://bit.ly/2bXrnbw
Hospitals Exhibit High Demand for Medical Lifting Slings
By end users, hospitals emerged as the largest segment in the global
medical lifting slings market in 2015, accounting for a share of
47.54%. The rising obese population in developed countries such as
the U.S. has been positively influencing demand from this segment.
The increasing incidence of lifestyle impairments is also boosting
demand for medical lifting slings across hospitals.
The high demand from hospitals is aided by the bulk purchase of
medical slings from this segment due to their limited product life.
Besides this, the demand for cost-effective medical lifting slings is
expected to rise considerably in Asia Pacific. TMR forecasts the
hospitals segment to exhibit a CAGR of 8.9% between 2016 and 2024.
The hospitals segment stood at US$186.3 mn in 2015. Besides this, the
home health care segment is also exhibiting rising demand for
cost-effective medical lifting slings.
Europe to Emerge as Largest Regional Market for Medical Lifting
Slings
Regionally, Europe emerged as the largest market for medical lifting
slings, accounting for a share of 33.09% in 2015. North America, in
the same year, emerged as the second-largest market for medical
lifting slings with a share of 28.90% in the overall market. The
favorable government policies will boost sales of medical lifting
slings in Europe.
Based on in-depth research, TMR forecasts the global medical lifting
slings market to rise at a CAGR of 9.2% between 2016 and 2024. The
market was valued at US$391.8 mn in 2015 and is expected to reach
US$910.6 mn by the end of 2024
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