Wheelchair Market Size, Share, Trends, Growth, and Industry Analysis, By Product (Manual, Electric) By Category (Adults, Paediatric), By Application (Homecare, Hospitals, Ambulatory Surgical Centers, Rehabilitation Centers), Regional Insights and Forecast to 2032
global wheelchair market size was USD 7.15 billion in 2022 and is predicted to reach USD 14.55 billion in 2031, exhibiting at a CAGR of 10.6% during the forecast period.
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.
REPORT SCOPE & SEGMENTATION:
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Report Attribute |
Details |
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Projected Market Value (2031) |
14.55 Billion |
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Estimated Market Value (2022) |
7.15 Billion |
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Base Year |
2022 |
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Forecast Years |
2023 - 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Category, Weight, Application, Region |
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Segments Covered |
By Product, By Category, By Application, By weight, By End user and Region |
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Forecast Units |
Value (USD Billion), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
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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.
Wheelchair Market Share, By Region, 2021 (%)
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Regions |
Revenue Share in 2021 (%) |
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North America |
35.2% |
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Asia Pacific |
21.3% |
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Europe |
28.7% |
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Latin America |
10% |
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MEA |
5% |
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:
Segments Covered in the Report
Regional Outlook (Revenue, USD Million, 2018 - 2031)
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
