The global specialty medical chairs market is expected to reach USD 7.65 billion by 2025, according to a new report by Grand View Research, Inc., Increasing geriatric population is expected to boost the adoption of specialty medical chairs. As per 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, population in 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 these equipment in the coming years.
As per the European Health Interview Survey (EHIS), 51.6 % of the European populace (18 years and above) was overweight in 2014. Rising prevalence of lifestyle-associated diseases, such as diabetes, obesity, chronic kidney disease, and cardiovascular disease, is increasing patient base for the adoption of these products. Furthermore, growing disabled population as a result of a rise in incidence of paralysis and spinal injuries is anticipated to drive the market to some extent. According to CDC, 53 million people in the U.S. are living with a disability.
Increasing reimbursement policies and supportive regulatory framework in developed nations are pushing the market growth. For instance, Medicare policies in the U.S. offer reimbursement for equipment such as wheel chairs, recliners, and other specialty medical chairs. In addition, key market players are offering customized products to meet the various needs of doctors and patients. Rising demand for new products, changing lifestyle, ease of use, and better facilities are factors expected to provide lucrative opportunities.
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Further Key Findings From the Study Suggest:
Rehabilitation specialty medical chair held the dominant share of 40.94% in the market owing to the increasing geriatric population
Dialysis chair held the largest share in the examination segment owing to increasing prevalence of chronic kidney diseases and technologically advanced products offered by market leaders in this segment
Treatment segment is anticipated to grow at a steady rate as these products are required for carrying out various treatment procedures and offer better comfort to patients during surgeries or other procedures
Rehabilitation segment is also expected to grow steadily owing to the rising geriatric population and increasing demand for bathroom aids
Asia Pacific region is anticipated to grow at a lucrative CAGR of 7.5% owing to improving healthcare infrastructure, growing geriatric population, and rising disposable income, which is anticipated to drive the growth in Asia Pacific region
Grand View Research has segmented the specialty medical chairs market on the basis of product and region:
Specialty Medical Chairs, Product Outlook (Revenue, USD Million, 2014 - 2025)
Specialty Medical Chairs, Regional Outlook (Revenue, USD Million, 2014 - 2025)
The Middle East and Africa
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