The global medical lifting sling market size was worth USD 509.72 million in 2020 and is expected to grow at a CAGR of 11.5% to reach USD 878.43 million by 2025.
MARKET DRIVERS:
Rising incidences of chronic diseases and other health disorders, increasing adoption of sedentary lifestyles, and food habits changes are majorly promoting the medical lifting sling market demand.
From the past few years, there is an increase in the number of obese patients, which is also one of the factors accelerating the market's demand. Medical lifting sling helps the patients during their treatment in the hospitals, where this attribute accelerates the market's growth rate. The rapidly increasing elderly population is straightly propelling the demand for this market.
Growing investments in hospitals' construction with the latest equipment worldwide are creating chances for the market to grow. Besides, the rise in the government's support in launching reimbursement schemes, which are entirely in favor of ordinary people, is also likely to boost the market demand. Medical lifting sling tools are convenient and readily available in the stores, fueling the market's need eventually. Constant economic growth in both developed and developing countries potentially makes the market share grow from the past few years. The emergence of the latest technologies in the medical sector significantly influences the growth rate of the medical lifting sling market. An increasing number of chronic diseases where there is a need for the patient to stay longer days in hospitals magnifies the market's growth rate. Also, escalating expenditure on health care is leveling up the demand of the medical lifting sling market. The rising birth rate and growing prevalence of life expectancy among individuals broaden the market's growth rate to the extent. These tools are handy for patients who are disabled, weak, or obese in lifting safely. This attribute is elevating the demand for the medical lifting sling market.
MARKET RESTRAINTS:
However, fluctuations in the raw materials' availability increase the final products' prices, which are slowly impeding the demand of the market. Due to the lack of complete knowledge over the latest technologies, the shortage of skilled manufacturers is challenging for market growth. Besides, these tools are a bit difficult to carry heavy patients, impacting the market's growth. Less training programs in controlling medical lifting slings are limiting the demand for this market. Medical lifting slings can be reused, which raises the spread of infections from one patient to another, which is hampering this market's growth rate.
Impact of COVID-19 on the global medical lifting sling market:
The world is witnessing a severe health crisis causing millions of lives at risk. The new virus is caused by a reagent known as SARS-CoV-2, known as a coronavirus (COVID-19), and declared a pandemic by the World Health Organization (WHO). Medical lifting slings are also called patient lifting slings used to shift or mobilize patients from one place to another without causing them any injuries. Lifting slings are such as stretchers, wheelchairs, and many more. Hospitals own these medical lifting slings in bulk. But, when lockdown initiated, there was no option of purchasing these patient slings due to transportation problems and lack of human resources in manufacturing them and avoiding the virus spread. Many hospitals have seen a shortage of patient lifting slings, as many as COVID-19 patients admitted. By the end of 2020, the large-sized hospitals started ordering in bulk for lifting slings, and the demand has been expanding, creating a positive impact in the market.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Covered |
By Product Type, Type of Material, Usage Type, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the Global Medical Lifting Sling Market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2025.
Medical Lifting Sling Market - By Product:
Based on product type, the transfer sling category is estimated to be the largest category and will also be the fastest-growing category in the forecast mentioned above period. This growth is due to the multi-purpose application of this sling.
Medical Lifting Sling Market - By Type of Material:
Based on the application, the Nylon material is the largest and fastest-growing segment of this market.
Medical Lifting Sling Market - By Usage Type:
By usage type, the market is segmented into disposable and reusable slings. In 2018, the reusable category will hold the most significant share of the medical lifting sling market. But still, the disposable slings category will show the most notable growth rate mainly due to the use of these slings to help control and prevent infections.
Medical Lifting Sling Market – By End-users:
Based on End-User, Hospitals are the primary end-users of this market.
Medical Lifting Sling Market – By Region:
Based on geography, Europe is the leading market because of the higher research expenses and initiatives that provide advanced devices and private-public partnerships, thus holding the largest share in this vertical. Additionally, chronic diseases prevalent and the advent of supportive reimbursement schemes are significant factors governing the vertical development in this region. The Asia Pacific is likely to witness a fast growth rate over the forecast above period. Rising per capita income and economic development and the presence of high unmet demands of the enormous population pool in this region are projected to contribute toward significant growth.
KEY MARKET PARTICIPANTS:
Notable companies leading the global medical lifting sling market profiled in this report are Argo Medical, Arjo Huntleigh, Bestcare LLC, Drive DeVilbiss Healthcare, Hill-Rom Holdings, Etac AB, GF Health Products, Guldmann, Invacare Corporation, Joerns Healthcare, and Prism Medical.
RECENT MARKET HAPPENINGS:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Transfer Slings
5.1.3 Universal Slings
5.1.4 Hammock Slings
5.1.5 Standing Slings
5.1.6 Seating Slings
5.1.7 Toileting Slings
5.1.8 Bariatric Slings
5.1.9 Others Slings
5.1.10 Y-o-Y Growth Analysis, By Product
5.1.11 Market Attractiveness Analysis, By Product
5.1.12 Market Share Analysis, By Product
5.2 Material
5.2.1 Introduction
5.2.2 Nylon Slings
5.2.3 Padded Slings
5.2.4 Mesh Slings
5.2.5 Canvas Slings
5.2.6 Other Material (Polypropylene and Cotton)
5.2.7 Y-o-Y Growth Analysis, By Material
5.2.8 Market Attractiveness Analysis, By Material
5.2.9 Market Share Analysis, By Material
5.3 Type
5.3.1 Introduction
5.3.2 Disposable Slings
5.3.3 Reusable Slings
5.3.4 Y-o-Y Growth Analysis, By Type
5.3.5 Market Attractiveness Analysis, By Type
5.3.6 Market Share Analysis, By Type
5.4 End User
5.4.1 Introduction
5.4.2 Hospitals
5.4.3 Home Care Facilities
5.4.4 Elderly Care Facilities
5.4.5 Other End Users
5.4.6 Y-o-Y Growth Analysis, By End User
5.4.7 Market Attractiveness Analysis, By End User
5.4.8 Market Share Analysis, By End User
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Material
6.1.3.4 By Type
6.1.3.5 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Material
6.1.4.4 By Type
6.1.4.5 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Material
6.1.5.4 By Type
6.1.5.5 By End User
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Getinge Group (Arjohuntleigh)
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Hill-Rom Holdings, Inc.
8.3 Invacare Corporation
8.4 Prism Medical Ltd.
8.5 Guldmann Inc.
8.6 ETAC AB
8.7 Handicare AS
8.8 Joerns Healthcare, LLC
8.9 Silvalea Ltd.
8.10 Spectra Care Group
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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