The Worldwide Medical Lifting Sling Industry is Expected to Reach $1.7 Billion by 2030 - ResearchAndMarkets.com

The "Global Medical Lifting Sling Market Size, Share & Trends Analysis Report, by Product (Nylon, Padded, Mesh, Canvas), by Application (Transfer, Universal, Hammock, Standing, Seating, Toilet, Bariatric), by Usage, by End-use, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global medical lifting sling market is anticipated to reach USD 1.7 billion by 2030. The market is expected to expand at a CAGR of 8.5% from 2022 to 2030.

Expanding geriatric and disabled population coupled with rising need for home healthcare products are propelling the market growth. Geriatric population forms the target population for this market. This demographic is highly susceptible to age-related disorders that in certain cases causes immobility. Moreover, the advent of long-term care centers and elderly care centers is creating growth opportunities for market players.

The outbreak of COVID-19 in the year 2020 has positively impacted the medical lifting sling market growth. Increased number of COVID-19 cases and high demand for ventilator support, surged the importance of having supporting aids during the entire stay in hospital. In addition, WHO published the guidance for using disposable medical lifting slings and other equipment, regarding the management of COVID-19 patients. These factors are anticipated to create huge growth opportunities for market players over the forecast period.

Moreover, the prevalence of disabilities is also boosting the demand for the slings. As per the data published by WHO, around 15% of the world's population lives with some form of disability. Out of those some 2% to 4% population experience difficulties in functioning. Old people of 80 years or above are about eight times more likely to have a disability.

As per the data published by the U.S. Census Bureau, around 19.9 million people had difficulty in lifting and grasping. All these factors are positively influencing the need for assistive devices like medical lifting slings to obtain mobility.

Medical Lifting Sling Market Report Highlights

• Based on product, nylon slings accounted for the largest market share of 29.30% in 2021 owing to the associated benefits, which include greater durability, reusability, and their availability in multiple shapes and sizes..
• Based on application, transfer slings was the largest segment in 2021 in terms of revenue and is anticipated to remain the same over the forecast period. Reason being its purpose which includes transferring a patient to and or from a chair, bed and from floor.
• Hospitals formed the largest end-user for these products in 2021. The huge patient pool and a greater financing capability facilitate bulk purchasing of these products in hospitals..
• Europe medical lifting sling market dominated with around 32.59% market share in 2021 to the higher research expenditure, more initiatives to provide advanced devices, and private-public partnerships..
• Asia Pacific is expected to grow at a rapid pace over the forecast owing to the increasing per capita income and the presence of high unmet needs of the huge population pool in this region..

Market Dynamics

Drivers

• Increasing prevalence of chronic diseases requiring long-term care
• Rapidly growing geriatric population
• Increasing availability of home healthcare services and staff

Restraints

• Lack of qualified staff
• Performance failure and durability issues of medical lifting slings

Companies Mentioned

• Getinge Group (ArjoHuntleigh)
• HILLROM Services inc.
• Invacare Corporation
• Joerns Healthcare LLC
• Handicare group ab
• V.Guldmann A/S
• Scaleo Medical
• Ardoo Hoists

For more information about this report visit https://www.researchandmarkets.com/r/iehd14

View source version on businesswire.com: https://www.businesswire.com/news/home/20220817005557/en/