Wheelchair market to gain attention, with growing innovation towards advance wheelchairs The Global Wheelchairs Market was valued at US$ 4,390.4 million in 2016 and is projected to expand at a CAGR of 15.0% during the forecast period (2017–2025).
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Growing demand for comfort and advance technology is projected to uplift growth of wheelchairs market over the forecast period. Key players are focusing on innovation to tap into emerging market such as India and China. For instance Invacare Corporation supports the 37th Annual National Veterans Wheelchair Games in year 2017 and also display the company’s product named kuschall, which is a custom manual wheelchair. Additionally, in year 2017 there was two day event where athletes with physical impairments participated in Olympic day at Turnstone where Paralympic sports like wheelchair basketball, table tennis, quad rugby were introduced to the individuals which is expected to increase the market of wheelchairs especially active wheelchairs segment. Moreover, key players such as WHILL are combining innovation, style, advance technology and functional versatility to launch the boundaries of electronic wheelchair with the products such as Model M and Model A.
Growing number of aging population is major factor driving the wheelchairs market growth over the forecast period, especially in emerging economies such as China and India, due to rapidly increasing population in these economies. Other major factors are growing awareness regarding various health conditions and investment on healthcare. Additionally, key players are focused on integrating advanced features in wheelchairs to expand their product portfolio in the wheelchairs market, which is again projected to augment the wheelchair market growth in the near future. Sports wheelchairs are also expected to fuel growth of the wheelchairs market. For instance, Eagle Sportchairs, LLC. specifically provides sports wheelchairs such as wheelchair for basketball, quad rugby, tennis, racing, multi-court, and field events, hence helping to improve the lifestyle of disabled people. In a two day event, athletes with physical impairments participated in Olympic day at Turnstone, where Paralympic sports such as wheelchair basketball, table tennis, quad rugby were introduced to the athletes, which is fueling demand for active wheelchair, thus favoring growth of the wheelchairs market. In May 2018, a new sports wheelchair basketball for disabled people were launched by the National Paralympics Committee (NPC) of Rwanda. Moreover, in March 2018, Google maps introduced Wheelchair accessible routes for the convenience of disabled people, which will further increase the adoption of wheelchairs and drive growth of the market over the forecast period.
Key takeaways of the market:
- The global wheelchairs market is expected to expand at a CAGR of 15.0% during the forecast period (2017–2025). Due to growing aging population around the globe is expected to favor the market of wheelchairs over the forecast period.
- The Asia Pacific region in the global wheelchairs market is expected to show high growth rate during the forecast period in terms of value
- In terms of product type segment, electronic wheelchair type is expected to expand at a significant CAGR of 16.6%, in which front wheel drive electric wheelchair is expected to increase during the forecast period, due to more preference because of its features
- The global wheelchairs market is characterized by market expansion in Asia Pacific, North America, and Europe could create higher market revenue owing to increase in prevalence of disabilities.
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Some of the key companies offering wheelchairs are Invacare Corporation, Sunrise Medical LLC, Ottobock Healthcare, 21st Century Scientific, Inc., Permobil AB, Pride Mobility Products Corporation, LEVO AG, GF Health Products, Inc., MEYRA GmbH, Hoveround Corporation, Aquila Corporation, Aspen Seating, Drive Medical, Eagle Sportschairs LLC., EASE Seating System and Medical Depot Incorporation.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Wheelchairs Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Wheelchairs Industry Impact
Chapter 2 Global Wheelchairs Competition by Types, Applications, and Top Regions and Countries
2.1 Global Wheelchairs (Volume and Value) by Type
2.3 Global Wheelchairs (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Wheelchairs Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Wheelchairs Market Analysis
Chapter 6 East Asia Wheelchairs Market Analysis
Chapter 7 Europe Wheelchairs Market Analysis
Chapter 8 South Asia Wheelchairs Market Analysis
Chapter 9 Southeast Asia Wheelchairs Market Analysis
Chapter 10 Middle East Wheelchairs Market Analysis
Chapter 11 Africa Wheelchairs Market Analysis
Chapter 12 Oceania Wheelchairs Market Analysis
Chapter 13 South America Wheelchairs Market Analysis
Chapter 14 Company Profiles and Key Figures in Wheelchairs Business
Chapter 15 Global Wheelchairs Market Forecast (2022-2028)
Chapter 16 Conclusions
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