Wheelchairs Market Is Estimated To Be USD 4.84 Billion By 2028|Report By Introspective Market Research
Market Overview:
The global market for Wheelchairs estimated at USD 3.7 Billion in the year 2021, is projected to reach a revised size of USD 4.84 billion by 2028, growing at a CAGR of 3.9% over the period 2022-2028.
A wheelchair is a chair with wheels used for transportation when walking becomes difficult or impossible due to a sickness, injury, age-related concerns, or a handicap. It’s a device that can be powered or manually operated and is primarily made for use by people with mobility impairments for indoor or outdoor locomotion. Wheelchairs come in a wide variety of formats to meet and offer different larger demands than the specific needs of their users. They may include specialized seating adaptions, and individualized controls, and may be specific to particular activities. There are a wide variety of types of wheelchairs, differing by propulsion method, mechanisms of control, and technology used. Some wheelchairs are designed for general everyday use, others for single activities, or to address specific access needs. Innovation within the wheelchair industry is relatively common.
The Report Will Include A Major Chapter
- Patent Analysis
- Regulatory Framework
- Technology Roadmap
- BCG Matrix
- Heat Map Analysis
- Price Trend Analysis
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Market Dynamics and Factors:
In 2017, there were 962 million people in the globe who were 60 years of age or older, more than twice as many as there were in 1980, when there were 382 million older people globally. By 2050, when the population is anticipated to be close to 2.1 billion, the number of older people will have more than doubled once more. In the majority of nations, declining or low fertility will coexist with an increase in the absolute number of older people, which will result in higher proportions of older people overall. Around 1.3 billion people are thought to have severe impairments. This equates to 1 in 6 of us or 16% of the world’s population. Due to the rise of non-communicable diseases and longer lifespans, this number is rising.
Worldwide, 131 million people use wheelchairs. Little has changed in the design of mass-market wheelchairs during the past forty years. Utilizing modern digital technologies can enhance accessibility, mobility, and safety. As its name suggests, Guru IoT is an internet of things business in South Korea. It has used the idea of digital twinning to construct a self-driving wheelchair. The wheelchair can get a precise map that is kept on a cloud computing platform and use it to securely traverse its surroundings. This gives the chair greater agility and greater stability at the same time. Increasing the advancement in the technology in Wheelchairs expecting the major opportunities for the Wheelchair market.
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Top Key Players Covered In The Wheelchairs Market:
- Invacare Corporation (U.S.)
- Graham-Field Health Products Inc (U.S.)
- Karman Healthcare (U.S.)
- Quantum Rehab (U.S.)
- Ostrich Mobility Instruments Pvt. Ltd. (India)
- Ottobock SE (Germany)
- Pride Mobility Products Corp. (U.S.)
- Medline (U.S.)
- Sunrise Medical LLC (Germany)
- Carex Health Brands, Inc. (U.S.), and Other Major Players.
Wheelchairs Market Report Highlight:
- By Product, the manual segment is anticipated to lead the growth of the Wheelchairs market in the forecasted timeframe. Manual wheelchairs have several advantages and many active people prefer to use a manual wheelchair as much as possible. Manual wheelchairs come in a variety of weights and configurations, from standard to ultralightweight, and even sport recreation wheelchairs.
- By Category, the adult segment is expected to have the highest share of the Wheelchairs market over the projected period. Frailty is likely to cause individuals to become tired more easily, have reduced levels of physically active and decreased strength than previously, often causing a reduction in mobility. Older adults are at a higher risk of being frail. Often elderly people who are frail are given basic wheelchairs without good postural support that do not meet their needs, thereby boosting segment growth.
- By Application, the homecare The rising prevalence of arthritis and developmental disabilities among the aging population are likely to boost the growth of this segment during the forecast period. In addition to that, the rapid adoption of powered wheelchairs for indoor application among disabled children & injured adults and the launch of advanced wheelchairs specifically designed for home use are anticipated to propel the growth of this segment during the forecast period.
- The North American region is expected to have the highest share of the Wheelchairs market over the projected period. It is anticipated that growing geriatric populations in nations like the U.S. and Canada will increase demand for wheelchairs. The growth of revenue in this area is accelerating as a result of technological advancements and shifting consumer preferences.
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Key Industry Development:
In September 2021, Sunrise Medical, a world leader in advanced assistive mobility solutions, announced that it has completed two strategic acquisitions in Europe in 2022 – Helping Hand Company based in the UK and Now Tech based in Hungary; continuing its strong pursuit of strategic improvements and growth.
In March 2020, Invacare Corporation announced the launch of Invacare AVIVA FX Power Wheelchair, setting a new standard for the front-wheel drive power mobility market.
Wheelchairs Market Segmentation:
By Type
- Manual
- Electric
By Category
- Adult
- Pediatric
- Geriatric
By Application
- Homecare
- Hospitals & Clinics
- Rehabilitation Centers
- Ambulatory Surgical Centers
- Others
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For this report, Introspective Market Research has segmented the Wheelchairs Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest Of Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
Scope of the Report:
The latest research on the Wheelchairs market provides a comprehensive overview of the market for the years 2022 to 2028. It gives a comprehensive picture of the global Wheelchairs industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Wheelchairs market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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