February 21, 2024

Portering Chair Market Is Projected To Propelled By Rising Cases Of Chronic Disorders

Portering chairs are medical equipment used to transfer patients from one place to another. They provide comfortable seating support, backrest, legrest and other features to ensure patient safety and stability during transfer or transportation. The increasing incidence of chronic diseases including cancer, cardiovascular diseases and others has fuelled the demand for portering chairs to safely transfer patients within and outside healthcare facilities.

The global Portering Chair Market is estimated to be valued at US$ 616.09 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 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 portering chair market is rising geriatric population. As per a recent United Nations report, the global population aged 60 years and above is expected to double by 2050 and triple by 2100. Older adults are more prone to chronic diseases and injuries due to age-related decline in physiological functions. With increasing life expectancy worldwide, the demand for assistive devices like portering chairs is expected to rise significantly during the forecast period. Portering chairs provide comfortable seating and back support which helps in safe transfer of geriatric patients within and outside healthcare facilities. Thus, rapid growth in aging population base will augment the portering chair industry expansion over the coming years.

SWOT Analysis
Strength:
Portering chair market has strong demand for patient lift chairs owing to benefits of improved safety, comfort and positioning capabilities for home healthcare.
Weakness: High initial costs of portering chairs limits adoption rate especially in low and middle income countries. Limited availability of reimbursement and insurance coverage also acts as a weakness.
Opportunity: Rising geriatric population worldwide along with growing preference for home healthcare over institutions creates lucrative growth opportunities. Technological advancements in chair design also opens up new opportunities.
Threats: Constant change in preference of target customers and emergence of alternative mobility products pose competitive threats in the market. Stringent regulatory approvals also restrict entry of new players.

Key Takeaways
The Global Portering Chair Market Growth is expected to witness high growth. The global Portering Chair Market is estimated to be valued at US$ 616.09 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030.

Regional analysis
North America dominates the portering chair market accounting for over 35% share globally due to growing elderly population, presence of major players and better access to latest technologies. Asia Pacific is expected to witness fastest growth over the forecast period owing to rising healthcare expenditures, increasing prevalence of chronic conditions and growing medical tourism industry.

Key players
Key players operating in the portering chair market are Abbott Laboratories, Pfizer Inc., Abbvie Inc., Biocon, F. Hoffmann-La Roche Ltd., PerkinElmer, Inc., Astrazeneca Plc., Illumina, Inc., Sanofi S.A., Qiagen, Twist Bioscience, Thermo Fisher Scientific Inc., Biointron, Merck & Co., Inc., Sino Biological Inc., GeneWiz (Azenta Life Sciences), Danaher Corporation, and Synbio Technologies.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it