The Wheelchair market was valued at USD 4,155.31 million in 2021 and is projected to reach USD 6,600 million by 2026. it is expected to grow at a CAGR of 6.9% from 2021 to 2026.
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. Wheelchairs provide freedom for the disabled person to perform daily tasks in comfort to do normal daily functions. Patients suffer from restricted mobility due to injury, illness, or disability. There are different types of wheelchairs available in the market, which included manual and automatic/ electrical wheelchairs to accommodate the needs of the patient. The wide range of wheelchairs ranges in the control mechanisms, the method of use, and the technology. Significant efforts have been made over the past decade to develop a wheelchair with innovative features.
The increase in the geriatric population and the growing number of disorders such as spinal cord injuries requiring mobility assistance are driving the wheelchair market. Approximately 63 million adults live with disabilities in the United States, out of which nearly 14.7% have a motor disability with severe movement difficulty for walking or climbing stairs. The World Bank has reported that approximately 1.2 billion people, or 15% of the world's population, have a disability, and more than 22% of those 1.2 billion people are severely affected. Other factors such as growing consumer awareness and an increase in favorable government initiatives are expected to increase the demand for wheelchairs in the years to come.
According to the World Health Organization, 52 million people are injured each year due to traffic accidents around the world. According to the Centers for Disease Control and Prevention (CDC), about 24 million adults have limited their activities because of arthritis, and more than one in four adults with arthritis suffer from severe joint pain, limiting their lifestyle. Therefore, the increasing prevalence of disorders and accidental mishaps require mobility assistance driving a high demand for the wheelchair market in the forecasted period.
A wheelchair improves physical health by helping to reduce general problems, including social and mental health benefits to the patient. Using a wheelchair also decreases the long-term side effects such as bone deformities, pressure sores, improved metabolism, and exercise. Currently, there is an increasing demand for automatic or electrical wheelchairs as they are lightweight and require less assistance. In 2018, it was recorded that 3.5 million wheelchairs were used in the United States, of which 1.9 million were above the age of 65 years. These numbers are expected to increase each year, with an expectation of nearly 2.3 million new wheelchair users per year. Electric wheelchairs are more popular in developed countries and manual wheelchairs are more popular in developed countries due to cost prices and easy availability.
However, factors such as the high cost of electric wheelchairs and the lack of healthcare infrastructure are hampering the growth of the global wheelchair market.
The current market trend has companies adopting newer product launches and business models to expand their products in the world and meet the unmet growing demand for wheelchairs. Many companies are looking for technological advancements involving artificial intelligence to grow the range of product options. Market players to expanding their product portfolio in developing regions. Market players operating in the wheelchair market are mainly targeting old age homes, hospitals, and rehabilitation centers to meet the changing demand of customers around the world.
Certain factors namely the availability of other disability substitutes such as walking aids and tough competition for many various products may create challenging barriers to market growth in the years to come.
COVID-19 Impact on the global wheelchair market:
However, the COVID-19 pandemic restricted the transport and supply-demand crisis in 2020, leading to product shortages and rising costs, as well as decrease sales of wheelchairs. Lockdown in china made it difficult for wheelchair manufacturers to source the necessary products, components, and raw materials. Many companies are expected to resume their operations due to the ease of closure towards the end of 2021, which will support market growth in the years to come.
Market Size Available
2020 to 2026
2021 to 2026
By Product, Category, Application, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
This research report on the global wheelchair market has been segmented and sub-segmented based on product, category, application, and region.
Wheelchair Market - By Product:
Based on the product, the manual segment accounted for the largest share of the market. Manual wheelchairs are in high demand around the world due to their low cost, lightweight, and lack of need for electricity. They also come in a range of configurations and weights, ranging from standard to ultra-lightweight, and take up little space to the fact that many of the models are foldable. However, because of the availability of advanced healthcare facilities in developed countries such as the United States, electric wheelchairs are more popular.
Wheelchair Market - By Category:
Based on the category, the Adults segment witnessed a significant share in the wheelchair market. However, the segment growth is expected to maintain its growth throughout the forecast period. The geriatric population significantly contributes to the wheelchair market, as senior people are more prone to various disorders and have leg-related problems. In addition, due to the rising prevalence of juvenile illnesses such as cerebral palsy, the pediatric segment is also predicted to rise rapidly in the coming years.
Wheelchair Market - By Application:
Based on the Application, the rehabilitation center is anticipated to register a prominent share in the wheelchair market. The increasing prevalence of accidents victims, growing cases of people suffering from specific illnesses, and abnormal conditions are majorly contributing to the rehabilitation centers' market growth.
On the other hand, the hospital segment is also expected to expand fast, owing to the growing number of medical emergencies that need the use of wheelchairs.
Wheelchair Market - By Region:
Based on the region, The size of wheelchair market in the North America is expected to reach USD 1.8 billion by 2028, registering a CAGR of 8%, with the United States dominating the North American market due to the growing geriatric population which is more likely to increase the demand for mobility products, such as wheelchairs. According to the US Census Bureau, approximately 64 million adults live with a disability in the United States, of which 14.7% have a motor disability, most of them are older Americans. Canada is expected to experience the fastest CAGR of over 8.9% during the forecast period due to the growing number of new businesses in the country. Canada had the second largest market share after the U.S in the wheelchair market in 2019.
The wheelchair market in Europe is expected to grow from the US $ 1,225.1 million in 2020 to approximately US $ 1,890 million in 2028. The market is estimated to increase at an impressive CAGR of 7.3% between 2021 and 2028. The European wheelchair market will grow with new technological developments and the presence of major companies in the region, they are mostly expected to target emerging markets. The wheelchair market in Germany and UK is expected to grow at a good CAGR during the forecast period.
The wheelchair market in APAC region is likely to be the fastest-growing segment in 2020-2028, with a CAGR of 7.7%, due to the growth of the geriatric population in East Asian countries such as Japan and China. According to an article published in The Japan Times in 2019, more than 22% of the Japanese population is over 65, the highest proportion in the world. This growing geriatric population, the increasing prevalence of age-related diseases, the presence of better healthcare and infrastructure, high health costs, increased disposable income, and favorable reimbursement policies are the drivers of market growth in these countries.
The size of the wheelchair market in Latin America is estimated to reach USD 503.53 million by 2026. 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.
The wheelchair market in Middle East & Africa is expected to show steady growth during the projected period owing to the development of healthcare infrastructure and the continued increase in product demand. The Latin American market is also expected to show good market growth opportunities. Brazil is expected to dominate the Latin American wheelchair market during the forecast period.
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 global wheelchair market.
RECENT MARKET DEVELOPMENTS:
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 Global 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 Global 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 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By product
7.2.3 By Application
7.2.4 By category
7.3.1 By Country
220.127.116.11 Rest of Europe
7.3.2 By product
7.3.3 By Application
7.3.4 By category
7.4 Asia Pacific
7.4.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.4.2 By product
7.4.3 By Application
7.4.4 By category
7.5 Latin America
7.5.1 By Country
184.108.40.206 Rest of Latin America
7.5.2 By product
7.5.3 By Application
7.5.4 By category
7.6 Middle East and Africa
7.6.1 By Country
220.127.116.11 Middle East
7.6.2 By product
7.6.3 By Application
7.6.4 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
Global, 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 region 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.