ALBANY, New York, November 2, 2015 /PRNewswire/ --
According to a new market research report published by Transparency Market Research "Specialty Medical Chairs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023" the global thyroid gland specialty medical chairs market was valued at US$3.8 bn in 2014 and is estimated to reach a market value of US$6.8 bn by 2023 at a CAGR of 6.5% from 2015 to 2023.
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Specialty medical chairs comprises wide range of medical chairs such as examination chairs, treatment chairs, and rehabilitation chairs to be used in hospitals, extended care institutions, and at home by disabled and geriatric individuals. The market for specialty medical chairs is driven by the introduction of technologically advanced medical chairs by key companies such as Stryker Corporation, Kreativ Dental Clinic and Invacare Corporation. For example, Kreativ Dental Clinic, a dental equipment manufacturer, offers KaVo Estetica Comfort 1065 T Dental Chairs. This chair is equipped with latest technology for precision dentistry and to improve patient comfort level. Introduction of technologically advanced medical chairs would increase the uptake of specialty medical chairs.
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Additionally, the market is witnessing strong growth due to consistent rise in geriatric population, growing number of hospitals and clinics, and increasing usage of rehabilitation chairs. However, growing use of refurbished medical chairs by end users such as hospitals and clinics in developing regions is expected to hamper the market growth. The specialty medical chairs market was valued at USD 3,801.4 million in 2014 and is projected to reach USD 6,758.3 million by 2023, expanding at a CAGR of 6.5% from 2015 to 2023.
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Based on product types, the global specialty medical chairs market has been segmented into examination chairs, treatment chairs and rehabilitation chairs. Examination chairs covers the market study for chairs such as birthing chairs, cardiac chairs, blood drawing chairs, dialysis chairs and mammography chairs. Among these, dialysis chairs accounted for the major share i.e. 32.6% share of the total examination chairs market. Multinational companies such as Fresenius Medical Care and Invacare Corporation offer advanced technology based dialysis chairs to customers. This is expected to increase the uptake of these chairs, thereby augmenting the market. Treatment chair comprises ophthalmic chairs, ENT chairs, dental chairs and other surgery chairs. ENT chairs market is considered as the lowest revenue generation segment owing to the low average selling price of the chairs compared to the other types of treatment chairs. Rehabilitation chairs includes geriatric chairs, pediatric chairs, toilet chairs and bariatric chairs. Chairs such as geriatric and toilet chairs collectively accounted for more than 50% share of the rehabilitation chairs segment in 2014. Rising geriatric population and increasing demand for bathroom aids are the major factors fueling the growth of the two segments.
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Based on geography, the market for specialty medical chairs market has been segmented as North America, Europe, Asia Pacific, Latin America and Middle East and Africa (MEA). Developed regions such as North America and Europe collectively accounted for majority of market share, captured almost 68% share of the total specialty medical chairs market. Rising disabled elderly population coupled with increasing demand for specialty medical chairs among end users (hospitals and extended care institutions) drives the market growth in these regions. Asia Pacific region is estimated to grow at highest growth rate owing to rising interest of key companies such as Invacare Corporation, Fresenius Medical Care and others to establish their presence in this region. Latin America and Middle East and Africa together captured more than 15% share of the total market. Improving healthcare infrastructure is expected to surge the demand for medical chairs in these regions.
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The global specialty medical chairs market is fragmented in nature in which relatively large number of companies operates in the market and no single company holds significant share or dominates the market. Companies such as DentalEZ, Fresenius SE & Co. KGaA, Activeaid, Inc., A-dec, Inc., Forest Dental Products, Inc., Marco, and Rehab Seating Systems, Inc. are some of the key players having presence in the global specialty medical chairs market.
The global specialty medical chairs market is segmented as follows:
Global Specialty Medical Chairs Market, by Product Types
- Examination Chairs
- Birthing Chairs
- Cardiac Chairs
- Blood Drawing Chairs
- Dialysis Chairs
- Mammography Chairs
- Treatment Chairs
- Ophthalmic Chairs
- ENT Chairs
- Dental Chairs
- Other Surgery Chairs
- Rehabilitation Chairs
- Pediatric Chairs
- Bariatric Chairs
- Geriatric Chairs
- Toilet Chairs
Global Specialty Medical Chairs Market, by Geography
- North America
- United States
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East and Africa (MENA)
- South Africa
- Rest of MEA
Browse All Other Medical Devices Market Research Reports: http://www.transparencymarketresearch.com/medical-devices-market-reports-6.html
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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SOURCE Transparency Market Research