Increasing Government Initiatives to Offer Better Healthcare Services to Fuel Growth of Medical Lifting Slings Market
A patient lifting sling refers to an assistive device that assists patients in nursing homes and hospitals to be transferred between a chair and a bed or a similar resting place with the help of hydraulics. Medical lifting slings are used widely for patients whose mobility is limited. Apart from transferring, the sling lifts help in reducing the chance of orthopedic injury caused while lifting patients. Patient care mostly requires lifting or providing the means to perform movements to do day to day activities including toileting, walking, and bathing. Such tasks comprise handling of patients who are in a fragile condition. As a result, lifting patients becomes more risky and complicated. In addition, patients and residents may also have psychological, medical, or other related conditions, which can complicate manual lifting processes.
Global Medical Lifting Slings Market to Register 7.80% CAGR from 2015 to 2023
The major factors that are fueling the growth of the global market for medical lifting slings include the now-aging baby boomer population, rental provisions for medical lifting sling devices that help in providing these products amongst lower-income groups, care provider safety, and legislations supporting safe patient handling and mobility. In addition, the rising government as well as private initiatives for the rights of the disabled and the elderly to offer improved health care services are also propelling the market for medical lifting slings.
According to a study presented by Transparency Market Research, in 2014, the global market for medical lifting slings was worth US$312 mn and is estimated to reach a value of US$632.8 mn by the end of 2023. The market is projected to exhibit a progressive 7.80% CAGR between 2015 and 2023.
Universal Lifting Slings Segment Led Global Medical Lifting Slings Market in 2014
On the other hand, the absence of technical expertise and training provisions in developing economies is expected to hamper the growth of the global medical lifting sling market in the next few years. The global market for medical lifting slings can be divided on the basis of product into:
- Bariatric Sling
- Universal Sling
- Hammock Sling
- Seating Sling
- Toileting Sling
- Stander Sling
- Transfer Sling
The others segment is sub-divided into tri-turner slings, bath, pool, and spa lifting slings, and pediatric slings. In 2014, the universal sling segment witnessed the highest growth rate and is expected to remain in the leading position in the coming years. The high growth of this segment can be attributed to its several beneficial features such as the ability to provide back and neck support, high comfort, and several applications including transferring a patient from a bed to chair, or from floor to bed, or chair to chair, and others. Bariatric slings hold the second position in the overall market owing to the growing prevalence of obesity across the globe.
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The major players operating in the global market for medical lifting slings include GF Health Products, Inc., Joerns Healthcare, LLC, Argo Medical Inc., Etac AB, DJO Global, Invacare Corporation, Prism Medical, Bestcare, LLC, ArjoHuntleigh, and Drive DeVilbiss Healthcare.