Stair Lifts and Climbing Devices Market to hit USD 4 billion by 2032, says Global Market Insights Inc.
Stair Lifts and Climbing Devices Industry is projected to witness a CAGR of 8.4% during the period 2023-2032 attributed to the growing need of better accessibility for physically disabled persons.
Selbyville, Delaware, Jan. 08, 2024 (GLOBE NEWSWIRE) --Stair lifts and climbing devices market size is predicted to be worth more than USD 4 billion by 2032. In an era where inclusivity and independence hold significant value, the adoption of stair lifts and climbing devices is being fueled by various factors. The growing aging population, coupled with a surge in the prevalence of mobility-related conditions, underscores the need for solutions that facilitate easy and safe access between different levels of buildings.
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Furthermore, the increasing awareness of the importance of enabling everyone to lead a barrier-free life is prompting governments and regulatory bodies to emphasize accessibility standards. This concerted effort to make public and private spaces more inclusive is propelling the demand for advanced stair lifts and climbing devices that cater to diverse user needs.
*Technology advancements to fuel uptake of stair climbing wheelchair *
The stair lifts and climbing devices market from stair climbing wheelchairs segment is emerging as a transformative solution and will significantly grow through 2032. These innovative devices are designed to empower individuals with mobility challenges to navigate staircases independently, overcoming the limitations imposed by conventional wheelchairs. By seamlessly transitioning between flat surfaces and staircases, stair climbing wheelchairs are revolutionizing the way people with reduced mobility experience their surroundings. With advancements in technology, these devices offer enhanced battery life, robust safety features, and ergonomic designs that ensure comfort and ease of use. These factors, along with wider adoption of advanced accessibility solutions will boost the segment share.
*Growing number of patients in hospitals to support industry growth*
The stair lifts and climbing devices market share from hospitals segment is expected to witness substantial progression through 2032. Healthcare institutions are recognizing the significance of providing patients, visitors, and healthcare professionals with seamless access to different levels of their facilities. Stair lifts and climbing devices play an instrumental role in ensuring that medical centers adhere to accessibility standards, enhancing patient experiences and optimizing operational efficiency.
With the integration of smart features, such as remote monitoring and diagnostics, these devices are becoming indispensable tools in the healthcare sector. As hospitals prioritize patient-centered care and strive to create accommodating environments, the adoption of stair lifts and climbing devices is becoming an integral part of their infrastructure.
*Stringent rules for accessibility in Europe to drive industry expansion*
Europe stair lifts and climbing devices market size is predicted to expand at a strong rate through 2032, owing to early adoption of advanced mobility aids. The region's stringent regulations and standards pertaining to accessibility have propelled the innovation of cutting-edge stair lifts and climbing devices. Additionally, Europe's aging population and the emphasis on social welfare have driven the demand for these solutions. Countries within the European Union have collaborated to create an environment conducive to technological advancement and regulatory compliance in the field of mobility aids.
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Some of the leading players in the global stair lifts and climbing devices market are Handicare Group AB, Bruno Independent Living Aids, Savaria Corporation, Acorn Stairlifts Inc., Stannah Stairlifts, Platinum Stairlifts, ThyssenKrupp AG, and Sunrise Medical LLC, among others. These companies are working on strategies like partnerships, mergers, and new product launches to have strong standing in the market.
For instance, in July 2022, Sunrise Medical introduced the innovative QUICKIE® ACCESS™. This knee-pivot manual wheelchair was meticulously designed to empower individuals with a solution that combines independent propulsion, tilt, and recline functionalities. With the ACCESS model, the company aims to address a range of seating challenges while fostering a sense of self-sufficiency among users.
*Partial Table of Contents (ToC) of the report:*
*Chapter 3 Stair Lifts and Climbing Devices Industry Insights*
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising geriatric population
3.2.1.2 Technological advancements in climbing devices
3.2.1.3 Increasing prevalence of various chronic diseases
3.2.1.4 Growing need of better accessibility for physically disabled persons
3.2.2 Industry pitfalls & challenges
3.2.2.1 High cost of products and poor post-sale services
3.3 Growth potential analysis
3.3.1 By device type
3.3.2 By end-use
3.4 COVID-19 impact analysis
3.5 Regulatory scenario
3.6 Technology landscape
3.7 Future market trends
3.8 Policy landscape
3.9 Porter’s analysis
3.10 PESTEL analysis
*Chapter 4 Competitive Landscape, 2022*
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Competitive positioning matrix
4.4 Vendor matrix analysis
4.5 Company market share analysis, 2022
4.6 Strategy dashboard, 2022
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*About Global Market Insights*
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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