The global Medical Lifting Sling Market is anticipated to reach USD 1.7 billion by 2030, according to a new report by Grand View Research, Inc. 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.
Related Press Release @ Medical Lifting Sling Market Report
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.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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