The global wheelchair market is expected to reach USD 3.89 Billion by 2027, according to a new report by Reports and Data. The wheelchair is an assisted walking device to improve the quality of life by supporting personal mobility-related issues in people who have troubles in walking, such as individuals with spinal cord injuries leading to muscular dystrophy, among others. Wheelchairs offer freedom to the disabled person and caretaker, enabling them to carry out daily tasks with convenience. Besides, providing mental health and social benefits, a wheelchair improves the physical health by aiding in the reduction of general problems comprising deformities progression, pressure sores, and better metabolism and respiration.
As per the Global Health and Aging report published by the WHO (World Health Organization), the number of people aged 65 years or older is estimated to increase from a projected 524 million in 2010 to approximately 1.5 billion by 2050, with significant percentage of increase in developing economies. Additionally, the number of people aged 65 years or older is anticipated to considerably surpass children younger than 5 years of age by 2050. Aging leads to the deterioration of facet joints resulting in several spinal disorders. Thus, the increasing prevalence of diseases in the growing geriatric population is likely to propel the growth of the market in the forecast period. Furthermore, the increasing use of medical insurance by the geriatric population and the middle-age population has ensured that they receive medical help at a reduced cost. Thus, insurance companies assist in covering mobility devices by reimbursing and making them much more affordable for consumers. The support from various government, private, and international insurance organizations are expected to boost the market demand globally.
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Key participants include Drive Medical Design & Manufacturing, Carex Health Brands Inc., Medline, Invacare, Karman Healthcare, Pride Mobility Products Corporation, Quantum Rehab, Sunrise Medical LLC, Graham-Field Health Products Inc., and Numotion, among others.
For the purpose of this report, Reports and Data have segmented the global wheelchair market on the basis of type, application, end-user, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
End-User Outlook (Revenue, USD Million; 2017-2027)
- Ambulatory Surgical Centers
- Rehabilitation Centers
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Saudi Arabia
- Rest of Middle East and Africa
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Further key findings from the report suggest
- By type, manual wheelchairs contributed to a larger market share in 2019. These types of wheelchairs are cost-effective and require slight maintenance and little room. Manual wheelchairs can be easily controlled and configured to fulfill the users’ requirements. Further, these can be conveniently transported and offer foldable alternatives for easy carrying and storage.
- By application, the pediatric application is estimated to grow at a faster rate of 6.1% in the forecast period, attributed to increasing occurrences head injuries and amputees, among others, as well as conditions like spina bifida.
- By end-user, homecare held the largest market share in 2019, owing to the growing geriatric population demand for the assistance in mobility in their homes or for personal use
- The market in the Asia Pacific is expected to grow at the fastest rate of 7.5% in the forecast period, attributed to the presence of a large population base in countries like China and India, and a rise in the level of disposable income of the people in the region. Further, Japan, with a high ratio of the aging population, is also a significant contributor to the market growth.
- In March 2020, Invacare Corporation made an announcement about the introduction of the Invacare® AVIVA™ FX Power Wheelchair, an innovative and state-of-the-art front-wheel-drive power device.
Key insights presented in the report:
- Market revenue shares by major business players, by type, application, and market scope of global Wheelchair market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures
- Regional analysis to provide insight into recent trends and opportunities.
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