Wheelchair Market Overview, Recent Trends, In-Depth Analysis, Size Forecast To 2028

According to Precision Business Insights (PBI) latest report the global wheelchair market is valued at USD 6,273.1 million in 2021. Throughout the forecast period, growing advancements in wheelchair technology, as well as increasing awareness of these advanced products, are likely to fuel market growth. In addition, an increasing number of product releases by manufacturers and favorable reimbursement policies are expected to drive market expansion. Advancements in homecare in developing countries provide market opportunities to the key players.

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Standard Wheelchair Segment Dominates the Wheelchairs Market:
The market is categorized into a standard wheelchairs, bariatric wheelchair, sports wheelchairs, and others based on application. The standard wheelchair segment captured the largest market share during the forecast period due to their increasing usage amongst the disabled population. Moreover, the availability of cost-effective products is likely to propel the demand for these wheelchairs during the forecast period.

North America Leads Wheelchair Market:
Because of the high target population and rising use of sophisticated wheelchairs, North America dominated the market and held the greatest market share in 2021. Furthermore, the presence of a large number of market participants in the region will aid market expansion throughout the projection period. During the forecast period, Asia Pacific is expected to have the highest CAGR because of advancements in healthcare facilities and expanding government attempts to provide superior mobility equipment, the area is backed by a big population base in nations like India and China. Furthermore, countries with a large aging population, such as Japan, benefit from market expansion.

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Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global wheelchair market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In October 2021, PRIDE MOBILITY® LAUNCHES GO CHAIR® MED POWER CHAIR. The Go Chair MED has a similar footprint to Pride's popular Go Chair®, however with additional enhancements, the Go Chair MED is HCPCS coded as K0821 Group 2 Portable through insurance while the Go Chair remains a retail product. In June 2020, GF Health Products, also known as Graham-Field, has acquired a substantial share of Gendron, one of the country's leading designers and manufacturers of mobile patient management.

Detailed Segmentation:
Based on the Type, the market is segmented into the following:
• Manual
• Powered

Based on the Application, the market is segmented into the following:
• Standard Wheelchair
• Bariatric Wheelchair
• Sports Wheelchair
• Others

Based on the End-user, the market is segmented into the following:
• Personal User
• Institutional User

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Key player's profiles in the wheelchair market report are Permobil, Sunrise Medical, Medical Depot, Inc. dba, Pride Mobility Products Corp, GF HEALTH PRODUCTS, INC., Invacare Corporation, Carex, Ottobock.

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