Patient recliners are specially designed chairs equipped with features to support persons with limited mobility or recovering from medical conditions and surgeries. These recliners provide adjustable back and leg rests along with features like wired or wireless call buttons to seek assistance. The growing elderly population suffering from limited mobility due to conditions like arthritis, disabilities or post-operation recovery is creating significant demand for patient recliners. The global Patient Recliners Market is estimated to be valued at US$ 10.3 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends propelling the growth of the patient recliners market is the rising geriatric population globally. As per the UN data, the population aged 60 years or above is growing rapidly and is expected to reach 2.1 billion by 2050 from 1 billion in 2019. Moreover, the number of persons aged 80 years or above is projected to triple and reach 426 million by 2050. The elderly population suffers more from limited mobility and medical conditions like arthritis, thereby driving significant demand for patient recliners that provide comfort and support for recuperation. Hence, the market is poised for robust growth through the forecast period supported by an aging global demographic structure.
SWOT Analysis
Strength: The patient recliners market has witnessed growth due to increasing demand for comfort and ergonomic furnishings in healthcare facilities. It provides patients with comfortable seating options during recovery or rehabilitation.
Weakness: High costs associated with premium patient recliners can restrain their adoption, especially in price-sensitive markets. Transportation and storage of large recliners also add to logistic challenges.
Opportunity: Growing geriatric population worldwide experiencing limited mobility creates demand for assistive living products. Home healthcare is a rising trend offering opportunity to supply recliners for patient care and recovery outside hospitals.
Threats: Intense competition among existing players may lead to price wars affecting margins. Fluctuations in raw material prices also impact costs.
Key Takeaways
The global patient recliners market is expected to witness high growth amid rising healthcare expenditure globally. The market size is projected to reach US$ 10.3 billion by 2024.
Regional analysis: North America currently dominates the market owing to advanced healthcare infrastructure and greater acceptance of assistive patient furniture. Asia Pacific is expected to emerge as the fastest growing region supported by growing medical tourism and increasing investments to establish hospitals and clinics in developing nations.
Key players: Key players operating in the patient recliners market are Medline Industries, LP., Krueger International (KI), Herdegen, J.D. Honigberg International, Inc., GF Health Products, Inc., Herman Miller, Inc., Gendron, Inc., Malvestio Spa, Stryker Corporation, Narula Udyog India Private Limited, Recliners India Private Ltd, Champion Chair, SaikangMedical, SeniorCare.com, and Jiangsu Yongfa Medical Equipment Technology Co., Ltd. These established manufacturers are focusing on new product launches and geographic expansion to strengthen their global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it