Medical Lifting Slings Market is Anticipated to Rise to US$ 910.6 Million by 2024
Added: (Thu Mar 01 2018)
Pressbox (Press Release) -
With the increasing geriatric population, the demand for medical lifting slings is rising substantially across the world. The global market for medical lifting slings is likely to gain considerably from this factor, with its valuation rising from US$391.8 mn in 2015 to US$910.6 mn by 2024, expanding at a CAGR of 9.20% during the period from 2016 to 2024. However, the lack of medical professionals with adequate expertise, the market may face tough challenge in the near future.
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This report is aimed at providing clear and detailed information about the worldwide market for medical lifting slings to consultants, stakeholders, and other participants of this market to assist them in making well thought of decisions about their businesses.
Currently, the demand for medical lifting slings is significantly high in hospitals. However, the high cost associated with advanced medical lifting slings may limit their demand in the hospital segment, especially in developing economies over the next few years. The home healthcare segment is also expected to report a tremendous rise in the demand for medical lifting slings in the near future. U-shape slings are more in demand than full body slings and are projected to remain reporting high demand over the forthcoming years. The latest trend in this market is to rent medical lifting slings among consumers, which isnít likely to die out soon.
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In terms of the region, the global market for medical lifting slings is spread across Europe, Asia Pacific, North America, the Middle East and Africa, and Latin America. Among these, Europe, with a share of more than 33%, led the global market in 2015. The increasing implementation of favorable government policies has been supporting this market in Europe since the last few years. Researchers expect the scenario to remain so in the near future, thanks to the rising expenditure of consumers advanced healthcare products.
North America, which stood second among all the regional markets for medical lifting slings in 2015 with a share of nearly 30%, is also expected to retain its position over the next few years. However, Asia Pacific is likely to emerge as the most promising regional market for medical lifting slings across the world in the years to come. Other regional markets, such as the Middle East and Africa and Latin America are also projected to witness considerable growth in their respective markets for medical lifting sling over the forthcoming years.
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The worldwide market for medical lifting slings is highly competitive and fragmented due to the presence of a large pool of participants. The key players are emphasizing more on product innovation and technological advancements to strengthen their position in the global market. Prism Medical, Invacare Corporation, Joerns Healthcare LLC, GF Health Products Inc., DJO Global, Etac AB, Drive DeVilbiss Healthcare, Bestcare, LLC, Agro Medical Inc., and ArjoHuntleigh are some of the leading players operating in the global medical lifting slings market.
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