The global Wheelchair market size is expected to be worth around US$ 5.9 billion by 2028, according to a new report by Vision Research Reports.
The global Wheelchair market size was valued at US$ 2.9 billion in 2020 and is anticipated to grow at a CAGR of 8.02% during forecast period 2021 to 2028.
The Americans with Disabilities Act (ADA) defines a wheelchair as a manually operated or automated device, designed primarily for use by an individual with a mobility disability. It is mainly used for the purpose of indoor or both indoor and outdoor locomotion. Increase in life span and numbers of elderly persons at a global level is one of the key reasons expected to contribute towards the growth of the market.
The growing integration of automation in healthcare devices, especially mobility devices, such as wheelchairs is a key impacting parameter, projected to support market growth. Wheelchairs today are incorporated with non-linear processing circuits, guide sensors, pulse steering drive, and several controls for making the ride easy and smooth for patients.
The manual segment dominated the market and accounted for the largest revenue share of 60.9% in 2020. There is a high demand for manual wheelchairs around the globe due to affordability, lightweight, and non-dependability on charging. Also, they come in a variety of configurations and weight, from standard to ultra-lightweight, require little space as a lot of the models with foldable options.
Electric wheelchairs provide increased independence to the user owing to its ease of usage and ability to travel for longer distances without fatigue. 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, a Swiss-based company amidst the pandemic launched Scewo Bro, an electric wheelchair that can climb up and down the stairs independently and smoothly. The device is, for now, available in Switzerland, Austria, and Germany. Wheelchairs may witness some competition by other mobility aids such as walkers and cranes etc., however with growing age, all individuals eventually shift to wheelchairs as the most suited option.
The adults segment dominated the market and accounted for the largest revenue share of 69.4% in 2020. 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 childhood motor disability in the U.S. Thus, pediatric segment is expected to be a key revenue generator for wheelchair manufacturers in the years to come.
The rehabilitation centers segment dominated the market and accounted for the largest revenue share of 34.4% in 2020. The segment is projected to continue its dominance over the forecast period. The hospital segment is also projected to grow rapidly owing to the increasing medical emergencies that require wheelchairs.
The post-surgical procedures enhance the demand for wheelchairs. In hospitals, they are mainly used for transporting patients, which comprises everything from a trip to the hospital to a journey from a patient room for an MRI and to a visit to a doctor’s office in a large medical facility.
Based on geography, North America dominated the wheelchair market in 2020 and accounted for the largest revenue share of 35.2%. This growth is owing to the growing elderly population, increasing adoption of advanced wheelchairs, and growing disabled population. Apart from this, the presence of a large number of market players is also expected to boost the wheelchairs market in the region. Furthermore, according to our analysis, a lot of small enterprises are coming up with specialized wheelchair expected to cater to niche audiences. For instance, in January 2020, 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 grow fast during the forecast period. The region is backed by large population base countries such as India and China. These countries are witnessing improvements in healthcare facilities and growing government initiatives for offering quality mobility devices.
Carex Health Brands, Inc.
Drive Medical Design & Manufacturing
Graham-Field Health Products Inc.
Sunrise Medical LLC
Pride Mobility Products Corp.
Ambulatory Surgical Centers
Middle East & Africa
The Wheelchair market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Wheelchair market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Wheelchair market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Wheelchair market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Wheelchair market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Wheelchair capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Wheelchair by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Wheelchair market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Wheelchair market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Wheelchair market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Wheelchair industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Wheelchair market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Wheelchair market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Wheelchair market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Wheelchair market. These factors have benefited the growth of the global market for Wheelchair. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Wheelchair. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Wheelchair are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
Arrhythmia Monitoring Devices Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030Read more...
Vaginitis Therapeutics Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030Read more...
Botanicals Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030Read more...
Stereotactic Surgery Devices Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Biopharmaceuticals Manufacturing Consumables Testing Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...