Global functional furniture market to reach $ 5.3 billion by 2026
FACTS AT A GLANCE
Editing: 7; Posted: december 2021
Executive pool: 1217
Companies: 156 – Players covered include Ai Squared; Bausch & Lomb, Inc .; Blue Chip Medical Products, Inc .; Lead medical design and manufacturing; Exact Dynamics BV; GN ReSound Group; Inclusive Technology Ltd .; Invacare Company; Jabbla SPRL; Liberator Ltée; Medline Industries, Inc .; Permobil AB; Siemens Ltd. ; Sonova Holding SA; Starkey Hearing Technologies; Sunrise Medical LLC. ; Tobii Dynavox; Widex Ltd. ; William Demant Holding A / S; Wintriss Engineering Company; and others.
Blanket: All major geographies and key segments
Segments: Type (beds, raised reclining chairs, handrails and bar, door openers); Application (home care, assisted living facilities, hospitals and retirement homes)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.
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Global Functional Furniture Market To Reach US $ 5.3 billion by 2026
Functional furniture makes all the difference for people with disabilities or long term injuries and the idea of functional furniture is to help people with normal daily activities like standing, resting and sitting with less effort. .
The category includes aids and technologies that make it possible to sit and stand in a safe and secure manner. Aids are essential for enabling people with motor and balance disabilities to sit and stand safely. Positioning equipment, for example, is essential to ensure an even distribution of body pressure without affecting movement. Functional furniture includes aids and devices such as medical beds, elevated recliners, railings and bars and openers, among others. Assistive technologies for people with disabilities and the elderly in general and furniture in particular are driven by the growing elderly population, rising health care costs and technological advancements. The growth of the elderly population is straining health systems around the world. Home care is actively practiced as an alternative to extended hospital stays. Technological advances have made it possible to connect assistance products to health networks and contribute to the transition to home care.
In the midst of the COVID-19 crisis, the global functional furniture market estimated at 3.8 billion US dollars in 2020, is expected to reach a revised size of US $ 5.3 billion by 2026, with a CAGR of 5.6% over the analysis period. Beds, one of the segments analyzed in the report, is expected to grow at a CAGR of 6.6% to reach US $ 2.2 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Riser recliner segment is readjusted to a revised CAGR of 5% for the next 7 year period. This segment currently represents a 27% share of the global functional furniture market. Hospital beds are available in a fully electric or manual range that allows individuals to lower and raise their feet, head or the entire bed with the push of a button. Hospital beds or medical beds include side rails, spring support, and adjustable head / footrests, which are a suitable option for people who are expected to stand for a long time. People who find it difficult to get in and out of traditional chairs, or who just want a practical chair for their living room, are increasingly turning to raised recliners. An electric lift and recliner chair is frequently purchased by those who need more support while sitting.
The US market is estimated at $ 2 billion in 2021, when China is expected to reach $ 320.3 million by 2026
The functional furniture market in the United States is estimated at US $ 2 billion in 2021. The country currently accounts for a 51.42% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of 320.3 million US dollars during the year 2026, with a CAGR of 6.9% during the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 4.8% and 5.3% respectively during the analysis period. In Europe, Germany is expected to grow by around 5.4% CAGR while the rest of the European market (as defined in the study) will reach US $ 207.1 million at the end of the analysis period. Become thin North America region is due to increased demand, growing geriatric population, and increased government focus on patient safety. Furthermore, well-established distribution channels and technological advancement are the major factors propelling the growth of the assistive devices for the disabled and elderly market in the region. It is estimated that increasing disposable income and increasing people’s awareness of the use and availability of functional furniture like beds, raised chairs and door openers will drive the growth of Asia Pacific Region.
Handrails and bar segment to reach $ 1 billion by 2026
In the Global Railings and Bars segment, United States, Canada, Japan, China and Europe will lead to the estimated 4.5% CAGR for this segment. These regional markets representing a combined market size of US $ 672.6 million in 2020 will reach a projected size of US $ 917 million at the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 68.3 million by 2026, while Latin America will increase at a CAGR of 5.1% throughout the analysis period. Following
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