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Patient Lift Slings Market Overview
The rising prevalence of diseases like diabetes and cardiovascular is leading to an increase in patients who tend to give up on their body working and subsequently, end up being bed-ridden. Owing to these trends, the Patient Lift Slings Market is expected to cross USD 8900 million by 2030 at a CAGR of 11.02%. Also, post the pandemic year of 2020, the market is expected to reach a final patient lift slings market value worth USD 706 million.
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.
Patient Lift Slings Market Dynamics
DriversThe 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.RestraintsHowever, 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 AnalysisPatient 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
- To study the patient lift slings market scope based on the expansion predictions based on the market growth rate and attainable revenue by the market players during the forecast period that ends in 2028. The report considers the patient lift slings market drivers and restraints that will impact the ability of the market to move forwards and dissolve the challenges.
- To analyze the undertakings of the patient lift slings market segments that are functional in various global regions and also, understand the resource and equipment distribution of the market for enhancing the functional degree and ability of the players to contribute to the revenue income for the forecast period.
- To understand the various reasons behind the rising degree of competition amongst the global patient lift slings market players functional during the forecast period and also, consider the recent developments are undertaken that will help in predicting the potential companies and regions to grow during the forecast period that will be ending in 2028.
Patient Lift Slings Market Segment OverviewBased 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 AnalysisBased 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 LandscapeTo 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:
- ArjoHuntleigh, Inc. (Sweden)
- Prism Medical Ltd. (Canada)
- Invacare Corporation (U.S.)
- Hill-Rom Holdings Inc. (U.S.)
- Guldmann, Inc. (Denmark)
- The population belonging to the APAC region and the North American market is increasing which is leading to a rise in the geriatric population, as well. The geriatric population tends to witness various health issues and hence, requires assistance that increases the disabilities that result in the occurrence of issues. Also, the rising government support will help the market grow at a dependable rate for the forecast period that ends in 2028.
- The Health Survey for England founded that 28.7% of the adults in England in 2017 were found to be suffering from obesity and this global figure is likely to increase to a market figure of 35.6%. People who belong to 65-74 years in age have increased and hence, the demand for the market services, assistance, and products will be good during the forecast period.
- The German Federal Statistics Office (Destatis) reported that in 2016, 3,214 people lost their lives in car accidents. In Germany, the reported cases were 2.6 million, and 308,200 accidents resulted in injuries and death. The jump in traffic injuries in 2016, jumped by a figure of 0.36%, is an important factor that is likely to help the market grow and have a better stance on the international scale during the ongoing forecast period that will be ending in 2028.
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.
2030: USD 8900 million
11.02% (2020 -2030)
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By Product, Sling Shape, Sling Materials, Usage, End-User
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
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 8900 million.
Patient lift slings market has a projected CAGR of 11.02% 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.
Key Questions Answered
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