The Global Wheelchairs Market, by Product Type (Manual Wheelchair, (Active Wheelchairs, Transport Wheelchair, and Others), Electronic Wheelchairs (Centre Wheel Drive Electric Wheelchair, Front Wheel Drive, Standing Electric Wheelchair, and Rear Wheel Drive Electric Wheelchair), By Weight (Light Weight Wheelchair and Heavy Weight Wheelchair), By Modality (Pediatric Powered Wheelchairs and Adult Powered Wheelchairs), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, Homecare Settings, and Others) was valued at US$ 4,390.4 million in 2016 and is projected to expand at a CAGR of 15.0% during the forecast period (2017 - 2025), as highlighted in a new report published by Coherent Market Insights. Increasing demand for wheelchair due to rising number of disability cases overall the globe and enhancing technologies especially in electric wheelchairs, in turn is projected to support growth of wheelchairs market over the forecast period.
Manufacturers are focused on innovation to tap into the emerging market. For instance, Invacare Corporation supported the 37th Annual National Veterans Wheelchair Games in 2017 and also display the company's product named Kuschall, which is a custom manual wheelchair. Furthermore, in 2017, as a part of two day event, athletes with physical impairments participated in Olympic day at Turnstone, where Paralympic sports such as wheelchair basketball, table tennis, quad rugby were introduced to the individuals, which is expected to drive growth of the wheelchairs market especially active wheelchairs segment.
Furthermore, manufacturers are focused on mergers and acquisition for market penetration and to gain competitive advantage. For instance, in August 2016, Permobil AB, a Sweden-based company, announced acquisition of Advanced Health Care Company to expand its geographic reach in Canada.
Browse 47 Market Data Tables and 29 Figures spread through 230 Pages and in-depth TOC on "" Wheelchairs Market, By Product Type By Product Type (Manual Wheelchair, (Active Wheelchairs, Transport Wheelchair, Others), Electronic Wheelchairs (Centre Wheel Drive Electric Wheelchair, Front Wheel Drive, Standing Electric Wheelchair, Rear Wheel Drive Electric Wheelchair), By Weight (Light Weight Wheelchair, Heavy Weight Wheelchair), By Modality (Pediatric Powered Wheelchairs, Adult Powered Wheelchairs), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, Homecare Settings, and Others) By Region (North America, Europe, Latin America, Middle East, Asia Pacific, Africa) - Global Forecast to 2025""
Increasing number of aging population is expected to favor growth of the wheelchairs market in the near future especially in emerging economies such as China and India, owing to rapid increase in the population. Increasing awareness and expenditure on healthcare is also expected to fuel growth of the wheelchairs market. Whereas, emerging manufacturers are focused on innovation of wheelchairs to strengthen their product offering in the wheelchairs market. Whereas, innovation carried out by manufacture to make the wheelchairs attractive and sophisticated with advance technique along with increased level of ease and comfort is expected to favor the growth of wheelchair market in near future. Sports wheelchairs are also expected to favor the growth of the wheelchairs market. For instance, Eagle Sportchairs, LLC. provides only sport wheelchair to improve the lifestyle of the disabled people, which includes wheelchair for basketball, quad rugby, tennis, racing, multi-court and field events. In year 2017, as a part of two day event, athletes with physical impairments participated in Olympic day at Turnstone where Paralympic sports such as wheelchair basketball, table tennis, quad rugby were introduced to the individuals, which is propelling demand for active wheelchair, in turn favoring growth of the wheelchairs market.
Furthermore, in May 2018, The National Paralympics Committee (NPC) of Rwanda launched a new sports wheelchair basketball for disabled. Moreover, the google maps in March 2018, introduced Wheelchair accessible routes for convenience of people with mobility needs, which also supports the increasing adoption of the wheelchair.
Key takeaways of the market:
• The global wheelchairs market is expected to expand at a CAGR of 15.0% during the forecast period (2017 - 2025), owing to increasing number of aging population overall the globe, which is expected to favor growth of the wheelchairs market over the forecast period.
• The Asia Pacific region in the global wheelchairs market is expected to witness significant growth during the forecast period due to increasing patient population and advanced healthcare infrastructure.
• Among product type segment, electronic wheelchair type is expected to expand at a significant CAGR of 16.6%, in which front wheel drive electric wheelchair is expected to increase during the forecast period, owing to increasing preference of electronic operative features
• The global wheelchairs market is characterized by market expansion in Asia Pacific, North America, and Europe, which is expected to generate higher market revenue due to increasing prevalence of disabilities.
• Major players operating in the global wheelchairs market include Invacare Corporation, Sunrise Medical LLC, Ottobock Healthcare, 21st Century Scientific, Inc., Permobil AB, Pride Mobility Products Corporation, LEVO AG, GF Health Products, Inc., MEYRA GmbH, Hoveround Corporation, Aquila Corporation, Aspen Seating, Drive Medical, Eagle Sportschairs LLC., EASE Seating System, and Medical Depot Incorporation.
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