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The stair lift market size is estimated to grow by USD 359.3 million, at a CAGR of 6.11% between 2023 and 2028. The market for stair lifts is bolstered by several significant factors. Firstly, there is a rising prevalence of disabilities prompting the need for accessible solutions, thereby increasing demand for stair lifts. Secondly, ongoing technological advancements continually improve safety features and enhance user experience, making stair lifts more appealing to consumers. The growth of the market in the region will be driven by factors such as the rising prevalence of chronic diseases, the strong presence of key players, the growing awareness regarding safe patient handling, and high healthcare expenditure. Thirdly, the integration of these devices into healthcare facilities to facilitate patient mobility further propels market growth. As these trends converge, the stair lift market not only addresses accessibility needs but also evolves to meet higher standards of safety, comfort, and functionality. This steady evolution underscores the pivotal role of innovation and healthcare integration in driving the expansion of the stair lift industry.
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The market share growth by the straight segment will be significant during the forecast period. Straight stair lifts provide a straight path from one level in a home to another and have a rail that can be customized to fit the length of the stairs. They are easy to install and use, which will drive the growth of the straight stair lift segment in the market during the forecast period.
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The straight segment showed a gradual increase in the market share of USD 511.20 million in 2018. Straight stair lifts are more adaptable to homes designed with narrow entrances or walkways near the bottom landing. The chairs on most straight stair lifts are designed to rotate at the top of the stairs for a safe exit. Such features will drive the growth of the straight stair lift segment in the global stair lift market during the forecast period.
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North America is estimated to account for 46% of the growth of the global market during the forecast period. Technavioâs analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Companies in the market are adopting various market strategies, such as M&A and partnerships with distributors to strengthen their market presence. For instance, in March 2021, Savaria Corp. completed its acquisition of Handicare Group AB to expand its footprint in North America. The prevalence of strict laws and regulations for safe and accessible housing in North America is also driving the growth of the regional market.
The aging population is driving an increasing demand for stairlifts and other mobility aids among disabled people in the residential segment. Specifically, curved stairlift cater to homes with unique architectural layouts, offering accessibility solutions that accommodate varying needs. Alongside wheelchairs and climbing canes, these devices provide essential support for daily activities, both indoors and outdoors. Outdoor lifts further enhance mobility, ensuring individuals have safe and convenient access to different levels of their homes or public spaces. This growing market segment reflects a broader societal shift towards inclusivity and improved quality of life for elderly and disabled populations. Manufacturers and providers are innovating to meet these specialized needs, enhancing the functionality and design of stairlifts and related products. As awareness increases and technology evolves, the focus remains on empowering individuals to maintain independence and mobility, fostering greater accessibility across residential environments.
The increasing prevalence of disabilities significantly propels the growth of the stair lift market. Rising incidents of ailments such as osteoarthritis, osteoporosis, and fractures among the elderly globally contribute to mobility-related impairments. Presently, approximately 15% of the global population faces some form of disability, with 2%-4% experiencing major functional limitations. Consequently, the escalating prevalence of mobility-related disabilities drives the demand for stair lifts.
Furthermore, advancements in healthcare technologies and accessible treatment options have extended life expectancy, resulting in a rise in the geriatric population. According to the United Nations, in 2021, there were over 747 million individuals aged 65 years or above worldwide. This demographic is more susceptible to conditions like arthritis and osteoporosis, increasing the likelihood of falls and spinal cord injuries. These factors are anticipated to further fuel the growth of the global stair lift market during the forecast period.
Growing investment in developing countries is a key trend in the market. In developing countries, there are very few opportunities for new stair lifts in residential applications. However, improvements in healthcare infrastructure in countries such as India, China, Indonesia, Brazil, and Argentina are expected to increase the adoption of stair lifts in hospitals, ambulatory surgery centers, and other healthcare facilities. The outbreak of the COVID-19 pandemic resulted in a shortage of medical services and capabilities. Therefore, the government made plans to accelerate investments in the healthcare industry.
For instance, in January 2020, the National Development and Reform Commission of China invested over USD 40 million in the construction of new healthcare facilities in Wuhan. The construction of new healthcare facilities, such as hospitals, will create new opportunities for the installation of new stair lifts. This, in turn, will fuel the growth of the global market growth and trends during the forecast period.
Pricing risk in certain markets may impede market growth. The prices of stair lift products and services may change frequently in certain markets. These variations are generally caused by several factors, such as short-term variations in demand, a shortage or surplus supply of products, uncertainty in local economic conditions, import-related regulations, and increased competition.
A quick reduction in demand can lead to overcapacity, which may lead to further pressure on prices. Thus, the high cost of stair lift products and services limits their adoption. Apart from the equipment cost, end-users need to spend additional capital on installation, maintenance, and purchase of related accessories. Moreover, the motors for operating these lifts must be replaced every 10 years. The average cost of lifting motors ranges between USD 2,400 and USD 4,000. Therefore, many end-users are reluctant to purchase stair lifts due to budget constraints. All these factors are expected to limit the growth of the market during the forecast period.
The market trends and analysis report includes the adoption lifecycle of the market research and growth, covering from the innovatorâs stage to the laggardâs stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 18 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is driven by the increasing prevalence of significant disability and the need for mobility solutions among wheelchair users. These lifts cater to daily commutes and provide accessibility within educational institutions, medical facilities, and residential settings. The market's growth is supported by primary drivers such as professional caregivers seeking to enhance patient mobility and independence. Curved stairlifts offer flexibility in navigating complex staircases, while seated and standing options ensure cost-effectiveness and meet varied activity limitations. With advancements like adjustable seats and safety features such as speed regulators and safety belts, stair lifts provide a safe and efficient means for individuals with restricted mobility to access different levels without hindrance, addressing global disability challenges with innovative solutions.
In addition, the market caters primarily to the daily commute needs of the disabled population, offering solutions like curved lifts, seated, and stand stairlifts. Brands like Merits Heal and Mobility Stairlifts serve a diverse customer base, including segments such as homecare and hospitals, supported by funding from Medicare and Medicaid. These lifts feature innovations like collapsible steps and delicate stop buttons to ensure safety and ease of use, addressing challenges posed by stairwell obstructions and high obesity rates. With options for refurbished models and various rail colors, the market provides flexible mobility alternatives, supported by advanced engineering and financing options, thereby enhancing accessibility and independence for individuals with restricted mobility.
Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.11% |
Market growth 2024-2028 |
USD 359.3 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.39 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 46% |
Key countries |
US, UK, Germany, Japan, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acorn Stairlifts Inc., Bruno Independent Living Aids Inc., Electra Taamal, Gruppo Millepiani S.p.a, Harmar Mobility LLC, HIRO LIFT Hillenkotter and Ronsieck GmbH, Lehner Lifttechnik GmbH, Lifeway Mobility, Millers Akron and LeadVenture Inc., Otolift Stairlifts Ltd., Platinum Stairlifts Ltd., Prism UK Medical Ltd., Qingdao Sinofirst Machinery Co. Ltd., Savaria Corp., Stannah Group of Co., SUGIYASU Co. Ltd., Symax Lift Holding Co. Ltd., and TK Elevator GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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