Wheelchair Market Size to Surpass USD 8.1 Billion by 2027 at 6.48% CAGR – Report by Market Research Future (MRFR)

Wheelchair Market Trends and Insights 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), Competitive Market Growth, Size, Share and Forecast to 2027

New York, New York, UNITED STATES

New York, USA, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Wheelchair Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Wheelchair Market Information by Product, Category, End-Use, and Region - Forecast till 2027”, the market was worth USD 3,720.47 million in 2019 and can expect to touch USD 8.1 billion by 2027 while capturing a CAGR of 6.48% between 2020 and 2027.

Market Synopsis

The massive burden of debilitating diseases, expanding senior community, and the surge in the risk associated with cultural ailments gas raised obesity rates. The prevalence of unhealthy lifestyles and the said increase in obesity rates contribute to the sales of wheelchairs. Therefore, over the coming years, the wheelchair market could anticipate substantial growth, mostly in emerging countries like India.

The wheelchairs industry has also experienced AI-breakthrough in recent years, largely supported by Volkswagen and Google. This technological development facilitates longitudinal searching, natural language processing, and various other important tasks.

The electric wheelchair segment is in the lead, given the escalating number of patients who lack endurance and strength, and the popularity of these types of wheelchairs among them. Since the US and similarly developed countries consist of highly sophisticated and advanced treatment centers, mobility scooters have become quite common there.

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Report Scope:

Report AttributeDetails
Market Size in 2027USD 8.1 Billion
Base Year2019
Forecast Period2020-2027
Historical Data2020
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Product, Category and End User
Geographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market DriversIncreasing geriatric population
Rising popularity of Paralympic games

Wheelchair Market Competitive Landscape:

The affluent companies in the wheelchair market include

  • Invacare Corporation (US)
  • Ottobock (Germany)
  • Drive Medical (US)
  • Pride Mobility Products Corp. (US)
  • Quantum Rehab (US)
  • GF Health Products, Inc. (US)
  • Karman Healthcare, Inc. (US)
  • Levo AG (Switzerland)
  • Sunrise Medical (Germany)
  • Medline Industries, Inc. (US)

July 2022

The Mountain Trike Company launched a modern electric wheelchair called ePush in the Birmingham market. It has been developed while considering various user feedback. The offering provides the user with electric assistance, allowing them to address steeper hills, challenging terrains, and also experience many adventures.

Wheelchair Market Dynamics:

Market Drivers:

An aging person’s dependence on wheelchairs is what drives the worldwide industry. The expansion of this demography across the globe, the rise in illnesses affecting a large population, and the increase in people’s living standards could cement the market position. Also, the constant innovations in wheelchairs and the convenience they provide to disabled patients foster sales of wheelchairs.

Furthermore, wheelchair manufacturers are stepping beyond the mechanical wheelchair and are working on autonomous chairs that come in new designs. Apart from this, various government initiatives are being implemented in various nations, allocating wheelchairs to individuals dealing with locomotor impairments. This will be extremely favorable for the worldwide market in the ensuing years.

Market Restraints:

Low awareness levels about the latest types of wheelchairs and the poor economic growth in underdeveloped countries could challenge the worldwide market in the long run. Also, poor healthcare infrastructure in a few underdeveloped countries can have a detrimental effect on the global industry.

Browse In-depth Market Research Report (158 Pages) on Wheelchair: https://www.marketresearchfuture.com/reports/wheelchair-market-8405

COVID 19 Analysis

The COVID-19 outbreak’s notable impact has led to various repercussions on the health status of people across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.

Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. Also, the impact on the supply chains of several companies will be unfavorable for the wheelchair market.

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Wheelchair Market Segmentation

By Product Type

Major product types available in the market include manual wheelchairs as well as electric wheelchairs and accessories.

The demand for electric wheelchairs in the market is exceptionally high since these types are convenient for users with weak upper bodies. Electric wheelchairs witness strong demand in developed countries, like the U.S., given the country’s high focus on technological innovations and high financial status.

By End-User

Key end users of wheelchairs are home care settings coupled with hospitals and clinics.

The hospitals and clinics segment could procure the fastest development rate in the years ahead, on account of the surge in medical emergencies that call for the use of wheelchairs. The post-surgical procedures also happen to enhance the need for wheelchairs. In hospitals, wheelchairs help transport patients, or visit a doctor’s office.

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Wheelchair Market Regional Outlook

The biggest market size is in America, as the region is home to a huge number of renowned players that offer some of the latest designs in wheelchairs. Also, the surge in chronic diseases, and escalating number of elderly patients in the US as well as Canada combined with the emergence of highly innovative wheelchairs will benefit the market. The demand for robotic wheelchairs has risen tremendously in the region over the past couple of years, thanks to the notable spike in the obesity rate, as these individuals are unable to partake in activities requiring quick mobility.

The Asia Pacific can potentially be the fastest developing market in the years to come, with China projected to take the lead. The vast and ever-increasing population of patients in addition to the escalation in hospitals and healthcare facilities in the Asia Pacific will induce significant market growth.

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