As per MRFR Analysis, the Patient Lift Slings Market is experiencing significant growth due to the rising prevalence of chronic diseases leading to increased bed-ridden patients. Valued at USD 2.75 Billion in 2023, the market is projected to grow from USD 2.95 Billion in 2024 to USD 5.22 Billion by 2032, with a CAGR of 7.43% during the forecast period. The COVID-19 pandemic has impacted supply chains but demand is returning as normalcy resumes. The market is driven by the expansion of home healthcare services and the promotion of patient handling equipment, including lift slings. However, challenges such as slow technological adoption and varying purchasing power among consumers persist.
Key trends influencing the Patient Lift Slings Market include technological advancements and increasing demand for home healthcare services.
ArjoHuntleigh, Inc. (Sweden), Hill-Rom Holdings Inc. (U.S.), Guldmann, Inc. (Denmark), Invacare Corporation (U.S.), Prism Medical Ltd. (Canada)
Patient lift slings can be understood as mobile devices that are considered to be safe in lofting patients that are weak to move, disabled, or obese. The WHO had released and published its data regarding these devices and categorized them as vital especially for the nurses who tend to suffer from strain injuries that are a result of patient lifting. This accounts to be estimated as one-third of the annually reported injuries for the ongoing forecast period that ends in 2028.
COVID 19 Analysis of Patient Lift Slings Market
The pandemic is something that has not been witnessed or experienced before. They say that a pandemic occurs every 100 years but this is something not everyone gets to see continuously. The coronavirus has emerged as a vivid public healthcare emergency that is making the global developed nations and governments answer the doubts regarding the system failure and collapse of the public healthcare system. Also, the lack of availability of resources and equipment to meet the dire need for daily essentials has caused a shortage. The government’s main motive is to curb the explicitly high rate at which coronavirus disease and viral infection are being transferred from one individual to another and taking the way of community transmission. The need was to impose norms like social distancing and strict functional regulations and lockdown that has had an impact on the smooth running of the demand and supply chain equilibrium of the patient lift slings market during the forecast period of 2021-2028.However, the economic demands are such that there is a need for businesses, companies, and enterprises to function. Also, people are returning to normalcy as the positivity rate of the transmission is less. The demand is coming back to normal and hence, the market players are funding the research and development programs that will help in developing and launching products that will cater to the needs of the target audience on the large scale.
Drivers
The government in combination with the healthcare service providers and associations is striving to make the healthcare services available at a lower market rate. Home healthcare services are expanding at a rapid rate as the services they offer result in efficient and long-term patient care at an affordable market rate. Also, the usage of patient handling equipment is inclusive of the patient lifting slings is on promotion in these settings. Also, the emergence of home healthcare services is likely to help the patient lift slings market grow at an excellent CAGR rate during the forecast period that ends in 2028.
Restraints
However, the expansion rate and employment of technology to make the healthcare services available at a low cost are at a slow rate. Also, the target audience belongs to an array of income groups which has a substantial impact on their purchasing power and preferences as per their requirements and demands. Awareness is one of the major issues that is being faced by the market and the less availability of products and home healthcare services to meet the needs of people who are in dire need of the same during the forecast period that ends in 2028.
Technology Analysis
Patient lifting and transfers are being understood and recognized as one of the primary applications of the global market products and services that show signs of domination over other segments during the ongoing forecast period of 2021-2028. Universal slings that are available in the market with multiple utilities are gaining a lot of momentum and hence, the demand is expected to rise at a good rate by the end of the forecast period. Slings are being categorized as reusable and disposable products that are a result of advancements in the technology employed. Disposable choices are emerging as a preferred choice of most of the consumers and amongst the healthcare professionals, as well.
Patient Lift Slings Market Study Objectives
Patient Lift Slings Market Segment Overview
Based on the bifurcation of the resources and various kinds of equipment of the patient lift slings market in the global scenario, the market segments will help in catering to the vibrant needs of the target audience. The market has been segmented based on the following:Based on the type:The type segment of the patient lift slings market includes 2 points, 4 points, and 6 points.Based on the applications:The patient lift slings market applications are inclusive of hospitals, healthcare centers and services, nursing homes, and other public care centers and units.Based on the regions covered:The patient lift slings market is prevalent in 5 major regions namely North America, Europe, the APAC region, Latin America, and the Middle East and Africa.
Patient Lift Slings Market Regional Analysis
Based on the global functioning of the patient lift slings market, the North American region is expected to grow at the maximum CAGR rate during the forecast period that ends in 2028. One of the major reasons because of which the market will experience a double-digit growth is the rise of prevalence of skilled medical professionals and the rising income of people that is putting them in a position to enhance their purchasing power and employ the best quality of market products, services, and service providers that will lead the patient lift slings market to grow at the maximArjoHuntleigh, Inc. (Sweden), Hill-Rom Holdings Inc. (U.S.), Guldmann, Inc. (Denmark), Invacare Corporation (U.S.) and Prism Medical Ltd. (Canada)um scale during the period.
Competitive Landscape
To help the patient lift slings market buyers and investors understand the rising degree of competition in the global market scenario, it is important to have a look at the prominent market players. They are as follows:
Recent Developments
Patient Lift Slings Market Report Overview
The report details a pinpoint analysis of the market functions as a whole and by dividing the market segments based on their availability in various global regions. The market report helps in understanding the recent developments undertaken during the period that promise growth of the market segments and the global market players in both the domestic and the international market.
| Report Attribute/Metric | Details |
| Market Size 2023 | 2.75 (USD Billion) |
| Market Size 2024 | 2.95 (USD Billion) |
| Market Size 2032 | 5.22 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 7.43 % (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | ArjoHuntleigh, Inc. (Sweden), Prism Medical Ltd. (Canada), Invacare Corporation (U.S.), Hill-Rom Holdings Inc. (U.S.), Guldmann, Inc. (Denmark) |
| Key Market Opportunities | Increasing research & development investments by industry players |
| Key Market Drivers | · Expansion of Home healthcare services · Usage of patient handling equipment |
Frequently Asked Questions (FAQ):
The projected valuation of patient lift slings market would be USD 5.22 Billion.
Patient lift slings market has a projected CAGR of 7.43% during the forecast period.
The bariatric slings segment would lead patient lift slings market.
The U-shape segment would helm patient lift slings market.
The nylon segment would dominate patient lift slings market.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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