As per a new report published by Fact.MR – a market research and competitive intelligence provider, the market for specialty medical chairs is anticipated to top US$ 7 Bn by 2031, and is expected to expand at a CAGR of 6% over the next ten years.
Specialty medical chairs are medical equipment that are intended for the purpose of treatment, examination, and rehabilitation. These chairs are designed according to the medical needs and comfort of patients, as well as to offer doctors better access to their patients. These devices can be manual or powered by batteries.
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An increasing number of patients requiring treatment and examination is nudging the growth of the market. Furthermore, rising geriatric population is expected to favour demand growth of specialty medical chairs for rehabilitation purposes.
Other primary factors such as innovation in the field of healthcare and acceptance of progressive equipment by healthcare establishments also drive the growth of the industry. In fact, the advent of technically developed and fully autonomous medical chairs is projected to provide attractive prospects for the industry.
Key Takeaways from Market Study
- The global market for specialty medical chairs was estimated at 5 Bn in 2020, and is anticipated to top 7 Bn by 2031.
- North America accounts for 44% revenue share in the market for specialty medical chairs.
- Key factors that are boosting market growth include increasing aging population, rising number of dental, ophthalmic, and ENT clinics, and advanced healthcare infrastructure.
- Rehabilitation chairs account for 41% market share.
- Demand for treatment chairs anticipated to expand at a CAGR of 8% over the next ten years.
- Demand for specialty medical chairs in the U.S topped US$ 1.4 Bn in 2020.
“Increasing technological product innovation will raise demand for specialty medical chairs in the healthcare industry over the coming years,” says a Fact.MR analyst.
Winning Strategy
Key players are investing in this market due to its high growth potential. Most of the established companies are focusing on mergers & acquisitions, new product development, collaborations & partnerships, and expansion strategies to strengthen their market position.
Many companies are investing in R&D projects for technological advancements and product innovation. These will drive the growth of the market in the long run.
Key players are also focused on offering tailor-made chairs to meet the needs of patients and clinicians for the examination and treatment of various diseases, thus driving market growth. Increasing reimbursement policies and supporting regulatory framework are also fuelling overall market growth.
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the specialty medical chairs market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of product (examination, treatment, and rehabilitation) and application (hospitals, clinics, and ambulatory surgical centres), across major regions of the world (North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa).
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Research Insight: https://www.factmr.com/report/specialty-medical-chairs-market
Press Release: https://www.factmr.com/media-release/2148/global-specialty-medical-chairs-trends
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