The global stairlift market is expected to cross US$1.7 billion, growing at a CAGR of 8.4% during the period 2016−2022
The Stair Lift Market – Global Outlook and Forecast 2017–2022 is the latest report published by Arizton Advisory & Intelligence. The report includes a holistic view of the global stairlift market and examines the factors that are going to drive the market growth during the forecast period 2016-2022.
The report discusses the emerging trends and opportunities that are likely to shape the global market growth. Although the primary reason for the growth of the stairlift market is due to growing aging population, there is an increased number of people with no disabilities purchasing in the second hand market at a low price with no insurance requirements. Used stairlifts are often viewed as an inexpensive alternative for a limited time usage. The potential source for second hand lifts includes friends, neighbours, and acquaintances of deceased users, who wish to offload them quickly. The not-for-profit enterprises (charity shops) are the most popular offline choice for used stairlift shopping.
Also, there is a significant growth in the second hand stairlift market are sold at many specialist retailer outlets – in store and online. The sites such as eBay and Amazon have listed various stairlifts and accessories from vendors, and the buyer can purchase both new and second hand lifts online. It has become a reliable avenue for customers, and retailers are looking to maximize sales with aggressive discounting. Mainstream retailers offer an experience for customers, however, they still find it a challenge to get people into stores when online retailers are offering convenience and money-saving options.
Better Knowledge of Mobility Equipment among Disabled and Elderly Population Will Affect the Stairlift Market Growth
The stairlift market counts disabled, the elderly, and those with mobility-related challenges, including knee issues, osteoporosis, heart ailments, and obesity. While developed economies fare better in ensuring the access to public health infrastructure, developing countries are still catching up with the liberalization of their economies. Major economies including India, Brazil, China, and Indonesia have started to open up their healthcare industries to foreign investments in the realms of hospital infrastructure, medical devices, pharmaceuticals, and health insurance.
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