Stair Lifts And Climbing Devices Market Size, Share & Trends Analysis Report By Device (Stair Lifts, Stair Climbing Wheelchairs), By End Use (Hospitals, Homecare)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Stair Lifts And Climbing Devices market gathered revenue around USD 2.1 Billion in 2020 and market is set to grow USD 4.0 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 9.1% during the prediction period 2021 to 2027.

Growth Factors:

The market is projected to witness critical growth on account of the rise in the number of injured people and increasing disability in senior adults. According to the world report on disability 2011 by the World Health Organization (WHO), about 16% of the world population is suffering from some form of disability who are in need of mobility aids, which can give independence to people and reduce pain. There are various items such as stair lifts, wheelchairs, and climbing canes that are intended to assist individuals with restricted portability to move around freely and autonomously.

The factors driving the market include the rising geriatric population and technological innovations. More than 350 million people worldwide suffer from some kind of arthritis. According to the United Nations, individuals over the age of 60 will account for more than 20% of the world's population by 2050. Due to the increased life expectancy and the increasing level of obesity, osteoarthritis is forecasted to become the 4th leading cause of global disability by 2020. The increasing integration of automation in healthcare equipment, particularly mobility devices such as stair lifts and wheelchairs, is a significant factor expected to influence market growth.

Stair lifts are ideal for some individuals, including the old, the incapacitated, and the individuals who have a drawn-out physical issue or infection. Having the option to stay at home is vital for most seniors. Indeed, research done by the American Association of Retired Persons tracked down that 90% of seniors would like to age at home rather than moving to a senior living community.

Technological advancements, like outdoor, curved, and wheelchair-incorporated lifts, are expected to boost the market growth. Sellers are probably going to positively affect the market by giving free conveyance and various financing alternatives to purchasers. The expanding accessibility of these machines in the market is projected to reinforce the interest during the forecast period.

Today, numerous individuals know about the upsides of stair lifts, which has prompted expanded demand for this versatility equipment. With trend-setting innovation, step lifts with a wide scope of helpful highlights like movable seats, collapsing step, flip-up rail, battery segregation switches, call stations, speed regulator, safety belts, delicate stop button, and so forth are currently accessible on the lookout.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Stair Lifts And Climbing Devices market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Stair Lifts And Climbing Devices market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Stair Lifts And Climbing Devices market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Regional analysis:

North America dominated the market in 2020 with a share of 44.1%. In North America, the increasing prevalence of individuals experiencing disability and technological advancements are key factors driving the market. According to a report of the United States Census Bureau in 2018, the elderly population in America will be around 1 billion by 2030. This is a large number and hence, the demand for stair lifts or climbing devices is expected to increase in the coming future.

Asia Pacific is expected to exhibit the fastest growth rate of 11.0% over the forecast period. According to the United Nations (UN) estimates, Asia Pacific is home to almost 61% of the world's 652 million disabled people. Besides, the presence of well-established market players in the region is anticipated to support the market growth.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Stair Lifts And Climbing Devices Market include:  Brooks Stairlifts; Stannah; Handicare Group; Garaventa Lift; Acorn Stairlifts; Precision Stairlifts; Bruno Independent Living Aids; ThyssenKrupp Elevator Technology; Platinum Stairlifts; American Elevator

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

• By Device
• Stair Lifts

• Straight
• Curved
• Inclined Platform
• Stair Climbing Wheelchairs
• Manual
• Powered
• Others
• By End-use
• Hospitals
• Homecare
• Others

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Highlights of the Report:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Stair Lifts And Climbing Devices market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Stair Lifts And Climbing Devices market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Stair Lifts And Climbing Devices markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Stair Lifts And Climbing Devices market Study:

• Growth of Stair Lifts And Climbing Devices in 2021
• Market Estimates and Forecasts (2017-2027)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Stair Lifts And Climbing Devices and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Stair Lifts And Climbing Devices Consumption Analysis
•  Stair Lifts And Climbing Devices Production Analysis
•  Stair Lifts And Climbing Devices and Management