The global stair lift market could continue to see a healthy growth in spite of the negative economic impact the coronavirus pandemic will continue to have worldwide.
This is according to a new report from ResearchAndMarkets.com, which said that Europe will see the largest growth.
This is due to the ageing population and relatively high wealth per capita.
The report, entitled ‘Stair Lift Market – Global Outlook and Forecast 2020-2025’, suggests the market could see a compound annual growth rate of 8% during the period.
It cites the rise in physical disabilities in the ageing population and adults as the main reason for this continued growth in a difficult economic time.
Furthermore, the report speculates that as more disabled persons opt to live at home instead of in care facilities, the rate of installations will increase.
The summary also reads: “Technological innovations such as curved, outdoor, and wheelchair integrated stair lifts will further boost the market.