Patient Lift Slings Market Size 2031 | Drivers and Trends
The Patient Lift Slings Market is expected to register a CAGR of 6.7% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product (Bariatric Slings, Seating Slings, Stand up Slings, Transfer Slings, Universal Slings, Hammock Slings Toileting Slings, Others) ; Usage (Reusable, Disposable) ; Sling Shape (U Shape Slings, Full Body Slings) ; Material (Canvas, Padded, Nylon, Mesh, Others) ; End User (Hospitals, Home Healthcare, Nursing Homes, Elderly Care Assisted Living Facility, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Patient Lift Slings Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Patient Lift Slings Market Segmentation
Product- Bariatric Slings
- Seating Slings
- Stand up Slings
- Transfer Slings
- Universal Slings
- Hammock Slings Toileting Slings
- Others
- Reusable
- Disposable
- U Shape Slings
- Full Body Slings
- Canvas
- Padded
- Nylon
- Mesh
- Others
- Canvas
- Padded
- Nylon
- Mesh
- Others
Strategic Insights
Patient Lift Slings Market Growth Drivers- Aging Population: The world at large is witnessing a substantial rise in the aging population, which essentially drives the market for patient lift slings. Older adults often face mobility issues, and the demand for solutions that enable safe transfer and comfort is growing. Patient lift slings are a vitally important support system in home care and healthcare facilities, ensuring that caregivers can assist patients safely and efficiently.
- Technological Advances: New and advanced knowledge of material science and design enables the creation of slings for increased utilization and durability. Innovative slings that are incorporated with sensors and weight distribution technology enhance the safety and usability of slings for better attraction by healthcare providers who care about improving patient care. Advances both achieve effectiveness in transferring and minimize the risks of injury both to the patient and the caregiver.
- Patient safety awareness: The growing concern about patient safety and ergonomic practices in the healthcare sector has increased the demand for patient lift slings. Healthcare facilities continue to adopt safe patient-handling policies to reduce falls and injury rates. It also encourages investment in quality lifting equipment, which drives the market for patient lift slings.
- Growing Demand for Customization: One of the significant emerging trends in the patient lift slings market is that patients are now seeking individually customized slings to address their needs in terms of their mobility level and actual body structure. For example, some patients can not settle on using one-size-fits-all slings, which happens to be different for each patient. Such a trend where patients are seeking individualized slings maximizes comfort and enhances safety, leading to better care outcomes.
- Integration of Smart Technology: Smart technology integration into patient lift slings is revolutionizing the market scene. Incorporating weight sensors and monitoring systems that will give real-time data in relation to the transfer is being done. The innovations ensure better safety for patients with reduced opportunity for injury, while caregivers track and plan to relate the trends to have proper management of the patient.
- Increased Focus on Ergonomics: In the market of patient lift slings, ergonomic designs are in high demand. There is a growing need for manufacturers to provide slings that will reduce the strain on caregivers and maximize the comfort of the patient as it becomes more pressing to realize the amount of the physical burden placed on healthcare workers and the need to make working environments safer, thereby promoting proper care of patients with fewer injuries of staff members.
- Growth in Emerging Markets: There is much scope for growth in emerging markets for patient lift slings. With better healthcare infrastructure and awareness of patient safety across the Asian-Pacific and Latin American regions, the demand for highly advanced medical equipment is growing. Manufacturers can foresee this requirement and penetrate local markets by offering more affordable yet quality slings tailored to local needs for a more significant market presence.
- Development of Eco-Friendly Materials: Manufacturers have an excellent opportunity to innovate through the development of patient lift slings made from eco-friendly materials. As sustainability is becoming a milestone in healthcare, slings utilizing biodegradable or recyclable material will attract environmentally conscious consumers and healthcare facilities. This meeting of regulatory demands will, therefore, benefit the brand's reputation by allowing the company to be positioned as a company of leaders in sustainable healthcare solutions.
