Global Specialty Medical Chairs Market: Snapshot
A burgeoning geriatric population is the main driver of demand for specialty medical chairs. Other factors stoking market growth are growing healthcare outlays in developing countries and constant thrust on innovation to create better products by leading manufacturers such as Fresenius Medical Care, Invacare Corporation, and Topcon Medical Systems, Inc. One factor posing a challenge to the market for specialty medical chairs is their expensiveness and the steep cost of refurbishing old ones. In order to make the most of the opportunity in the market, success-hungry companies need to reduce prices.
A noticeable trend in the global specialty medical chairs market is companies focusing on expanding their distribution channels by forging alliances with private clinics, multispecialty clinics, and distributers.
Owing to such efforts of players and other tailwinds, the global market for specialty medical chairs is expected to rise at a CAGR of 6.5% from 2015 to 2023, foretells a research study by Transparency Market Research. The report expects the market to clock a value of US$6.75 bn by 2023-end from US$3.80 bn in 2014.
Rehabilitation Chairs to be Dominant Product Segment due to Growing Popularity of Home Healthcare
Popular products in the global specialty medical chairs market are treatment chairs, examination chairs, and rehabilitation chairs. Cardiac chairs, birthing chairs, blood drawing chairs, mammography chairs, and dialysis chairs are the different varieties of examination chairs available in the market. Treatment chairs are again divided into ENT chairs, ophthalmic chairs, and dental chairs. And rehabilitation chairs are comprised of pediatric chairs, geriatric chairs, bariatric chairs, and toilet chairs. Going forward, the segment of rehabilitation chairs is expected to emerge as the top revenue grosser in the market on the back of rising uptake of home health care and innovative business strategies of players. The segment is anticipated to pull in a CAGR of 6.5% in the forecast period during 2015 and 2023. The treatment chairs on the other had are expected to rise at a higher CAGR of 8.1% in the same period.
Manufacturers are seen pouring money into development of more effective specialty medical chairs to suit various needs such as to cardiac problems, pregnancy, and obesity. With the emergence of more sophisticated products offering higher comfort and improved technologies on account of such product innovation efforts by players, the market will benefitted in the near term, feels the analyst at TMR.
Numerous Dental, ENT, and Ophthalmic Clinics Make North America Dominant Region
Key geographic regions in the global specialty medical chairs market are Asia Pacific, North America, Europe, and the Rest of the World. Of them, North America has the largest share in the market. In 2014, its dominant share came to around a significant 43.1%. In the years ahead too, the segment is predicted to retain its market position by rising at a CAGR of 6.8%. The market in the region is being mainly boosted by the good number of dental, ophthalmic, and ENT clinics, particularly in the U.S. and Canada. Apart from that, supportive reimbursement policies for bariatric chairs and wheelchairs in the region have also had a positive impact on the market.
Asia Pacific is another key market for specialty medical chairs. Mainly fuelling the market in the region is the increasing pool of elderly people and the growing disposable incomes of the people. China, India, Singapore, and South Korea are mainly driving the growth in Asia Pacific.
Prominent participants in the global market for specialty medical chairs are Fresenius Medical Care, Forest Dental Products, Inc., A-dec, Inc., Invacare Corporation, ACTEVAID, Inc., and DentalEZ amongst others.
Specialty medical chairs are medical devices that help patients in enhancing mobility or in improving comfort during various surgical operations. The specialty medical chairs market has witnessed strong growth in the past few years due to factors such as increasing number of private and government clinics and hospitals and rising geriatric population globally. Additionally, high cost of specialty medical chairs and economic instability are likely to hamper market growth during the forecast period from 2015 to 2023.
This report provides an in-depth and comprehensive analysis of the specialty medical chairs market on the basis of product type and geography. Based on product type, the report covers examination chairs, treatment chairs, and rehabilitation chairs. The examination chairs segment comprises birthing chairs, cardiac chairs, blood drawing chairs, dialysis chairs, and mammography chairs. The treatment chairs segment comprises ophthalmic chairs, ENT chairs, dental chairs, and other surgery chairs. The rehabilitation chairs segment has been sub-segmented into pediatric chairs, bariatric chairs, geriatric chairs, and toilet chairs. The market size and forecast for each product type has been provided for the period 2013 to 2023, considering 2014 as the base year. The report also provides the compound annual growth rate (% CAGR) for the forecast period from 2015 to 2023 for each segment.
Geographically, the specialty chairs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). These regions have been further segmented into major countries such as the U.S. and Canada (North America); the U.K., Germany, and Rest of Europe (Europe); India, China, and Rest of APAC (Asia Pacific); Brazil, Mexico, and Rest of LATAM (Latin America); and South Africa and Rest of MEA (Middle East & Africa). The market size and forecast in terms of USD million for each region and countries has been provided for the period from 2013 to 2023, considering 2014 as the base year. The report also provides the compound annual growth rate (% CAGR) for the forecast period 2015 to 2023 for each segment.
The market overview section of the specialty medical chairs market report discusses detailed qualitative analysis of the factors responsible for driving and restraining the growth of the market and future opportunities. This section also covers market attractiveness analysis, value chain analysis, and end-user analysis of the global specialty medical chairs market. A list of recommendations for existing as well as new entrants has been discussed in the study to help in decision making. The report concludes with company profiles of key players operating in various segments of the market. Each company profile includes business overview, financial overview, product portfolio, business strategies, and recent developments. Some of the prominent players in the specialty medical chairs market that have been profiled in this report are ACTEVAID, Inc., A-dec, Inc., DentalEZ, Forest Dental Products, Inc., Fresenius Medical Care, and Invacare Corporation, among others.
The global specialty medical chairs market is segmented as follows:
- Global Specialty Medical Chairs Market, by Product Types
- Examination Chairs
- Birthing Chairs
- Cardiac Chairs
- Blood Drawing Chairs
- Dialysis Chairs
- Mammography Chairs
- Treatment Chairs
- Ophthalmic Chairs
- ENT Chairs
- Dental Chairs
- Other Surgery Chairs
- Rehabilitation Chairs
- Pediatric Chairs
- Bariatric Chairs
- Geriatric Chairs
- Toilet Chairs
- Examination Chairs
- Global Specialty Medical Chairs Market, by Geography
- North America
- United States
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East and Africa (MENA)
- South Africa
- Rest of MEA
- North America