With the increasing geriatric population, the demand for medical
lifting slings is rising substantially across the world. The global
market for medical lifting slings is likely to gain considerably from
this factor, with its valuation rising from US$391.8 mn in 2015 to
US$910.6 mn by 2024, expanding at a CAGR of 9.20% during the period
from 2016 to 2024. However, the lack of medical professionals with
adequate expertise, the market may face tough challenge in the near
future.
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This report is aimed at providing clear and detailed information
about the worldwide market for medical lifting slings to consultants,
stakeholders, and other participants of this market to assist them in
making well thought of decisions about their businesses.
Currently, the demand for medical lifting slings is significantly
high in hospitals. However, the high cost associated with advanced
medical lifting slings may limit their demand in the hospital
segment, especially in developing economies over the next few years.
The home healthcare segment is also expected to report a tremendous
rise in the demand for medical lifting slings in the near future.
U-shape slings are more in demand than full body slings and are
projected to remain reporting high demand over the forthcoming years.
The latest trend in this market is to rent medical lifting slings
among consumers, which isn’t likely to die out soon.
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In terms of the region, the global market for medical lifting slings
is spread across Europe, Asia Pacific, North America, the Middle East
and Africa, and Latin America. Among these, Europe, with a share of
more than 33%, led the global market in 2015. The increasing
implementation of favorable government policies has been supporting
this market in Europe since the last few years. Researchers expect
the scenario to remain so in the near future, thanks to the rising
expenditure of consumers advanced healthcare products.
North America, which stood second among all the regional markets for
medical lifting slings in 2015 with a share of nearly 30%, is also
expected to retain its position over the next few years. However,
Asia Pacific is likely to emerge as the most promising regional
market for medical lifting slings across the world in the years to
come. Other regional markets, such as the Middle East and Africa and
Latin America are also projected to witness considerable growth in
their respective markets for medical lifting sling over the
forthcoming years.
The worldwide market for medical lifting slings is highly competitive
and fragmented due to the presence of a large pool of participants.
The key players are emphasizing more on product innovation and
technological advancements to strengthen their position in the global
market. Prism Medical, Invacare Corporation, Joerns Healthcare LLC,
GF Health Products Inc., DJO Global, Etac AB, Drive DeVilbiss
Healthcare, Bestcare, LLC, Agro Medical Inc., and ArjoHuntleigh are
some of the leading players operating in the global medical lifting
slings market.
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