Medical Lifting Sling Market Major Drivers And Trends By 2030

Medical Lifting Sling Industry Overview

The global medical lifting sling market size was valued at USD 814.8 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030.

The increasing incidence of chronic disorders requiring long-term patient care is projected to boost the usage of medical lifting slings. Demand for medical lifting slings market is increasing due to the increasing geriatric population along with the increasing number of physically disabled people. In addition, the outbreak of COVID-19 in the year 2020 has positively impacted the medical lifting sling market growth. The health results of people with severe COVID-19 are improved by rehabilitation. COVID-19 patients are at significant risk of long-term damage and disability and will require supporting aids and other assisted devices during their entire stay in the hospital. Various market participants are working hard to meet the need for assistive devices in hospital beds, walkers, wheelchairs, crutches, commode chairs, patient lifts, slings, etc. for rehabilitation.

Gather more insights about the market drivers, restrains and growth of the Global Medical Lifting Sling Market

These factors are anticipated to create huge growth opportunities for market players during the forecast period. Aging heightens the susceptibility of an individual to developing target diseases, such as rheumatoid arthritis, and osteoporosis. For instance, as per the Arthritis Society, About 6 million Canadians (1 in 5 adults) have arthritis, by 2036, this number is expected to grow to an estimated 9 million by 2040, (1 in 5 today to 1 in 4 in 2040). The elderly population is also more susceptible to chronic conditions such as diabetes, cardiovascular disorders, and other lifestyle-associated disorders, which is expected to propel the growth of the market. As per the CDC, in 2016, there are over 49 million people in the U.S. aged 65 years & above, representing 15% of the population and this number is anticipated to reach 71 million by 2030 and 98 million by 2060. As per the Population Reference Bureau fact sheet, the number of people in the U.S. aged 65 and above is expected to nearly double from 52 million in 2018 to 95 million by 2060 (a rise from 16% to 23%). Consequently, the expanding geriatric population base is expected to broaden the patient pool for manufacturers of medical lifting slings. In addition, aging demographics have created the demand for long-term care centers, and old-age homes, in turn, which drives the need for medical lifting slings.

Furthermore, the increasing number of obese people is also anticipated to boost the medical lifting sling market growth. Bariatric slings are specifically designed to handle obese patients. The incidence of obesity has increased significantly in the past few years, especially among the aged groups, which augments the difficulty of handling and moving obese patients. As per the report published by the CDC in 2020, the rates of obesity rose considerably among adults from 33.7% to 39.6% between the years 2015 & 2016 and 2019 & 2020. During this time the rates of severe obesity also increased from 5.7% to 7.7%.

Germany is the world’s third largest provider of medical technology products, following the U.S. and Japan. In addition, continuous investment in research and innovation by medical device manufacturers in Germany is expected to contribute significantly to the European medical lifting slings market. For instance, approximately 1,200 companies are active in the medical technology sector and invest around nine percent of their turnover in R&D. Strong cooperation between equipment manufacturers and R&D institutes in Germany assists in maintaining an internationally unparalleled competitive edge. Germany has more than 11,000 medical device manufacturers and is home to more than 30 specialized cluster networks for continuous innovation in R&D along with manufacturing by linking companies, universities, hospitals, and other research institutes.

Moreover, growing healthcare expenditure levels is a key concern, with patients and the government constantly striving to curb these costs. With an ever-increasing prevalence of diseases and the baby boomer population, healthcare expenditure levels are expected to continue growing during the forecast period. The growth of home healthcare as a cost-effective alternative to expensive hospital stays is expected to serve this market as a high-impact rendering driver throughout the forecast period.

Browse through Grand View Research's Medical Devices Industry Research Reports.

• Specialty Medical Chairs Market - The global specialty medical chairs market size was valued at USD 3.92 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% during the forecast period.
• Pediatric Wheelchair Market - The global pediatric wheelchair market size was valued at USD 1.85 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2030.

Market Share Insights

• December 2021: Baxter International, Inc., a global medical technology company, acquired Hill-Rom to create new opportunities for innovation, which will help reduce costs and improve care outcomes across the board.

Key Companies profiled:

Some prominent players in the global medical lifting sling market include

• ArjoHuntleigh
• Invacare Corporation
• Hill-Rom (Baxter)
• Joerns Healthcare LLC
• Argo Medical, Inc.
• Prism Medical
• DJO Global
• Guldmann A/S
• Spectra Care Group
• Drive Medical Inc.

Order a free sample PDF of the Medical Lifting Sling Market Intelligence Study, published by Grand View Research.