LIFT CHAIR MARKET REPORT OVERVIEW
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The global lift chair market size expanded rapidly in 2021 and the market is projected to grow substantially by 2031, exhibiting a prodigious CAGR during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the lift chair market experiencing higher-than-anticipated/lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
A lift chair is an adjustable seat chair. The chair is useful to the infirm, elderly, or disabled. It helps to lift up position where the chair supports forward and up to push the sitter into the standing position. The chairs are ideal for those who find it difficult to stand up from a chair. The chair is used for those who has severe arthritis in the hips or knees.
Growing aging population in worldwide and increased accidents is the main factors that boost the demand for lift chairs. The chair offers support to stand who is unable to stand. It is mostly used by the obsess and injured people. The chair helps to reduce the amount of stress and pressure on knees, back, and elbow. It helps to balance the pressure and stress of the body. The chair is used to prevent further injuries, which is predicted to surge market growth in the upcoming years. The chair is easy to use and effective. Further, growing awareness about physical fitness and huge demand to reduce back and leg pain is estimated to flourish market progress. Increased government supports and increased financial assistance for mobility is anticipated to boost market growth. Expanded need for the chair in the residential sector is predicted to surge market progress. Increased spending capacity and rise in disposable income. Huge technological development and rapid healthcare development is predicted to drive market growth. On the contrary, higher cost of the chair is anticipated to limit market growth in the upcoming years.
COVID-19 Impact: Halt in Import and Export Activities to Reduce Market Growth.
The global outbreak of COVID-19 pandemic affected market growth. The shutting of several manufacturing units and unavailability of worker’s hamper market growth. Halt in import and export activities to reduce market growth. The market experienced disruption in supply and chain. On the other hand, huge awareness about advanced digitalization and rapid growth in healthcare sector is estimated to recover market over the estimated period.
LATEST TRENDS
"Several Advantages of the Chair to Surge Market Progress"
The advantages of the chair are far beyond the ability to aid in sitting down and standing comfortably. It comes with massage and optional heat capabilities. The advanced features provide therapeutic to people with aching joints, stiff, back discomfort, and arthritis. The chair offers heat and massage therapy. These advanced features of the chair are anticipated to attract more consumer. Increased spending capacity and rise in disposable income is predicted to surge lift chair market growth in the upcoming years.
LIFT CHAIR MARKET SEGMENTATION
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- By Type
Based on type, the market is divided into elderly, obese, and handicapped.
Elderly is expected to be the top part of the type segmentation
- By Application
Based on the application, the market is divided into household, commercial, and healthcare.
Household is expected to be the top part of application segmentation.
DRIVING FACTORS
"Growing Elderly Population to Boost Market Progress"
Growing aging population in worldwide and increased accidents is the main factors that boost the demand for lift chairs. The chair offers support to stand who is unable to stand. It is mostly used by the obsess and injured people. The chair helps to reduce the amount of stress and pressure on knees, back, and elbow. It helps to balance the pressure and stress of the body. The chair is used to prevent further injuries, which is predicted to surge market growth in the upcoming years. The chair is easy to use and effective. Further, growing awareness about physical fitness and huge demand to reduce back and leg pain is estimated to flourish market progress in the upcoming years.
"Rapid Development in Healthcare Sector and Government Initiatives to Accelerate Market Growth "
The growing development in healthcare sector and technological advancement is predicted to fuel market growth. High adoption of the chair for its contemporary designs and huge demand for the product among physicians, scientists is anticipated to accelerate market growth. . The chair is useful to the infirm, elderly, or disabled. It helps to lift up position where the chair supports forward and up to push the sitter into the standing position. The chairs are ideal for those who find it difficult to stand up from a chair. The chair is used for those who has severe arthritis in the hips or knees. Further, increased government supports and increased financial assistance for mobility is anticipated to boost market growth. Expanded need for the chair in the residential sector is predicted to surge market progress.
RESTRAINING FACTORS
"Expensive Price of the Chair to Limit Market Growth"
The higher cost of the chair is anticipated to limit market growth in the upcoming years.
LIFT CHAIR MARKET REGIONAL INSIGHTS
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"Increased Number of Obese Population and Rise in Technological Advancements in North America to Drive Market Share "
North America is estimated to dominate lift chair market share owing to increased number of obese population. Growing old people in the region and huge development in the healthcare sector. Rise in technological development is predicted to drive market growth. Increased number of accidents in the region. Further, increased medical coverage offered by several governments in the region is predicted to fuel market growth in the upcoming years. Further, growing awareness about physical fitness and huge demand to reduce back and leg pain is estimated to flourish market progress. Increased government supports and increased financial assistance for mobility is anticipated to boost market growth. Expanded need for the chair in the residential sector is predicted to surge market progress.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Pride Mobility (U.S.)
- Golden Technologies (U.S.)
- Franklin Corporation (U.S.)
- Med-Lift (U.S.)
- La-Z-Boy (U.S.)
- Jackson Furniture (U.S.)
- Best Chairs (U.S.)
- Ashley Furniture (U.S.)
- Seminar Components (U.S.)
- Mega Motion (U.S.)
- Home Meridian (U.S.)
- Palliser (Canada)
- Dromedar (U.S.)
- Avafurn
- Meifeilai
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
Frequently Asked Questions
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What is the leading region in the lift chair market?
The leading region in the lift chair market is North America.
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What are the driving factors help pushing the lift chair market?
The drivers of the lift chair market are growing elderly population and rapid development in healthcare sector and government initiatives.
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Which are the key player or most dominating companies functioning in the lift chair market?
Pride Mobility, Golden Technologies, Franklin Corporation, Med-Lift, La-Z-Boy, Jackson Furniture, Best Chairs, Ashley Furniture, Seminar Components, Mega Motion, Home Meridian, Palliser, Dromedar, Avafurn, and Meifeilai are the key player or most dominating companies functioning in the lift chair market.
