The global stair lift market is likely to cross US$1.7 billion, growing at a CAGR of 8.4% during 2016-2022. Major drivers for this growth are aging population, increased incidence of lifestyle diseases such as obesity and large tracts of age groups reporting osteoarthritis. The demand is also on the rise due to innovation and product development, resulting in a broad range of customized offerings that are not only turning out to be ergonomic in design and installation but also are offering better functionality and safety features at nominal prices.
The report provides a holistic view of the global market, the companies involved in the market, and the factors driving its growth. It also provides information about the latest trends that have emerged and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further the report also provides complete value chain analysis of the global market.
Stair lift Market: Key Vendor Analysis
The market holds high growth prospects for vendors.
The market can be termed as attractive due to the growth prospects it holds. However, the market opportunity can be termed to be small to accommodate many players and large enough for the existing vendors to scale up. The competition among vendors is often termed to be in terms of diversity of functional offerings and market reach rather than price.
Major vendors in the market are Acorn, Bruno Independent Living Aids, Stannah, Handicare, ThyssenKrupp AG.
Other vendors include Platinum Stair lifts, Harmar, Otolift, MediTek, Savaria, Sugiyasu, DID - Daido, Kumalift, Hiro Lift, and Access BDD.
Stair Lift Market Dynamics
Inclination of aging and disabled population toward active and independent living to drive the market growth.
Increased emphasis of government and private organizations for productive and active lifestyle for disabled population is one of the emerging trends for the growth of the market. Further, increasing prevalence of people suffering from disabilities, coupled with the high adoption of devices, new technology innovations, and high awareness for new variants of assistive devices, combined with supportive government grants is driving the market growth.
Stair Lift Market: Segmental Overview
The seated lift segment to post a CAGR of 9.7%.
Seated stair lifts, which host a provision for comfortable seating for the end-user, are the most preferred types, constituting as much as 72.25% of the total market revenue in 2016. The growth of seated stair lift outperforms perched lifts, which is characterized by safety concerns. However, stair lifts with integrated wheelchair platforms are growing at a faster pace as they offer better self-control to the user during mobility. The market for with integrated wheelchair platforms market is estimated to grow more than $214 million by 2022, growing at a CAGR of 8.8% during the forecast period.
In terms of installation type, the indoor stair lift market is expected to reach to a significant number than outdoor. Similarly, by end-user segment, the residential segment is by far the largest segment by demand as there are no better cost-effective alternatives to stair lift for in-house mobility between multiple floor levels. The marginal utility of stair lifts in residential spaces is high, driven by low usage, long lifecycles, and easy installation and maintenance.
Stair Lift Market: Geographical Analysis
The US to remain the largest market in terms of revenue.
This report considers four major regions: APAC, Europe, North America, and RoW. It also provides the market size and growth in major countries along with the driving factors, trends, and restraints.
The US is the largest market in terms of revenue generated not only for the stair lift market but also for the mobility-assistance and devices market. Rising geriatric population and increasing incidence of disability and obesity in the US are major factors driving the demand for mobility-assisting equipment in the region. Also, the presence of leading manufacturers of mobility-assisting equipment, including wheelchairs, mobility scooters, and chairlifts in the region further contributes to the growth of the market in the region.
The UK is the largest market in Europe followed by Germany and the Netherlands; wherein there is a high ownership of mobility-assisting equipment and devices among the disabled and elderly population. Also, APAC is expected to grow at a faster rate driven by continually improving healthcare infrastructure and expanding target audience in key economies of India and China.
