STAIRLIFTS MARKET ANALYSIS

Stairlifts MarketSize and Trends

Stairlifts Market – Market Insights

A stairlifts are also known as chair lifts or stair gliders. These are mechanical devices designed for individuals with movement disability, and help to lift them up and down the staircase. A stairlift constitutes of electrically-powered motorized seats. Stairlifts are available for straight and curved staircases and also they can be modified as per the requirement. For medical purposes in particular, stairlifts are installed for physically disabled people and individuals suffering from musculoskeletal disorders due to aging.

Increasing incidence of musculoskeletal disorder is expected to drive the market growth over the forecast period. According to the Global Burden of Disease (GBD) study, in 2017, musculoskeletal conditions were the highest contributor to global disability and around 16% of the patients lived with disability. Moreover, according to the World Health Organization report published in November 2019, the prevalence of musculoskeletal conditions varies by age and diagnosis, and 20 to 33% of the people across the globe suffered from a painful musculoskeletal condition in 2017.

Growing geriatric population who is more prone to conditions such as osteoarthritis (OA), life style disorders such as obesity, and patients with physical disabilities The rising geriatric population is a major factor that is projected to propel the market growth over the forecast period. For instance, according to United Nations report published in October 2019, there are around 703 million people in the age group of 65 or above across the globe, and it is expected to reach 1.5 billion by 2050. Moreover, according to the same source, 1 in 6 people in the world will be over the age 65 by 2050, up from 1 in 11 in 2019.

Figure 1. Global Stairlifts Market Value (US$ Mn), by Region, 2019

Source: Coherent Market Insights Analysis (2020)

Figure 2. Global Stairlifts Market Share (%), by Product Type,

Source: Coherent Market Insights Analysis (2020)