Medical Lifting Slings Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Medical Lifting Slings market in 2021?

The global medical lifting slings market is estimated to have reached a market size of USD 1.5 billion in 2021, with a compound annual growth rate (CAGR) of 6.5% from 2021 to 2028. The market is expected to continue its growth trajectory and reach USD 2.3 billion by 2028.

COVID-19 Impact on the Medical Lifting Slings Market

The medical lifting slings market was significantly impacted by the COVID-19 pandemic in 2020 and 2021. The pandemic led to disruptions in the supply chain and manufacturing processes, causing delays in product delivery and increased costs for market players. However, the increased focus on healthcare infrastructure and the rising number of elderly populations worldwide have created new opportunities for growth in the medical lifting slings market post-pandemic.

Medical Lifting Slings Dynamics

The medical lifting slings market is driven by factors such as the growing geriatric population, increasing incidences of disabilities, and rising demand for home healthcare services. Technological advancements in medical lifting slings, such as the development of electric-powered slings and ergonomic designs, are also contributing to market growth. However, factors like product recalls, stringent regulations, and competition from alternative devices may hinder market growth.

Segments and Related Analysis

The medical lifting slings market can be segmented based on product type, material type, end-user, and region. Product types include bariatric slings, stand assist slings, hammock slings, transfer slings, and others. Material types can include nylon, mesh, padded, and others. End-users of medical lifting slings include hospitals, nursing homes, home healthcare, and others.

By Region Analysis

The medical lifting slings market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America currently holds the largest market share due to the presence of advanced healthcare infrastructure and a high prevalence of disabilities in the region. Europe follows closely behind, with Asia Pacific showing significant growth potential.

Key Market Players and Competitive Landscape

Some of the key players in the medical lifting slings market include Arjo, Invacare Corporation, Joerns Healthcare, Prism Medical, Guldmann Inc., DJO Global, Mangar Health, and Etac AB. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position and expand their product offerings.

Recent Happenings in the Medical Lifting Slings Market

In recent developments, Arjo, a leading player in the medical lifting slings market, announced the launch of a new line of ergonomic slings designed to improve patient comfort and safety. Invacare Corporation also introduced a range of bariatric slings with enhanced weight capacity and durability. These developments reflect the ongoing efforts of market players to meet the evolving needs of healthcare providers and patients in the medical lifting slings market.