The global Lift Chairs market is anticipated to grow at a CAGR of 6.1 % during the forecast period (2022-2028). The lift chair also known as the riser armchair is a chair that is equipped with a powered lifting mechanism that enables the entire chair to lift from the base assisting the user to get in a standing position easily. The major factor attributing to the growth of the global lift chairs market is the increasing use of lift chairs by old age people due to the increasing number of old age population across the globe. According to the World Population Aging report published by the United Nations in 2020, there were around 703 million people aged above 65 years across the globe in 2019. It is estimated that the old age population aged above 65 years will get double and reach 1.5 billion across the globe by 2050. Thus, increasing the use of lift chairs in the house during the forecast period.
The use of lift chairs is also increasing among people due to the increasing prevalence of arthritis. According to an article published by the Centers for Disease Control & Prevention (CDC) in 2021, around 58.5 million people are suffering from arthritis in the US representing around 24% of the total adult population of the US. Arthritis is in several forms including osteoarthritis, gout, rheumatoid arthritis, and lupus. Furthermore, the use of lift chairs is also increasing due to the increasing prevalence of osteoporosis across the globe. According to an article published by the International Osteoporosis Foundation (IOF) in 2021, around 6.3% of men, and 21.2% of women of age above 50 years are affected by osteoporosis accounting for around 500 million people affected by osteoporosis across the globe. More than 8.9 million fractures are caused due to osteoporosis every year across the globe. Thus, the rising prevalence of the disease is driving the growth of the global lift chairs market.
Some major players in the market include Golden Technologies, Medical Depot Inc., Franklin Corp., La-Z-Boy Inc., Jackson Furniture Industries, among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, according to an article published by USA Today in August 2021, the best lift recliner chairs available in the market include Mcombo Lift Recliner 7040, Signature Design by Ashley Yandel, Esright Power Lift Chair, and Others. Others include ProLounger Modern Style Lift Chair and Magic Union Power Lift Massage Recliner.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Golden Technologies, Medical Depot Inc., Franklin Corp., La-Z-Boy Inc., Jackson Furniture Industries, among others.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Lift Chairs Market Report by Segment
By Type
- Multifunctional Lift Chair
- Common Power Lift Chair
By Application
- Residential
- Commercial
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