With the emergence and long-term Impact of COVID-19, Global Stair Lifts and Climbing Devices Market to reach USD 3.1 Billion by 2027
Bizwit Research & Consulting LLP’s Recent Analysis on Global Stair Lifts and Climbing Devices Market is poised to raise up to USD 3.1 Billion by 2027. Stairlifts, stair elevators or stair climbing wheelchairs are called as the contemporary mobility aids that are designed to help people who face such mobility and accessibility issues or for the physically disabled people and for the people who are suffering with major heart disease. A stairlift is basically a motor-powered wheelchair on rails. Increasing number of osteoporosis diseases in the aging population and increase in per capita disposable income as well as increasing technological innovations are factors driving the growth of the market. Increasing trend of being fit and awareness towards health and well-being among consumers avoids the lifts and easy climbing equipment is hampering the growth of the market. However, increasing number of obesity cases and the growing elderly population, increasing integration of automation in healthcare equipment and growing efforts from governments and private organizations will result in the growth of the market in forthcoming period.
Geographically, the Global Stair Lifts and Climbing Devices market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominates the global stair lifts and climbing markets. The main factors include increasing disposable incomes, coupled with the changing lifestyles of consumers. The growing geriatric population is expected to fuel the demand for high-end home care technology, thereby increasing the demand for stair lifts and climbing devices.
The Global Stair Lifts and Climbing Devices market is highly competitive owing to the presence of several key manufacturers such as Acorn Stairlifts, Bruno Independent Living Aids, Handicare Group, ThyssenKrupp Elevator Technology, Stannah, Hiro Lift, American Elevator, AmeriGlide, Ascent Mobility, Bespoke Stairlift and others.
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Key findings of the study suggest:
- Global Stair Lifts and Climbing Devices Market is anticipated to grow with a healthy growth rate of more than 8.9% over the forecast period 2021-2027.
- In the Type segment, Stair Lifts emerged out as the leading market segment in 2020.
- In the End-user segment, Hospitals emerger out as the leading market segment in 2020.
- Asia Pacific is anticipated to drive regional growth include increasing disposable incomes, coupled with the changing lifestyles of consumers.
- North America is expected to grow at higher rate followed by Asia Pacific during 2021-2027.
Bizwit Research & Consulting has considered following segments for the study:
- Stair Climbing Wheelchairs
- Stair Lifts
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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