Global Wheelchairs Market — Insights
A wheelchair is used when walking is difficult or impossible due to illness, injury, or disability. Wheelchairs can be classified as manual wheelchair and power or electric wheelchair. They can be used both in indoor and outdoor environment. Wheelchairs are also tailored according to individual needs and purpose of application. Use of wheelchair can help an individual in reducing back pain and sores. It can also help in improving digestion and respiration of the individual. Injured or disabled patients with high upper body strength prefer manual wheelchairs, whereas as those who feel fatigue easily choose electric wheelchair. Apart from electric wheelchairs, production and demand for solar-powered wheelchair with retractable roof has also increased in the recent past.
Increasing R&D of sports wheelchair, stair climbing wheelchair, and smart wheelchair, increasing geriatric population, and increasing number of people with disabilities are some of the factors boosting growth of the wheelchairs market over the forecast period.
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The global wheelchair market was valued at US$ 4,390.4 million in 2016 and is expected to witness a robust CAGR of 15% during the forecast period (2017-2025).
Global Wheelchairs Market — Drivers
Increasing number of people with walking disability is expected to propel growth of the global wheelchairs market. For instance, according to the Centers for Disease Control and Prevention (CDC), 18.2 million adults in the U.S. had disability in walking in 2017. Increasing incidents of fall and injury is also expected to boost growth of the market. For instance, according to CDC, 54.4 million U.S. adults are annually diagnosed with some form of arthritis, which increases the risk of fall and injury.
Furthermore, increasing cases of spinal injury resulting in disability contributes to growth of the market over the forecast period. For instance, according to the National Spinal Cord Injury Statistical Center’s report in 2016, in the U.S., around 314 million people suffer from spinal cord injury. Increasing geriatric population is also expected to boost growth of the global wheelchairs market. For instance, according to the National Institute on Aging in 2010, 524 million people were estimated to be of age 65 or older, which is 8% of the world’s population. Moreover, the number is expected to reach 1.5 billion, representing 16% of the world’s population by 2050.
Global Wheelchairs Market — Regional Analysis
On the basis of region, the global wheelchairs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in North America is expected to hold dominant position in the market over the forecast period, followed by Europe and Asia Pacific. The market growth in North America is driven by increasing geriatric population in the region. For instance, according to Population Reference Bureau 2016 report, in the U.S., around 46 million people of age 60 and above are estimated to use wheel chair and the number is expected to reach around 98 million by 2060.
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Increasing population and high investment in the healthcare sector is expected to boost growth of the market in Asia Pacific. For instance, Asia Pacific is home to 60% of the world’s current population.
Global Wheelchairs Market — Competitive Landscape
Major players operating the global wheelchairs market include, Pride Mobility Products Corporation, Invacare Corporation, Sunrise Medical LLC, Ottobock Healthcare, Aquila Corporation, EASE Seating System, Medical Depot Incorporation, 21st Century Scientific, Inc., Permobil AB, LEVO AG, GF Health Products, Inc., MEYRA GmbH, Hoveround Corporation, Aspen Seating, Drive Medical, and Eagle Sportschairs LLC.
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