Market Trends of United States Stair Lift Industry
This section covers the major market trends shaping the US Stair Lift Market according to our research experts:
Increasing Health Issues is Driving the Stair Lift Market in United States
- Factors such as an upsurge in the geriatric population increasing number of patients with musculoskeletal and movement disabilities, coupled with incidences of accidental injuries, are driving the need for stairlifts in the region. For instance, more than 54 million adults aged 65 and older live in the United States. As per the U.S. Census Bureau, by 2050, the total number of adults ages 65 and older is projected to rise to an estimated 85.7 million, roughly 20% of the overall U.S. population.
- As per the 2022 W.A. Disability and Health State Profile, 1,273,876 adults in Washington have a disability. Out of which, major difficulty includes walking or climbing stairs. Moreover, 61 million adults in the United States live with a disability.
- Further CDC suggests that the aging of the U.S. population and the prevalence of doctor-diagnosed arthritis are expected to increase in the coming years. It is also estimated that by 2040, over 78.4 million adults aged 18 years and above will be diagnosed with arthritis, and 34.6 million adults will report activity limitations.
- According to AARP (a United States-based interest group focusing on issues affecting those over the age of fifty), more than 90 percent of seniors prefer living at home for as long as possible versus 10 percent who see moving as a viable option. Emotional ties, familiarity with their community, and overall affordability play a part in a senior's choice to live at home. Stairlifts are one of the easiest preventive tools to install that allow seniors to age. Stairlifts eliminate the fall risk on one of the most challenging environmental aspects of a home-the stairs.
Understand The Key Trends Shaping This Market
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Indoor Installation is Expected to Hold a Major Share
- Most of the sales in the United States occur through stair lifts for indoor purposes. The stair lifts can be mounted on any stairs, regardless of indoor or outdoor surroundings. Recently, it has been observed that the use of indoor stairlifts is growing significantly.
- A survey conducted by Retirement Living revealed that over 80% of Americans aged 55 and older wished to remain independent in their own homes for as long as possible. This preference among the elderly population to age in place necessitates appropriate modifications to their homes to make them as safe as possible. Installation of a stairlift enables them to move around their multi-level home easily, allowing them to continue living independently.
- There is significant demand for the seated stairlift within the residential segment majorly due to its cost-effectiveness as compared to stand stairlift counterpart and end-users growing musculoskeletal problems such as Osteoarthritis, Knee Problems, among others.
- Furthermore, State assistance programs launched by the Government in the region are increasing the demand for the stairlift market. For instance, Illinois residents can seek assistance from the Illinois Home Accessibility Program (HAP), which provides grants to low-income seniors and disabled persons living in the state. The program's goal is to allow an individual to stay at home by making their home safer and more accessible. In turn, the program helps prevent premature nursing home placement. A wide range of home modifications and repairs are available through the program.
- Further, the CHOICE program in Indiana provides a wide range of assistance for seniors and the disabled, from personal care to assist with everyday chores, home modifications, and medical supply assistance. All CHOICE services are designed to help the beneficiary live independently or assist caregivers in caring for loved ones at home.
