Innovation, Safety, and Transformation influencing Global Stairlift Market | Arizton
The global stairlift market is expected to grow at a CAGR of over 8% during the period 2019-2025.
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Manufacturers are on the path of revolutionizing stairlifts. They are engaged in offering new and mobility solutions. The growing demand for an enhanced experience with consistency in quality is expected to develop several innovative stairlifts to enhance mobility among the disabled or elderly population both in outdoor and indoor spaces. While stairs at home are expected to pose as a hindrance for individuals to move around, the deployment of stairlifts at-homes is emerging as cost-effective and efficient solutions, thereby enabling them to lead an independent lifestyle.
The leading drivers and trends driving the growth of the global stairlift market are discussed below:
Increase in Life Expectancy Rates
Over the next few years, the world population aged above 60 years is expected to grow significantly. One of the major factors is the development of proficient and state-of-the-art medical care. The development of healthcare provisions, coupled with advances in technology, is expected to propel the healthcare industry. This has further resulted in a decline in the mortality rate globally, leading to an increase in the aging population across the world. According to the UN report, the proportion of individuals above the age of 60 is expected to approximately double, thereby reaching nearly 2.1 billion by 2050. Hence, with the high proportion of elderly people, the global stairlift market is expected to witness growth. In addition, with the prevalence of lifestyle diseases, such as obesity and osteoarthritis, is expected to grow among individuals, the demand for mobility technology, which offers ease and flexibility, is likely to grow.
Promotion of Active and Independent Living among Elders and Disabled People
The trend of promoting stair lift-assisted mobility among the elderly and disabled population by several associations and government organizations is expected to increase across the world. With independent mobility for disabled is considered as a human right, several regulatory bodies are focusing on introducing essential assistive mobility technology. Well-designed, high-quality assistive devices or daily living aids support independent living for disabled, seniors, or those with injuries or medical conditions. These devices are engaged in promoting independence among individuals by equipping them to perform the tasks, which, otherwise, they were unable to perform or had difficulty to accomplish. Profound usage of this accessibility equipment is engaged in empowering the impaired individuals to handle different aspects of their daily lives, thereby favorably impacting and enhancing the overall quality of life and independence of the same.
Modernization, Novelty, and Safety to Drive Product Development
Nearly 15% of the total world population is suffering from one or other forms of disabilities, with the number of these disabilities being the highest in developing countries. In addition, about one-fifth of the total estimated population is suffering from major disabilities. The integration of improved and new safety features is expected to make stairlifts modern and safe, thereby increasing the demand among users. The inclusion of speed limiters, sensors, and pressure-sensitive controls is expected to enhance customer experience, which is likely to bolster the development of innovative techniques to increase mobility among disabled or elderly individuals both in outdoor and indoor spaces.
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Acorn Stairlifts, Bruno Independent Living Aids, Handicare Group, ThyssenKrupp Elevator Technology, and Stannah are identified as prominent vendors in the global stairlift market.
The complete overview of the latest market research report on the global stairlift market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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