- Telehealth Services Integration: The latest emerging opportunity for patient lift slings is telehealth services. As telehealth catches on with more and more organizations embracing remote monitoring and virtual consultations, the integration of patient lift slings with platforms related to telehealth can become a practical support to patient care. For instance, telehealth applications might guide caregivers on real-time, safe lifting techniques, thereby ensuring the safety of the patient, upgrading their confidence, and boosting demand for innovative lifting solutions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Patient Lift Slings Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Patient Lift Slings Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Bariatric Slings segment accounts for highest revenue in product the Patient Lift Slings Market market in 2023
Asia Pacific region dominated the Patient Lift Slings Market in 2023
The Patient Lift Slings Market is estimated to witness a CAGR of 6.7% from 2023 to 2031
The major factors driving the Patient Lift Slings Market are:
1. Aging Population
2. Technological Advances
3. Patient safety awareness
North America region dominated the Patient Lift Slings Market in 2023
Invacare Corporation, DJO Global, Prism Medical, Medline Industries Inc accounting for higesh market shares and are some of the major players operating in the market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Patient Lift Slings Market - By Product
1.3.2 Patient Lift Slings Market - By Usage
1.3.3 Patient Lift Slings Market - By Sling Shape
1.3.4 Patient Lift Slings Market - By Material
1.3.5 Patient Lift Slings Market - By End User
1.3.6 Patient Lift Slings Market - By Region
1.3.6.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PATIENT LIFT SLINGS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. PATIENT LIFT SLINGS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. PATIENT LIFT SLINGS MARKET - GLOBAL MARKET ANALYSIS
6.1. PATIENT LIFT SLINGS - GLOBAL MARKET OVERVIEW
6.2. PATIENT LIFT SLINGS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PATIENT LIFT SLINGS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. BARIATRIC SLINGS
7.3.1. Overview
7.3.2. Bariatric Slings Market Forecast and Analysis
7.4. SEATING SLINGS
7.4.1. Overview
7.4.2. Seating Slings Market Forecast and Analysis
7.5. STAND UP SLINGS
7.5.1. Overview
7.5.2. Stand up Slings Market Forecast and Analysis
7.6. TRANSFER SLINGS
7.6.1. Overview
7.6.2. Transfer Slings Market Forecast and Analysis
7.7. UNIVERSAL SLINGS
7.7.1. Overview
7.7.2. Universal Slings Market Forecast and Analysis
7.8. HAMMOCK SLINGS TOILETING SLINGS
7.8.1. Overview
7.8.2. Hammock Slings Toileting Slings Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. PATIENT LIFT SLINGS MARKET - REVENUE AND FORECASTS TO 2028 - USAGE
8.1. OVERVIEW
8.2. USAGE MARKET FORECASTS AND ANALYSIS
8.3. REUSABLE
8.3.1. Overview
8.3.2. Reusable Market Forecast and Analysis
8.4. DISPOSABLE
8.4.1. Overview
8.4.2. Disposable Market Forecast and Analysis
9. PATIENT LIFT SLINGS MARKET - REVENUE AND FORECASTS TO 2028 - SLING SHAPE
9.1. OVERVIEW
9.2. SLING SHAPE MARKET FORECASTS AND ANALYSIS
9.3. U SHAPE SLINGS
9.3.1. Overview
9.3.2. U Shape Slings Market Forecast and Analysis
9.4. FULL BODY SLINGS
9.4.1. Overview
9.4.2. Full Body Slings Market Forecast and Analysis
10. PATIENT LIFT SLINGS MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
10.1. OVERVIEW
10.2. MATERIAL MARKET FORECASTS AND ANALYSIS
10.3. CANVAS
10.3.1. Overview
10.3.2. Canvas Market Forecast and Analysis
10.4. PADDED
10.4.1. Overview
10.4.2. Padded Market Forecast and Analysis
10.5. NYLON
10.5.1. Overview
10.5.2. Nylon Market Forecast and Analysis
10.6. MESH
10.6.1. Overview
10.6.2. Mesh Market Forecast and Analysis
