The North America Specialty Medical Chairs Market would witness market growth of 7.7% CAGR during the forecast period (2022-2028).
One of the primary factors driving the market's growth is the rising frequency of chronic medical conditions around the region. Furthermore, the growing geriatric population, which is more vulnerable to cardiovascular and respiratory illnesses and requires intense medical care, is propelling the market forward. In accordance with this, rising consumer demand for in-home care is also contributing to the market's expansion. Various product advancements, such as the creation of personalized and automated chairs, are also boosting the industry. Other factors, such as major advances in healthcare infrastructure, particularly in developing nations, as well as expanding consumer spending capacity, are expected to propel the industry forward.
The growing geriatric population in the United States is a big aspect driving the specialty medical chair market forward in the North American region. The number of people over 65 in the United States and Canada is expected to increase from around 60 million in 2019 to around 80 million by 2030, according to the world population aging report, with the 65-and-older age group's share of the total population rising from 16.4 percent in 2019 to 20.5 percent by 2030. The specialty medical chairs market in the region is expected to grow since this demographic is more susceptible to joint discomfort, pain, arthritis, and other non-fatal pain and injuries.
In 2020, healthcare spending in the United States increased by 9.7% to $4.1 trillion, or $12,530 per person. Health spending contributed to 19.7 percent of the nation's Gross Domestic Product. The growing health care spending will facilitate the modernization of the industry. Thus, the rising healthcare expenditure is also estimated to raise the demand for specialty medical chairs market in the region.
The US market dominated the North America Specialty Medical Chairs Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,774.1 million by 2028. The Canada market is experiencing a CAGR of 10.1% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 9.2% during (2022 - 2028).
Based on Product, the market is segmented into Rehabilitation (Geriatric, Bariatric, Pediatric, and Others), Treatment (Dental, Ophthalmic, ENT, and Others), and Examination (Dialysis, Blood Drawing, Mammography, Cardiac, and Birthing). Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Specialty Medical Chairs Market is Estimated to reach $6.3 Billion by 2028, at a CAGR of 8.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Topcon Corporation, Dentsply Sirona, Inc., Danaher Corporation, Fresenius SE & Co. KGaA, A-dec, Inc., DentalEZ, Inc., ActiveAid, LLC, Midmark Corporation, Planmeca Oy, and Hill Laboratories Company.
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