Lift chairs are a distinctly modern invention that originates from the needs and mobility challenges of our aging population. A lift chair is a medical equipment that leaves its base, gradually transports the user to a standing position and also descends safely into a sitting position. It can be used in an upright position or with a push of a button in different angles. There is adequate floor space below the front of the chair which helps the users find their center of gravity after standing up. The sole purpose of a lift chair is to lift a person to a standing position or to facilitate him/her in a sitting position without harm. It is designed to look and feel like a recliner so that it offers maximum comfort while mixing with the patient’s home furniture.
Lift Chair Market: Drivers and Restraints
The global lift chair market size is estimated to be worth USD 34.20 billion by 2025. The growing aging population and changing demographics are the main factors driving the global lift chair market growth. In the coming years, technological advances, improved functionality of modern lift chairs, high adaptability of modern designs among young people and increasing purchasing power are expected to impact the global lift chair market demand.
Based on type, 3-position lift chair is projected to grow at a CAGR of 7.3% during the forecast period. 3 position lifting chairs can be placed in the sitting position, 15 degree reclining position, 45 degree reclining position and up position. These three positions offer a lot of versatility. The price of a 3-position elevator chair is generally lower than that of an infinite position lift chair. They also offer the advantage of reclining to 180 degrees (perfectly flat), thus, offering comfort over longer period of time. Some of these chairs also include backup power sources so that it can be used during power outage. These factors have propelled the demand for 3-position lift chairs across the globe.
Request A Sample Copy Of This Research Report: https://www.adroitmarketresearch.com/contacts/request-sample/756
Household dominated the global lift chair market in 2017 and is projected to be the fastest growing application in the near future with an estimated market share of 84.3% by 2025. People who struggle with leg or back weakness benefit from lift chairs as it promotes independence by allowing them to stay at home without the help of others to stay active and move. Lift chairs have an enormous impact not only on people with physical disabilities, but also on their families. Another factor that increases the demand for the lift chair market in household applications is increasing government support to provide financial assistance for mobility aid. For instance, medical and assistive devices are exempted from Harmonized Sales Tax (HST), though lift chairs require a written prescription from a medical practitioner. The medical coverage provided by various governments have created enormous potential for lift chair market growth in household segment across the globe.
Lift Chair Market: Segmentation
The lift chair market is segmented based on type, end-use industry, and regions.
Type Overview, 2015-2025 (USD Million)
- 2-position lift chair
- 3-position lift chair
- Infinite position lift chair
- Zero gravity position lift chair
End-Use Industry Overview, 2015-2025 (USD Million)
Else place an Inquire before Purchase “Lift Chair Market Size, Status and Forecast 2025: https://www.adroitmarketresearch.com/contacts/enquiry-before-buying/756
Lift Chair Market: Overview
Lifting chairs offer positive medical benefits for people with chronic medical conditions along with therapeutic relaxation. This can help conserve energy, reduce pain and improve overall function. They help to reduce the amount of pressure and stress on the knees, back, and elbows, keeping arthritis from acting up when attempting to get up or sit down. In populous Asian countries such as China and India, because of the sheer number of older people, there are even greater challenges. In China, the population of people over 65 is expected to jump from 8% to 24% in just 30 years which further creates opportunities for the lift chairs market. Increasing disposable income and continuous R&D activities by key players in the development of innovative products are other factors that are expected to augment the global lift chair market growth during the forecast period.
Lift Chair Market: Regional Outlook
North America is projected to generate sales more than USD 10 billion by 2025. The US is expected to hold major lift chair market share in North American region. The increasing aging population in the US is one of the primary factors surging the lift chair demand in the region. Elderly and long-term care quickly become one of the most disastrous challenges in healthcare. According to the Population Reference Bureau report, the number of Americans over 65 years of age are expected to double from approximately 50 million today to almost 100 million by 2060. This has necessitated the need for lift chairs as mobility and independence are essential for elderly to live a high quality life. This factor has led to the increased demand for lift chairs in the region. Rapid advancements in healthcare infrastructure in the region has also contributed towards the regional growth. Furthermore, the introduction of innovative products by the key players is driving the global lift chair market growth in the region.
Lift Chair Market: Key Players
The competitive landscape of the global lift chair market is characterized by a large number of players with global presence. The key players covered in the global lift chair market report includes Franklin Corporation, Pride Mobility, Jackson Furniture, Golden Technologies, Med-Lift, La-Z-Boy, Ashley Furniture, Ultimate Power Recliner, Best Chairs, Inc., and Seminar Components among others.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Middle East and Africa
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Report Analysis @ https://www.adroitmarketresearch.com/industry-reports/lift-chair-market