The global specialty medical chairs market size is expected to reach USD 6.05 billion by 2028 registering a CAGR of 7.5%, according to a new report by Grand View Research, Inc. Increasing geriatric population is one of the major factors boosting the product adoption. As per the WHO, it is estimated that from 2025 to 2050, the older population is expected to almost double to 1.6 billion globally. According to The World Bank, the population in the Asia Pacific region is aging rapidly.
Key suggestions from the report:
- The rehabilitation product segment held the dominant share of over 40% in 2020 owing to rise in the geriatric population
- In 2020, dialysis chairs held the largest share in the examination product segment owing to the increased prevalence of chronic kidney diseases and rise in funding to centers for better equipment
- The treatment product segment is anticipated to register the fastest CAGR over the forecast period as these products are required for carrying out various treatment procedures, such as dental, and offer better comfort to patients during these procedures
- Asia Pacific is anticipated to be the fastest-growing regional market from 2021 to 2028 owing to improving healthcare infrastructure, growing geriatric population, and rising disposable income levels
Read 120 page research report with ToC on “Specialty Medical Chairs Market Size, Share & Trends Analysis Report By Product (Examination Chairs, Treatment Chairs, Rehabilitation Chairs) By Region, And Segment Forecasts, 2021 – 2028” at: https://www.grandviewresearch.com/industry-analysis/specialty-medical-chairs-market
More than 211 million people aged 65 years and above were living in East Asia and Pacific in 2010. The older population is expected to grow by 22% every five years in East Asia. This shows the potential demand for geriatric chairs in the coming years. The rising prevalence of lifestyle-associated diseases, such as diabetes, obesity, chronic kidney disease, and Cardiovascular Diseases (CVDs), is also expected to augment the product demand. Furthermore, rising cases of paralysis and spinal injuries are anticipated to contribute to the market growth.
Increasing reimbursement policies and supportive regulatory frameworks in developed nations are also pushing the market growth. For instance, Medicare policies in the U.S. offer reimbursement for equipment, such as wheelchairs, recliners, and others. In addition, key market players are offering customized products to meet the various needs of doctors and patients. Rising demand for new, easy-to-use products with better facilities is expected to provide lucrative opportunities to the market participants.
The examination and treatment rate at dental, ophthalmic, and gynecology clinics has decreased significantly, which can be attributed to the lockdown imposed in various Asian countries due to the pandemic and growing preference for online consultations. Various domestic and international companies are facing major challenges in Japan and China due to the pandemic and the aftermath is expected to continue until the second half of 2021.
Moreover, the healthcare resources are currently directed toward essential medical devices and supplies. It is believed that the outbreak will lead to many changes, including preferences of the general public, leading to a decline in product demand. However, major countries in Asia, such as China and South Korea, are on a steady path to recovery. According to the Asian Development Bank, China’s growth is expected to rebound by about 7.3% by 2021.
Grand View Research has segmented the global specialty medical chairs market on the basis of product and region:
- Specialty Medical Chairs Product Outlook (Revenue, USD Million, 2016 – 2028)
- Blood Drawing
- Specialty Medical Chairs Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
- South Africa
- Saudi Arabia
- North America
List of Key Players of Specialty Medical Chairs Market
- A-dec, Inc.
- ActiveAid, Inc.
- DentalEZ, Inc.
- Fresenius Medical Care AG & Co. KGaA
- Topcon Corp.
- Midmark Corp.
- Danaher (KaVo Dental GmbH)
- Dentsply Sirona
- Planmeca Oy
- Hill Laboratories Company
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