Portland, April 23, 2019 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “Manual Wheelchair Market by Category (Adult and Pediatric), Design and Function (Basic Wheelchair, Sports Wheelchair, Bariatric Wheelchair, Standing Wheelchair and Others), and End User (Homecare, Institution and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025”. According to the report, the global manual wheelchair market was pegged at $2.61 billion in 2017 and is projected to reach $4.10 billion by 2025, registering a CAGR of 5.8% during the period 2018–2025.
Rise in geriatric population that often suffer from chronic disease including mobility impairment and arthritis, recent technological advancements, favorable reimbursement policies, and surge in investments to enhance healthcare infrastructure are the major drivers of the global manual wheelchair market. However, adoption of electric and automated wheelchairs hinders the market growth. On the contrary, recent advancements in material and engineering design of manual wheelchair are expected to create lucrative opportunities in the coming years.
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Global manual wheelchair market is divided into category, design and function, end user, and geography. Based on category, the market is segmented into adult and pediatric. The adult wheelchair segment is estimated to register the fastest CAGR of 6.1% during the forecast period. Moreover, the segment dominated the market in terms of share in 2017, contributing about two-thirds of the total market share.
On the basis of design & function, the market is divided into basic wheelchair, sports wheelchair, bariatric wheelchair, standing wheelchair and others. The basic wheelchair segment held the largest share, contributing nearly half of the market share in 2017. However, the segment is estimated to grow a CAGR of 6.4% through 2025.
Based on end user, the market is bifurcated into homecare, institution, and others. The homecare segment is expected to manifest the fastest CAGR of 6.4% through 2025. However, the institution segment held the largest share in 2017, contributing nearly two-thirds of the total market share, owing to rise in prevalence of neurological conditions, such as cancer, gynecological complications, cardiac disorders, and ophthalmic ailments.
The market report includes analysis according to geography, including regions such as North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region is projected to manifest the fastest CAGR of 6.4% during the forecast period, owing to unmet healthcare needs, improving healthcare infrastructure, and increasing geriatric population. However, the North America region dominated the market in 2017, contributing about one-third of the total market share.
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The report includes an analysis of the major market players such as Etac AB, Medical Depot, Inc. (Drive DeVilbiss Healthcare), Panthera AB, Karma Medical Products Co., Ltd., NOVA Medical Products, Invacare Corporation, Meyra Group, Gf Health Products, Inc., Medline Industries, Inc., and Sunrise Medical (US) LLC.