|Specialty Medical Chairs Market to Reach USD 7.9 Bn, Globally, by 2031 at 6.8% CAGR: AMR|
|By: PR Newswire Association LLC. - 05 Oct 2022||Back to overview list
Increase in the prevalence of chronic diseases, rise in investments in R&D by pharmaceutical companies, and surge in surgical procedures for ophthalmic, dental and ENT disorders drive the growth of the global specialty medical chairs market.
PORTLAND, Ore., Oct. 5, 2022 /PRNewswire/ -- A new business intelligence report released by Allied Market Research, titled, "Specialty Medical Chairs Market by Product (Treatment Chair, Examination Chair, Rehabilitation Chair), by Type (Electric chairs, Manual chairs), by End User (Hospitals, Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021–2031." According to the report, the global specialty medical chairs industry generated $4.1 billion in 2021, and is estimated to reach $7.9 billion by 2031, manifesting a CAGR of 6.8% from 2022 to 2031.
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Prime determinants of growth
Increase in the prevalence of chronic diseases, rise in investments in R&D by pharmaceutical companies, and surge in surgical procedures for ophthalmic, dental and ENT disorders drive the growth of the global specialty medical chairs market. However, high cost of specialty medical chairs hinders the market growth. On the other hand, rise in incidence of gynecologic diseases in women and increase in demand for gynecologic examination chairs to examine pregnant women along with rise in demand in emerging economies present new opportunities in the coming years.
The treatment chair segment to maintain its lead position during the forecast period
Based on product, the treatment chair segment accounted for the highest market share in 2021, contributing to more than two-fifths of the global specialty medical chairs market, and is projected to maintain its lead position during the forecast period. Moreover, this segment is projected to manifest the largest CAGR of 7.3% from 2022 to 2031. This is due to rise in the prevalence of ophthalmic disorders and surge in the number of visits to dental clinics. The research also analyzes the segments including examination chair and rehabilitation chair.
The electric chairs segment to continue its dominant share throughout the forecast period
Based on type, the electric chairs segment contributed to the highest market share in 2021, accounting for nearly three-fifths of the global specialty medical chairs market, and is projected to continue its dominant share throughout the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 7.2% from 2022 to 2031. This is attributed to rise in demand for high-quality electronic chair and increase in awareness related to the usage of electronic wheelchair and electromechanical systems that have safety precaution settings such as actuators that lock the chair in place in the event of sudden power loss to prevent accidents. The report also analyzes the manual chairs segment.
The hospitals segment to continue its highest contribution throughout the forecast period
Based on end user, the hospitals segment accounted for the largest market share in 2021, holding nearly half of the global specialty medical chairs market, and is estimated to continue its highest contribution throughout the forecast period. In addition, this segment is projected to register the fastest CAGR of 7.6% from 2022 to 2031. This is due to increase in the number of hospitals that surge the demand for specialty medical chairs such as birthing chairs, dialysis chairs, and rehabilitation chairs that serve specific purposes depending on their application. The research also analyzes the segments including clinics and others.
North America to maintain its leadership status throughout the forecast period
Based on region, North America held the largest market share in 2021, accounting for around two-fifths of the global specialty medical chairs market, and will maintain its leadership status throughout the forecast period. This is attributed to high adoption of technologically-advanced specialty medical chairs, increase in number of private clinics and hospitals with rise in the healthcare expenditure, and the presence of key market players. However, Asia-Pacific is expected to grow at the largest CAGR of 7.8% from 2022 to 2031, owing to improvement in medical infrastructure that raised the demand for specialty medical chairs in countries such as India.
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