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Global Specialty Medical Chairs Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Application, Type & Region - Industry Forecast (2023 to 2028)

Published: March, 2023
ID: 7588
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Specialty Medical Chairs Market Size (2023 to 2028)

The global specialty medical chairs market size is expected to be growing at a CAGR of 6.4% between 2023 to 2028. It is forecasted to value USD 7.39 billion by 2028 from USD 5.42 billion in 2023.

MARKET DRIVERS:

The growing prevalence of disability worldwide is one of the major factors propelling the medical specialty chairs market. Factors such as the increasing number of road accidents, meningitis, spinal cord injuries, and workplace injuries result in the incidence of disability in people and the number of people affecting with disabilities is on the rise worldwide. An estimated 1 billion people worldwide have some disability says World Health Organization and approximately 1.35 million people are killed in traffic accidents yearly. Non-fatal injuries affect an additional 20 to 50 million people, with many suffering disabilities resulting from their injuries. Every year, approximately 5.8 million people die because of injuries. Every year, approximately 1.66 million hip fractures occur throughout the world. Endoscopes are being used to treat a variety of disorders (including middle ear and mastoid disease, skull base disease, and CSF rhinorrhoea), new methods of treating chin augmentation, innovative and Low-cost tools for assessing gait and posture in the elderly, as well as robotics in head and neck surgery.

The rising prevalence of various disease treatments globally is expected to accelerate the global specialty medical chair market growth. Due to well-established healthcare facilities in developed countries. Rising use of the specialty medical chair in healthcare hospitals, clinics and rehabilitation centers worldwide, such as Birthing Chairs, Dialysis Chairs, Ophthalmic Chairs, Blood Drawing Chairs, ENT Chairs, Dental Chairs and Rehabilitation Chairs.

The growing number of advancements in the healthcare sector and the rapid adoption of advanced equipment by healthcare institutions favor the growth rate of the global specialty medical chairs market. In India, per capita, installed capacity for healthcare facilities is extremely low, making it difficult for people to receive care. As a result, even when medical care is required, Indians do not seek it. Healthcare capacity in the country is unevenly distributed, as it is with many other public services. The majority of hospitals and clinics are concentrated in urban areas, leaving the rural population underserved. Its basic infrastructure heavily influences a hospital's overall service delivery environment. This includes the physical structures (buildings) and the supporting systems and services (such as power and electricity, water and sanitation, and telecommunications) that serve as the basic operating platform for providing care. Over 500,000 technological devices and equipment are available in the medical industry that is used in hospitals and other healthcare departments.

The growing geriatric population worldwide boosts the global specialty medical chairs market. According to the World Health Organization, the world's population was about 2.8 billion in 1955 and is now around 5.8 billion. It will increase by nearly 80 million people annually, reaching approximately 8 billion by 2025. The average life expectancy at birth was only 48 years; it was 65 years in 1995, and it will be 73 years in 2025. More than 50 million people today live in countries where the average life expectancy is less than 45. More than 5 billion people in 120 countries now have a life expectancy of more than 60 years. According to WHO, the world's elderly population is growing. Between 2015 and 2050, the number of people aged 60 and up will rise from 900 million to 2 billion. The population is aging more quickly than in the past.

Additionally, factors such as the increased prevalence of Chronic disorders in older people worldwide, raising awareness about new diseases, surgery, and medical tourism globally, and growing cases of covid-19 worldwide are driving factors for the specialty medical chair market.

MARKET RESTRAINTS:

The high costs associated with specialty medical chairs primarily hamper the market growth. Poor reimbursement policies for specialty medical chairs are another major roadblock to the market’s growth rate. The limited availability of specialty medical chairs in some countries further impedes market growth. The technological complexity that some specialty medical chairs have and poor awareness among the patient population regarding the benefits of specialty medical chairs hinder market growth. Costs associated with the regular maintenance and repairs of these chairs and the competition from alternative products such as stretchers or standard examination chairs are showcasing a negative impact on the global market growth.

Impact of COVID-19 on the global specialty medical chairs market:

The COVID-19 pandemic has shown a mixed impact on the growth of the specialty medical chairs market.

On one side, the disruptions caused in the global supply chains by the COVID-19 pandemic have affected the production and distribution activities of specialty medical chairs. The COVID-19 pandemic has also resulted in the closure of manufacturing facilities and caused several challenges in logistics operations as well. These have further resulted in decreased production and delays in delivery times and showcased a negative impact on the global market growth. In addition, the COVID-19 pandemic has resulted in the postponement of elective surgeries and resulted in the decreased demand for some specialty medical chairs such as surgical chairs and tables and affected the market growth.

On the other hand, the COVID-19 pandemic has also favored the medical specialty chairs market and accelerated the market growth. The demand for specialty medical chairs has increased during the COVID-19 pandemic as healthcare organizations have used these chairs to accommodate the growing number of COVID-19 patients visiting healthcare facilities for treatment needs.

Likewise, the global medical specialty chairs market has experienced a mixed impact of the COVID-19 pandemic. However, the global market is expected to see healthy growth during the forecast period.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Covered

By Type, Application, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Invacare Corporation, A-dec, Inc., Fresenius Medical Care, Forest Dental Products, DentalEZ, ACTEVAID, Inc., Planmeca Oy, Midmark Corp., Danaher, and Hill Laboratories.

 

This research report on the global specialty medical chairs market segmented and sub-segmented into the following categories.

