Increasing Geriatric Population to Drive Greater Uptake of Specialty Medical Chairs
The global specialty medical chairs market stood at US$3.80 bn in 2014 and the market is anticipated to progress at a CAGR of 6.5% between 2015 and 2023. The consistently rising geriatric population will be the primary growth driver for the global market in the coming years, states Transparency Market Research. However, the high cost of chairs and the option of refurbishing old ones is restraining this market to some degree. Though the cost of these chairs is a challenge to the market’s growth, it also presents an opportunity to the manufacturers to reduce the prices and tap into the needs of the price-conscious consumers in the market.
The growing investments in the healthcare sector, especially in the developing countries, are bound to increase the sales of specialty medical chairs, expects TMR. The introduction of technologically advanced chairs by players such as Invacare Corporation, Fresenius Medical Care, and Topcon Medical Systems, Inc. that offer customizations to cater to clinical complications of patients such as pregnancy, obesity, and cardiac problems amongst others, is also likely to create remarkable opportunities for the market. The global specialty medical chairs market is thus estimated to hold an opportunity worth US$6.75 bn by the end of 2023.
Supportive Regulatory Framework Supports Growing Demand for Specialty Medical Chairs in North America
North America held the largest share in the overall market, accounting for 43.1% of it in 2014. A sizeable base of ophthalmic, ENT, and dental clinics across countries in North America have kept the investment sentiment positive in this region. Furthermore, supportive reimbursement policies for wheelchairs and bariatric chairs have also helped this market to achieve a significant growth rate in North America. Between 2015 and 2023, the North America specialty medical chairs market is expected to show a CAGR of 6.8%.
Asia Pacific has been identified as the most attractive market for specialty medical chairs over the forecast period. The projected rise in the number of geriatrics and rising disposable incomes will be the underlining factors augmenting the specialty medical chairs market in Asia Pacific. Countries such as India, China, South Korea, and Singapore amongst others will be the focal points of the market’s growth.
Treatment and Rehabilitation Chairs to Witness Stable Demand
The increasing awareness about various medical conditions, growing access to medical assistance, and rising disposable incomes have expanded the end-user base for medical chairs. Against this backdrop, the investments and expenditure on treatment and rehabilitation chairs have soared in the past few years. The shifting preference of patients towards home health care and innovative business strategies adopted by players are also boosting the sales of specialty medical chairs, especially under the treatment and rehabilitation segment. The report states that the rehabilitation segment will exhibit a CAGR of 6.5% while the treatment chairs will have a CAGR of 8.1% between 2015 and 2023.
Some of the key players operating the global specialty medical chairs market are Forest Dental Products, Inc., A-dec, Inc., Fresenius Medical Care, ACTEVAID, Inc., Invacare Corporation, and DentalEZ amongst others. To maintain a lead, companies will have to expand their distribution networks in the near future.
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