US Accounted for Major Market Share in The Stairlift Market with 32.51% in 2016
Posted on July 17, 2017 at 11:19 am | | Khyama
In 2016, the stairlift market in US accounted for 32.51% market share driven by improved healthcare facilities and availability of efficient and innovative stairlift products. The market in US is also driven due to increase in lifestyle-related diseases and reimbursement in insurance infrastructure.
According to a recently published report by Beige Market Intelligence, the global stairlift market is likely to witness tremendous growth during the forecast period 2016–2022. The analysts say that the market is expected to grow at an impressive CAGR of more than 8% during the forecast period. The 104-page report titled “Global Stair Lift Market – Strategic Assessment and Forecast 2017-2022” provides detailed insights about the global stairlift market.
Major drivers for this growth are aging population, increased incidence of lifestyle diseases such as obesity, and rise in osteoarthritis among aging population. The demand is also driven due to innovation and product development, resulting in a broad range of customized offerings that are not only turning out to be ergonomic in design and installation but also are offering better functionality and safety features at nominal prices.
The report provides a holistic view of the market share of leading segments, major regions contributing significant revenue to the global market and also offers a detailed scenario of the expected market size and growth in different region.
Stairlift Market in North America
The demand for stairlifts in the North America region is majorly driven by high awareness, better product availability, and extensive reach of innovative products. The same is also further reinforced by the presence of connected and sophisticated delivery and distribution network.
The stairlift market in North America ranks ahead of others in terms of innovation and standards in the region and paves well for product development and market structure, wherein the competition is limited and is often termed to be more based on customer centricity, range and service, and low price.
Stairlift Market in US
The US is the largest market in terms of revenue generated not only for the stairlift market but also for the mobility-assistance and devices market.
Rising geriatric population and increasing incidence of disability and obesity in the US are major factors driving the demand for mobility-assisting equipment in the region. Also, the presence of leading manufacturers of mobility-assisting equipment, including wheelchairs, mobility scooters, chair lifts in the region further contributes to the growth of the market in the region.
The stairlift market has started to take off as the inevitable wave of baby-boomers begins to expand. As the market for general mobility devices, including wheelchairs and mobility scooters starts to grow, the market has not only turned to be lucrative for growth but also invite the entry of new vendors, who, in turn, start to innovate on various other mobility devices, including platform lifts, power chair lifts, stairlifts, and residential escalators.
The report also includes top trends, growth driving factors and leading players in the market.
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