Wheelchair Market

A wheelchair is used for mobility purposes by disabled persons or by persons who are unable to walk post-injury or due to certain illnesses such as cerebral palsy. Wheelchairs are available in two types, which are manual wheelchair and electric wheelchair. They can be used for outdoor as well as indoor purposes. New developments and innovations, such as sports wheelchair, stair climbing wheelchair, and smart wheelchair are expected to drive growth of global wheelchairs market in the near future.

Market Growth

Growing advancements in wheelchair technology, along with rising awareness about these advanced products, are likely to propel market growth during the forecast period. In addition, an increase in the number of product launches by players, as well as favorable reimbursement policies, are expected to support market growth during the forecast period. So, increase in diseases and disorders, such as tetraplegia, impairment, spinal cord injuries, and others, that causes inability to walk, majorly drives the wheelchair market growth. In addition, rise in geriatric patients that are susceptible to walking disabilities, increase in obesity and cardiovascular diseases, and improvement in hospital facility for in-hospital patient treatment drive the wheelchair market.

Due to the severe shutdown put in places, wheelchairs services are stopped in various countries. Owing because of an increasing number of older patients being treated as a result of such COVID-19 illness, clinics also saw great desire. Businesses are expected to resume operations with both the updated COVID-19 limitations. The burden of severe disease, growing senior community, and increased risk of cultural ailments among a large population has resulted in obesity rates, and unhealthy lifestyles are all contributing to the predicted increase in consumption of wheelchairs. So, over a projected timeframe, the wheelchair regarding product sector is anticipated to expand by 6.5 percent. And over the projection period, emerging economies like India are anticipated to be major sources of income for wheelchairs producers.

COVID-19 IMPACT

The disease has spread to over 100 countries since the COVID-19 virus outbreak in December 2019, and the World Health Organization declared it a public health emergency on January 30, 2020. Wheelchair operations were halted across several countries owing to the strict lockdowns being implemented. Hospitals have witnessed consistent demand owing to a spike in the number of elderly populations getting admitted due to the COVID-19 virus infection with the revised COVID-19 restrictions, companies are expected to resume operations. The demand for wheelchairs market is expected to increase on account of the prevalence of chronic disease, rising geriatric population, and increased risk of lifestyle-associated disorders among a wide population due to the rising incidences of obesity and sedentary lifestyle.

Market Drivers

One of the major drivers for the global wheelchair market is the rapidly growing elderly population. The older generations are likely to suffer from mobility disorders with their growing age, which is anticipated to increase the demand for wheelchairs, further propelling market growth during the forecast period. According to a report published by the United Nations, currently, around 251 million populations worldwide are experiencing moderate to severe mobility.

Rapidly growing technological innovations in wheelchairs Market and the introduction of many products such as powered, electric wheelchair by several companies is likely to expand the sales of wheelchairs during the forthcoming years. Furthermore, the government',s increasing initiatives to improve the accessibility of advanced wheelchairs in low-resource countries are expected to drive market growth during the forecast period.

Market Restraints

The major factor that hinders the growth of the global wheelchair market is the high cost of wheelchairs. For instance, according to data provided by the Mobility Deck, a free resource for all the mobility needs, in December 2020, the cost of an electric wheelchair can range anywhere from around US$ 1,000 to US$ 16,000. This depends on the brand, quality, size, features, and requirements however, the average electric wheelchair for the regular user can be expected to be priced at around US$ 2100 to US$ 3100.

Regional Analysis

North America dominated the global market in 2021 and accounted for the largest revenue share of 35.2%. This growth is owing to the high target population and increased adoption of advanced wheelchairs market. Moreover, the presence of a large number of market players in the region will further boost the wheelchair market growth during the forecast period. According to our analysis, a lot of small enterprises are coming up with specialized wheelchairs market to cater to niche audiences. In 2021, the United States had the greatest profit share, thus controlling the world market. This growth is due to the relatively large population and the increasing use of cutting-edge wheelchairs. In 2020, the United States will rule the global wheelchairs market industry. The reason for this boost is indeed the sizable primary audience and also the expanding use of reduced wheelchairs.

In the Asia Pacific region, the market is projected to register the fastest CAGR during the forecast period. Because of improvements in healthcare facilities and growing government initiatives to provide quality mobility devices, the region is supported by a large population base in countries such as India and China.

Key Players

Major players operating in the global wheelchairs market include:

• 21st Century Scientific, Inc.

• Alber (Frank Mobility)

• Aquila Corporation

• Aspen Seating

• Carex Health Brands, Inc.

• Custom Engineered Wheels

• DEKA Research &, Development Corp (U.S.)

• Drive Medical Design &, Manufacturing

• Eagle Sportschairs LLC.

• EASE Seating System

• Forza Medi

• Graham-Field Health Products Inc.

• Hoveround Corporation

• Intelliwheels

• Invacare Corporation

• Karma Healthcare Limited

• Levo AG (Switzerland)

• MATIA ROBOTICS (U.S.)

• Medical Depot Incorporation.

• Medline

• MEYRA GROUP GMBH (Germany)

• NeoBolt

• Numotion

• Ostrich Mobility Instruments Pvt. Ltd

• OttoBock Healthcare India Pvt. Ltd

• Permobil AB

• PITSCO EDUCATION LLC (U.S.)

• Pride Mobility Products Corporation

• Quantum Rehab (U.S.)