The Latin America wheelchair market size is estimated to reach USD 503.53 million by 2027. In 2022, the market was sized at USD 345.80 million, at a CAGR of 7.81% during 2022 - 2027.
The wheelchair is an assisted device to improve the quality of life by supporting personal mobility-related issues in people who have disabilities in walking, like individuals with spinal cord injuries, muscular dystrophy, arthritis, old age, etc.
The growth of the wheelchair market is significantly contributed by the growing number of spinal disorders such as spinal cord injuries.
The constantly expanding elderly population is one of the primary drivers for the wheelchair market. As people become older, they are more likely to develop mobility issues expected to raise demand for wheelchairs, propelling the market forward throughout the projected period. According to a United Nations estimate, over 250 million people worldwide are currently experiencing moderate to severe mobility.
Along with the rapid rise in the number of spinal cord injuries among the elderly, the market is expected to grow at a high rate over the projected period. In addition, the government rising measures and policies to provide advanced wheelchair accessibility in low-resource nations are likely to promote market growth throughout the projection period.
According to the World Health Organization (WHO), 15.0 percent of the population (or 1 billion people) has a disability that requires the use of mobility aids. Furthermore, as opposed to other diseases, the prevalence of chronic conditions is increasing, resulting in an increase in disability and a demand for wheelchairs.
In general, there are two types of wheelchairs on the market: manual and motorized. Manual wheelchairs do not have a battery and must be operated by hand. Because the majority of the users are elderly and crippled, they must rely on others to operate their wheelchairs. Powered wheelchairs, which run on electricity and may be operated by patients, are an alternative to manual wheelchairs. However, as compared to manual wheelchairs, the cost of these powered wheelchairs is expensive, which is projected to limit the growth of the Latin America wheelchair market during the forecast period.
Key companies are continually active in launching new wheelchairs and associated products in the industry, which stimulates growth in the wheelchair market. For example, Yamaha Motor Corporation of the United States has announced its NAVIGO joystick power system for wheelchair users. NAVIGO is a lightweight and powerful joystick power system that may be used with manual wheelchair frames. As a result, new product releases present firms with a huge potential to grow their market share.
Participants in Latin America indicated certain community areas or infrastructures where they described regular wheelchair market issues. The utilization of adapted forms of mobility in wet or snowy circumstances is the wheelchair market's most significant problem.
This research report on the Latin America wheelchair market has been segmented and sub-segmented into the following categories:
By Product:
By Category:
By Application:
By Country:
Latin America wheelchair market is expected to account for a promising share during the forecast period. The regional market growth is attributed to the rise in the senior population and an increase in the number of people with mobility impairment illnesses. Furthermore, essential players in the mobile device industry in Latin America are expected to boost market growth. In addition, the increased usage of powered wheelchairs and the expanding unmet needs in the region, Latin America is expected to see significant market expansion. Emerging countries such as Argentina, Mexico, and Brazil are expanding the Latin American wheel Chair market.
Brazil is anticipated to account for a significant share in the wheelchair market in the coming years. The market growth is driven owing to an increase in the number of children with developmental disabilities and the number of unintentional injuries resulting in loss of mobility.
KEY MARKET PLAYERS:
Invacare Corporation, Carex Health Brands, Ottobock, Sunrise Medical Limited, Drive Medical Design & Manufacturing, Pride Mobility Products Corp., and GF Health Products, Inc. are a few of the prominent companies operating in the Latin America wheelchair market.
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