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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Stair Lifts market. Market segmentation includes Rail Type (Straight, Curved); User Orientation (Seated, Standing/Perched, Integrated Wheelchair Platform); Install Location (Residential Spaces, Commercial Spaces).

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5 November 8:30 p.m., California- According to the new market research report, the global market for Stair Lifts is projected to grow at a CAGR of 5% reach US$1.3 Billion by 2027, driven by growing need to provide mobility and independence to the elderly population and those suffering from disabilities and other chronic medical conditions. The global Stair Lifts market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Straight Stair Lift, one of the segments analyzed and sized in this study, is forecast to grow at over 4.8% and reach a market size of US$821 million by the end of the analysis period. The United States is forecast to readjust to a 4.7% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$111.7 million growing at a CAGR of 4.6% over the next couple of years. In addition, over US$66 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Straight Stair Lift segment will reach a market size of US$40 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Straight Stair Lift segment in this country against this backdrop will grow at a CAGR of 7.1% over the next couple of years to create an addressable market opportunity worth US$91 million by the year 2027.

Stairlifts or chairlifts or stair gliders are mechanical devices that enable individuals who suffer movement disabilities to go up and down the staircase without assistance. Stairlifts are versatile and can be deployed on straight, outdoor, or even staircases. Features such as lockable seats, digital displays, remote-controlled handset, safety sensors, adjustable settings, and footrest flip make stairlift a comfortable device. The global market for stairlifts has been witnessing healthy growth in recent years driven by the increasing awareness about mobility devices, accessibility, and technological progress in the industry. The rising incidence of musculoskeletal conditions in various age groups, expanding elderly population with limited mobility are driving need for a mobility solutions, thus fueling growth in the stair lift market. Elderly population are susceptible to various health issues such as dizziness, vertigo, chronic diseases, limited mobility, and mental deterioration, making them dependent on others for movement. For such individuals, stairlifts serve as an important system providing functional independence to some extent. The market is also poised to benefit from the continuous rise in medical conditions affecting the population. A significant part of the population suffers from arthritis, which is expected to rise in the future. Other diseases include obesity, hypertension, diabetes, orthopedic disorders, and cancer which limit movements, fueling the growth of the stair lift market. Technology innovations play a critical role in driving market growth. The introduction of wireless technology and smartphones' usage are driving growth in the stairlift market by enabling connectivity between the stairlift with the mobile phone for controlling and monitoring purposes. However, growth is being impeded by the high cost in installing the stairlifts. Specialized skills and designs are required for installing stairlifts.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 412. Among this pool, 82 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 16 unique participations, a total of 7 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.


Key Competitors Covered in the Report -
Acorn Stairlifts Inc.
Savaria Corporation
Symax Lift (China) Co., Ltd.
Prism Medical Ltd.
Bruno Independent Living Aids, Inc.
Gruppo Millepiani S.p.a.
Harmar Mobility LLC
HIRO LIFT (Hillenkotter + Ronsieck GmbH)
Kumalift Co., Ltd.
Lehner Lifttechnik GmbH
Otolift Stairlifts Ltd.
Platinum Stairlifts Ltd.

Segments Covered in the Report -
Rail Type (Straight, Curved)
User Orientation (Seated, Standing/Perched, Integrated Wheelchair Platform)
Install Location (Residential Spaces, Commercial Spaces)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Rest of Europe
Asia-Pacific
Latin America
Rest of World.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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