Wheelchair market 2022 Expeditious Growth, Opportunities, Trends, Analysis and forecast to 2027

The industry for wheelchairs was estimated at 3,720.47 million USD in 2019 and is anticipated to grow at a CAGR of 8.1% from 2022-2027.

For transportation, people who are unable to walk owing to diseases, sicknesses, or impairments use wheelchairs with wheels. Most people who use wheelchairs are elderly and those with special needs. Aged and disabled persons use motorized wheelchairs because they have trouble properly using a manual wheelchair. In comparison to an electric wheelchair, hand wheelchairs are lighter and need less upkeep.

The growing aging population is the primary driver of the worldwide wheelchair industry, and the growing use of wheelchairs in activities like sports is predicted to fuel industry expansion. The World Health Organization (WHO) predicts that by 2050, the percentage of people over 60 worldwide would nearly double, from 12%- 22%. The number of elderly people will rise which will eventually raise the demand for wheelchairs. However, the price difference between manual and electrical wheelchairs is significant, which is expected to restrain industry expansion.

Throughout the project timeframe, COVID-19's higher incidence is anticipated to have an impact on industry development. The bulk of hospital equipment businesses suffered large losses because of the ongoing coronavirus epidemic, which hurt the wheelchair industry. The epidemic has also had an impact on the availability and manufacturing of wheelchairs. As a result, it is anticipated that over the projection timeframe, the rate of increase of the worldwide wheelchair industry would somewhat decline. Additionally, additional procedures, primarily those involving the legs, can be delayed because of the greater emphasis given to COVID-19 therapy. As a result, it is anticipated that during the epidemic, the need for wheelchairs that are needed for these individuals following surgery will lessen somewhat.

As people get older, their organ systems lose or become less effective, making them dependent on others to carry out daily tasks. For example, in the condition of arthritis, joint discomfort reduces the range of motion in the leg muscles, which restricts mobility.

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Key Players

Invacare Corporation (US)

Ottobock (Germany)

Drive Medical (US)

Pride Mobility Products Corp. (US)

Quantum Rehab (US)

GF Health Products, Inc. (US)

Karman Healthcare, Inc. (US)

Levo AG (Switzerland)

Sunrise Medical (Germany)

Medline Industries, Inc. (US).

Segmental Analysis

The market for wheelchairs is divided into three major groups that are by product, category, and by End-user.

Based on the product this is divided into Electrical wheelchairs, Manual wheelchairs, and Accessories. Based on the Category is divided into adults and pediatrics. In last based on the end-user, this is divided into Home Care settings, Hospitals, and Clinics.

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Regional Analysis

The global wheelchair market is studied across five major regions, including the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The wheelchair market for the American region will likely dominate globally over the forecasted era. The high popularity of Paralympics, the presence of major market players, and well-developed healthcare sector are some of the crucial aspects catalysing he regional market's growth.

The European regional market for the wheelchair is anticipated to record significant surge in the growth rate over the review timeframe. The regional wheelchair market's growth is being driven by the high healthcare spending, the presence of a huge geriatric population, and the increasing support from the government.

The wheelchair market for Asia-Pacific region is predicted to exhibit the fastest growth over the assessment timeframe. The huge patient population, rapid development in technology, and the increasing obese population are some of the crucial parameters driving the growth of the wheelchair market for the Asia-Pacific region.

The wheelchair market for the Middle East & African region is projected to exhibit a steady growth during the assessment timeframe attributed to consistently growing demand for products and growing healthcare infrastructure.

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