Wheelchair Market: Global Wheelchair Market Analysis and Forecast (2023-2029)

The global Wheelchair size was valued at $4.586 Billion in 2022 and the market is expected to reach $7.394 Billion by 2029 at a CAGR of 7.09 % during the forecast period
Global Wheelchair Market Overview.
Wheelchair is a mobility device tool that is used by the elderly and pediatric category people for the mobility purpose and to move around. This chairs are made up of steel, frames, wheels, and seat, designed in a unique way making it simpler for use by customers. Wheelchairs comes in many types which is explained in details in the report. The phenomenal rise in demand and increasing of technological development has been a driving factor for the growth of wheelchair market. Wheelchairs are in demand due to rise in the geriatric population and increased in accident and surgery. The wheelchair market has witnessed the development of new treatment methods is a major driving factor for growth. The North American region is the world's leading region for introducing wheelchairs and uses. The leading companies in the market strive to improve their efficiency and effectiveness of treatment. Technological development by the key companies is analyzed in detail and given in report. This report also includes the Government regulations that are being bifurcated by the regions and by countries. The detailed analysis on the basis of segments and regional considering the regulations are being provided in the report. The report gives a detailed analysis using SWOT and PESTLE analysis with the segmentation and regional analysis.

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Wheelchair Market Dynamics
Technological development for making more advanced wheelchairs

The wheelchair market is a very exclusive market that has witnessed a drastic rise in recent years. The rising aging population all over the world is a major driving factor for the growth of the wheelchair market. The number of old age people all over the world above age 65 is expected to reach approximately 900 million and this geriatric population is expected to witness an impairment in mobility. The lack of mobility of the geriatric population demands more requirements for wheelchair use. With the increase in the number of old age people, the increase in chronic diseases has risen, diseases like obesity, diabetes, and cardiovascular heart disease need and demand wheelchairs for carrying patients from one place to another place. The technological advancement in wheelchair technology has made significant growth in recent years by making these chairs more affordable, more functional, and more efficient. The development of smart wheelchairs with the help of sensors, allows them to interact with their surroundings and provides essential features like voice control and hurdle recognition. These technological advancement has also made wheelchairs more lightweight and customizable so that customers can modify and customize their wheelchairs according to their needs and also provides a variety of features including custom airbags in wheelchairs. Thus, these advancement has led to the growth in the wheelchair market and continues to grow significantly during the forecast period.

High cost of wheelchairs

Despite the positive growth outcomes, the wheelchair market faces some restraints that hinder the growth of the market. The major restraining factor is the high cost of wheelchairs, as the more advanced wheelchairs cost more due to the inclusion of more advanced features. The powered wheelchairs are the ones that charge and cost more money, which makes them unaffordable. Regardless of the growth and availability of wheelchairs around the world some of underdeveloped countries like Kenya and other does not accessibility to the facilities and where people with disabilities face problem in moving around the places. The government regulations can be sometimes more strict regarding the launching of product in their country which can lead to inconvenience and frustration for the manufacturers and for users. These restraints make it more difficult for disabled people to get the benefits and use wheelchairs effectively, which can improve the quality of life they live.

Raising awareness for the use of the wheelchair

With the increase in demand for more advancement and growing technology, the wheelchair market witnessed many growing opportunities. The development of innovative ideas in the designs and adding more features to make it more functional and effective for customers. The technological development can be used to improve usage and accessibility in a number of ways by making wheelchairs that are compatible with other electronic devices and can create more accessible spaces to interact with the environment. This helps raise awareness of wheelchair accessibility issues and helps in creating a more sustainable and exclusively improved society even with disabilities. Also, the key companies have more advantages and access to enter the emerging market by partnering with the local distribution companies and developing new facilities in the region. Government support for manufacturing companies to implement the research and development for the wheelchair has seen to grow the market.

