Wheelchair Market Size, Trends and Growth Analysis by Product Type (Electric Wheelchair {Rear Wheel Drive Chair}, Manual Wheelchair {Sport Wheelchairs}), Accessories {Wheelchair Ramps}), End-User (Home Care Settings and Hospitals and Clinics) and Region – Forecast till 2024
Wheelchair Market Overview
The global wheelchair market is expected to exhibit a stable 2.8% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR). The global wheelchair market is expected to reach USD 9.5 billion by 2024, according to the report. The global wheelchair market is profiled in great detail in the research report, providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects. The historical stats of the wheelchair market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The historical stats provided in the report also give analysts a solid platform to base future projections about the market.
Based on this platform, future projections for the wheelchair market’s growth trajectory over the forecast period are provided in the report. The leading players in the global wheelchair market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global wheelchair market. The major drivers and restraints affecting the global wheelchair market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.
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Wheelchairs are medical devices used by people with reduced locomotion due to diseases or other conditions such as disability or injury. The increasing prevalence of chronic diseases as well as trauma cases is likely to be a major driver for the global wheelchair market over the forecast period. Wheelchairs allow patients to move from place to place with relative ease and are thus a crucial component of the rehabilitation programs of patients. The increasing number of people suffering from trauma of the legs or hips is likely to be a major driver for the global wheelchair market over the forecast period. The growing number of geriatric patients is also likely to be a major driver for the global wheelchair market, as geriatrics often need wheelchairs for moving from place to place, as the legs and hips of geriatrics may have weakened over time, leading to a dependence on wheelchairs.
The increasing popularity of the Paralympic games and other disabled sporting ventures is also a major driver for the global wheelchair market, as more and more disabled people are entering sporting endeavors. Inspiring stories of people who have overcome adversity in the form of disability to play in the Paralympic games and other sporting events have inspired many to take up sports. This is likely to remain a major driver for the global wheelchair market, as more and more disabled people are taking up sports in order to stay healthy and productive.
Wheelchair Market Competitive Leaderboard:
Leading players in the wheelchair market include Invacare Corporation, Medline Industries Inc., Sunrise Medical, Levo AG, Pride Mobility Products Corp., Karman Healthcare Inc., GF Health Products Inc., Quantum Rehab, Ottobock, and Drive Medical. Product innovation to increase the functionality of wheelchairs is likely to be a major tactic for players in the global wheelchair market over the forecast period.
Wheelchair Market Segmentation:
The global wheelchair market is segmented on the basis of product, end use, and region.
By product, the global wheelchair market is segmented into electric wheelchairs, manual wheelchairs, and accessories. The electric wheelchair market slightly shades the manual wheelchairs market and is likely to grow at the highest growth rate over the forecast period.
By end use, the global wheelchair market is segmented into home care settings and hospitals and clinics.
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Regional Analysis:
The Americas accounted for the largest share in the global wheelchair market in 2018 and is likely to grow at a robust growth rate over the forecast period. The regional market is expected to exhibit a solid 2.24% CAGR over the forecast period from 2019 to 2024. Europe is also a leading regional market for wheelchairs, followed by Asia Pacific.
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