Albany, NY, Jan. 21, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) has recently published a research study on the global specialty medical chairs market for estimating the market to rise at a CAGR of 6.50% during the period from 2015 to 2023 and reach a market value of US$6.8 bn by the end of the forecast period.The report titled, “Specialty Medical Chairs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”, states that the worldwide specialty medical chairs market stood at US$3.8 bn in 2014.
The introduction of technically advanced medical chairs in the global arena has spurred demand in the worldwide specialty medical chairs market. Apart from this, the rising global geriatric population, the increasing number of hospitals and medical institutes, and the escalating use of rehabilitation chairs are propelling the demand for specialty medical chairs across the world. This trend is likely to continue over the forecast period. However, the growing trend of using refurbished medical chairs among end users in emerging economies is likely to limit the market growth, says the report.
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Growing Geriatric Population Boosts Global Specialty Medical Chairs Market
The key growth driver for the global specialty medical chairs market is the growing number of elderly patients. With a higher amount of disposable income, patients can avail comfortable options in medical care, thereby increasing the demand for better builds of specialty chairs. Moreover, the advancement in manufacturing technology and materials allows for the creation of new designs with materials that are increasingly comfortable and reliable.The global specialty medical chairs market is, however, hampered by factors such as the use of refurbished medical furniture by healthcare organizations.
Dialysis Chairs and Geriatric Chairs Lead Global Specialty Medical Chairs Market
The global specialty medical chairs market is broadly divided into three segments on the basis of product type: rehab chairs, treatment chairs, and examination chairs. In the case of examination chairs, the segment was led by dialysis chairs, which held 32.6% of the global examination chairs market in 2014. The segment is rising owing to the research and development efforts undertaken by multinational companies such as Invacare Corp. and Fresenius Medical Care, two companies that offer highly advanced dialysis chairs.
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The examination chairs segment is further divided into the markets for dialysis chairs, birthing chairs, blood drawing chairs, cardiac chairs, and mammography chairs. The dialysis chairs segment led the examination chairs market in 2014 with a share of 32.6%. Consistent Technical advancements are likely to stimulate the demand for dialysis chairs, enabling the market segment to retain its position during the forecast period.
Dental chairs, ENT chairs, ophthalmic chairs, and other surgery chairs are the main segments of the treatment chair market and the rehabilitation chairs market consists of pediatric chairs, geriatric chairs, bariatric chairs, and toilet chairs.North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa are the prime regional markets for specialty medical chairs, states the report.
Major Key Players in Specialty Medical Chairs Market:
The report maps the competitive landscape prevalent in the global specialty medical chairs market by analyzing the company profiles of major market participants including ACTIVEAID Inc., DentalEZ Inc., A-dec Inc., Forest Dental Products Inc., Invacare Corp., Fresenius SE & Co. KGaA, Marco, Topcon Medical Systems Inc., and Rehab Seating Systems Inc.
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