LOS ANGELES, May 10, 2019 (GLOBE NEWSWIRE) -- The Global Medical Lifting Slings Market is estimated to grow at CAGR above 9% over the forecast time frame 2019-2026 and reach the market value around USD 1.2 billion by 2026.
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The global market will increase between 2019 and 2026 with an increase in geriatric population, an increase in disabled people, awareness of various medical lifting slings, and the availability of lifting slings in hospitals and other health facilities. Due to acceptability and an increase in demand for technologically advanced products and better reimbursement policies, the global market for medical elevators is expected to expand.
The need for aid equipment such as medical lifts is driven by an increase in the global geriatric population.
Globally, increasing geriatric populations drive the demand for medical lifts to perform their daily routines. The geriatric population is often struggling to walk or move and certain chronic diseases have an impact on their mobility, making them unable to do various activities. Their dependence on medical lifting slings therefore helps to improve their quality of life. An increase in the geriatric population calls for better treatment options, which in turn can offer companies working on the global lifting market opportunities. The geriatric population, or people over 60, is expected to double by 2050 and three times by 2100, according to the United Nations. It is projected to increase to 2.1 billion by 2050 from 962 million in 2018 to 3.1 billion by 2100. Overall, the geriatric population is increasing at an accelerated rate, compared with the younger age group population growth rate.
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The global medical lifts market is driving the growth of obesity and people with disabilities worldwide
The rise of obesity is a key driver of the market for medical lifts. According to the WHO, over 1.9 billion adults, more than 650 million of whom are obese, were overweight in 2016. Nearly 39% of adults older than 18 years were overweight and 13% were regarded as obese. Obesity in children and adolescents is prevalent; however, the disease can be prevented by action. Another factor driving demand for aided patient handling equipment worldwide is the global increase in disability. According to the WHO, 15% of the world's people are expected to be disabled, with 2% to 4% of the world's population facing major difficulties.
Development of ProMove portable medical lifting slings is an innovative approach, and offers significant opportunities to boost the market.
The development of innovative technological lifting slings is a boon for disabled individuals to improve their quality of life. Several companies investing in this new technology are expected to offer significant opportunities. These medical lifts are also useful for the geriatric population of older homes, where medical lifts are used for different activities by the geriatrical population. Portable, lightweight and easy to deploy ProMove slings. They are widely used in different age groups, sizes and weights. The ProMove portable slings offer a capacity of up to 630 pounds from children to persons with bariatric weights. These slings are also referred to as emergency evacuation liners and favor the mobility of bariatric and those with special needs in outdoor and indoor spaces.
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Regional Stance
The presence of key stakeholders in the region, the increased incidence of chronic disease, the increasing geriatric population and awareness of technological developments are key factors for Europe to become a leading market. Government rules of Europe are favourable to patients for medical lifting slings, which in turn drives the regional market. In addition, patient insurance and the widespread availability of medical lifting slings facilitate patients ' access to homecare slopes.
Key Players & Strategies
Invacare Corporation, Medline Industries, Inc., Medical Depot, Inc. dba DeVilbiss Healthcare, Bestcare, LLC, DJO Global, Arjo, Prism Medical, NAUSICAA MEDICAL, Handicare, Osprey Sling Company, Vancare, and HoverTech International are among the major players operating on the global medical lifting market. Key players focuss on procurement and collaborations in the global medical lifting slings market to improve their footprint. Companies aim to expand their footprints through the introduction of innovative patient solutions.
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