Growth Factors of Wheelchair Market
The wheelchair market size was valued at USD 4.78 million in 2018, and the market is now projected tgrow USD 12.61 million in 2026 exhibiting a CAGR of 7.2% during the forecast period of 2019-2026.
The wheelchair market was affected by COVID-19 in both positive and negative ways; while the virus led tdisruptions in the supply chains and manufacturing industries respectively denying the wheelchairs the market demanded. Wheelchairs’ sales faced a negative impact because people with chronic diseases delayed receiving other surgeries and the lockdown restricted everyone’s movement. Although the proportion of homecare and rehabilitation service was on the rise, the need for personal mobility created the demand. Thus, manufacturers shifted their focus tutilize online selling platforms and toffer remote customer services. In a broad sense it was understood that the market demonstrated this stability and the means for rehabilitation needed by the growing, aging population as well as those with mobility issues.
This is because the populations of these wheelchairs are ageing faster, and due told age, the chances of weakness or such related disorders are very high. The same demographic is likely tboost wheelchair demand and thus drive the market’s growth over the forecast period. A United Nation’s report as quoted by Inclusion International, estimates that about 250 million people in the world have moderate tsevere disability that affects their mobility. The increasing occurrence of such disorders strengthens the case for more sophisticated assistive mobility. This demand is furthered by advances in development and application of wheels and functions of wheelchairs for various users.
It is evidenced that the market for wheelchairs is experiencing certain trends, such as adoption of powered wheelchairs and mobility scooters due tthe improvement of the user’s independence. There is alsa rise in the need for a lightweight and foldable manual wheelchair since they are portable instruments. There is emerging market interest in smart wheelchairs citing IoT capabilities and advanced control technology. Also, there is customer interest in unique shapes and better comfort, and more and more products with ergonomic forms and options. There are alssome advantages that are quite important for the market, such as the changing in the type of customers’ demand from institutional thomecare due tthe aging population and a need for personal mobility.
Comprehensive Analysis of Wheelchair Market
The wheelchair market growth is alsincreasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near tthe industry considering the leading supply and demand forces. These segmentations are methodically segregated by type analysis, by application analysis and by end-user analysis. By type analysis incudes manual and powered wheelchair. By application analysis incudes standard wheelchair, bariatric wheelchair, sports wheelchair, and others. By end-user analysis incudes personal users and institutional users.
The North America region lead the wheelchair market share by benefitting a market size of USD 1.98 billion in 2018 due tthe rising number of developmental disabilities.
Top players in the market have their responsibility of healthcare industrial prospectus growth of the retailing industry and the markets. These players include, Invacare Corporation, Carex Health Brands, Ottobock, Sunrise Medical Limited, Drive Medical Design & Manufacturing, Pride Mobility Products Corp., and GF Health Products, Inc. these market players provide a level-playing competitive landscape.
In April 2021, Permobil announced the acquisition of Progetstrengthen its presence in the Italian market and enhance its manual wheelchair portfoliin Europe.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2015-2026
Base Year 2018
Forecast Period 2019-2026
Historical Period 2015-2017
Unit Value (USD Million)
Segmentation By Type
Manual
Powered
By Application
Standard Wheelchair
Bariatric Wheelchair
Sports Wheelchair
Others
By End-user
Personal User
Institutional User
By Region
North America
Europe
Asia Pacific
Latin America
The Middle East & Africa
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