Increased Health Problems Driving Global Stairlift Market

  • Increasing aging population and increasing incidence of lifestyle diseases are major factors expected to drive growth.
  • The residential area application segment is expected to register highest CAGR.
  • The market in Europe is expected to account for highest share in terms of revenue.

The global stairlift market is estimated to value $1.2 billion in 2017, and is projected to register a CAGR of 6.2% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the global stairlift market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026.

Stairlifts are basically mobility devices mainly used by disabled and aging people for vertical mobility. These devices help people to travel between floors and high-rise buildings efficiently. Stairlifts used in applications such as in residential buildings, hospitals and clinics, educational institutes, restaurants, and commercial or public spaces such as shopping malls, and offices.

Increasing aging population and increasing incidence of lifestyle diseases such as obesity and large tracts of age groups reporting osteoarthritis are major factors expected to drive growth of the global starilift market over the forecast period. In addition, rising technological advancements for developing products offering better functionality and advanced safety features is expected to fuel growth of the target market.

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The global stairlift market is segmented on the basis of product type, application, and region. On the basis of product, the target market is segmented into straight stairlift and curved stairlift. The straight stairlift product segment is expected to account for highest share in the target market over the forecast period, owing to its easy installation.

On the basis of application, the target market is segmented into residential area, healthcare area and public place. The residential area application segment is expected to register highest CAGR in terms of revenue and is expected to continue its dominance over the forecast period.

Based on the region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is estimated to account for highest share in terms of revenue over the forecast period, owing to increasing demand for multi-functional stairlifts and presence of prominent manufacturers in countries in the region. The market in North America is estimated to account for second-highest share in terms of revenue over the forecast period, owing to increasing initiatives by government in various countries in the region for spreading awareness about home and recreational safety, comparatively quicker premarket approvals, and subsidies provided in the form of medical expense tax deduction for people with disabilities and senior citizens who need stairlifts for better mobility are major factors expected to drive growth of the North America market in the near future.

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The market in Europe is expected to account for highest share in terms of revenue in the global stairlift market, expanding at a CAGR over 6% from 2017 to 2026. Increasing demand for multi-functional stairlifts and presence of prominent manufacturers with strong domestic presence in various countries in the region are major factors expected to drive growth of the Europe stairlift market. In addition, manufacturers operating in the Europe market are introducing new and innovative stairlifts that include additional features such as swivel seats, emergency stop buttons, etc., is another factor expected to fuel growth of the stairlift market in Europe. For example, ‘Home Healthsmith’ introduced a powered swivel and optional powered footplate stairlift, that can fold itself away and park itself at a charging point when it is not in use or has finished its task.

Key players operating in the global stairlift market include Acorn Stairlifts Inc., Handicare AB, Stannah Lifts Holdings Ltd., Bruno Independent Living Aids, Inc., Otolift Stairlifts, Harmar Mobility LLC, thyssenkrupp AG, Platinum Stairlifts Ltd., Meditek, Cremer Lifts Ltd., Savaria Corp., SUGIYASU Corporation, and Taicang Kanghui Technology Development Co. Ltd. – JIU YAN YANG.

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Krutika Bhoot

I have been into market research industry for last 2 years. I have a keen interest and deep knowledge of research industry. My goals in life are simple - to stay happy, healthy and to keep writing as long as I possibly can.
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