USD 9.66 billion
Report ID:
SQMIG35B2157 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
90
|Figures:
76
Wheelchair Market size was valued at USD 5.04 Billion in 2023 and is poised to grow from USD 5.4 Billion in 2024 to USD 9.42 Billion by 2032, growing at a CAGR of 7.20% during the forecast period (2025-2032).
A wheelchair is a specific medical apparatus which assists a person who is incapacitated or has very limited ability to walk. Wheelchairs allow people to enhance their independence and mobility by being pushed manually or driven automatically. The prevalence of physical disability in adults and children on a global scale is increasing rapidly. The World Health Organization (WHO) estimates that 15% of people worldwide are disabled in some way as of 2018. Wheelchair demand is also anticipated to increase throughout the projection period due to the world's ageing population. During the projected period, wheelchair technology is expected to continue to progress and become more widely known, which will drive market growth.
Alongside this, a growing number of player product launches and advantageous reimbursement practices are anticipated to fuel market expansion throughout the course of the forecast year. The rising ageing population is one of the main factors propelling the global market. As people get older, they are more likely to experience mobility issues. This is expected to drive up demand for wheelchairs and accelerate the wheelchair market's growth over the course of the forecast period. In the world today, 250 million people experience moderate to severe mobility, according to a UN report.
US Wheelchair Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 9.66 billion
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
15.3% CAGR
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Global Wheelchair Market is segmented by Product, Category, Application, end user and region. Based on Product, the market is segmented into Manual, and Electric. Based on Category, the market is segmented into Adults, Pediatric. Based on Application, the market is segmented into Homecare, Hospitals, Ambulatory Surgical Centers, and Rehabilitation Centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Wheelchair Market Analysis by Product
As per categorization by product, the market is classified as manual wheelchair, and power wheelchair. Among these, the power wheelchair earned the largest share and continues to dominate the market. Research and development in the global wheelchair market is highly focused on power wheelchairs due to factors such as battery technology, ease of control and ability to move. It is observed that power wheelchairs are preferred more than manual wheelchairs as they provide more autonomy, comfort and are easy to operate for people with disabilities. The ability to operate in a comfortable way on almost any surface and smart technological advancement are the reasons explaining their popularity in the market. This is for the users who are looking for ease along with an enhanced standard of living.
The manual wheelchair segment is poised to become the fastest-growing category in the global wheelchair market due to several key factors. First, rising healthcare awareness and the emphasis on rehabilitation solutions are driving demand for cost-effective mobility aids. Since they are cheap, less cumbersome and easy to maintain, manpower wheelchairs can be afforded by many people in the market even those from third world countries. In addition, the growing tendency for lightweight and tailor-made designs makes it easy for them to be embraced while newer materials and ergonomic designs enhance comfort and useability. Due to the growing old age population and the demand for mobility equipment by temporarily disabled persons, manual wheelchairs will grow considerably in the product’s market.
Wheelchair Market Analysis by Category
The adult category in the global wheelchair market is experiencing robust innovation, characterized by advancements in ergonomic design, smart technology integration, and lightweight materials. The development of wheelchairs is such that they accrue more comfort and mobility to the user with additional features like adjustable seating, enhanced suspension features, and health connectivity options. This product line is the most lucrative in the market due to the rising number of cases of such impairments, especially among adult populations, which is because of old age, chronic diseases and active lifestyle. Moreover, the rising realization of the need for good quality of life and self-sufficiency among disabled adults increases the need for functional and trendy adult wheelchairs as well.
The pediatric wheelchair category is projected to be the fastest-growing segment in the global wheelchair market due to a surge in awareness surrounding the needs of children with mobility challenges. The rising number of cases of pediatric disabilities and the quest for more inclusive healthcare and rehabilitation services is resulting in greater need for specialized mobility solutions. Unlike in the recent past, several features in the new generation of pediatric wheelchairs including custom designs, the use of lightweight materials and bright colors, improve the wheelchairs and their appeal to younger users. In addition, due to the efforts of parents and caregivers to allow for greater independence and mobility, it is forecast that the pediatric wheelchair market will grow considerably reflecting the desire to improve the quality of life of these children.
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North America occupies the largest wheelchair market share in the world due to its advanced healthcare systems, high spending power of the population and attention geared towards people living with disabilities. The region is able to conduct a lot of research and development, which results in the emergence of technologies such as the smart and lightweight wheelchairs that are used today. Moreover, wheelchair accessibility is improved by government policies and reimbursement programs which are appealing to the consumers, driving the demand. Factors such as the demographic shift due to the geriatric population and the increase in the number of chronically sick patients are other factors that are driving growth in the market as mobility enhancing healthcare services are being availed to more and more patients across the North American region.
The global wheelchair market is experiencing the highest growth in Europe due to the well-established healthcare focus and mobility solution development. There is a rising concern in the society regarding the rights of disabled people and the importance of creating a barrier-free society, which is leading to government expenditure on assistive devices. Moreover, the advanced years demographic is especially acute in high life expectancy economies resulting in the increased need for mobility aids. Recent developments in the wheelchair industry have produced a wide use of light and easily customizable wheelchairs. There is also the use of smart technology, which adds functionality to the wheelchair, therefore, making Europe the fastest growing wheelchair market in the world as a result of the pulling forces of consumers and policies.
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Wheelchair Market Drivers
Rising Incidence of Disabilities
Technological Advancements
Restraints
Region Wise Regulatory Challenges
Competition from Alternative Solutions
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A multitude of prominent figures can be seen in the business arena of the global wheelchair market, all of which are looking for ways to create new and improve existing mobility solutions. Among the well-known corporations on a global scale are Invacare Corporation, Sunrise Medical, and Permobil, who focus on implementing up to date technologies and designs that can be modified. Such enterprises also utilize research and strategic alliances to gain an advantage over competitors. Furthermore, the rise of new players into the market is creating even more competition, which in turn leads to enhanced quality of products and diversified alternatives for mobility products for consumers.
Wheelchair Market Top Player’s Company Profiles
Wheelchair Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, in conclusion, the global wheelchair market is poised for significant growth, driven by the rising incidence of disabilities, advancements in technology, and an aging population. Power wheelchairs dominate due to their innovative features and enhanced independence, while manual wheelchairs gain traction from affordability and portability.
Both the adult and pediatric segments are showing expansion due to the rising level of awareness of mobility necessities. Regions like North America and Europe are seen to record very high growth as a result of positive healthcare strategies and developments. With changing market conditions, major strategic players are focused on providing customized solutions that aim at better mobility and improving the living standards of physically challenged persons.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 4.70 billion |
Market size value in 2031 | USD 8.79 billion |
Growth Rate | 7.20% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Wheelchair Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Wheelchair Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Wheelchair Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Wheelchair Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35B2157
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