The global Wheelchairs Market is expected to be worth US$ 5.7 billion by the end of 2022, and to grow at a CAGR of 3.2% to be worth US$ 7.9 billion by the end of 2032. According to a recent study by Future Market Insights, manual wheelchairs will account for approximately 70.5% of the global market in 2021.
Bringing together the skills and resources of the public, private, and nonprofit sectors is critical for fostering innovation and removing barriers to accessibility and affordability for assistive technology (AT). Access to an appropriate wheelchair is critical for people to become more economically and civically engaged while also avoiding negative health effects.
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A wheelchair is considered appropriate if it: meets the user’s demands and environmental requirements; provides a proper fit with ergonomic adjustment; is safe and reliable; is widely available in the country; and can be obtained, maintained, and serviced in the country at a reasonable price. The use of a suitable wheelchair increases users’ mobility and flexibility, which is required for active participation in civic, professional, and educational activities.
Wheelchairs are one of the most common types of assistive devices. Individuals with congenital abnormalities, people with developmental and neurological problems (such as cerebral palsy or muscular dystrophy), people with a spinal cord injury, people with musculoskeletal conditions (lower limb amputation), people living with physical handicap caused by polio or noncommunicable diseases (NCDs) such as diabetes or stroke, and older people may all require wheelchairs.
The wheelchair market is expected to expand as demand for the best products in terms of effectiveness, features, quality, and price is created and consolidated. Furthermore, in order to reduce production costs and encourage the adoption of stringent quality standards, manufacturers and suppliers must work together to shape the global wheelchairs market for increased revenue sales.
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Key Takeaways from Market Study
- Manual wheelchairs are the most popular product segment, accounting for approximately 70.5% of the market in 2021, owing to their popularity among people with mobility issues who do not have chronic conditions.
- Because of its ease of use, the lightweight wheelchair segment is expected to lead in terms of function for wheelchairs, with a projected market share of around 30.0% by 2032.
- Because of the high adoption of treatment in institutional settings, institutional sales accounted for approximately 82.2% of the global wheelchairs market by distribution channel in 2021.
- North America is regarded as the leading region, with a global share of 35.4% in 2021, owing to the region’s large number of wheelchair distributors.
“Mobility issues associated with ageing are likely to affect older generations, which is predicted to raise demand for wheelchairs and fuel market expansion for wheelchairs over the forecast period,” says an analyst of Future Market Insights.
Market Competition
The wheelchair market is highly fragmented, and there are numerous competitors within the market sphere. Due to favourable government regulations, incentives to manufacture locally, and the perception that wheelchairs are a low-tech product, several local producers exist in low and middle-income countries.
- In January 2022, Invacare Corporation announced the release of a new, slimmer version of the Invacare® AVIVA® STORM RXTM rear wheel drive power wheelchair.
- Sunrise Medical has announced the release of two new electric wheelchairs for its adult QUICKIE and paediatric ZIPPIE lines in January 2022.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the wheelchairs market in its latest study, presenting a historical demand assessment of 2015 – 2021 and projections for 2022 – 2032. The global wheelchairs market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
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Key Market Segments Covered in Wheelchairs Industry Research
By Product:
- Manual Wheelchairs
- Powered Wheelchairs
By Function:
- Standard Transport WheelChair
- Self-Propelled Wheel Chair
- Sports Wheel Chairs
- Standing Wheel Chairs
- Recliners Wheel Chairs
- Bariatric Wheel Chairs
- Light-weight Wheel Chairs
By Distribution Channel:
- Institutional Sales
- Retail Sales
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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