Stair lift is a motorized seat that runs on a rail or a track which climbs up and down along a stair case. These devices are used primarily by individuals who are elderly, challenged by mobility issues resulting from disease or injury etc. Stair lifts are mostly intended for indoor use; however, these can also be installed in outdoor settings such as gardens, hospitals, and public places.
Persistence Market Research (PMR) offers a seven-year forecast for the global stair lifts market (2016–2024). In terms of value, the market is expected to register a CAGR of 7.0% during the forecast period. The study demonstrates the market dynamics that are expected to influence the current environment and future status of the global stair lifts market over the forecast period. It includes key trends, drivers, restraints, and opportunities influencing growth of the global stair lifts market over the forecast period. Impact analysis of key growth drivers and restraints based on the weighted average model are included in this report to better equip clients with crystal clear decision-making insights.
The global stair lifts market is segmented on the basis of:
On the basis of product type the market is segmented as follows:
“Straight stair lift segment is estimated to account for the highest revenue share of US$ 443.7 Mn in 2016 and is expected to expand at the highest CAGR during the forecast period”.
On the basis of modality the market is segmented as follows:
“Indoor modality segment is expected to witness highest CAGR of 7.2% during the forecast” period.
On the basis of mode of operation the market is segmented as follows:
“Battery segment is estimated to account for highest revenue share of 51.4% by 2016 end”.
On the basis of end user the market is segmented as follows:
“Home care settings segment is expected to witness highest CAGR of 7.2% during the forecast period”.
On the basis of region the market is segmented as follows:
“Europe and North America markets are estimated to account for 42.8 % and 31.0% revenue share in 2016 and are expected to dominate the market over the forecast period”.
Some key market participants included in the stair lifts market report include Stannah Stairlifts Ltd., Acorn Stairlifts, Inc., thyssenkrupp AG, Handicare, Bruno Independent Living Aids, Inc., Otolift Stairlifts Ltd., Harmar, Platinum Stairlifts and Prism Medical Ltd.
Key features of this report
Stair lift is a motorized seat which runs along a rail or track in home care settings or healthcare facilities. Stair lifts are powered by alternating current and also with batteries to function during the time of power outage. Stair lifts are available for straight and curved staircases and can be fully customized by the customers. Majority of people who install stair lifts are either disabled or are suffering from musculoskeletal disorders due to aging. Stair lifts are safe and easy to operate by any age group of patient population. Stair lifts which are presently available are equipped with variety of features such as swivel seat, limit sensors, safety belt or harness, handheld controller, flip-up rail , call stations and rechargeable batteries.
Common challenges facing the global geriatric population include chronic diseases, instances of falling due to vertigo and dizziness, mental deterioration, and reduced mobility caused by age-related issues. Around 92% of the global geriatric population commonly suffers from chronic diseases such as heart disease, cancer, stroke, and diabetes. According to the National Council on Aging, every 15 seconds an elderly person is treated in the emergency room as a result of falling. Stair lifts have proven to be an essential mobility devices among the geriatric and disabled population, leading to high adoption rates. Growth of the global stair lifts market is fueled by increasing awareness about accessibility and mobility devices and technological advancements in the industry.
By product type, the stair lifts market is segmented into straight stair lift, curved stair lift, and standing stair lift. Straight stair lift segment is estimated to account for highest revenue share in 2016, which is expected to increase over the forecast period. Standing stair lift segment is expected to witness sluggish growth over the forecast period due to relatively higher adoption of straight and curved stair lifts.
On the basis of modality, the stair lifts market is segmented into indoor and outdoor. Indoor modality segment is expected to witness high growth in terms of value due to increasing adoption in indoor facilities such as homes and healthcare facilities.
By mode of operation, the global stair lifts market is segmented into alternating current (AC) and battery. Battery segment is anticipated to register high CAGR over the forecast period due to ease of operation and frequent power outages in developing countries.
On the basis of end user, the stair lifts market is segmented into healthcare facilities and home care settings. Home care settings segment is expected to create robust growth opportunities owing to increasing adoption of stair lifts in home settings.
By region, the global stair lifts market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). High adoption rate of stair lifts is expected to boost growth of the stair lifts markets in Europe and North America. The U.K. market is expected to remain dominant; whereas the market in North America is expected to witness high growth rate due to increasing geriatric population and increasing technological development with regard to mobility devices by manufacturers.
Some key market participants included in the PMR’s stair lifts market report include Stannah Stairlifts Ltd., Acorn Stairlifts, Inc., thyssenkrupp AG, Handicare, Bruno Independent Living Aids, Inc., Platinum Stairlifts and Harmar.