Use of wheelchair aids to reduce back pain and sores. The demand for manual wheelchairs is high for injured or disabled patients with high upper body strength. The demand for electric and solar-powered wheelchairs has increased in the recent past.
The global wheelchair and components market is estimated to account for US$ 5,739.7 Mn in terms of value by the end of 2027.
Global Wheelchair and Components Market: Drivers
Increasing geriatric population is expected to aid in growth of the global wheelchair and components market over the forecast period. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.
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Global Wheelchair and Components Market: Opportunities
Increasing demand for lightweight & ultra-lightweight wheelchairs is expected to offer lucrative growth opportunities for players in the global wheelchair and components market. Use of lightweight wheelchairs can increase the range of distance and terrains. Moreover, such wheelchairs offer protection from the strains of regular wheelchair use.
Global Wheelchair and Components Market: Restraints
Lack of awareness and infrastructure, especially in emerging economies, such as broken pathways, non-availability of ramps in buses & trains for wheelchair users is expected to hamper growth of the global wheelchair and components market.
The Continuous Fiber Composites segment in the global wheelchair and components market was valued at US$ 2,090.9 Mn in 2019 and is expected to reach US$ 2,928.6 Mn by 2027 at a CAGR of 4.1% during the forecast period. The growth of the segment is attributed to increasing technological innovation in material design during the forecast period.
The Hand Rims & Wheel Rims segment held dominant position in the global wheelchair and components market in 2019, accounting for 36.1% share in terms of value, followed by frames segment respectively. Increasing demand for lightweight & ultra-lightweight wheelchairs is expected to drive the segment growth during the forecasted period.
The use of carbon fiber material in production of wheelchairs is increasing currently. This is owing to several advantages offer by carbon fiber material such as more flexibility compared to both steel and aluminum and high shock resistance.
Market players are offering new products with adjustment features. For instance, Permobil offers the TiLite Pilot, a manual wheelchair for children with adjustment features.
Global Wheelchair and Components Market: Competitive Landscape
Major players operating in the global wheelchair and components market include:
- OEM Companies: Invacare Corp., Ottobock, Permobil AB, Pride Mobility Products Corp., Handicare, Sunrise Medical, Hoveround, Panthera X, 21st Century Scientific, Inc., and Meyra Wilhelm Meyer GmbH & Co. KG
- Tier 1 Component Suppliers Companies: Tetra Equipment GMBH, Custom Engineered Wheels, The Wheelchair Place, LLC, Alber GmbH, and Intelli Wheels
- Material Suppliers Companies: E.I. DuPont De Nemours and Company, Toray Industries, Inc., Mitsubishi Rayon Co., Ltd., Toho Tenax, and Shanghai Cedar Composites Technology Co., Ltd.
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Global Wheelchair and Components Market: Key Developments
- In February 2019, Karman Healthcare launched Tranzit Go Foldable Power Wheelchair, a lightweight and functional everyday power wheelchair.
- In August 2018, Sunrise Medical acquired Magic Mobility, a designer and manufacturer of all-terrain power wheelchairs.
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