Impact Analysis of Covid-19
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Global Specialty Medical Chairs Market, by Product Type (Examination Chair (Birthing Chairs, Cardiac Chairs, Blood Drawing Chairs, Dialysis Chairs, and Mammography Chairs), Treatment Chairs (Ophthalmic Chairs, ENT Chairs, and Dental Chair), and Rehabilitation Chairs) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 5,086.1 million in 2018 and is projected to exhibit a CAGR of 6.2% over the forecast period (2017 – 2026).
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The medical chairs market growth is driven by rising number of hospitals and clinics, globally. For instance, according to American Hospital Association (AHA), an annual survey of hospitals in the U.S. showed the total number of registered hospitals in the U.S. in 2017 were 5,534. Specialty medical chairs find applications in hospitals and clinics for examination, treatment or rehabilitation purpose. However, the market growth is expected to be hampered by the high cost of these chairs. Therefore, in order to develop cost-effective specialty medical chairs, manufacturers are investing in innovation.
In Asia, various local players offer comparable performance levels as that of high-end manufacturers, at affordable costs. Major players in the market are focusing on R&D of new products, which is projected to drive the market growth over the forecast period. For instance, Fresenius Kabi spent US$ 371.9 million and US$ 367 million in 2016 and 2015, respectively on research and development activities, witnessing 5% increase when compared to the previous year. This is expected to result in rising number of new product launches during the forecast period. Moreover, A-Dec Inc., a U.S.-based company, is focused on developing complex dental chairs and dental stools that are user friendly. This is ensured by the company by integrating various features such as simple controls with innovative hydraulic lift system. This will aid in enhancing its durability, comfort, and ease of convenience for differently-abled individuals. Moreover, A-Dec Inc.’s dental chairs are highly durable, flexible, and can easily be assembled depending on specific consumer needs.
Browse 15 Market Data Tables and 18 Figures spread through 129 Pages and in-depth TOC on “Specialty Medical Chairs Market, by Product Type (Examination Chair (Birthing Chairs, Cardiac Chairs, Blood Drawing Chairs, Dialysis Chairs, and Mammography Chairs), Treatment Chairs (Ophthalmic Chairs, ENT Chairs, and Dental Chair)), and Rehabilitation Chairs) and by Region (North America, Europe, Latin America, Middle East, Asia Pacific, and Africa) – Global Forecast to 2026”
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Events such as exhibitions and conferences help in creating awareness among the population, which is expected to drive the market growth. For instance, AccessAbilities Expo 2017 is the Middle East’s dedicated exhibition for products, services, and technologies related to disabilities and rehabilitation sector. Such exhibitions also aim at motivating government authorities and private sector players to change their perception about people with special needs and disabilities, and improve their services to meet the demands of disabled people.
Key takeaways of the Specialty Medical Chairs Market:
- The global specialty medical chairs market is expected to exhibit a CAGR of 6.2% during the forecast period (2018–2026). This is attributed to rising number of hospitals and healthcare centers.
- Among product type, the rehabilitation segment is expected to account for major market share during the forecast period. This is attributed to rising prevalence of disability among geriatric population. According to the World Health Organization (WHO), around 10% of the disabled people across the globe require wheelchairs for their daily activities.
- Key players operating in global specialty medical chairs market include Danaher Corporation, Fresenius Kabi AG, A-DEC, Inc, ACTIVEAID, Inc, DentalEZ, Inc, Topcon Medical Systems, Inc., Midmark Corp., PLANMECA OY, and Hill Laboratories Company
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