According to Fact.MR, a market research and competitive intelligence provider, global demand for assistive furniture is projected to increase at a CAGR of 6% from 2022 to 2026.
The goal of assistive furniture is to make it easier for people to do everyday activities. The group includes tools and innovations that make standing and sitting safely possible. The aids are crucial for allowing patients with the poor balance to sit and stand safely. For example, positioning equipment is crucial to guaranteeing that body pressure is distributed equally while not impairing movement.
Assistive chairs, assistive beds, wheelchair ramps, rails & bars, and door openers are just a few examples of the assistance and equipment that make up assistive furniture. The ageing population, growing healthcare expenditures, and technological advancements are driving demand for furniture and other assistive equipment for the elderly and disabled.
The global assistive furniture market currently accounts for a valuation of US$ 4.3 billion and is expected to reach US$ 5.5 billion by the end of 2026. Worldwide demand for assistive furniture is predicted to increase at a CAGR of 6% from 2022 to 2026.
The use of assistive furniture in hospitals is expected to rise at a significant rate over the coming years. The enormous demand for wheelchairs and other mobility equipment for patient mobility in hospitals has propelled the expansion of the market to a great extent.
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Which Key Challenges are Faced by Assistive Furniture Suppliers?
“Lower Adoption Rates & High Cost of Assistive Furniture”
Low-income households may find it prohibitively expensive to purchase assistive furniture. Possible additional problems include indirect charges and maintenance expenses.
The low degree of acceptance for some products, the expensive cost of a few high-tech items, and the poor reimbursement from health insurance all prevent the market from expanding.
The market growth is anticipated to be constrained by the higher cost of assistive devices over the forecast period. Additionally, lower assistive device adoption rates in developing countries may restrain the assisted living market growth.
Lack of access to assistive technology is caused by several factors, including prohibitively high prices, limited availability, a lack of expertise, a shortage of staff with the necessary education, a lack of governance, and inadequate funding.
Only a small percentage of users have access to the full range of assistive equipment since it is difficult to provide a steady supply of replacement parts and assistive products due to a lack of legislation, funds, logistics, research, or high customs and excise fees.
What is Driving U.S. Assistive Furniture Market Growth?
“Increase in R&D Spending for Production of High-end Assistive Furniture”
Expansion of the market in the United States is being driven by a growing prevalence of disabilities, the presence of significant manufacturers, and higher R&D spending for the production of high-end assistive furniture.
The market is growing as a result of the increased use of advanced assistive technologies and rapid integration of healthcare facilities. It is projected that strong government measures to upgrade healthcare facilities through insurance programs will create profitable growth prospects in the country.
Which End User Will Emerge as Key Market Contributor?
“Wide Availability of Assistive Furniture for Rehabilitation in Hospitals”
Based on end user, the market is segmented into home care, assisted living facilities, hospitals, and nursing homes. The largest share of the global assistive furniture market is held by hospitals. This is due to a rise in traffic accidents and hospital admissions for the treatment of multiple sclerosis, cerebral palsy, paralysis, stroke, and other illnesses.
A significant setting for the use of assistive technology for the elderly and disabled in hospitals. Along with patients recovering from surgery, those who require mobility aids or who have a handicap brought on by ageing issues may be admitted to the hospital for rehabilitation.
Wheelchairs, walkers, toilet seats, and lifts are just a few examples of the specific equipment available in hospitals that can help with mobility, communication, and safety-related issues.
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To gain a competitive edge and increase market share, manufacturers of assistive furniture are making significant investments in value-added services. Market players are also engaging in a variety of developmental methods such as product launches, collaborations, joint ventures, and mergers.
The Right Place has created a cloud-based platform to manage available beds and hasten referral choices using real-time data. The software helps with patient placement and offers analytical data on things such as occupancy, referral volume, and average stay length.
Key Companies Profiled:
- GN ReSound Group
- Liberator Ltd.
- Siemens Ltd.
- Blue Chip Medical Products
- Invacare Corporation
- Drive DeVilbiss Healthcare
- Inclusive Technology Ltd.
- Medline Industries, LP.
- Pride Mobility Products Corp.
- Sunrise Medical LLC
- AI Squared
- Bausch & Lomb, Inc.
- Exact Dynamics B.V.
Key Segments in Assistive Furniture Industry Research
By Type :
- Riser Reclining Chairs
- Railings & Bars
- Door Openers
By End User :
- Home Care
- Assisted Living Facilities
- Nursing Homes
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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