Wheelchair Market Size, Growth and Trends 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 surge in disability cases is foreseen to provide traction to the wheelchair market in the forthcoming period. The healthcare industry reports are produced by Market Research Future, highlighting wheelchair market selections for expansion. A CAGR of 2.80% is foreseen to steer the wheelchair market towards USD 9,554.07 Million by 2024.
The growing approval of Paralympic games, among other sporting events for disabled individuals, is assessed to unlock new development opportunities in the forecast period. The increased demand for electric wheelchairs is further projected to advance the wheelchair market share in the imminent period.
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Wheelchair Market Segmentation
The segmental assessment of the wheelchair market has been conducted on the basis of end-user, product type, and region. The wheelchair market is segmented into Asia Pacific, the Middle East, the Americas, Europe, and Africa based on the regions. Based on the electric wheelchair segment is further sub-segmented into rear-wheel drive chair, center wheel drive chair, electric wheelchair, and front-wheel drive chair. The manual wheelchair segment is sub-segmented into bariatric wheelchairs, light & ultra-lightweight wheelchairs, standard manual wheelchairs, and sports wheelchairs.
The wheelchair market has been segmented into hospitals, home care settings, and clinics based on the end-user. On the basis of product type, the wheelchair market has been segmented into a manual wheelchair and accessories. Based on accessories, the wheelchair market is segmented into wheelchair trays, postural support accessories, wheelchair ramps, armrest accessories, and batteries & chargers.
Wheelchair Market Regional Outlook
The wheelchair market regional review includes regions such as the Asia Pacific, the Middle East, the Americas, Europe, and Africa. The Americas regional market held the principal market share in 2018, and the regional wheelchair market is anticipated to record a CAGR of 2.24% all through the forecast period. This progress of the region is due to the incidence of significant market companies, the increasing incidence of long-lasting diseases, and growing aging inhabitants in the US and Canada’s national markets.
The European region’s wheelchair market established considerable market development due to the mounting elderly population and intensifying healthcare infrastructure. The regional market of Asia Pacific is assessed to be the fastest mounting region globally due to the incidence of an enormous patient population and collective numbers of hospitals. China wheelchairs market held a portion of 27.7% in the Asia Pacific regional wheelchair market in 2018. Similarly, the wheelchair market in the Middle East and Africa regional markets is anticipated to develop due to the rising understanding of the limited admission and accessibility of treatment amenities.
Wheelchair Market Competitive Landscape
The challenges at hand in the worldwide wheelchair market regarding the companies’ essential assets are being augmented more successfully. The market’s progress limits are projected to be decisive and will necessitate neutralization to reveal a good market change. The reestablishment of undertakings on a day-to-day basis is predicted to take a specific period, which will display the development of the surpluses formed in distribution. The monetary support provided by the governments and trade federations is projected to recoup the state of affairs in the future.
The instability in demand and supply influences is projected to impact the wheelchair market in the forecast period positively. The diminishing impact obvious in the market globally is predicted to dwell on its potential future. The requirement for a sensitive examination of the market cues and demand forecasts is estimated to tip to robust market development. The importance of marketing activities is estimated to take the main stage in the market’s goal to achieve normalcy in the coming period.
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The distinguished companies in the wheelchair market are Ottobock (Germany), Medline Industries, Inc. (US), Drive Medical (US), GF Health Products, Inc. (US), Quantum Rehab (US), Pride Mobility Products Corp. (US), Karman Healthcare, Inc. (US), Levo AG (Switzerland), Sunrise Medical (Germany), and Invacare Corporation (US).
NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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