Medical Lifting Sling Market Is Anticipated To Witness Significant Growth Prospects With Rising CAGR By 2030Posted by Mrudula Anil Karmarkar on May 23rd, 2023 The global medical lifting sling market size is anticipated to reach USD 1.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.5% from 2022 to 2030. Expanding geriatric and disabled population coupled with rising need for home healthcare products are propelling the market growth. Geriatric population forms the target population for this market. This demographic is highly susceptible to age-related disorders that in certain cases causes immobility. Moreover, the advent of long-term care centers and elderly care centers is creating growth opportunities for market players. The outbreak of COVID-19 in the year 2020 has positively impacted the medical lifting sling market growth. Increased number of COVID-19 cases and high demand for ventilator support, surged the importance of having supporting aids during the entire stay in hospital. In addition, WHO published the guidance for using disposable medical lifting slings and other equipment, regarding the management of COVID-19 patients. These factors are anticipated to create huge growth opportunities for market players over the forecast period. Moreover, the prevalence of disabilities is also boosting the demand for the slings. As per the data published by WHO, around 15% of the world’s population lives with some form of disability. Out of those some 2% to 4% population experience difficulties in functioning. Old people of 80 years or above are about eight times more likely to have a disability. As per the data published by the U.S. Census Bureau, around 19.9 million people had difficulty in lifting and grasping. All these factors are positively influencing the need for assistive devices like medical lifting slings to obtain mobility. The increasing incidence of chronic disorders requiring long-term patient care is projected to boost the usage of medical lifting slings. Demand for medical lifting slings market is increasing due to the increasing geriatric population along with the increasing number of physically disabled people. In addition, the outbreak of COVID-19 in the year 2020 has positively impacted the medical lifting sling market growth. The health results of people with severe COVID-19 are improved by rehabilitation. COVID-19 patients are at significant risk of long-term damage and disability and will require supporting aids and other assisted devices during their entire stay in the hospital. Various market participants are working hard to meet the need for assistive devices in hospital beds, walkers, wheelchairs, crutches, commode chairs, patient lifts, slings, etc. for rehabilitation. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/medical-lifting-sling-market/request/rs1 These factors are anticipated to create huge growth opportunities for market players during the forecast period. Aging heightens the susceptibility of an individual to developing target diseases, such as rheumatoid arthritis, and osteoporosis. For instance, as per the Arthritis Society, About 6 million Canadians (1 in 5 adults) have arthritis, by 2036, this number is expected to grow to an estimated 9 million by 2040, (1 in 5 today to 1 in 4 in 2040). The elderly population is also more susceptible to chronic conditions such as diabetes, cardiovascular disorders, and other lifestyle-associated disorders, which is expected to propel the growth of the market. As per the CDC, in 2016, there are over 49 million people in the U.S. aged 65 years & above, representing 15% of the population and this number is anticipated to reach 71 million by 2030 and 98 million by 2060. As per the Population Reference Bureau fact sheet, the number of people in the U.S. aged 65 and above is expected to nearly double from 52 million in 2018 to 95 million by 2060 (a rise from 16% to 23%). Consequently, the expanding geriatric population base is expected to broaden the patient pool for manufacturers of medical lifting slings. In addition, aging demographics have created the demand for long-term care centers, and old-age homes, in turn, which drives the need for medical lifting slings. Medical Lifting Sling Market Report Highlights
Furthermore, the increasing number of obese people is also anticipated to boost the medical lifting sling market growth. Bariatric slings are specifically designed to handle obese patients. The incidence of obesity has increased significantly in the past few years, especially among the aged groups, which augments the difficulty of handling and moving obese patients. As per the report published by the CDC in 2020, the rates of obesity rose considerably among adults from 33.7% to 39.6% between the years 2015 & 2016 and 2022 & 2020. During this time the rates of severe obesity also increased from 5.7% to 7.7%. Germany is the world’s third largest provider of medical technology products, following the U.S. and Japan. In addition, continuous investment in research and innovation by medical device manufacturers in Germany is expected to contribute significantly to the European medical lifting slings market. For instance, approximately 1,200 companies are active in the medical technology sector and invest around nine percent of their turnover in R&D. Strong cooperation between equipment manufacturers and R&D institutes in Germany assists in maintaining an internationally unparalleled competitive edge. Germany has more than 11,000 medical device manufacturers and is home to more than 30 specialized cluster networks for continuous innovation in R&D along with manufacturing by linking companies, universities, hospitals, and other research institutes. List of Key Players of Medical Lifting Sling Market
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