Stair lifts are mobility devices primarily used in healthcare establishments such as hospitals, clinics, and rehabilitation centers. Stair lifts help old-aged and differently-abled citizens in vertical mobility. It is supported by mechanical rails installed along the staircase on which the seat or the chair is fixed. The demands of stair lift are increasing owing to the robust product design that enables easy installation of the device. Moreover, the demand for used stair lifts is also increasing in North America because of the growth in geriatrics population, large section of the society suffering from osteoarthritis condition, and huge impact of people’s lifestyle diseases such as obesity and diabetes.
The constantly increasing geriatric population in North America is poised to augment revenues in the North America used stair lift market. A report released by the United States Census Bureau in 2018 suggests that by 2030, the older population in America will be around 1 billion. This is a massive number and this forecast is certain to employ a significant number of used stair lift in the region. People at this age suffer from several medical conditions that require regular treatment and diagnosis either at a hospital or at a domestic setting. Therefore, a considerate section of aged people are estimated to use stair lifts that will support North America used stair lift market. Other than the healthcare infrastructures, the stair lift is used in commercial spaces such as the malls, offices, restaurants, and hotels. The growing volume of the handicapped population is one of the major growth drivers in North America used stair lift market. The United States among other North American countries have the largest percentage of people living with a disability.
North America Used Stair Lift Market size was observed at $154.4 million in 2018 and the demands in the same are projected to grow at a positive CAGR of 3.4% during the forecast period 2019 to 2025.
Key Application Turf of Used Stair Lifts
The stair lifts can be installed in any stairs irrespective of its installing environment namely, indoor or outdoor surrounding. However, the indoor setup of used stair lifts is considered as the most lucrative application in the North American used stair lift market. The indoor market segment is expected to grow at a CAGR of 4.1% during the forecast period. Evidently, the major application of the stair lifts is carried out in clinics, rehabilitation centers, and residential setups. Stair lifts are not much popular in commercial places owing to the availability of elevators at most of the commercial areas such as malls, hospitals, and other commercial establishments.
Growth Drivers in the North America Used Stair Lift Market
Expanded Outreach due to E-commerce: The outbreak of e-commerce made an immense impact on the used stair case lift market. Earlier, there was no virtual tool for trading used stair case lifts, but with the availability of e-commerce infrastructure supported by eBay, Amazon, and Alibaba the outreach of the used stair lifts have increased to a tremendous level. All the mentioned companies are selling refurbished stair lifts at a relatively economical rates. Since the prevalence of e-commerce industry is getting dense on a daily basis, the demands for used stair lifts are projected to flow through such virtual platforms which in turn will benefit the North America used stair lift market.
Leveraging on Latest Digital Trends: Advanced technology such as augmented reality and 3D imaging are enhancing the installment of used stair lifts. 3D imaging is enabling the customers to visualize the look of the stairs once they will be installed. Also, augmented reality product hololens is optimizing the installation of the stair lift by increasing the speed of measurements thereby leaving more time for visualizing on aesthetic details such as rail color.
Government Support: Governments of the major North American countries are highly supportive for used stair lifts. Strict rules and mandates are being issued by the government for increasing the mobility of the person with a disability in public places. Thus, with the support from the central body, the demands in North America used stair lift market is assured to increment in the near future.
North America Used Stair Lift Market Competitive Landscape
The companies influencing the North America used stair lift market are Access BDD, DID – Daido, Harmar, Kumalift Co. Ltd., Otolift, Savaria Corp., MediTek, Platinum Stair lifts, ThyssenKrupp AG, Handicare, Stannah Lifts Holding Ltd., Bruno Independent Living Aids Inc., and Acorn Stairlifts Inc.
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Mr. Venkat Reddy
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