Wheelchair Market
Number of pages: 100 | Report Format: PDF | Published date: April 28, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 6.30 billion |
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Revenue Forecast in 2031 |
US$ 11.48 billion |
|
CAGR |
6.9% |
|
Base Year for Estimation |
2020 |
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Forecast Period |
2021 to 2031 |
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Historical Year |
2021 |
|
Segments Covered |
Type, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global wheelchair market was valued at US$ 6.30 billion in 2022 and is expected to register a revenue CAGR of 6.9% to reach US$ 11.48 billion by 2031.
Wheelchair Market Fundamentals
A wheelchair is designed to provide mobility to people with difficulty walking or standing independently. It consists of a seat or platform mounted on two large rear wheels and two smaller front wheels. The user sits in the seat and uses their hands to control the movement of the wheelchair. Some wheelchairs are manually operated, while electric motors power others. Wheelchairs come in different sizes and designs to accommodate the needs of different individuals. They may also include features such as footrests, armrests, and specialized controls for people with different physical abilities. Using a wheelchair can greatly enhance the independence and quality of life of people with mobility impairments.
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Wheelchair Market Dynamics
There is a rise in the prevalence of disabilities, such as spinal cord injuries, cerebral palsy, multiple sclerosis, and others. This is due to factors such as lifestyle changes, environmental factors, and an increase in chronic illnesses. The growing number of disabled individuals drives the demand for wheelchairs and mobility aids. According to the WHO, an estimated 250,000 and 500,000 people globally suffer a spinal cord injury (SCI) every year. The growing geriatric population is also increasing the demand for wheelchairs. As people age, they become more susceptible to mobility impairments due to conditions such as arthritis, stroke, and other age-related illnesses. Advancements in technology have led to the development of innovative and advanced wheelchairs that provide better mobility, comfort, and functionality. These include electric and power wheelchairs, which have made mobility more accessible for people with disabilities. The rising healthcare expenditure worldwide has increased access to healthcare services, including mobility aids such as wheelchairs. Moreover, governments around the world are implementing initiatives to improve accessibility for individuals with disabilities. This includes providing financial assistance for wheelchair purchases and fueling the wheelchair market growth. There is a growing awareness and acceptance of individuals with disabilities in society, contributing to the demand for wheelchairs and other mobility aids. This wheelchair market trend is expected to continue in the coming years.
However, many insurance policies do not fully cover the cost of wheelchairs, leading to financial burdens for those who need them, thus restricting the wheelchair market growth. Wheelchairs require regular maintenance and repair, which can be costly and time-consuming. Moreover, a stigma is still attached to using a wheelchair, and people with disabilities often face discrimination. This can lead to a reluctance to use a wheelchair, which is also constraining the wheelchair market growth.
Wheelchair Market Ecosystem
The global wheelchair market is analyzed from four perspectives: type, application, end user, and region.
Wheelchair Market by Type
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Based on the type, the global wheelchair market is segmented into powered and manual.
The powered wheelchair segment dominated the wheelchair market with the largest revenue share in 2022. Powered or electric wheelchairs provide greater accessibility to individuals with mobility impairments. They allow for greater freedom of movement and independence, especially for those with severe disabilities. Powered wheelchairs provide greater comfort and convenience than manual wheelchairs, which require physical effort to move around. Electric wheelchairs are easier to maneuver and provide a smoother ride, making them more comfortable for users. The powered wheelchair segment has seen significant technological advancements in recent years, with features such as obstacle detection, programmable controls, and more. These features have made powered wheelchairs more user-friendly and easier to operate. Powered wheelchairs can be customized to meet the user's specific needs, providing greater comfort and usability. This customization can include features such as adjustable seats, headrests, and footrests, which can improve the user's comfort and overall experience. Governments worldwide are providing financial assistance and subsidies for purchasing powered wheelchairs. This has made powered wheelchairs more accessible and affordable for individuals.
The manual segment accounted for a considerable wheelchair market share in 2022. Manual wheelchairs are generally more affordable than powered wheelchairs. This makes them more accessible to individuals who may not have the financial means to purchase a powered wheelchair. Manual wheelchairs are lightweight and easy to transport, making them convenient for individuals who need to travel frequently. They can be easily folded and stored in a car trunk, making them a popular choice for individuals who require mobility aids for occasional use. Manual wheelchairs have fewer moving parts and require less maintenance than powered wheelchairs. This makes them a more cost-effective option in the long run. Manual wheelchairs do not require electricity or batteries to operate, which can be a significant advantage in areas with limited electricity access or emergencies. Manual wheelchairs provide greater control for the user, as they rely on their physical strength to move around. This can provide a greater sense of independence and control for the user.
Wheelchair Market by Application
Based on the application, the global wheelchair market is segmented into bariatric wheelchair, standard wheelchair, sports wheelchair, and others.