2 Research objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Rail Orientation
4.3.2 Market Segmentation by User Orientation
4.3.3 Market Segmentation by Installation Type
4.3.4 Market Segmentation by End-user Type
4.3.5 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Currency Conversion rate
5.2 Market Derivation
6 Market at a Glance
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Increased Adoption of Stair Lifts by Disabled and Geriatric Patient Population
8.1.2 Financial Assistance for Stair Lifts in Home Modification
8.1.3 Medicaid and Private Insurance Enabling Expenditure on Stair Lifts
8.1.4 Inclination of Aging and Disabled Population toward Active and Independent Living
8.2 Market Restraints
8.2.1 High Purchase, Installation, and Maintenance Cost of Stair Lifts
8.2.2 Perceptual Barriers Deterring User Experience
8.2.3 Presence of Less Expensive Alternatives to Stair Lifts
8.3 Market Opportunities & Trends
8.3.1 Increased Emphasis of Government and Private Organizations for Productive and Active Lifestyle for Disabled Population
8.3.2 Better Knowledge of Mobility Equipment among Disabled and Elderly Population
8.3.3 Substantial Growth in Second-hand Market for Stair Lifts
8.3.4 Modularity, Safety, and Space optimization to Drive Product Development
9 Global Stair Lift Market
9.1 market Overview
9.1.1 Market Size & Forecast
9.2 Porter’s Five Forces Analysis
9.2.1 Threat of New Entrants
9.2.2 Bargaining Power of Suppliers
9.2.3 Bargaining Power of Buyers
9.2.4 Threat of Substitutes
9.2.5 Competitive Rivalry
10 Stair Lift Market- by Rail Orientation
10.1 Market Overview
10.2 Curved Stair lifts
10.2.1 Market Size & Forecast
10.3 Straight Stair lifts
10.3.1 Market Size & Forecast
11 Stair Lift Market- by User Orientation
11.1 Market Overview
11.2 Seated Stair lifts
11.2.1 Market Size & Forecast
11.3 Standing and Perched Stair lifts
11.3.1 Market Size & Forecast
11.4 Integrated Wheelchair Platform Stair lifts
11.4.1 Market Size & Forecast
12 Stair Lift Market - By Installation
12.1 Segmental Overview
12.2 Indoor Stair lifts
12.2.1 Market Size & Forecast
12.3 Outdoor Stair lifts
12.3.1 Market Size & Forecast
13 Stair Lifts Market - By Geography
13.1 Market Overview
14 APAC: Stair Lift Market
14.1 Market Overview
14.1.1 Market Size & Forecast
14.2.1 Market Size & Forecast
14.3.1 Market Size & Forecast
14.4 Other APAC Countries
14.4.1 Market Size & Forecast
15 Europe: Stair Lift Market
15.1 Market Overview
15.1.1 Market Size & Forecast
16 MEA: Stair Lift Market
16.1 Market Overview
16.1.1 Market Size & Forecast
17 North America: Stair Lift Market
17.1 Market Overview
17.1.1 Market Size & Forecast
17.2.1 Market Size & Forecast
17.3.1 Market Size & Forecast
18 Latin America: Stair Lift Market
18.1 Market Overview
18.1.1 Market Size & Forecast
19 Competitive Landscape
19.1 Market Structure and Mapping of Competition
19.2 Overview of Competition
19.2.1 Herfindahl-Hirschman Index
20 Key Company Profiles
20.1 Acorn Stairlifts Inc.
20.2 Bruno Independent Living Aids Inc.
20.3 Stannah Lifts Holdings Ltd.
20.4 Handicare International
20.5 ThyssenKrupp AG
21 Other Prominent Companies
21.1 Platinum Stairlifts Ltd.
21.3 Otolift Stairlifts Ltd.
21.4 MediTek Ltd.
21.5 Savaria Inc.
21.6 Sugiyasu Corp.
21.7 DID - Daido Kogyo Co.
21.9 Hiro Lift
21.1 Access BDD
22 Report Summary
22.1 Quanaive Summary of Global Stair Lift Market
23.1 List of Abbreviations
List of Exhibits
Exhibit 1 Segmentation of Stair Lift Market
Exhibit 2 Market Size Calculation Approach 2016
Exhibit 3 Prevalence of Osteoarthritis in Selected Countries 2012 and 2021 (million)
Exhibit 4 Incidence of Spinal Cord Injuries (SCI) in 2015 (million)
Exhibit 5 Average Healthcare Spending as a Percentage of GDP in Selected Developing Countries (2012-2016)
Exhibit 6 Global Stair Lift Market Size & Forecast ($ billion)
Exhibit 7 Growing Population of Adults more than 65 Compared with Children under 5
Exhibit 8 Five Forces Analysis 2016
Exhibit 9 Segmentation of Stair Lift Market by Rail Orientation
Exhibit 10 Comparison of Revenue Growth Rates in Global Stair Lift Market by Rail Orientation 2017-2022
Exhibit 11 Curved Stair Lift Market Size & Forecast ($ million)
Exhibit 12 Straight Stair Lift Market Size & Forecast ($ million)
Exhibit 13 Segmentation of Stair Lift Market by User Orientation
