Stair Lifts Market is to grow at a high CAGR of 7% during the forecast period (2023-2030). North America is the largest share of the global Stair Lifts market. The competitive rivalry intensifies with MediTek Ltd, Otolift Stairlifts Ltd, Savaria Inc, Sugiyasu Corp, and others operating in the market.
The stairlift is the mechanical device used to move up and down staircases by people. A stairlift contains a chair or lifting platform that sits on a rail that is mounted onto the stairs. The lift can be controlled by the person sitting on it and may even have additional features such as emergency call button and backup batteries for times of power outages. There are different lengths and designs available in the rail by which the weight of the track may even vary and can be customized to the consumers’ needs. Stairlift finds significant application in residential buildings, hospitals and clinics, and commercial spaces.
Metrics |
Details |
Market CAGR |
7% |
Segments Covered |
By Rail Type, By Installation Type, By User Orientation, and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
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The global market for the Stair Lifts Market is primarily driven by the growing geriatric population who are more prone to diseases such as osteoarthritis (OA), rising incidences of lifestyle diseases such as obesity, and patients with physical disabilities. According to the United Nations (UN), an estimated 10% - 15% of all adults aged over 60 have some degree of OA and forecasts that by 2050 people aged over 60 will account for more than 20% of the world’s population, of which around 130 million people (15-20%) are estimated to have symptomatic OA, and one-third of these people will be severely disabled (about 40 million people). According to the World Health Organization (WHO), in 2016, more than 650 million adults aged 18 years and older were obese. Moreover, supportive government grants and growing development and innovation of products, resulting in wide-ranging customizability in design ergonomics and installation to suit the consumers’ needs and also to increase functionality and safety features are further propelling the market.
However, the high purchase, installation, and maintenance cost of Stairlifts and the presence of less expensive alternatives to Stairlifts may hinder market progress.
By Rail Type, the Global Stair Lifts Market is bifurcated into Straight Stair Lifts and Curved Stair Lifts. Straight Stair Lifts holds a significant market share and are the most common type of rail because it is easy and fast to install and require minimal training for the user and simplicity in design which makes it comparatively low cost. However, they can only be used on straight staircases, which is a significant restraint on its market. Curved Stair Lifts are a fast-growing market share owing to their customizability to the users’ needs.
By Installation Type, the Global Stair Lifts Market is bifurcated into indoor and outdoor stairlifts. The indoor segment dominates the market share owing to the increasing demand to be used in residential spaces. This is mainly due to the rising geriatric population, developing home healthcare market, product launches, and growing inclination of aging and disabled population toward active and independent living. Moreover, long lifespan, easy installation, and maintenance, the increasing technological advancement in design, safety, and ergonomics are expected to boost the market further.
By User Orientation, the Global Stair Lifts Market is segmented into, Seated Stairlifts, Standing and Perched Stairlifts, and Integrated Wheelchair Platform Stairlifts. Seated stair lifts hold the most significant market share as it is the most preferred type due its comfortable seating and safety. However, Integrated Wheelchair Platform Stairlifts are the fastest growing market share as they offer better self-control to the user during mobility and are the preferred type in outdoor or commercial settings.
North America accounts for the largest share in the global Stair Lifts market. This can be mainly attributed to factors such as increasing awareness among the public regarding benefits of stairlifts, including ease of accessibility, growing geriatric population, rising incidences of obesity, and patients with physical disabilities. According to the Centers for Disease Control and Prevention (CDC), 2015-2016, the prevalence of obesity was 39.8% and affected about 93.3 million adults in the US. According to the Arthritis Foundation, 2015, a conservative estimate indicates that about 30.8 million adults were officially diagnosed with osteoarthritis in the US and had been increasing over the past several decades in the US, concurrent with an aging population and the growing obesity epidemic. Moreover, the advanced regional healthcare infrastructure, the high acceptance and adoption of the products by consumers, well-established reimbursement policies, technological advancements, and presence of leading manufacturers locally are likely to boost the North America Stair Lifts market growth.
The Asia-Pacific market is expected to grow at the fastest rate during the forecast period due to availability of a large base of the patient pool. Also, increasing elderly population and rising disposable income are boosting the growth of the market and improving healthcare access and infrastructure in countries such as China and India. According to data in NHANES III, an estimated 35% of people over the aged of 60 years had radiographic OA of the knee in Southeast Asia. In a Chinese population of people over 60 years, the prevalence of knee OA was 22% in men, and 43% in women. This prevalence was 45% higher than that in the US Caucasian population.
The global market for the Stair Lifts Market is primarily driven by the growing geriatric population who are more prone to diseases such as osteoarthritis (OA), rising incidences of lifestyle diseases such as obesity, and patients with physical disabilities.
Straight Stair Lifts hold a significant market share and are the most common type of rail because it is easy and fast to install and require minimal training for the user and have simplicity in design which makes it comparatively low cost. The indoor segment dominates the market share owing to the rising geriatric population, developing home healthcare market, product launches, and growing inclination of aging and disabled population toward active and independent living.
North America accounts for the largest share in the global Stair Lifts market. This can be mainly attributed to factors such as increasing awareness among the public regarding benefits of stairlifts, including ease of accessibility, growing geriatric population, rising incidences of obesity, and patients with physical disabilities.
Adopting merger and acquisitions policies, and regional expansion to help key market players to stand out as strong competitors in the Stair Lifts market. For instance, in March 2019, Yorkshire-based Company, Platinum Stairlifts partnered with mobility retailer Dolphin Mobility Yorkshire and Cumbria to become an integral partner for the official launch of the Ultimate Stairlift.
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