According to Vision Research Reports, the wheelchair market size was valued at US$ 2.7 billion in 2021 and is expected to hit around US$ 4.5 billion by 2030, poised to grow at a CAGR of 10% during the forecast period 2022 to 2030.
According to Vision Research Reports, the wheelchair market size was valued at US$ 2.7 billion in 2021 and is expected to hit around US$ 4.5 billion by 2030, poised to grow at a CAGR of 10% during the forecast period 2022 to 2030.
Growth Factors
The rising demand for mobility assistance and the geriatric population is expected to drive market growth. As per the Americans with Disabilities Act, a wheelchair is designed mainly for use by an individual with a physical disability. Wheelchairs can be used for both indoor and outdoor purposes. An increase in life span and the number of elderly persons at a global level is one of the key reasons expected to contribute to the growth of the market.
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The market is disrupted due to the COVID-19 pandemic which affected the market due to the restrictions and lockdown imposed by the government as a result, the demand and sale of the product decreases. The demand for a wheelchair is expected to increase due to the rising geriatric population and mobility issues that occurred to the people during the pandemic. Although the number of hospital visits by regular patients had reduced during the lockdown, the number of patients affected with COVID-19 witnessed a spike. With the ease of lockdowns, the manufacturing operation of the mobility device is expected to come back to normal.
The rise in the number of disorders requiring an assistive device is also one of the key factors expected to contribute to market growth. The most common disabilities that need a mobility device is spinal cord injuries. As per the National Spinal Cord Injury Statistical Center, around 294,000 people currently living with spinal cord injuries, in the U.S. with 17,7300 new cases each year. Thus, the U.S. is expected to be a major potential market for the supplier and manufacturers of mobility devices over the forecast period.
Product Insights
The electric wheelchair segment led the global market in 2021 with a revenue share of more than 56% and is estimated to expand at the fastest CAGR over the forecast period. These wheelchairs are ideal for users having no upper body strength. Electric wheelchairs are more popular in developed countries, such as the U.S., owing to the availability of advanced healthcare facilities. In July 2020, Scewo launched Scewo Bro, an electric wheelchair that can also operate on stairs independently and effortlessly. It is available in Austria, Switzerland, and Germany.
The manual product segment is also estimated to have a significant growth over the forecast years due to the high demand for manual wheelchairs on account of their low cost and weight and non-dependability on charging. Also, they are available in a variety of configurations and weights, from standard to ultra-lightweight, which require little space as a lot of the product models are foldable. In 2019, Permobil, a leading player in advanced medical technology, launched SmartDrivePushTracker E2, an advanced power assist system for manual wheelchairs.
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Category Insights
The adults segment dominated the market and accounted for the largest revenue share of 69% in 2021. The segment is projected to continue its dominance over the forecast period. This is mainly due to the increasing elderly population globally, which forms part of the definition for adults. Adults comprise of individuals from the age group of 18 onwards. Disability in older people due to arthritis pain, or stiffness in a knee, hip, ankle, or foot increases the demand for wheelchairs.
The pediatric segment is also expected to grow significantly owing to the growing number of childhood disorders such as cerebral palsy. Cerebral palsy is one of the most common movement disorders that require wheelchairs. According to the Cerebral Palsy Guidance, over 10, 000 babies in the U.S. are born with this disorder each year. It is the most commonly diagnosed movement disability of childhood in the U.S. Thus, pediatric segment is expected to be a key revenue generator for wheelchair manufacturers in the coming years.
Application Insights
The rehabilitation centers segment dominated the market and accounted for the largest revenue share of more than 35% in 2021. However, the segment will witness sluggish growth over the forecast period. On the basis of application, the global market has been divided into homecare, hospitals, Ambulatory Surgical Centers (ASCs), and rehabilitation centers. The hospitals segment is expected to register the fastest CAGR from 2022 to 2030.
This growth is credited to the increasing cases of medical emergencies that require wheelchairs. The post-surgical procedures boost the demand for wheelchairs. In hospitals, these chairs are mainly used for transporting patients, and to a visit to a doctor’s office in a large-scale medical facility.
Regional Insights
North America dominated the global market in 2021 and accounted for the largest revenue share of 36%. This growth is owing to the high target population and increased adoption of advanced wheelchairs. Moreover, the presence of a large number of market players in the region will; further boost the market growth during the forecast period. According to our analysis, a lot of small enterprises are coming up with specialized wheelchairs to cater to niche audiences. For instance, in January 2020, a U.S.-based startup, Segway, Inc., launched an egg-shaped pod that allows people to sit while they effortlessly cruise around campuses, theme parks, airports, and even cities. This pod can also be used by individuals with wheelchair needs and particularly caters for transportation with a high speed of 24 mph.
In Asia Pacific, the market is projected to register the fastest CAGR during the forecast period. The region is backed by large population base in countries, such as India and China, owing to the improvements in healthcare facilities and growing government initiatives for offering quality mobility devices. Moreover, high geriatric population in countries, such as Japan, also supports market growth.
Key Players
- Carex Health Brands, Inc.
- Drive Medical Design & Manufacturing
- Graham-Field Health Products, Inc.
- Invacare
- Medline
- Sunrise Medical LLC
- Karman Healthcare
- Quantum Rehab, Numotion
- Pride Mobility Products Corp.
Market Segmentation
- Product Outlook
- Manual
- Electric
- Category Outlook
- Adults
- Pediatric
- Application Type Outlook
- Homecare
- Hospitals
- Ambulatory Surgical Centers
- Rehabilitation Centers
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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