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| Global Patient Recliners Market |
The global Patient Recliners Market is estimated to be valued at US$ 1.3 Bn in 2023 and is expected to
exhibit a CAGR of 7.3% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Patient recliners are medical devices used in hospitals, clinics, home care settings
to provide comfort and support to patients. They are usually powered or manual
and offer features like adjustable backrests, leg rests, weight-bearing
capabilities. Patient recliners aim to address issues like fatigue, stress, and
pain for patients by providing proper posture support. Their growing demand is
attributed to the rising geriatric population suffering from limited mobility
and chronic illnesses. The recliners enable independent functioning of patients
and aid quick recovery by reducing pressure points and promoting blood
circulation.
Market key trends:
One of the key trends in the patient recliners market is the growing demand for
multifunctional and hi-tech recliners. Manufacturers are focusing on
integrating innovative technologies to offer features like adjustable heights,
customizable massage settings, wireless remote control etc. This is allowing
elderly and paralyzed patients to use recliners independently. Furthermore, the
increasing popularity of home healthcare is boosting the sales of premium yet
affordable recliners for personal use. Manufacturers are expanding their
product portfolios catering to varied healthcare settings and diseases to
strengthen their market position.
Porter's Analysis
Threat of new entrants: The threat of new entrants into the Patient Recliners
Market is low as there is a high initial capital requirement, and the market is
dominated by few major players.
Bargaining power of buyers: The bargaining power of buyers in the market is
moderate as the demand for Patient Recliners is growing, but there are limited
product choices available.
Bargaining power of suppliers: The bargaining power of suppliers is low since
there are many suppliers for raw materials used in manufacturing Patient
Recliners.
Threat of new substitutes: The threat of new substitutes is low as there are
limited substitutes available for Patient Recliners which provide comfort and
care to patients.
Competitive rivalry: High.
Key Takeaways
The Global
Patient Recliners Market size is expected to reach US$ 1.3 Bn by 2023, exhibiting a CAGR of 7.3% over the forecast period. Factors such as increasing
geriatric population and growing adoption of patient recliners in home
healthcare are driving the market growth.
Regionally, North America accounted for the highest share in the global Patient
Recliners Market in 2023. Increasing healthcare spending and rising demand for
advanced medical facilities are contributing to the North America market
growth. Asia Pacific is anticipated to witness the fastest growth due to
improving healthcare infrastructure and rising medical tourism in the region.
Key players operating in the Patient Recliners Market are Medline Industries,
Inc., Krueger International, Herdegen, J.D. Honigberg International, Inc., GF
Health Products, Inc., Nemschoff, Gendron, Inc., Reliable Life, Malvestio Spa,
Stryker Corporation. These players are focusing on new product launches and
mergers & acquisitions to strengthen their market position. For instance,
in 2022, Reliable Life acquired Intereum to expand its recliner product
portfolio.
Read More: https://www.trendingwebwire.com/patient-recliners-market-demand/