Global Medical Lifting Sling Industry
Medical lifting sling market has gained immense prominence over the past few years. Rising number of disabled and geriatric population across the globe and increasing cases of amputees have contributed to the market growth on a global scale. Soaring cases of lifestyle oriented diseases like CHD, CVD, bariatric, cancer, and obesity are expected to foster the market growth in the estimated timeframe. High adoption rate of medical lifting slings from end users are likely to foster the demand from the market.
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Technological advancements and notable developments made in R&D are likely to propel the market growth in the foreseeable future. Easy availability of resources and favorable policies by the government are some of the chief factors augmenting the market growth in the coming years. Latest product launch by the key manufacturers, partnerships, and key strategies adopted by the players are likely to benefit the overall market growth in the long run. A certain percentage of the elderly population base suffers from non-contagious diseases and mobility-related disorders. Thus, with the rising geriatric population base, the market is likely to gain a thrust.
Conversely, high cost of these devices and strict regulations are likely to act as a barrier for the growth of the market.
The global medical lifting sling market has been segmented on the basis of material, product, type, and end user.
By product, the market is segmented into toileting sling, bariatric sling, transfer sling, hammock sling, standing sling, universal sling, and seating sling. Of these, the seating sling segment is estimated to dominate the market as they long seating and specialized slings features.
Based on material, the market is segregated into padded sling, mesh sling, nylon sling, canvas sling, and others.
By type, the market comprises reusable sling and disposable sling. Of these, the reusable slings are likely to command the largest share as they offer better healthcare facilities and options to their patients.
The end user segment constitutes of hospitals sling, homecare sling, elderly facilities sling, and others. Of these, the hospital slings are likely to gain prominence due to easy availability of these devices in hospitals and efficient utilization of these devices.
Geographically, the medical lifting sling market spans across Asia Pacific, Europe, North America, and the Rest of the World (RoW).
Considering the global scenario, North America is estimated to be the highest revenue generating region and the growth is mainly credited to the extensive adoption of medical lifting sling products by end users like home healthcare and hospitals.
Untapped regions in the APAC like India, China, Korea, and Japan are considered the emerging countries estimated to generate immense growth opportunities for the overall market. Moreover, enhanced infrastructure development, improved healthcare spending, and favorable policies by the government are encouraging the market growth. These factors have made APAC an emerging region with significant growth opportunities for the stakeholders.
June 2019: One of the leaders in the accessibility industry, Savaria Corporation has recently declared that the company has signed an agreement with the owners of Silvalea Ltd. and also its sister company D-ansermed Ltd.
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