Global wheelchairs market is estimated to be valued at US$ 9,660.2 million in 2023 and is expected to exhibit a CAGR of 15.3% during the forecast period (2023-2030).
Wheelchair is used for mobility purposes by disabled persons or persons who are unable to walk post injury or certain illnesses such as cerebral palsy. Wheelchairs are available in two types, which are manual wheelchair and power or electric wheelchair. They can be used for outdoor as well as indoor purposes. New developments and innovations, such as sports wheelchair, stair climbing wheelchair, and smart wheelchair are expected to drive growth of wheelchairs market in the near future
Those who cannot walk due to disability, injury, or medical condition (like cerebral palsy) often resort to the use of a wheelchair as a means of transportation. There are two primary varieties of wheelchairs on the market today: manual and electric. They are versatile enough to serve both indoor and outdoor functions. The wheelchair market is predicted to expand in the coming years thanks to new products and innovations like sports wheelchairs, stair-climbing wheelchairs, and smart wheelchairs.
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The wheelchairs market is expected to grow as a result of the rising elderly (geriatric) population and the number of people with disabilities who need mobility aids
Market expansion in the predicted period is anticipated to be driven by the rising prevalence of people with disabilities. For instance, in November 2021, the World Health Organization reported that more than 1 billion people around the world were disabled in some way.
Market expansion is anticipated during the forecast period due to rising wheelchair product launches and technological advancements
In the predicted period, the wheelchair market is expected to grow as a result of growing advancements in technology in wheelchair development, like the use of artificial intelligence by main players in the market. To give just one example, in October 2021, CoMoveIT NV, the first spin-off company of KU Leuven Campus Bruges (Belgium), released a smart wheelchair steering system called CoMoveIT Smart that makes use of sensors and artificial intelligence. The CoMoveIT Smart system is a sensor-based head/foot steering mechanism that employs AI to detect and counteract the user’s involuntary motions.
Key Players
Companies like Invacare, Sunrise Medical, Ottobock, 21st Century Scientific, Inc., Permobil, Pride Mobility Products Corp., LEVO AG, GF HEALTH PRODUCTS, INC., MEYRA GmbH, Hoveround Corporation, Ride Designs, Medical Depot, Inc., and Drive DeVilbiss International are all major players in the market for wheel chairs.
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Wheelchairs Market Report Coverage
| The market size value in 2023 |
Market for wheel chairs– Impact of Coronavirus (COVID-19) Pandemic
Over a hundred countries have reported cases of COVID-19 since the outbreak in December 2019, and on January 30, 2020, the WHO (World Health Organization) declared the situation a global public health emergency.
The main ways in which COVID-19 can influence the economy are through its effects on production and demand, its potential to disrupt distribution channels, and its potential monetary impact on businesses and the financial markets. Several countries, including China,, Saudi Arabia, India, the United Arab Emirates, Egypt, and others, had issues transporting goods because of nationwide lockdowns.
In particular, the COVID-19 pandemic negatively impacted the mobility of people with disabilities. Hospitals and other medical facilities were locked down, making it difficult for patients to get the care they needed. Patients with cerebral palsy or other disabilities often had a compromised immune system, making it more challenging for them to fend off illness. In the UK, for example, between January and November of 2020, people with disabilities had up to a threefold increased risk of dying from chronic obstructive pulmonary disease (COPD), in accordance to an article issued in April 2022 on VaccinesWork, a digital platform hosted by Gavi, the Vaccine Alliance.
Market for wheel chairs: Key Developments
The ‘One Solution’ initiative was introduced in January 2022 by Invacare Corporation, a manufacturer and distributor of non-acute medical equipment like wheelchairs, mobility scooters, walkers, and pressure care and positioning products. The initiative combines the company’s most popular wheelchairs with some of the best seating systems for a comprehensive solution that can be ordered and delivered together.
In February of 2020, Numotion, a CRT service provider, acquired Monroe Wheelchair, a CRT equipment provider. This move allowed Numotion to better serve its clients by expanding its service area.
Market for wheel chairs: Restraint
The high price of wheelchairs is a major barrier to the market’s expansion. For example, in December 2020, the price of an electric wheelchair can be anywhere from around US$ 1,000 to US$ 15,000. This information comes from the Mobility Deck, a free resource for all your mobility needs. Brand, quality, size, features, and needs all play a role in pricing. However, the typical price range for an electric wheelchair intended for everyday use is between $2,000 and $3,000.
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Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of Wheelchairs Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Wheelchairs Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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