The global specialty medical chairs market has been foreseen by Transparency Market Research (TMR) to cover companies that could focus on the expansion of their distribution networks. Companies could be making efforts to strike tactical alliances with extensive distributors, private clinics, and multispecialty clinics. In the foreseeable future, companies have been anticipated to secure a strong foundation for increased sales in the global market by widening their distribution networks in order to extend their geographical foothold. DentalEZ, ACTIVEAID, Inc., and Fresenius SE & Co. KGaA could be among the leading companies in the market.
According to TMR, the global specialty medical chairs market could be worth a US$6.75 bn by the end of 2023 while expanding at a 6.5% CAGR during the forecast timeframe 2015–2023. By product, rehabilitation chairs could be among the top markets. Regionally, North America could clasp a greater share for medical specialty chairs in the coming years while rising at a 6.8% CAGR.
Healthcare Facilities at Brink of Innovative Transformation Offer Growth
The world specialty medical chairs market has been prophesied to bear a positive impact with healthcare facilities in developing regions being on the cusp of revolution. The market could embrace a propelling growth on the back of the need for the customization of specialty medical chairs in order to address the specific requirements of both medical practitioners and patients. A vast count of vendors have been expected to design specialty medical chairs that could answer the clinical needs of patients, such as those pertinent to cardiac problems, obesity, and pregnancy. The growth of the market could be further improved with the emergence of specialty medical chairs that offer enhanced comfort and more competitive technologies.
The perpetual increase in geriatric population has been predicted to augur well for the world specialty medical chairs market as it garners an optimistic impetus. In comparison with the younger population group, geriatrics have been studied to be extensively vulnerable to a wide scope of physical disabilities as well as chronic diseases. As per the statistics of the WHO, by 2050, the geriatric population could increase to a 1.5 bn. This has been expected to provide a strong boost to the market.
Extortionate Cost of Modern Products Discourages Further Investment
Modern medical specialty chairs incurring an exponential expenditure have been envisaged to stunt the growth of the market. This could be supported by the refusal of governing authorities and medical organizations to investment in first-class medical specialty chairs. Furthermore, the swelling trend of renewing old products has been projected to put a roadblock in the growth path of the international medical specialty chairs market.
However, industry players have been prognosticated to rake in a growing demand that could ride on cosmic investments made by governments in developing economies to upgrade medical infrastructure. A TMR report has suggested investments in Asia Pacific and Latin America countries such as India, China, and Brazil to reap ample of benefits birthing from economic improvement. Besides emerging economies, developed regions such as North America could create opportunities with the strong presence of ophthalmic, dental, and ear, nose, and throat (ENT) clinics.