Specialty Medical Chairs Market Poised For Significant Growth In The Forecast Period – CAGR Is Expected To Be More Than 5% Through 2024-2028 As Per The Business Research Company’s Specialty Medical Chairs Global Market Report 2024
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LONDON, Jan. 29, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Specialty Medical Chairs Global Market Report 2024, the specialty medical chairs market has witnessed substantial growth in recent years, with the market size set to reach $4.88 billion in 2024, marking a robust Compound Annual Growth Rate (CAGR) of 6.6% from $4.58 billion in 2023. The surge in the historic period can be attributed to the increasing demands of an aging population, the prevalence of chronic diseases, expanding ambulatory care services, regulatory compliance in healthcare, and a focus on patient-centric care.
Forecasted Expansion: The trajectory of growth continues into the forecast period, with the specialty medical chairs market expected to soar to $6.07 billion in 2028, boasting a CAGR of 5.6%. Key drivers of this expansion include the rising demand for bariatric solutions, technological integration in patient care, an expanding home healthcare market, global healthcare infrastructure development, and increasing awareness of ergonomics.
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Driving Factors: Aging Population and Beyond: A significant catalyst for the specialty medical chairs market’s growth is the aging population, a demographic trend where the proportion of individuals aged 65 and older increases. This group requires specialized medical care, and specialty medical chairs cater to their unique needs. With the global elderly population projected to reach 2.1 billion by 2050, the demand for specialty medical chairs is on the rise.
Trends Shaping the Market: The forecast period is expected to witness key trends, including the adoption of height-adjustable and multifunctional chairs, a patient-centric approach, the use of sustainable and eco-friendly materials, telehealth integration, and collaborations for technological innovations.
Leading Regions: North America claimed the top spot in the specialty medical chairs market in 2023, while Asia-Pacific is anticipated to be the fastest-growing region in the forecast period.
Market Segmentation:
- By Product:
- Examination
- Treatment
- Rehabilitation
- By Technology:
- Electric
- Mechanical
- Hydraulic
- Electro-Mechanical
- Other Technologies
- By End User:
- Hospitals
- Clinics
- Other End Users
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Innovations Driving Success: Major industry players in specialty medical chairs market, including Paramount Bed Holdings Co. Ltd., Danaher Corporation, and Stryker Corporation, are focusing on pioneering solutions. For instance, IOA for Life, a healthcare furniture tracking program launched by IOA, aims to enhance the service life of medical furniture investments. This program utilizes QR codes to provide comprehensive product details, promoting sustainability and customer satisfaction.
Seizing Opportunities: To make the most of this comprehensive specialty medical chairs market report, players in the industry can leverage insights to strategize and align their offerings with market demands. Understanding trends, regional dynamics, and key drivers will empower businesses to scale and thrive in the evolving landscape of the specialty medical chairs market.
Specialty Medical Chairs Global Market Report 2024 by The Business Research Company provides insights on the specialty medical chairs market size, specialty medical chairs market segments, specialty medical chairs market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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