Analysis of Specialty Medical Chairs market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Fact.MR’s specialty medical chairs industry analysis reveals that the global market was valued at US$ 5 Bn in 2020, and is projected to top US$ 7 Bn by 2031, expanding at a CAGR of 6%. Demand for specialty medical chairs for examination purposes is projected to reach a valuation of US$ 2 Bn by 2031, increasing at a CAGR of 5%, with that for treatment chairs surging at 8%.
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As per the specialty medical chairs industry research by Fact.MR – a market research and competitive intelligence provider, historically, from 2016 to 2020, market value increased at 5% CAGR, where North America, Europe, and Asia Pacific held significant share in the global market.
The growing geriatric population is expected to accelerate the demand for specialty medical chairs over the forecast period. In addition, the introduction of technologically advanced and fully automated medical chairs is anticipated to serve the market with lucrative growth opportunities.
End-Stage Renal Disease (ESRD) regulations state that patients should receive the same type of care and treatment at home as they receive in hospitals, thereby increasing product adoption in homecare. These factors are expected to contribute to the growth of the market in the years ahead.
Specialty medical chairs help individuals in enhancing mobility or in improving comfort during various surgical operations. Specialty medical chairs can be used at the time of examination and treatment of patients in hospitals, clinics and ambulatory surgical centres. Also, ease and manoeuvrability of specialty medical chairs allows professionals to use them in different fields of healthcare.
Increasing awareness of medical conditions and growing access to medical assistance are key factors driving demand for specialty medical chairs across regions.
In addition, increasing preference for home healthcare is fuelling the growth of this market. Moreover, continuous R&D activities by major players to develop innovative products is expected to boost product sales over the forecast period.
Introduction of technologically advanced and fully automated medical chairs is expected to provide beneficial opportunities for market players in the near future.
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North America holds a dominant market share of over 44%. This can be attributed to increased geriatric population and the presence of a supportive reimbursement structure in the region. Rising prevalence of lifestyle-associated disorders is projected to drive regional market over the coming ten years.
An increase in the number of dental, ophthalmic, and ENT clinics across the U.S. and Canada is also pushing product demand. In addition, presence of key market players and advanced healthcare infrastructure along with high disposable income levels and vast lifestyle changes are contributing to overall growth of the regional market.
Asia Pacific is anticipated to be the fastest-growing regional market over the assessment period, owing to increasing geriatric population, which indicates a substantial socioeconomic burden in this region. An unprecedented increase in the geriatric population is also anticipated to reduce the workforce and increase public healthcare spending in this region, consequentially increasing the adoption of specialty medical chairs.
Furthermore, presence of supportive international organizations such as the United Nations Population Fund, which aims at providing support to developing countries for developing and implementing national strategies and policies, is projected to boost the growth. In addition, rising disposable income and continuous R&D activities by major regional players to develop innovative products are expected to bolster market growth over the coming years.
Demand for specialty medical chairs in the U.S. was estimated at US$ 1.4 Bn in 2020. High demand is owing to rising geriatric population and well-developed reimbursement structure in the country.
In addition, increasing number of dental, ophthalmic, and ENT (ears, nose, and throat) clinics across the U.S. are fuelling demand for specialty medical chairs in the country.
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Rehabilitation chairs hold the largest market share of 41%. Rehabilitation chairs include paediatric, bariatric, and geriatric chairs.
Paediatric chairs are used for bathing, positioning, and mobility purposes. Similar functions can be carried out using the bariatric and geriatric chairs, except the weight carrying capacity of these chairs may be higher. Growing geriatric population and rising cases of paralysis and spinal injuries are anticipated to drive the segment over the coming years.
As per WHO, in 2018, studies conducted in Africa stated that between 62.5% and 82.5% of people in need of rehabilitation services do not receive them, which is increasing their demand, and hence, is expected to drive the adoption of rehabilitation services and chairs.
Sales of treatment chairs are anticipated to increase at a lucrative CAGR of 8% during the forecast period. They are an indispensable part of any treatment procedure such as surgeries.
A major benefit associated with these products is that they help patients achieve a comfortable posture, which gives doctors unrestricted access to various parts of the body. This equipment increases safety for both, caregivers and patients, and enhances patient relaxation.
The market for treatment chairs is expected to grow steadily during the analysis period.
The ongoing global COVID-19 pandemic crashed all markets and businesses around the world. Cancellation of all non-essential services and day-to-day commute services along with lockdowns imposed in a majority of countries has created an environment of ruckus and has adversely affected the world economy.
The pandemic has also majorly affected the healthcare sector. Healthcare infrastructure is focusing on bulk purchase of personal protective equipment (PPEs) and medical ventilators for effective patient treatment. Thus, as professionals are more focused on essential supplies, demand for specialty medical chairs has decreased significantly.
Many local and international medical device manufacturers are investing in this market due to its high growth potential. The competitive milieu has resulted in improved treatment delivery, better products, and increased patient safety.
Most key players focus on mergers & acquisitions, new product development, collaborations & partnerships, and expansion strategies to strengthen their market position.
Historical Data Available for
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The global specialty medical chairs market was valued at 5 Bn in 2020 and is anticipated to top 7 Bn by 2031.
North America dominated the global specialty medical chairs market with a share of 44% in 2020. This is attributable to rising geriatric population and well-developed reimbursement structure.
Some of the key players operating in the market include Fresenius Medical Care AG & Co. KGaA, Topcon Corporation, Midmark Corp, Danaher (KaVo Dental GmbH), Dentsply Sirona, and Hill Laboratories Company.
Key factors that are driving market growth include increasing aging population, rising number of dental, ophthalmic, and ENT clinics, and advanced healthcare infrastructure.
Lack of access to top-notch products is likely to remain a key restraint for the market over the forecast period, especially in developing economies.
Rehabilitation chairs hold the largest revenue share of 41% in the market for specialty medical chairs.
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