The global Specialty Medical Chairs market size is expected to be worth around US$ 6.10 billion by 2030, according to a new report by Vision Research Reports.
The global Specialty Medical Chairs market size was valued at US$ 5.51 billion in 2020 and is anticipated to grow at a CAGR of 7.10% during forecast period 2021 to 2030.
Increasing geriatric population is one of the major factors boosting the product adoption. As per the WHO, it is estimated that from 2025 to 2050, the older population is expected to almost double to 1.6 billion globally. According to The World Bank, the population in the Asia Pacific region is aging rapidly.
More than 211 million people aged 65 years and above were living in East Asia and Pacific in 2010. The older population is expected to grow by 22% every five years in East Asia. This shows the potential demand for geriatric chairs in the coming years. The rising prevalence of lifestyle-associated diseases, such as diabetes, obesity, chronic kidney disease, and Cardiovascular Diseases (CVDs), is also expected to augment the product demand. Furthermore, rising cases of paralysis and spinal injuries are anticipated to contribute to the market growth.
Increasing reimbursement policies and supportive regulatory frameworks in developed nations are also pushing the market growth. For instance, Medicare policies in the U.S. offer reimbursement for equipment, such as wheelchairs, recliners, and others. In addition, key market players are offering customized products to meet the various needs of doctors and patients. Rising demand for new, easy-to-use products with better facilities is expected to provide lucrative opportunities to the market participants.
The examination and treatment rate at dental, ophthalmic, and gynecology clinics has decreased significantly, which can be attributed to the lockdown imposed in various Asian countries due to the pandemic and growing preference for online consultations. Various domestic and international companies are facing major challenges in Japan and China due to the pandemic and the aftermath is expected to continue until the second half of 2021.
The rehabilitation chairs segment held the largest market share of 40.6% in 2020. Rehabilitation chairs include pediatric, bariatric, and geriatric chairs. Pediatric 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. The growing geriatric population and rising cases of paralysis and spinal injuries are anticipated to drive the segment over the forecast period.
As per the 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.
Dialysis chairs held the largest share in the examination product segment in 2020 mainly due to the increased incidence of chronic kidney diseases. Consistent technical advancements, such as increased weight capacity and less time required for attaining Trendelenburg position, are likely to stimulate the demand for dialysis chairs, enabling the segment to retain its leading position during the forecast period.
The treatment chairs segment is anticipated to grow at a lucrative rate of 7.9% 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 a patient’s body. This equipment increases safety for both caregivers & patients and enhances patient relaxation. The market for treatment chairs is expected to grow steadily during the forecast period.
North America held the dominant market share of over 44% in 2020. This growth can be attributed to the increased geriatric population and the presence of a supportive reimbursement structure. The rising prevalence of lifestyle-associated disorders is projected to drive the regional market over the forecast period.
An increase in the number of dental, ophthalmic, and ENT clinics across the U.S. and Canada is also pushing the product demand. In addition, the presence of key market players and advanced healthcare infrastructure along with high disposable income levels and vast lifestyle changes are contributing to the overall growth of the regional market.
The Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period owing to the 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. According to a report published by the U.S. Census Bureau, Japan has the highest percentage of the aged population in the world.
Furthermore, the presence of supportive international organizations, such as the United Nations Population Fund, which aims at providing support to such countries for developing and implementing national strategies and policies, is projected to boost the market growth. In addition, rising disposable income and continuous R&D activities by major regional players to develop innovative products are expected to bolster the market growth over the coming years.
Fresenius Medical Care AG & Co. KGaA
Danaher (KaVo Dental GmbH)
Hill Laboratories Company
The Specialty Medical Chairs market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Specialty Medical Chairs market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Specialty Medical Chairs market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Specialty Medical Chairs market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Specialty Medical Chairs market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Specialty Medical Chairs capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Specialty Medical Chairs by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Specialty Medical Chairs market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Specialty Medical Chairs market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Specialty Medical Chairs market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Specialty Medical Chairs industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Specialty Medical Chairs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Specialty Medical Chairs market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Specialty Medical Chairs market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Specialty Medical Chairs market. These factors have benefited the growth of the global market for Specialty Medical Chairs. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Specialty Medical Chairs. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Specialty Medical Chairs are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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