Stair Lifts And Climbing Devices Market (2023 - 2030) Size, Share & Trends Analysis Report By Device (Stair Lifts, Stair Climbing Wheelchairs, Others), By End-use (Hospitals, Homecare, Others), By Region, And Segment Forecasts

Stair Lifts And Climbing Devices Market Summary

According to the world report on disability 2021 by World Health Organization (WHO), about 15% of the world’s population is suffering from some form of disability who are in need of mobility aids that provide independence to people and reduce pain. There are various items that are intended to assist individuals with restricted mobility to move around freely and autonomously, such as stair lifts, wheelchairs, climbing canes, etc.

These devices are easy to use and provide effective mobility solutions to people. In recent years, stair lifts have become a popular choice for the elderly and people with limited mobility. A stair lift is fundamentally an engine-controlled wheelchair on rails. They are fabricated to work on the 'pinion and racks' innovation, empowering wheelchair-bound individuals or people with portability issues to utilize flights of stairs and steps effortlessly.

Covid-19 has led to turmoil in market improvement, and consequently, momentary demand is difficult to anticipate. Covid-19 has brought a financial burden on patients suffering from disability and chronic conditions as the cost for durable medical equipment increased due to supply bottlenecks. Due to the pandemic, the end-users were not willing to spend a sufficient measure of upfront expense on stair lifts as the cost of installing a stair lift can be expensive in some countries. However, global sellers like the Savanah Corp. group reported a revenue increase in 2021 as compared to 2020 implying that the market is on the road to recovery.

Technological advancements, like outdoor, curved, and wheelchair-incorporated lifts are expected to boost the market growth. Sellers are probably going to positively affect the market by giving free conveyance and various financing alternatives to purchasers. The expanding accessibility of these machines in the market is projected to reinforce user interest during the forecast period.

Today numerous individuals know about the upsides of stair lifts which has prompted expanded demand for this versatile equipment. With trend-setting innovation, stair lifts with a wide scope of helpful features like movable seats, collapsing steps, flip-up rail, battery segregation switches, call stations, speed regulators, safety belts, stop buttons, stop sensors, and so forth are currently accessible on the lookout.  

According to WHO, 2 billion people of the world's population are expected to be aged 60 years by 2050. This shows that the demand for stair lifts is expected to increase later on. However, this development might be deterred by the expanded expense brought through the purchase and installation of stair lifts. The normal expense for purchasing a straight stair lift is around USD 3, 000 to USD 4,000 and the cost of curved stair lifts and those with extra in-assembled highlights is around USD 15,000 – substantially costlier than the straight stair lift.

Moreover, Medicare and Medicaid do not recognize stair lifts as durable medical types of equipment essential for daily assistance and consider them as a form of home modification equipment and are therefore not covered or reimbursed through Medicaid or Medicare. This implies that the cost of stair lifts or climbing devices will be incurred by the user and can hinder market growth.

Device Insights

The stair lifts segment dominated the overall market and accounted for the largest revenue share of 58.2% in 2022. Old population and disabled people can easily access and move the equipment without requiring any assistance. More seniors are seeing the value of aging in place, frequently looking for products that allow them to remain independent in their homes. They are an effective solution & include a lot of possible features to meet the needs of users. Besides, its ability to be fitted on almost any staircase makes it more adaptable at home, whether indoors or outdoors. Some players, for instance, Handicare provide customized curved designs that ensure a tight fit without sacrificing safety.

Moreover, the majority of key players are now providing 24/7 uninterrupted post-sale service and regular annual maintenance checks to provide effective services to their current customers and also retain them in the long run. These are the factors that are expected to increase the market growth during the forecast period.

End-use Insights

The homecare segment accounted for a maximum share of 65.6% in 2022 and is likely to remain dominant in the coming future. A major factor that influences the stair lifts market for home care is the ability of the devices to safely and quickly move users from one place to another without the help of any other person. As per Bruno Independence, a key player in the market, the majority of the stair lifts installed in North America are straight stair lifts as most of the homes are often up to a second floor, and therefore the market for straight stair lifts held the largest market share globally.

The hospital segment is also projected to witness a significant growth rate of CAGR of 9.1% over the forecast period. The stair lift is mainly required for the transportation of patients when going up and down through staircase in the hospital and can also be helpful in case of power shutdowns. Low mobility entrances & stairs can make it very tricky to gain access to hospital. As per the Disability Discrimination Act (DDA) 2005, it is essential & a legal requirement to have a fully functional accessibility system within the healthcare facility whether a private or public NHS hospital.

Regional Insights

North America region dominated the global market in 2022 with the largest market share of 43.3%. In North America, the developing prevalence of individuals experiencing disability and technological advancements are key factors driving the market growth. According to a report by the United States Census Bureau in 2018, the geriatric population in America will be around 1 billion by 2030. This might imply that the demand for stair lifts or climbing devices is expected to increase in the coming future, which in turn might increase revenue growth.

Asia Pacific region to witness the fastest growth rate of CAGR 10.2% over the forecast period. According to United Nations (UN) estimates, Asia Pacific is home to almost 60% of the world's 650 million disabled people. Besides, the presence of well-established market players in the region is also anticipated to support market growth.Stair lifts and climbing devices manufacturing companies such as Handicare group are responsible for the rise in supply and providing good services for these mobility devices in the Asia Pacific region

Key Companies & Market Share Insights

Some of the players operating in the market are Stannah, Bruno Independent Living, Handicare, Acorn Stairlifts, and ThyssenKrupp Elevator Technology. Quick adoption of advanced technologies for improved health care is creating a competitive environment. The companies are improving the product offering by utilizing vital cooperative drives and are involved in acquisitions to grow their client base further and gain a portion of the overall industry. For instance, in November 2020, Stannah launched an e-commerce site that allows customers to purchase a stair lift online. This will allow the company to increase its sales revenue through an omnichannel strategy. Some prominent players in the global stair lifts and climbing devices market report include:

• Platinum Stairlifts

• Bruno Independent Living Aids

• ThyssenKrupp Elevator Technology

• American Elevator

• Precision Stairlifts

• Stannah

• Handicare

• Acorn

• Otolift

• Harmar 

• Garaventa Lift

Stair Lifts And Climbing Devices Market Report Scope

Global Stair Lifts And Climbing Devices Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub - segments from 2018 to 2030. For the purpose of this study, Grand View Research, Inc. has segmented the global stair lifts and climbing devices market report on the basis of device, end-use, and region:

• Device Outlook (Revenue, USD Million, 2018 - 2030)

  • Stair Lifts

    • Straight

    • Curved

    • Inclined Platform

  • Stair Climbing Wheelchairs

    • Manual

    • Powered

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Homecare

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Sweden

    • Denmark

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait