The global wheelchair market is expected to grow at a CAGR of around 5.6% from forecast period 2019 to 2026 to reach the market value of USD 6,388 million by 2026.
Wheelchair refers to the chairs, which are integrated with the wheels. It's a designed solution for the transportation of a person with certain disabilities, which results in the inability to walk. In terms of revenue, the market is presumed to reach US$ 6,388 Mn over the forecast period with the CAGR of 5.6% from 2015 to 2026.
Basically, it’s a mobility device, where a person sits with a walking disability. These are primarily made up of steel, plastic, titanium or aluminum. Steel is mostly used in wheelchairs with standard functioning, along with folding-frame mechanism. Along with this, aluminum is used across the wheelchair industry and especially in lightweight wheelchairs. Titanium is used in the manufacturing of ultra-lightweight frame. Wheelchairs are usually equipped with footplate made from polypropylene plastic with adjustable features, according to the user's size and disability. Apart from this, manual and powered wheelchairs are available in the market, where manual wheelchairs are designed for the operation by the user itself. These are also equipped with an extra handle so that other person can also push the chair. On the other hand, a powered wheelchair is also termed as a motorized wheelchair, powerchair, or electric-powered wheelchair (EPW). As the name suggests, these chairs don't need the efforts of the user or another person, these can be mobilized by the electric power. In addition to these, wheelchairs are available in basic, standard, bariatric and sports compatible functioning. Bariatric wheelchair is intended to support heavy weights and sports wheelchair is mainly designed for mechanically efficient propulsion. Additionally, these are mostly constructed with large camber angles to improve stability.
In terms of end-user, the wheelchair market is segmented into the institutional and personal use among others. The institutional use is intended for short-term use like in hospital and other institutions. Whereas, personal use wheelchairs are intended to the primary mode of mobility for the users suffering from chronic disability. Apart from the above-mentioned usage, wheelchairs are also available as a temporary mode, to commute disabled passengers at airports and railway stations among others.
The overall market is growing owing to the increasing prevalence of diseases which causes walking disability among individuals coupled with the rising geriatric population. The increasing product portfolio with the incorporation of advanced features in existing products by the development of new products by key players is also propelling the demand in the market. The rising incidence of accidents, which causes permanent or temporary physical disability, is a factor boosting the market value. The constantly increasing obese population across the globe due to drastic changes in daily lifestyle is another factor accelerating the demand for wheelchairs. Along with these, the increasing spending on healthcare infrastructure in some emerging economies is likely to support the market growth.
On the flip side, the high cost associated with the advance wheelchair options is expected to hamper market demand over the forecast period. Along with this, the unavailability of proper healthcare solutions in several developing and underdeveloped economies is further expected to limit the growth of the wheelchair market during the forecast period. Whereas, the untapped market of developing and underdeveloped economies are anticipated to create potential opportunities during the forecast period.
The powered wheelchair is dominating the overall product segment of the global wheelchair market. The availability of advance and powered options in the market including electric and motorized wheelchairs are favoring the growth of the segment. The increasing disposable income is also supporting the demand for a powered wheelchair. Along with these, the availability of electric wheelchair in lightweight variants is further boosting the market value. The rising trend of busy and sophisticated lifestyle along with ease of usage is also a factor favoring the demand for a powered wheelchair in the market.
In terms of functioning, the standard wheelchair is dominating the market owing to its easy operation and availability in the market. Furthermore, the personal use wheelchair is leading the end-user segment. The segment is also expected to continue with the same pace over the forecast period due to the presence of a large customer base of personal use wheelchair across the globe.
The market research study on “Wheelchair Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight on the global wheelchair market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights on global wheelchair market, its product, function, end-user, and major geographic regions. The report covers basic development policies and layouts of technology development processes. The report also covers global wheelchair market size, and segment markets by product, function, end-user, and geography, along with the information on companies operating in the market.
The global wheelchair market is studied across the region of North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report. The North America region is dominating the regional market in terms of value over the forecast period. The region is primarily gaining pace owing to the increasing focus of major manufacturers in terms of expansion in developed countries like the U.S. The increasing development of technologically advanced products is also contributing to the regional market growth. The rising prevalence of lifestyle diseases, which cause walking disability such as osteoporosis, and other autoimmune diseases are further supporting the regional market value.
The players profiled in the report include 21st century Scientific Inc., Drive Medical, GF Health Products Inc., Hoveround, Invacare Corporation, Karman Healthcare, Ottobock, Permobil, Pride Mobility Products Corp and Sunrise Medical LLC.
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