Specialty Medical Chairs Market - Global Industry Insights
Specialty medical chairs are used for examination, treatment or rehabilitation purpose. Specialty medical chairs are designed according to the medical needs and comfort of the patient, as well as to offer doctors better access to their patients. These devices can be manual or powered by batteries. Increasing number of patients requiring treatment and examination favors growth of the specialty medical chairs market. Furthermore, growing geriatric population is expected to favor growth of the specialty medical chairs market for rehabilitation purpose. According to data published by National Institute on Aging in 2010, 524 million people were aged 65 years or older, which accounted for 8% of the world's population and was expected to nearly triple and reach 1.5 billion, representing 16% of the world's population by 2050.
Advancements in technology in specialty medical chairs is expected to support growth of the specialty medical chairs market. For instance, Dentsply Sirona, Inc. focusing on development of new products, updating existing products, and introducing advanced technology in products. In 2016, Dentsply Sirona, Inc. invested US$ 128.5 million in product innovation. Moreover, increasing prevalence of chronic disorders is also expected to boost growth of the specialty chairs market. For instance, according to the Center for Disease Control and Prevention in 2016, 11.7% of adults in the U.S. were diagnosed with heart disease, thereby driving demand for cardiac chairs.
The global specialty medical chairs market size is estimated to be valued at US$ 5,086.1 Mn in 2018 and is expected to witness a robust CAGR of 6.2% during the forecast period (2017-2026).
Figure:-Global Specialty Medical Chairs Market Value (US$ Mn) and Y-o-Y Growth (%)
Source: Coherent Market Insights 2018
Increasing number of hospitals and healthcare centers is driving growth of the specialty medical chairs market
Increasing number of hospitals and clinics is increasing the demand for specialty medical chairs such as birthing chairs, dialysis chairs, and rehabilitation chairs that serve specific purposes depending on their application. This in turn, is positively impacting growth of the specialty medical chairs market. For instance, according to American Hospital Association (AHA), an annual survey on hospitals in the U.S. reveals that, 5,534 hospitals were registered in the U.S. in 2017. According to the Central Bureau of Health Intelligence, the number of hospitals in India increased from 4,571 in 2000 to 11,993 in 2011. Furthermore, increasing government funding towards expanding the healthcare sector is fueling growth of the market. For instance, Saudi Arabia’s government allocated US$ 28.8 billion to health and social welfare, which includes funding for 11 new hospitals, 11 medical centers, and two medical complexes, in addition to the 132 hospitals and healthcare centers, in 2014.
Rising prevalence of disability is expected to foster growth of the specialty medical chairs market
Rising prevalence of disability due to various factors such as increasing number of road accidents, spinal cord injuries, meningitis, and workplace injuries are expected to favor demand for wheelchairs over the forecast period. According to World Health Organization (WHO), around 10% people among the overall disabled population globally, require specialty medical chairs for their daily activities and physical movement.
As per the Centers for Disease Control and Prevention (CDC), in 2013, over 53 million people in the U.S. were suffering from some form of disability. Furthermore, the most common type of disability found was mobility disability, which was around 1 in 8 adults among all disabled cases in 2015, as stated by CDC. Moreover, CDC also that in the U.S., around 39.6 million people aged 18 years and above are suffering from some physical functioning disability and this number is expected to increase over the forecast period. According to stats published by the Council for Disability Awareness (CDA), in 2013, in the U.S., 1 in 4 children under 20 years of age are expected to be disabled before they retire, due to various factors such as excess body weight and chronic diseases such as diabetes, high blood pressure, and back pain.
Key players operating in the market include Dentsply Sirona, Danaher Corporation, Fresenius Kabi AG, A-DEC, Inc, ACTIVEAID, Inc, DentalEZ, Inc, Topcon Medical Systems, Inc., Midmark Corp., PLANMECA OY, and Hill Laboratories Company.
The specialty medical chairs are available in both, manual and electric mode. Specialty medical chairs provide doctors easy access to a patient’s body to operate or examine. These chairs are also designed to enhance the comfort for patients during long treatment procedures. Increasing prevalence of chronic disorders is favoring growth of the specialty chairs market. For instance, According to the Stroke Association Report 2017, in the U.K. there were over 100,000 stroke cases reported every year that was almost two third of the total disability cases and this even lead to paralysis in certain cases, which restricts the movement of an individual from one place to another.
The Global Specialty Medical Chairs Market is projected to witness significant growth over the forecast period, owing to growing aging population, natural disasters, chronic health conditions, and road accidents, which increase the prevalence of disabilities. This in turn, is expected to increase the demand for rehabilitation chairs, thus boosting growth of the Specialty Medical Chairs Market. According to the United Nations ESCAP’s estimation, the number of older people in Asia Pacific is expected to increase from 547 million in 2016 to around 1.3 billion by 2050.
Furthermore, increasing number of hospitals and clinics is increasing the demand for specialty medical chairs such as birthing chair, dialysis chair, and rehabilitation chairs that serve specific purposes depending on their application. For instance, according to American Hospital Association (AHA), an annual survey of hospitals in the U.S., suggests the total number of registered hospitals in the U.S. was 5,534 in 2017.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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