Wheelchair Market: Information by Product (Electric Wheelchair, Manual Wheelchair, Accessories), by Category (Adults and Pediatric), End-Use (Home Care Settings, Hospitals & Clinics), and Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa)—Forecast till 2027
The wheelchair market was valued at USD 3,720.47 million in 2019 and is expected reach USD 8.1 billion by 2027 to register a CAGR of 6.48% during the forecast period of 2020 to 2027. A wheelchair, fitted with wheels, is used to transport individuals who are unable to walk due to diseases, illnesses, or disabilities. Wheelchairs are primarily used by the differently abled and geriatric population worldwide. Electric wheelchairs are used by elderly and disabled people, as they face difficulties operating a manual wheelchair effectively. People who are unable to walk due to diseases, illnesses, or disabilities are transported in wheelchairs. Worldwide, the population that is disabled and elderly predominantly uses wheelchairs. Elderly and disabled people frequently utilize electric wheelchairs because they have trouble maneuvering a manual wheelchair. Compared to electric wheelchairs, manual wheelchairs are lighter and require less maintenance.
The growing senior population and the use of wheelchairs in industries like athletics are predicted to propel the worldwide wheelchair market’s expansion. The World Health Organization (WHO) predicts that by 2050, the percentage of people over 60 in the world would nearly double, from 12% to 22%. The number of elderly people will rise, which will eventually raise demand for wheelchairs. However, the price difference between manual and electric wheelchairs is significant, which is anticipated to limit market expansion.
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Market Segmentation:
The product, category, and end use segments of the worldwide wheelchair market have been identified.
The market has been divided into categories for electric wheelchairs, manual wheelchairs, and accessories depending on the product. The front wheel drive chair, centre wheel drive chair, and rear wheel drive chair subsegments of the electric wheelchair market are further broken down. Standard manual wheelchairs, light and ultra-lightweight wheelchairs, bariatric wheelchairs, and sports wheelchairs are the many sub-segments of the manual wheelchair market. The accessories market is further divided into wheelchair ramps, armrest accessories, batteries & chargers, postural support accessories, and wheelchair trays. The wheelchair belts & harness accessories market is further divided into the foot and lateral body support accessories as well as postural support accessories. The market of wheelchair has been split into adult and child segments based on category. The market is divided into home care settings, hospitals and clinics, and other end uses based on these categories.
Regional Analysis:
The regions of the Americas, Europe, Asia-Pacific, and the Middle East & Africa make up the global market of wheelchair. Due to the region’s well-established healthcare industry and the presence of major players, the Americas are likely to account for the highest share of the worldwide market throughout the assessment period. In addition, the region’s intense interest in the Paralympics contributes to the market’s expansion for wheelchairs. Due to the large ageing population and high healthcare spending, the Europe market is anticipated to have significant growth. The big patient population and the quick pace of technological advancement make the Asia-Pacific region’s market the one that is expected to grow the fastest.
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Key Players:
The following companies as the key players in the global wheelchair market—Invacare Corporation (US), Otto bock (Germany), Drive Medical (US), Pride Mobility Products Corp. (US), Quantum Rehab (US), Karman Healthcare, Inc. (US), GF Health Products, Inc. (US), Levo AG (Switzerland), Sunrise Medical (Germany), and Medline Industries, Inc. (US).
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