10.7. OTHERS
10.7.1. Overview
10.7.2. Others Market Forecast and Analysis
11. PATIENT LIFT SLINGS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
11.1. OVERVIEW
11.2. END USER MARKET FORECASTS AND ANALYSIS
11.3. HOSPITALS
11.3.1. Overview
11.3.2. Hospitals Market Forecast and Analysis
11.4. HOME HEALTHCARE
11.4.1. Overview
11.4.2. Home Healthcare Market Forecast and Analysis
11.5. NURSING HOMES
11.5.1. Overview
11.5.2. Nursing Homes Market Forecast and Analysis
11.6. ELDERLY CARE ASSISTED LIVING FACILITY
11.6.1. Overview
11.6.2. Elderly Care Assisted Living Facility Market Forecast and Analysis
11.7. OTHERS
11.7.1. Overview
11.7.2. Others Market Forecast and Analysis
12. PATIENT LIFT SLINGS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
12.1. NORTH AMERICA
12.1.1 North America Patient Lift Slings Market Overview
12.1.2 North America Patient Lift Slings Market Forecasts and Analysis
12.1.3 North America Patient Lift Slings Market Forecasts and Analysis - By Product
12.1.4 North America Patient Lift Slings Market Forecasts and Analysis - By Usage
12.1.5 North America Patient Lift Slings Market Forecasts and Analysis - By Sling Shape
12.1.6 North America Patient Lift Slings Market Forecasts and Analysis - By Material
12.1.7 North America Patient Lift Slings Market Forecasts and Analysis - By End User
12.1.8 North America Patient Lift Slings Market Forecasts and Analysis - By Countries
12.1.8.1 United States Patient Lift Slings Market
12.1.8.1.1 United States Patient Lift Slings Market by Product
12.1.8.1.2 United States Patient Lift Slings Market by Usage
12.1.8.1.3 United States Patient Lift Slings Market by Sling Shape
12.1.8.1.4 United States Patient Lift Slings Market by Material
12.1.8.1.5 United States Patient Lift Slings Market by End User
12.1.8.2 Canada Patient Lift Slings Market
12.1.8.2.1 Canada Patient Lift Slings Market by Product
12.1.8.2.2 Canada Patient Lift Slings Market by Usage
12.1.8.2.3 Canada Patient Lift Slings Market by Sling Shape
12.1.8.2.4 Canada Patient Lift Slings Market by Material
12.1.8.2.5 Canada Patient Lift Slings Market by End User
12.1.8.3 Mexico Patient Lift Slings Market
12.1.8.3.1 Mexico Patient Lift Slings Market by Product
12.1.8.3.2 Mexico Patient Lift Slings Market by Usage
12.1.8.3.3 Mexico Patient Lift Slings Market by Sling Shape
12.1.8.3.4 Mexico Patient Lift Slings Market by Material
12.1.8.3.5 Mexico Patient Lift Slings Market by End User
12.2. EUROPE
12.2.1 Europe Patient Lift Slings Market Overview
12.2.2 Europe Patient Lift Slings Market Forecasts and Analysis
12.2.3 Europe Patient Lift Slings Market Forecasts and Analysis - By Product
12.2.4 Europe Patient Lift Slings Market Forecasts and Analysis - By Usage
12.2.5 Europe Patient Lift Slings Market Forecasts and Analysis - By Sling Shape
12.2.6 Europe Patient Lift Slings Market Forecasts and Analysis - By Material
12.2.7 Europe Patient Lift Slings Market Forecasts and Analysis - By End User
12.2.8 Europe Patient Lift Slings Market Forecasts and Analysis - By Countries
12.2.8.1 Germany Patient Lift Slings Market
12.2.8.1.1 Germany Patient Lift Slings Market by Product
12.2.8.1.2 Germany Patient Lift Slings Market by Usage
12.2.8.1.3 Germany Patient Lift Slings Market by Sling Shape
12.2.8.1.4 Germany Patient Lift Slings Market by Material
12.2.8.1.5 Germany Patient Lift Slings Market by End User
12.2.8.2 France Patient Lift Slings Market
12.2.8.2.1 France Patient Lift Slings Market by Product
12.2.8.2.2 France Patient Lift Slings Market by Usage
12.2.8.2.3 France Patient Lift Slings Market by Sling Shape
12.2.8.2.4 France Patient Lift Slings Market by Material
12.2.8.2.5 France Patient Lift Slings Market by End User
12.2.8.3 Italy Patient Lift Slings Market
12.2.8.3.1 Italy Patient Lift Slings Market by Product
