Medical Lifting Sling Market Size, Share & Trends Analysis Report By Product (Nylon, Padded), By Application (Transfer Slings, Universal Slings), By Usage, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the medical lifting sling market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for medical lifting sling market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of medical lifting sling market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Medical Lifting Sling Market Categorization:

The medical lifting sling market was categorized into five segments, namely product (Nylon Slings, Padded Slings, Mesh Slings, Canvas Slings), application (Transfer Slings, Universal Slings, Hammock Slings, Standing Slings, Seating Slings, Toileting Slings, Bariatric Slings), usage (Reusable Slings, Disposable Slings), end-use (Hospital, Homecare, Elderly Care), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The medical lifting sling market was segmented into product, application, usage, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The medical lifting sling market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-five countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; UAE; Egypt; South Africa; and Nigeria.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Medical lifting sling market companies & financials:

The medical lifting sling market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• ArjoHuntleigh: ArjoHuntleigh is a subsidiary of Getinge Group and as of 2014, it had an employee base of over 5,500 employees globally. In the patient transfers segment, the company provides products such as ceiling lifts, standing and raising aids, passive floor lifts, slings, and lateral patient transfer solutions. The company’s key business areas include patient transfer solutions, vascular therapy, therapeutic support systems, couches, medical beds, disinfection, hygiene systems, and diagnostics. Moreover, the company also offers services including assessment services, rentals, technical services, and architectural services.

• Hill-Rom: The company is headquartered in the U.S., and is a manufacturer and provider of healthcare technologies and medical services for the industry. The company offers information technology solutions, surgical products, medical equipment rentals, and noninvasive therapeutic products for a variety of chronic and acute medical conditions, safe mobility and handling, and patient care systems. The company has a wide range of product & service offerings that are used in hospitals, home care settings, and extended care facilities.

• Invacare Corporation: The company has its core competencies in long-term care medical products and home care medical products to promote recovery and an active lifestyle. The company is a distributor and manufacturer of nonacute medical equipment and respiratory products. The company has a distribution network in 80 locations across the globe and has over 6000 employees. Various acquisitions and product development initiatives have boosted the market share of this company. It achieved high acclaim in the market for launching a motorized wheelchair with computerized controls.

• Joerns Healthcare, LLC: The company is engaged in the manufacture of patient handling & wound care products and provides post-acute care services. The company operates in the following business segments: acute care, home care, long-term acute care, long-term care, VA/Government, and hospice care. The company manufactures patient-handling products, healthcare beds, and therapeutic surfaces, and supplies negative pressure wound therapy devices and Durable Medical Equipment (DME).

• Argo Medical: The manufactures and offers products such as patient lift systems, sterilizers, scrub systems & clean stations, storage cabinets, warming cabinets, washer disinfectors, booms (central mount, tandem mount, lightweight utility arm, and anesthesia tether), displays, and lights. The company also offers various services such as equipment service & maintenance services and project services. Equipment service and maintenance services include preventive maintenance programs, loaner & rental equipment, refurbished equipment, and emergency repair services.

• Prism Medical, Inc.: The company is engaged in the manufacture of durable medical equipment (DME) or safe patient handling equipment that finds applications in hospitals, home care, long-term care, and other medical emergencies. The product portfolio includes transfer slings, lifts & transport chairs, home medical equipment, repositioning aids, and patient bathing systems.

• DJO Global: DJO Global is a medical device company established in the U.S. and was founded in 1978. The company develops, manufactures, and distributes medical devices for musculoskeletal health, vascular health, and pain management. The product portfolio of the company includes postoperative and rehabilitative support braces, continuous pain management systems, cold therapy treatment systems, electromyography biofeedback devices, rigid knee braces, soft goods, and surgical products.

• V. Guldmann A/S: The company manufactures and markets products such as slings, ceiling hoists, mobile lifters, and lifting accessories. The company offers products in three segments that include Guldmann, Stepless, and Guldmann Consulting. The company offers various lifting and handling equipment to lift & transfer amputees or patients with disabilities. The Guldmann segment offers products such as ceiling hoist systems, mobile lifters, slings, and lifting accessories. The company also offers services such as education, CareLift Management, financing, and eRMA.

• Spectra Care Group: It is a group of companies (Care & Independence Systems Ltd., Aid Service Ltd., Caledonian Care Systems Ltd., and Southern Care Systems Ltd.), that designs, manufactures, and supplies disability equipment such as slings, ceiling hoists, showering and bathing products across the UK. Specifically, Care & Independence Systems Ltd. The company is engaged in manufacturing slings and disposable slings, and providing services throughout the South Midlands and London. The company offers slings mainly in three categories such as lifetime glove slings, comfort value slings, and disposable slings.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Medical Lifting Sling Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Medical Lifting Sling Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.