Exhibit 14 Comparison of Revenue Growth Rates in Stair Lift Market by User Orientation 2017-2022
Exhibit 15 Seated Stair Lift Market Size & Forecast ($ million)
Exhibit 16 Standing and Perched Stair Lift Market Size & Forecast ($ million)
Exhibit 17 Integrated Wheelchair Platform Stair Lift Market Size & Forecast ($ million)
Exhibit 18 Segmentation of Stair Lift Market by Installation Type
Exhibit 19 Comparison of Revenue Growth Rates in Stair Lift Market by Installation
Exhibit 20 Indoor Stair Lift Market Size & Forecast ($ million)
Exhibit 21 End-user Demand for Indoor Stair lifts 2016 (Revenue in $ million)
Exhibit 22 Outdoor Stair Lift Market Size & Forecast ($ million)
Exhibit 23 End-user Demand for Outdoor Stair lifts 2016 (Revenue in $ million)
Exhibit 24 Segmentation of Stair Lift Market by Geography
Exhibit 25 Comparison of Revenue Growth Rates in Stair Lift Market by Geography
Exhibit 26 APAC Stair Lift Market Size & Forecast ($ million)
Exhibit 27 China Stair Lift Market Size & Forecast ($ million)
Exhibit 28 Adult Population aged 60+ and 80+ in China and India (2000-2050)
Exhibit 29 Total Fertility Rate of Japan
Exhibit 30 Japan Stair Lift Market Size & Forecast ($ million)
Exhibit 31 Other APAC Countries Stair Lift Market Size & Forecast ($ million)
Exhibit 32 Average Birthrate Comparison of Various Geographies (Birthrate per 1,000 Population)
Exhibit 33 Europe Stair Lift Market Size & Forecast ($ million)
Exhibit 34 Life Expectancy in Middle East Countries (in years)
Exhibit 35 MEA Stair Lift Market Size & Forecast ($ million)
Exhibit 36 North America Stair Lift Market Size & Forecast ($ million)
Exhibit 37 Elderly Population in Age Group of 65 and above in US 1950-2050 (in million)
Exhibit 38 Elderly Population Aged 65 and above as a Percentage of Total US Population
Exhibit 39 Percentage of US Population with Disability Type by Age Group (2015)
Exhibit 40 US Stair Lift Market Size & Forecast ($ million)
Exhibit 41 Canada Stair Lift Market Size & Forecast ($ million)
Exhibit 42 Percentage of Population in Age Group of 65 years and above (Latin America and Caribbean)
Exhibit 43 Incidence of Physical Disability (as % of total disability) in Latin America 2016
Exhibit 44 Latin America Stair Lift Market Size & Forecast ($ million)
Exhibit 45 Overview of Market Concentration in Various Geographies 2016 (as illustrated by HHI)
List of Tables
Table 1 Key Geographies Definition
Table 2 Key Caveats
Table 3 Currency Conversion 2013-2016
Table 4 Awareness Levels in Target Segment over Various Mobility-assisting Equipment in Key Countries 2016
Table 5 List of Initiatives taken by Governments in Healthcare Sector
Table 6 Major Drivers for Stair Lifts Demand in Other APAC Countries
Table 7 Percentage of Population above 65 years Old in Various European Countries
Table 8 Percentage of US Population with Disability by Age Group (2015)
Table 9 Global Stair Lift Market Size and Forecast by Geographies
Table 10 Global Stair Lift Market Size and Forecast by Rail Orientation
Table 11 Global Stair Lift Market Size and Forecast by User Orientations
Table 12 Global Stair Lift Market Size and Forecast by Installation Type
Table 13 Global Stair Lift Market Size and Forecast by End-user
Stair Lift Market Segmentation
- Historic Year: 2014-2015
- Base Year: 2016
- Forecast Year: 2017-2022
- Bruno Independent Living Aids
- ThyssenKrupp AG
Scope of the Report
The report includes a detailed study of growth drivers, trends, and restraints and profiles the leading vendors in the market and other key vendors. The report also provides in-depth analysis of the global market and provides the growth forecast for the period 2016-2022
The report takes into consideration the sale of stair lift and spares to the first buyers from various end-user segments, including individuals, hospitals, medical centers, and commercial clients. The sale of both straight and curved stair lift was considered across various sales channels, including direct sales - online and offline. The market research report provides the detail of the market size in the following segments:
- Standing and perched
- Integrated wheelchair platforms
- Hospitals and clinics
- Latin America
- North America
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.