The Europe Wheelchair Market was worth USD 1,336.51 million in 2021 and is estimated to be growing at a CAGR of 6.08%, to reach USD 1795.22 million by 2026.
A 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 European market is being driven by a growing geriatric population as well as an increase in the number of disorders requiring mobility support, such as spinal cord injuries. The European region is still at an embryonic stage in terms of wheelchair availability and adoption; however, with increased consumer awareness and supportive government measures, demand for wheelchairs is likely to grow during the forecast period. A prominent trend projected to accelerate market growth in the near future is the evolution of technological advancements in wheelchair designs. The introduction of battery-powered electric wheelchairs is expected to provide greater assistance to users. Along with improvements in design, we're seeing developments that can store and connect the device to the alarm for distress calls in an emergency.
In comparison to rural areas, the improved medical services accessible in cities have resulted in a large increase in the elderly population. With the aging of the population, more people are projected to develop mobility issues, which is expected to drive demand for wheelchairs, moving the European wheelchair market forward throughout the forecast period. Increasing improvements in wheelchair technology, as well as increased awareness of these advanced products, are expected to drive market expansion throughout the forecast period.
In addition, the market is further predicted to grow due to an increasing number of product releases by manufacturers and favorable reimbursement policies over the forecast period. During the forecast period, the rapid increase in the number of spinal cord injuries among the elderly is expected to fuel market sales at a significant rate. During the forecast period, demand for wheelchairs is also predicted to rise due to an increase in the prevalence of walking difficulties among all age groups and an increase in the incidence of lower extremity injury.
However, the high expense of an electric wheelchair, as well as a lack of awareness and infrastructure, make it difficult to adopt one. Supply chain disruptions, protracted lockdowns, and cancellation of other medical operations are expected to hamper the European wheelchair market's growth rate.
This research report on the European wheelchair market has been segmented and sub-segmented into the following categories:
In Europe, the German wheelchair market had the highest revenue share in 2020 and is expected to continue to grow at a healthy rate over the forecast period. This is due to improved technologies, widespread product availability, a good reimbursement framework, and a strong healthcare system. Rapidly evolving technological improvements in wheelchairs, as well as the development of other products, such as powered wheelchairs, by a number of companies, are expected to boost wheelchair sales in the future years.
Ambient Assisted Living's (AAL) iWalkActive program intends to merge ICT technology with traditional walkers to develop a smart walker platform for the older European population to aid in walking. The market for mobility aids is expected to grow as a result of such activities. Furthermore, the government's rising measures to provide improved wheelchair accessibility in this region are likely to enhance the market growth.
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 European wheelchair market.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferences
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Europe wheelchair market, By product
6.3.1 Market Size Estimations & Forecasts (2021-2026)
6.3.2 Y-o-Y Growth Rate Analysis
6.3.3 Market Attractiveness Index
6.4 Europe wheelchair market, By Application
6.7 Ambulatory Surgical Centres
6.8 Rehabilitation Centres
6.8.1 Market Size Estimations & Forecasts (2021-2026)
6.8.2 Y-o-Y Growth Rate Analysis
6.8.3 Market Attractiveness Index
6.9 By category
6.11.1 Market Size Estimations & Forecasts (2021-2026)
6.11.2 Y-o-Y Growth Rate Analysis
6.11.3 Market Attractiveness Index
7. Geographical Landscape
7.1.1 By Country
220.127.116.11 Rest of Europe
7.1.2 By product
7.1.3 By Application
7.1.4 By category
8. Key Player Analysis
8.1 Invacare Corporation
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Carex Health Brands
8.4 Sunrise Medical Limited
8.5 Drive Medical Design & Manufacturing
8.6 Pride Mobility Products Corp
8.7 GF Health Products, Inc.
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
Regional, and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and also identify the areas that are still untapped.
The segment-level analysis in terms of product, category, application, and country along with market size forecasts and estimations to detect key areas of industry growth in detail.
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development.
A comprehensive list of key market players along with their product portfolio, current strategic interests, essential financial information, legal issues, SWOT analysis, and analyst overview to study and sustain the market environment.
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies, and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions.
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations with a strong financial foothold in the market.