ID: MRFR/HC/6933-CR | October 2019 | Region: Global | 145 pages
Global Wheelchair Market is expected to register a CAGR of 2.80% to reach USD 9,554.07 Million by 2024. Wheelchairs are medical devices that are used by those who are unable to walk due to disability, illness, or injury, move from place to place. Electric wheelchairs and manual wheelchairs are the two major segments of the global wheelchair market. Many types of wheelchair accessories are available in the market, namely postural support accessories, wheelchair trays, armrest accessories, and wheelchair ramps that improve the safety and mobility of the users.
Increasing geriatric population and the increasing popularity of Paralympic games are expected to enhance market growth. However, the high cost of products may restrain the market growth during the forecast period.
The global wheelchair market has been largely driven by the increasing geriatric population and the increasing popularity of Paralympic games. For instance, in the case of arthritis, joint pain causes reduced leg and lower body movement leading to restriction in locomotion. According to the World Health Organization (WHO), it is estimated that the world population above 60 years will almost double from 12% to 22% by 2050. Moreover, according to the International Paralympic Committee (IPC), the PyeongChang 2018 Paralympics attracted the highest number of viewers, compared to any other winter Paralympic event outside the host country and broke international records of broadcast and online viewing.
Global Wheelchair Market Revenue, by Product Type, 2018 & 2024 (USD Million)
Sources: MRFR Analysis
The global wheelchair market is segmented into product type and end user. On the basis of product type, the market is segmented into electric wheelchair, manual wheelchair, and accessories. On the basis of the electric wheelchair segment is further sub-segmented into rear-wheel drive chair, center wheel drive chai, and front-wheel drive chair. Moreover, the manual wheelchair segment is sub-segmented into standard manual wheelchairs, light and ultra-lightweight wheelchairs, bariatric wheelchairs, and, sport wheelchairs. On the basis of accessories, the wheelchair market segmented into Wheelchair Ramps, Postural Support Accessories, Armrest Accessories, Wheelchair Trays, and Batteries & Chargers. On the basis of end user, the wheelchair market segmented into home care settings; and hospitals and clinics.
Asia-Pacific Wheelchair Market Share, 2018 (%)
Sources: MRFR Analysis
The global wheelchair market, based on region, is divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas accounted for the largest market share in 2018, and the regional market is projected to register a CAGR of 2.24% during the forecast period. This is owing to the presence of key market players, the growing incidence of chronic diseases, and increasing aging population in the US and Canada.
Europe's wheelchair market demonstrated substantial growth in the market due to the growing geriatric population and rising healthcare infrastructure.
Asia-Pacific is estimated to be the fastest-growing region in the global wheelchair market due to the presence of a huge patient population and increasing numbers of hospitals. China held a share of 27.7% in the Asia-Pacific wheelchair market in 2018.
Also, the wheelchair market in the Middle East and Africa region is expected to grow due to the rising awareness about the limited access to and availability of treatment facilities in the region.
The prominent players in the global wheelchair market are Drive Medical (US), Ottobock (Germany), Quantum Rehab (US), GF Health Products, Inc. (US), Karman Healthcare, Inc. (US), Pride Mobility Products Corp. (US), Levo AG (Switzerland), Sunrise Medical (Germany), Medline Industries, Inc. (US), and Invacare Corporation (US).
The players operating in the global wheelchair market are focusing on product launches, along with expanding their global footprints by entering untapped markets.
Global Wheelchair Market, by Product Type
Global Wheelchair Market, by End User
Global Wheelchair Market, by Region
Available Additional Customizations
Frequently Asked Questions (FAQ) :
The global Wheelchair market is projected to reach a valuation of USD 9,554.07 MN by 2024.
The global Wheelchair market is projected to grow at approximately 2.80% CAGR during forecast period (2018-2024).
Increasing popularity of Paralympic games.
North America holds the largest share in the global Wheelchair market followed by Europe and Asia Pacific, respectively.
Ottobock (Germany), Drive Medical (US), Quantum Rehab (US), Karman Healthcare, Inc. (US), GF Health Products, Inc. (US), Pride Mobility Products Corp. (US), Sunrise Medical (Germany), Invacare Corporation (US), and Levo AG (Switzerland), Medline Industries, Inc. (US), are some of the major players operating in the Wheelchair market.
This table of content is tentative and subject to change as the research progresses.
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