Global Lift Chair Market 2019 Analysis by Trends and Top Key players - Franklin Corporation, Pride Mobility, Jackson Furniture, Golden Technologies, Med-Lift, La-Z-Boy, Ashley Furniture, Ultimate Power Recliner, Best Chairs, Seminar Components and others

Global Lift Chair Market Overview:

Global Lift Chair Market report is a professional and in-depth study on the market overview, market dynamics, competitive analysis, and leading player’s various strategies to sustain in the Global Lift Chair Market

The global lift chair market size is estimated to be worth USD 34.20 billion by 2025. The growing aging population and changing demographics are the main factors driving the global lift chair market growth. In the coming years, technological advances, improved functionality of modern lift chairs, high adaptability of modern designs among young people and increasing purchasing power are expected to impact the global lift chair market demand.

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Market Segment by Companies, this report covers:
• Franklin Corporation
• Pride Mobility
• Jackson Furniture
• Golden Technologies
• Med-Lift
• Ashley Furniture
• Best Chairs, Inc.
• Seminar Components

Based on type, 3-position lift chair is projected to grow at a CAGR of 7.3% during the forecast period. 3 position lifting chairs can be placed in the sitting position, 15 degree reclining position, 45 degree reclining position and up position. These three positions offer a lot of versatility. The price of a 3-position elevator chair is generally lower than that of an infinite position lift chair. They also offer the advantage of reclining to 180 degrees (perfectly flat), thus, offering comfort over longer period of time. Some of these chairs also include backup power sources so that it can be used during power outage. These factors have propelled the demand for 3-position lift chairs across the globe.

Household dominated the global lift chair market in 2017 and is projected to be the fastest growing application in the near future with an estimated market share of 84.3% by 2025. People who struggle with leg or back weakness benefit from lift chairs as it promotes independence by allowing them to stay at home without the help of others to stay active and move. Lift chairs have an enormous impact not only on people with physical disabilities, but also on their families. Another factor that increases the demand for the lift chair market in household applications is increasing government support to provide financial assistance for mobility aid. For instance, medical and assistive devices are exempted from Harmonized Sales Tax (HST), though lift chairs require a written prescription from a medical practitioner. The medical coverage provided by various governments have created enormous potential for lift chair market growth in household segment across the globe.

Reasons for the study

• The purpose of the study is to give an exhaustive outlook of the global lift chair market
• While studying the market, we observed that 3-Position Lift Chair is projected to grow at the fastest rate owing to the advantage of reclining to 180 degrees, thereby, offering comfort over longer period of time.
• The global lift chair market has been mainly driven by the increasing aging population.
• The household application is projected to witness fastest growth in the coming years as it promotes independence by allowing people to stay at home without the help of others to stay active and move.

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North America is projected to generate sales more than USD 10 billion by 2025. The US is expected to hold major lift chair market share in North American region. The increasing aging population in the US is one of the primary factors surging the lift chair demand in the region. Elderly and long-term care quickly become one of the most disastrous challenges in healthcare. According to the Population Reference Bureau report, the number of Americans over 65 years of age are expected to double from approximately 50 million today to almost 100 million by 2060. This has necessitated the need for lift chairs as mobility and independence are essential for elderly to live a high quality life. This factor has led to the increased demand for lift chairs in the region. Rapid advancements in healthcare infrastructure in the region has also contributed towards the regional growth. Furthermore, the introduction of innovative products by the key players is driving the global lift chair market growth in the region.

Key segments of the global lift chair market

Type Overview, 2015-2025 (USD Million)
• 2-position lift chair
• 3-position lift chair
• Infinite position lift chair
• Zero gravity position lift chair

End-Use Industry Overview, 2015-2025 (USD Million)
• Household
• Hospital

Regional Overview, 2015-2025 (USD Million)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o Rest of Europe
• Asia Pacific
o China
o Japan
o Rest of APAC
• Latin America
• Middle East and Africa

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