Rise in the development of high-end medical lifting slings used for several different functions such as toileting, bathing, seating, and standing among others are projected to help the development of the global market
With increasing R&D in the market to create new age and innovative products is also helping in pushing market growth
ALBANY, New York, March 20, 2020 /PRNewswire/ -- Transparency Market Research has now published a new research report that talks about the working dynamics of the global medical lifting slings market. The research report tried highlight the important growth factors, inhibiting factors, key segments, current geographical outlook, and the overall state of the vendor landscape of the global medical lifting slings market.
As per the findings of the research report, the global medical lifting slings market was valued around US$520.0 Mn in 2018. The market is expected to showcase a highly promising CAGR of 9.6% over the course of the provided forecast period of 2019 to 2027. With this rate of growth, the global market for medical lifting slings is expected to reach a new and higher valuation worth US$1,350 Mn by the fall of 2027.
Global Medical Lifting Slings Market – Key Takeaways
Based on product, the segment of seating lifting slings has been the dominant one with respects to value, in the global medical lifting slings market.
The segment of bariatric slings is projected to showcase a promising rate of growth in the coming years of the forecast period.
Depending on usage, the segment of reusable slings accounted for a majority of the share of the global medical lifting slings market due to their greater availability and flexible services.
In terms of shape, the global medical lifting slings market is expected to be dominated by U shape slings because of their ease of use and convenience.
The segment of hospitals accounted for a larger share in the global market in 2018, then followed by the segment of nursing homes.
On the other hand, the segment of home healthcare is expected to grow with a notable CAGR in the coming years of the forecast period.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Medical Lifting Slings Market by Product - Bariatric Slings, Seating Slings, Stand up Slings, Universal Slings, Hammock Slings Transfer Slings, Toileting Slings; Usage - Reusable, Disposable; Shape - U Shape Slings, Full Body Slings; End use - Hospitals, Home Healthcare, Nursing Homes, Assisted Living Facility
Global Medical Lifting Slings Market – Prominent Driving Factors
One of the biggest driving factors for the development of the global medical lifting slings market is the rising geriatric population across the world that need these products to carry out their day to day routine.
These older people often feel difficulty in moving, walking, and at times some chronic ailments will affect their mobility. Naturally, such situations increase their dependency on medical lifting slings and have a positive impact on the overall development of the global market.
Another key factor for the growth of the global market is rising prevalence of obesity.
People suffering from lifelong ailments and disorders are also demanding high quality medical lifting slings, which as a result helping to drive the market development.
Global Medical Lifting Slings Market – Geographical Outlook
In terms of regional segmentation, the global medical lifting slings market is currently dominated by the Europe region.
The growth of the region is mainly attributed to the favorable reimbursement policies initiated by the governments along with sound technological advancements and increasing awareness and adoption of these medical slings.
North America is the next big market for these medical lifting slings whereas the regional segment of Asia Pacific is expected to showcase a highly promising rate of growth in coming years of the forecast period.
Analyze Medical Lifting Slings Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea.
Global Medical Lifting Slings Market – Key Players
Some of the prominent brands in the global medical lifting slings market are Invacare Corporation, Medical Depot, Inc. dba DeVilbiss Healthcare, Medline Industries, Inc., Bestcare, LLC, DJO Global, Arjo, Prism Medical, Handicare, Vancare, Osprey Sling Company, NAUSICAA MEDICAL, and HoverTech International among others.
Market Segmentation is as follows
Stand up Slings
U Shape Slings
Full Body Slings
By End use
Assisted Living Facility
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Home Health Care Market - There are a number of reasons why the global home healthcare market is predicted to multiply in the years to come. These are: the increase in geriatric population that find it difficult to visit hospitals as well as other diagnostic centres repeatedly, the efforts undertaken by the government for promoting home healthcare, chronic illnesses, the increasing healthcare expenditure, the growing need for reasonably priced treatments, and the technological improvements in the field of pharmaceuticals as well as medical science.
Mobility Aid Devices Market - The global mobility aid devices market is projected to reach US$ 13,826.1 Mn by 2026, expanding at a single digit CAGR during the forecast period. Increase in the geriatric population fuels the growth of the global mobility aid devices market. Population aged 65 years and above is anticipated increase rapidly in the next few years. According to the Journal of Aging Research, the geriatric population in the U.S. alone is expected to reach 87 million by 2050.
Medical Adhesives Market - Medical adhesives are chemical formulations that are used in adhering or bonding two different types of surfaces in medical procedures. Medical adhesives have been widely used in joint replacement therapies and a number of dental applications. However, they are now finding new applications in various medical procedures.
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