The Global Market for Wheelchairs (Powered and Manual) is Projected to Reach 18 Million Units by 2024

Rising Prevalence of Various Disabilities Drive Wheelchairs (Powered and Manual) Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Wheelchairs (Powered and Manual) market. The global market for Wheelchairs (Powered and Manual) is projected to reach 18 million units by 2024, driven by aging population, rising prevalence of conditions affecting mobility and technological advances.  

Wheelchairs are a part of mobility devices and assistive devices or technologies that aid in improving, maintaining or increasing the mobility and other functional capabilities of individuals that have a one or more of mobility impairments. Rapidly aging population and growing prevalence of disabilities, either to congenital, degenerative, and acquired, are the major factors driving demand for wheelchairs. The ballooning global aging population, which is among the most vulnerable to innumerable medical conditions resulting in loss of mobility due to injuries sustained by falling, apoplexia or other ailments, is fast becoming a tidal force fueling worldwide demand for mobility assistance equipment, including wheelchairs. Increasing number of accidents, and prevalence of a wide range of other conditions such as diabetes, neurological disorders, spinal cord injuries, cardiovascular diseases, certain cancers, and other degenerative conditions such as rheumatoid arthritis and osteoporosis, across various age groups are other factors driving growth. Steady shift towards home-based healthcare in developed markets offers significant growth opportunities. Growing support from international organizations, government agencies, corporate players and non-governmental organizations (NGOs), which represent the primary providers of wheelchairs, are also favoring market growth.

Market potential remains substantial with current adoption rates of wheelchair remaining significantly lower to the total number of people needing one. Technological advances are paving way for developing and launching wheelchairs that suit needs of myriad users. Wheelchairs are witnessing notable evolution in terms of functionality, with manufacturers constantly endeavoring to develop new models with novel futures that aim to improve usability and address needs of the bereaved individuals unable to use currently available variants. Technology advancements including smart wheelchairs, robotic wheelchairs, transit strollers, shared control approaches in assistive mobility technology, and other innovative models such as Comb Multifolding Wheelchair and Submersible Wheelchair are also spearheading market growth. Manual Wheelchairs continue to dominate the market, while power wheelchairs are spearheading growth. Growing demand for powered wheelchairs are supported by their superiority over manual wheelchairs in terms of integration of advanced components for enhanced efficiency; balancing functionality and accessibility; and consistent focus on progressive needs of the user. Further, technological advancements that are improving chair functions and pushing down unit prices are making power wheelchairs more affordable for a large number of people thereby driving their adoption.   

As stated by the new market research report on Wheelchairs (Powered and Manual), the U.S. represents the largest market worldwide in value terms. Liberal reimbursement policies, enhanced accessibility due to presence of various manufacturers, and infrastructural mandates such as US government’s initiatives to install ramps and wheelchair accommodating elevators in malls, theatres, parks and public transportation have pushed the US to the top of wheelchair market worldwide. However, Asia-Pacific represents the fastest growing market worldwide in volume terms, with a CAGR of 15.9% through the analysis period. Increasing population of the elderly in certain markets, rising prevalence of various disabilities, increasing incomes, and growing awareness of the need to support the disabled are driving growth in the market.

Major players in the market include 21st Century Scientific Inc., Drive|DeVilbiss Healthcare, Etac AB, Convaid Products, LLC, Foshan Dongfang Medical Equipment Manufactory (Ltd.), Future Mobility Products, GF Health Products, Inc., Invacare Corporation, Karma Medical Products Co., Ltd., Karma Mobility, Karman Healthcare, LEVO AG, Magic Mobility Pty. Ltd., Matsunaga Manufactory Co., Ltd., Medline Industries, Inc., MEYRA GmbH, Otto Bock HealthCare GmbH, Permobil, Inc., Pihsiang Machinery MFG. Co. Ltd., Pride Mobility Products Corporation and Sunrise Medical LLC, among others.

The research report titled “Wheelchairs (Powered and Manual): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Wheelchairs (Powered and Manual) in value and volume terms for all major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. Product segments analyzed include Manual Wheelchairs, Powered Wheelchairs and Mobility Scooters.

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Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

Comments

  1. Bella StewartApril 17, 2020 at 8:00 AM

    Great work. I like your blog. Keep continuing to write a blog more like this. I mentioned here best folding transport wheelchair, i hope it helps to all.

    ReplyDelete

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