Specialty Medical Chairs Market – By Type:

  • Examination Chairs
    • Dialysis
    • Birthing
    • Blood Drawing
    • Mammography
    • Cardiac
  • Rehabilitation Chairs
    • Bariatric
    • Pediatrics
    • Others
  • Treatment Chairs 
    • ENT 
    • Ophthalmic
    • Others

Based on type, the examination chairs segment had the leading share of the global market in 2022 and is estimated to grow promisingly during the forecast period. The growing demand for specialized examination chairs in healthcare facilities is one of the major factors propelling segmental growth. The growing incidence of chronic diseases, rising demand for diagnostic procedures and technological advancements in examination chairs contribute to the segmental growth. The COVID-19 pandemic has further increased the demand for specialized examination chairs such as those equipped with infection control features and supported the segmental growth in the recent past and the impact of this trend is likely to continue in the coming years.

The rehabilitation clinics segment accounted for a considerable share of the worldwide market in 2022 and is predicted to grow at a healthy CAGR during the forecast period. Factors such as the growing patient population suffering from disabilities and chronic diseases, the increasing geriatric population and the rising number of outpatient rehabilitation centers primarily boost segmental growth. The growing demand for specialized rehabilitation chairs with advanced features such as adjustable seat height and backrest propel the growth rate of the segment.

The treatment chairs segment is another noteworthy segment and is expected to register healthy growth during the forecast period owing to the growing number of surgeries, technological advancements in treatment chairs and the rising demand for specialized treatment chairs for oncology, dialysis, and ophthalmology procedures. The rising demand for mobile treatment chairs with advanced features, such as wireless connectivity and remote control fuels the growth rate of the segment.

Specialty Medical Chairs Market – By Application:

  • Extended Care Units 
  • Hospitals
  • Others

Based on application, the hospital segment held the largest share of the worldwide market in 2022 and is expected to hold the dominating share of the global market throughout the forecast period. The growth of the segment is primarily driven by factors such as the growing number of hospital admissions, surgeries and medical procedures, the increasing number of hospital beds and the rising demand for specialized medical chairs in hospital settings, such as surgical chairs and examination chairs.

The extensive care units segment is predicted to witness healthy growth during the forecast period owing to the growing patient population with chronic diseases and disabilities, the rising geriatric population, the rising demand for specialized medical chairs in long-term care facilities and rehabilitation centers and rapid adoption of home healthcare services.

Specialty Medical Chairs Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

North America led the market in 2022 and the regional domination is likely to continue throughout the forecast period. The growing healthcare expenditure in North American countries is one of the major factors propelling the North American specialty medical chairs market growth. The strong presence of major market players in North America and the presence of advanced healthcare infrastructure contribute to regional market growth. The growing aging population across North America accelerates the demand for specialized medical chairs in long-term care facilities and rehabilitation centers, which favors market growth in North America. Furthermore, the growing patient population of chronic diseases such as cancer, diabetes and heart disease and the rising number of hospital admissions and medical procedures in the North American region supports the North American market growth. The U.S. captured the major share of the North American market in 2022 and this trend is expected to continue throughout the forecast period. Canada is projected to showcase healthy growth during the forecast period.          

Europe specialty medical chairs market accounted for the second biggest share of the global market in 2022 and is estimated to hold a substantial share of the worldwide market during the forecast period. Factors such as the presence of well-established healthcare infrastructure, the growing number of outpatient procedures in Europe and the rising demand for specialized medical chairs in outpatient clinics and diagnostic centers majorly drive the specialty medical chairs market in Europe. The growing focus on patient comfort and safety in Europe, the growing geriatric population, the increasing patient count of chronic diseases and the rising demand for advanced medical technologies in Europe contribute to the growth rate of the European market. Germany held the major share of the European market in 2022 and is expected to grow at a healthy CAGR during the forecast period.

APAC specialty medical chairs market is the most lucrative regional market for specialty medical chairs worldwide and is estimated to register the fastest CAGR during the forecast period. Rapidly growing population, growing healthcare spending, high prevalence of chronic diseases such as cancer, diabetes and cardiovascular diseases and growing aging population primarily propel the APAC market growth. The rising demand for home healthcare services in Asia-Pacific and rapid technological advancements in healthcare further boost the growth rate of the APAC market. China occupied the leading share of the APAC market in 2022 and is anticipated to register healthy growth during the forecast period.

Latin America specialty medical chairs market had a considerable share of the worldwide market in 2022 and is expected to grow healthy during the forecast period. The growing number of private healthcare providers in Latin America and increasing demand for medical chairs supports the Latin American market growth. Brazil is expected to gain control over a major share of the Latin American market during the forecast period.

MEA specialty medical chairs market captured a moderate share of the global market in 2022 and is predicted to grow steadily during the forecast period.

KEY MARKET PARTICIPANTS:

Some of the notable players operating in the global specialty medical chairs market profiled in this report are Invacare Corporation, A-dec, Inc, Fresenius Medical Care, Forest Dental Products, DentalEZ, ACTEVAID, Inc, Planmeca Oy, Midmark Corp, Danaher, and Hill Laboratories.

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FAQ's

Does this report include COVID-19 impact on the specialty medical chairs market ?

This report includes an in-depth analysis of how COVID-19 impacts the specialty medical chairs market.

At What CAGR, the global specialty medical chairs market is expected to grow from 2023 to 2028?

The global specialty medical chairs market is expected to grow at a CAGR of 6.4% from 2023 to 2028

Which region is growing the fastest in the global specialty medical chairs market?

The North American specialty medical chairs market region is expected to dominate the market during the forecast period.

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