Wheelchair Market Size Worth USD 9554 Million By 2024 | COVID-19 Impact, Growth Analysis, Future Insights, Latest Trends and Share Estimation
Wheelchair Market: Information by Product Type (Electric Wheelchair {Rear Wheel Drive Chair}, Manual Wheelchair {Sport Wheelchairs}), Accessories {Wheelchair Ramps}), End User (Home Care Settings and Hospitals and Clinics) and Region – Forecast till 2024
Pune, India – June 17, 2020 /MarketersMedia/ —
Wheelchair Market Analysis
The global wheelchair market size is likely to touch USD 9,554.07 million at a 2.80% CAGR between 2019- 2024, according to the recent wheelchair market statistics by Market Research Future (MRFR). Wheelchairs, simply put, are medical devices used by people not capable of walking owing to injury, illness, or disability, moving from one place to another. The electric wheelchair market and the robotic wheelchairs market are having a positive growth for its ease of use and multiple alluring features installed in them.
Various factors are adding to the global wheelchair market growth. Such factors, according to the new MRFR report, include rising popularity of Paralympic games, increasing geriatric population, and rising handicapped population which need wheelchair support. Besides, advances in wheelchair technology like electric wheelchairs and also wheelchairs that can store the medical history of the patient along with the ability to monitor the health of the patient and making distress calls during emergencies is also adding market growth.
On the contrary, high product costs may limit the wheelchair market growth over the forecast period.
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Wheelchair Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global wheelchair market report based on end user and product type.
By product type, the wheelchair market is segmented into an electric wheelchair and manual wheelchair. The electric wheelchair is again segmented into front-wheel drive chair, center wheel drive chair, and rear-wheel drive. The manual wheelchair is again segmented into sports wheelchairs, bariatric wheelchairs, ultra-light wheelchairs, and standard manual wheelchairs. Of these, the manual wheelchair will lead the market over the forecast period.
By accessories, the wheelchair market is segmented into batteries and chargers, wheelchair trays, armrest accessories, postural support accessories, and wheelchair ramps.
By end user, the wheelchair market is segmented into hospitals and clinics and home care settings. Of these, home care settings will dominate the market over the forecast period.
Wheelchair Market Regional Analysis
Based on the region, the wheelchair market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the Americas will have a major share in the market over the forecast period. Factors boosting the wheelchair market in the region include increasing aging population in Canada & the US, growing prevalence of chronic diseases, and the presence of key market players in the region. This region is predicted to grow at a 2.24% CAGR by 2024. Additional factors adding market growth in the region include an increase in the geriatric population and a rising number of people affected by mobility impairment disorders.
The wheelchair market in Europe is likely to hold the second-largest share over the forecast period for the increasing healthcare infrastructure and the growing geriatric population.
The wheelchair market in the APAC region is predicted to grow at a fast pace during the forecast period. The rising number of hospitals and a huge patient population are adding market growth. Besides, the rising number of accidental injuries and rising development disabilities among kids are also adding market growth in this region. China is a major contributor in the region.
The wheelchair market in the MEA is predicted to have a healthy growth over the forecast period for the accessibility of treatment facilities and growing awareness regarding the limited access. Besides, rising unmet needs and increasing use of powered chairs are also adding market growth in the region.
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Wheelchair Market Key Players
Notable players profiled in the global wheelchair market report include Pride Mobility Products Corp. (US), Invacare Corporation (US), Medline Industries, Inc. (US), Quantum Rehab (US), Karman Healthcare, Inc. (US), GF Health Products, Inc. (US), Drive Medical (US), Levo AG (Switzerland), and Ottobock (Germany).
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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