Global Wheelchairs Market Estimated to Value Over USD 5.56 Billion by 2026 End

  • 17 Oct 2019

The global wheelchairs market is estimated to value over USD 5.56 billion by 2026 end and register a CAGR of 5.6% during the forecast period 2019-2026.

Increasing geriatric population and an increasing number of disorders requiring the need for a wheelchair are the major factors responsible for the growth of the market. The improvement in healthcare facilities is boosting the wheelchairs market size. In addition, the handicapped population which primarily requires wheelchair support is constantly increasing the wheelchairs market size. According to the statistics released by WHO, about 15% of world's population is suffering from various forms of disability. Increasing prevalence of chronic disorders remains the major factor for the increase in disability among large volumes of population thus resulting in expansion of the market.

The market is bifurcated into by category, by end-users, and by region. On the basis of product, standing wheelchair holds a major wheelchairs market share. Standing wheelchair is easy to operate and offer more efficiency in comparison with other wheelchair types. Owing to these features, there has been a spike in demand for standing wheelchair thus resulting in expansion of the market.

Based on end-users, the homecare segment is expected to show notable growth. The usage of wheelchairs at home offers the patient complete freedom of movement alongside convenience. Owing to these factors, there has been a rapid growth of the homecare segment thus increasing the wheelchairs market size.

The institution segment is also expected to show exponential wheelchairs market growth owing to the increase in medical emergencies that require wheelchairs. Post-surgical procedures and taking a patient for an MRI are some of the activities that require wheelchairs. The increase in such activities is expected to propel the market growth.

In terms of region, North America dictates the growth of the market. Increasing the adoption of advanced wheelchairs in hospitals coupled with the increasing geriatric population is expected to boost the presence of the market in the region. Adoption of advanced wheelchairs and the increasing disabled population is also positively influencing the market in the region.

The Asia-Pacific region is expected to show exponential growth owing to improving healthcare facilities and infrastructure in developing economies like China, India, and Japan. An increase in disposable income alongside increasing government initiatives aiming towards efficient mobility devices is expected to increase the wheelchairs market share in the region. 

 

Prominent players of the market are Sunrise Medical LLC, Permobil AB, Karman Healthcare, Carex Health Brands, Inc., Quantum Rehab, Pride Mobility Products Corp, Numotion, Graham-Field Health Products,Inc.; Drive Medical Design & Manufacturing; Invacare and TGA Mobility.

 

Competitive Landscape:

  • Pride Mobility Products Corp. in 2018 launched a Q6 Edge 2.0 powered wheelchair. It is expected to meet the performance needs of active users

 

Global Wheelchairs Market Segmentation

By Category

  • Bariatric Wheelchair
  • Basic Wheelchair
  • Sports Wheelchair
  • Standing Wheelchair
  • Others

By End-User

  • Homecare
  • Institution
  • Others

By Region 

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Rest of the World

 

FutureWise Key Takeaways:

  • Growth Prospects
  • SWOT Analysis
  • Key Trends
  • Key data-points affecting market growth

 

Objectives of the Study:

  •  To provide with an exhaustive analysis on the global wheelchairs market by category, by end-users and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • Evaluate and forecast micro-markets and the overall market 
  • To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and the rest of the world
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
  • Profiling of companies to evaluate their market shares, strategies, financial and core competencies

 

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