12.2.8.3.2 Italy Patient Lift Slings Market by Usage
12.2.8.3.3 Italy Patient Lift Slings Market by Sling Shape
12.2.8.3.4 Italy Patient Lift Slings Market by Material
12.2.8.3.5 Italy Patient Lift Slings Market by End User
12.2.8.4 Spain Patient Lift Slings Market
12.2.8.4.1 Spain Patient Lift Slings Market by Product
12.2.8.4.2 Spain Patient Lift Slings Market by Usage
12.2.8.4.3 Spain Patient Lift Slings Market by Sling Shape
12.2.8.4.4 Spain Patient Lift Slings Market by Material
12.2.8.4.5 Spain Patient Lift Slings Market by End User
12.2.8.5 United Kingdom Patient Lift Slings Market
12.2.8.5.1 United Kingdom Patient Lift Slings Market by Product
12.2.8.5.2 United Kingdom Patient Lift Slings Market by Usage
12.2.8.5.3 United Kingdom Patient Lift Slings Market by Sling Shape
12.2.8.5.4 United Kingdom Patient Lift Slings Market by Material
12.2.8.5.5 United Kingdom Patient Lift Slings Market by End User
12.3. ASIA-PACIFIC
12.3.1 Asia-Pacific Patient Lift Slings Market Overview
12.3.2 Asia-Pacific Patient Lift Slings Market Forecasts and Analysis
12.3.3 Asia-Pacific Patient Lift Slings Market Forecasts and Analysis - By Product
12.3.4 Asia-Pacific Patient Lift Slings Market Forecasts and Analysis - By Usage
12.3.5 Asia-Pacific Patient Lift Slings Market Forecasts and Analysis - By Sling Shape
12.3.6 Asia-Pacific Patient Lift Slings Market Forecasts and Analysis - By Material
12.3.7 Asia-Pacific Patient Lift Slings Market Forecasts and Analysis - By End User
12.3.8 Asia-Pacific Patient Lift Slings Market Forecasts and Analysis - By Countries
12.3.8.1 Australia Patient Lift Slings Market
12.3.8.1.1 Australia Patient Lift Slings Market by Product
12.3.8.1.2 Australia Patient Lift Slings Market by Usage
12.3.8.1.3 Australia Patient Lift Slings Market by Sling Shape
12.3.8.1.4 Australia Patient Lift Slings Market by Material
12.3.8.1.5 Australia Patient Lift Slings Market by End User
12.3.8.2 China Patient Lift Slings Market
12.3.8.2.1 China Patient Lift Slings Market by Product
12.3.8.2.2 China Patient Lift Slings Market by Usage
12.3.8.2.3 China Patient Lift Slings Market by Sling Shape
12.3.8.2.4 China Patient Lift Slings Market by Material
12.3.8.2.5 China Patient Lift Slings Market by End User
12.3.8.3 India Patient Lift Slings Market
12.3.8.3.1 India Patient Lift Slings Market by Product
12.3.8.3.2 India Patient Lift Slings Market by Usage
12.3.8.3.3 India Patient Lift Slings Market by Sling Shape
12.3.8.3.4 India Patient Lift Slings Market by Material
12.3.8.3.5 India Patient Lift Slings Market by End User
12.3.8.4 Japan Patient Lift Slings Market
12.3.8.4.1 Japan Patient Lift Slings Market by Product
12.3.8.4.2 Japan Patient Lift Slings Market by Usage
12.3.8.4.3 Japan Patient Lift Slings Market by Sling Shape
12.3.8.4.4 Japan Patient Lift Slings Market by Material
12.3.8.4.5 Japan Patient Lift Slings Market by End User
12.3.8.5 South Korea Patient Lift Slings Market
12.3.8.5.1 South Korea Patient Lift Slings Market by Product
12.3.8.5.2 South Korea Patient Lift Slings Market by Usage
12.3.8.5.3 South Korea Patient Lift Slings Market by Sling Shape
12.3.8.5.4 South Korea Patient Lift Slings Market by Material
12.3.8.5.5 South Korea Patient Lift Slings Market by End User
12.4. MIDDLE EAST AND AFRICA
12.4.1 Middle East and Africa Patient Lift Slings Market Overview
12.4.2 Middle East and Africa Patient Lift Slings Market Forecasts and Analysis
12.4.3 Middle East and Africa Patient Lift Slings Market Forecasts and Analysis - By Product
12.4.4 Middle East and Africa Patient Lift Slings Market Forecasts and Analysis - By Usage
12.4.5 Middle East and Africa Patient Lift Slings Market Forecasts and Analysis - By Sling Shape
12.4.6 Middle East and Africa Patient Lift Slings Market Forecasts and Analysis - By Material