The standard wheelchair segment accounted for the largest revenue share of the wheelchair market. Standard wheelchairs are the most widely available type of wheelchair, making them the most popular choice among individuals with mobility impairments. Standard wheelchairs are generally more affordable than powered or specialized wheelchairs, making them more accessible to individuals who may not have the financial means to purchase a more expensive model. Standard wheelchairs are generally more affordable than powered or specialized wheelchairs, making them more accessible to individuals who may not have the financial means to purchase a more expensive model. Standard wheelchairs require minimal maintenance compared to powered or specialized wheelchairs, which can be a significant advantage for individuals who may not have the means or resources to perform regular maintenance. Standard wheelchairs are user-friendly and do not require special training or expertise to operate. This makes them a popular choice among individuals who may be new to using a wheelchair or have limited mobility. Standard wheelchairs are often built to withstand daily wear and tear, making them a more durable option than other wheelchairs.
The bariatric wheelchair segment is expected to register a lucrative growth rate during the forecast period. As obesity continues to rise worldwide, the demand for bariatric wheelchairs is also increasing. Bariatric wheelchairs are designed to accommodate individuals who weigh more than the standard weight limit of a regular wheelchair, making them a necessity for many individuals with obesity. Bariatric wheelchairs provide greater comfort to individuals who are overweight or obese. These wheelchairs are wider and provide more space for the user, reducing the risk of pressure sores or other related health issues. There is greater awareness of the importance of accommodating individuals who are overweight or obese, and many healthcare facilities are now investing in bariatric wheelchairs to meet the needs of these patients. The bariatric wheelchair segment has seen significant technological advancements in recent years, with features such as heavy-duty frames and larger wheels to accommodate heavier weight limits. These features have made bariatric wheelchairs more user-friendly and easier to operate. Bariatric wheelchairs can be customized to meet the specific needs of the user, providing greater comfort and usability. This customization can include features such as adjustable seats, headrests, and footrests, which can improve the user's comfort and overall experience.
Wheelchair Market by End User
Based on the end user, the global wheelchair market is segmented into institutional and personal use.
The personal use segment accounted for a significant revenue share of the wheelchair market. The world's population is aging, and they are more likely to experience mobility impairments as they age. Personal use wheelchairs are often used by older individuals who require assistance with their mobility. Personal use of wheelchairs provides greater independence to individuals with mobility impairments, allowing them to move around freely and participate in daily activities without assistance. Personal use wheelchairs can be customized to meet the specific needs of the user, providing greater comfort and usability. This customization can include features such as adjustable seats, headrests, and footrests, which can improve the user's comfort and overall experience. Personal use wheelchairs have seen significant technological advancements in recent years, with features such as lightweight materials, foldable designs, and improved maneuverability. These features have made personal use wheelchairs more user-friendly and easier to operate. Personal-use wheelchairs are becoming more popular among individuals looking to maintain an active lifestyle despite mobility impairments. Many personal use wheelchairs are designed for outdoor use, making them suitable for individuals who enjoy outdoor activities.
Wheelchair Market by Region
Geographically, the global wheelchair market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America region has the largest wheelchair market size in revenue generation. North America's large and rapidly aging population drives demand for mobility aids such as wheelchairs. As people age, they are more likely to experience mobility impairments, making wheelchairs essential for maintaining independence and quality of life. Significant technological improvements, such as the creation of lightweight materials, enhanced battery technology, and sophisticated control systems, have recently been observed in the North American wheelchair sector. Wheelchairs are now more convenient, transportable, and comfortable thanks to technological improvements. There is growing awareness of the importance of accessibility in North America, with many public and private institutions investing in wheelchair accessibility features. This has created a greater demand for wheelchairs. Several government initiatives in North America aim to improve access to healthcare and mobility aids for people with disabilities. These initiatives have created a greater demand for wheelchairs and other mobility aids. Many insurance plans in North America cover the cost of wheelchairs and other mobility aids, making them more accessible to the general population.
Wheelchair Competitive Landscape
The prominent players operating in the global wheelchair market are:
Wheelchair Market Strategic Developments
A wheelchair is designed to provide mobility to people with difficulty walking or standing independently. It consists of a seat or platform mounted on two large rear wheels and two smaller front wheels. The user sits in the seat and uses their hands to control the movement of the wheelchair.
The prominent players operating in the global wheelchair market are Carex Health Brands, Inc., Ottobock SE & Co. KGaA, Invacare Corporation, Medical Depot, Inc., and GF Health Products, Inc.
During the forecast period, the revenue CAGR of the global wheelchair market is estimated to be 6.9%.
The estimated size of the global wheelchair market in 2031 is US$ 11.48 billion.
Asia Pacific can be considered as the key growth region due to the surge in wheelchair industry trends in China, Japan, and the Indian subcontinent.
*Insights on financial performance are subject to the availability of information in the public domain