12.4.7 Middle East and Africa Patient Lift Slings Market Forecasts and Analysis - By End User
12.4.8 Middle East and Africa Patient Lift Slings Market Forecasts and Analysis - By Countries
12.4.8.1 South Africa Patient Lift Slings Market
12.4.8.1.1 South Africa Patient Lift Slings Market by Product
12.4.8.1.2 South Africa Patient Lift Slings Market by Usage
12.4.8.1.3 South Africa Patient Lift Slings Market by Sling Shape
12.4.8.1.4 South Africa Patient Lift Slings Market by Material
12.4.8.1.5 South Africa Patient Lift Slings Market by End User
12.4.8.2 Saudi Arabia Patient Lift Slings Market
12.4.8.2.1 Saudi Arabia Patient Lift Slings Market by Product
12.4.8.2.2 Saudi Arabia Patient Lift Slings Market by Usage
12.4.8.2.3 Saudi Arabia Patient Lift Slings Market by Sling Shape
12.4.8.2.4 Saudi Arabia Patient Lift Slings Market by Material
12.4.8.2.5 Saudi Arabia Patient Lift Slings Market by End User
12.4.8.3 U.A.E Patient Lift Slings Market
12.4.8.3.1 U.A.E Patient Lift Slings Market by Product
12.4.8.3.2 U.A.E Patient Lift Slings Market by Usage
12.4.8.3.3 U.A.E Patient Lift Slings Market by Sling Shape
12.4.8.3.4 U.A.E Patient Lift Slings Market by Material
12.4.8.3.5 U.A.E Patient Lift Slings Market by End User
12.5. SOUTH AND CENTRAL AMERICA
12.5.1 South and Central America Patient Lift Slings Market Overview
12.5.2 South and Central America Patient Lift Slings Market Forecasts and Analysis
12.5.3 South and Central America Patient Lift Slings Market Forecasts and Analysis - By Product
12.5.4 South and Central America Patient Lift Slings Market Forecasts and Analysis - By Usage
12.5.5 South and Central America Patient Lift Slings Market Forecasts and Analysis - By Sling Shape
12.5.6 South and Central America Patient Lift Slings Market Forecasts and Analysis - By Material
12.5.7 South and Central America Patient Lift Slings Market Forecasts and Analysis - By End User
12.5.8 South and Central America Patient Lift Slings Market Forecasts and Analysis - By Countries
12.5.8.1 Brazil Patient Lift Slings Market
12.5.8.1.1 Brazil Patient Lift Slings Market by Product
12.5.8.1.2 Brazil Patient Lift Slings Market by Usage
12.5.8.1.3 Brazil Patient Lift Slings Market by Sling Shape
12.5.8.1.4 Brazil Patient Lift Slings Market by Material
12.5.8.1.5 Brazil Patient Lift Slings Market by End User
12.5.8.2 Argentina Patient Lift Slings Market
12.5.8.2.1 Argentina Patient Lift Slings Market by Product
12.5.8.2.2 Argentina Patient Lift Slings Market by Usage
12.5.8.2.3 Argentina Patient Lift Slings Market by Sling Shape
12.5.8.2.4 Argentina Patient Lift Slings Market by Material
12.5.8.2.5 Argentina Patient Lift Slings Market by End User
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. PATIENT LIFT SLINGS MARKET, KEY COMPANY PROFILES
14.1. INVACARE CORPORATION
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. MEDICAL DEPOT, INC. DBA DEVILBISS HEALTHCARE
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. MEDLINE INDUSTRIES, INC.
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. BESTCARE, LLC.
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. DJO GLOBAL
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. ARJO
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. PRISM MEDICAL
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. HANDICARE
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. VANCARE
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. OSPREY SLING COMPANY
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. Invacare Corporation2. Medical Depot, Inc. dba DeVilbiss Healthcare3. Medline Industries, Inc.4. Bestcare, LLC.5. DJO Global6. Arjo7. Prism Medical8. Handicare9. Vancare10. Osprey Sling Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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