Need for expanding in emerging market

The wheelchair market has risen significantly, but there are also several challenges that affect the growth. Wheelchair is very expensive and has limited accessibility in some of the region around the world. The lack of accessibility to wheelchairs is a major issue and a key challenge in the growth of this market. This lack of availability gives customers barriers to improving their mobility. The complex government regulation for the rising prices and imposing taxes on imported goods from various countries make it difficult for the manufacturer to stay competitive in the market. Due to technological advancement, wheelchairs are the most advanced and need proper technicians for repairing purposes, this lack of availability of technicians makes it difficult to get the wheelchairs serviced and makes the customer frustrated.
Wheelchair Market Segment Analysis
Based on Product
Based on product type, the Wheelchair market is divided into types namely the manual wheelchair, powered/ electric wheelchair, and the smart wheelchairs. The manual wheelchair comes in very different types, styles, and designs. These manual wheelchairs are the most used types of wheelchairs that are specially designed to meet the needs of users. Manual wheelchair are classified into standard wheelchairs, lightweight wheelchairs, and folding wheelchairs. These chairs are designed in such a way that they can be customized to add a variety of features and other options for fulfilling the demands of customers. Custom-made wheelchairs are ones that are customized to add cushions and backrests for the patients to improve their comfort quality and support for back those who have gone through spinal cord surgery.

Manual wheelchairs are also provided with a variety of accessories like wheelchair bags and lifts. The powered wheelchair is an example of technological advancement as these are electric-powered wheelchairs. Technological advancement has played a vital role in the growth of the wheelchair market by introducing self-controlled chairs and making them more comfortable and functional by the addition of smart features. The advancement in battery technology is the key driving factor for the growth of wheelchairs in the world. This battery technology is helping in making the wheelchairs more lightweight and efficient.

Based on Application
Based on the application of wheelchairs, the market uses wheelchairs for various different purposes. Homecare is the largest segment application of wheelchairs. The use of wheelchairs in-home care has increased due to the rising number of population with disabilities, who from birth live at home in spite of going out. Also, the increasing old age population's demand for the increased number of wheelchairs and technological development has made it easier for people with disabilities to live without depending on others. The hospital segment is the second segment that is dominating the use of wheelchairs in the market. The hospitals are for a variety of purposes. Wheelchairs are also in a variety of purposes like patient transport, wound care, and rehabilitation centers. The use of wheelchairs in carrying patients has made it possible and very safe to locate patients from one place to another. Wound care is the next segment for wheelchairs with moving around and avoiding pressure and promoting further applications. Rehabilitation centers use a significant number of wheelchairs as these help the disabled to regain their strength and mobility to walk after surviving an injury. Other application of wheelchairs is the transporting of patients for surgery and from operation theatre to particular wards and helps those to use the general amenities like bathroom and food court area.


Wheelchair Market Regional Analysis
North America is the largest market for wheelchairs globally. The rise in use of wheelchairs has increased due to the rise in the geriatric population, the number of accidents increasing recently, and for people with born or natural disabilities. The wheelchair market is influenced by demographic conditions, healthcare infrastructure, and technological advancement in the manufacturing of wheelchairs. Technological advancement in the making of wheelchairs like making lightweight wheelchairs and making them comfortable and affordable is contributing to the market growth. This region has an age-old age and an aging population and the government initiatives for rising chronic disease are some of the driving factors for the market growth.

The presence of a large number of key players in the market and thus boosting the growth of the market. The war veterans undergoing spinal cord surgery and injuries require mobility and the demand for wheelchairs is raised. The increasing population of disabled people and rising mobility issues are driving the market growth of wheelchairs in this region. Technological advancement for the need for more comfortable and fully functional wheelchairs for disabled and paralyzed people. With the use of advanced technology, the wheelchairs are also made customizable so that it allows and to choose from a range of features to fulfill consumer demand.

Europe region is the largest region for the wheelchair market because of the rising population and with large number of geriatric people. Europe has seen a rapid increase in the number of old age people aging above 65, this large population demands wheelchair use for the mobility purpose. The increasing awareness of the use of wheelchairs and advancement in wheelchair technology are some of the factors contributing to the growth of the market. The rise in chronic diseases in this region like as stroke, diabetes, and arthritis has led to the increasing demand for wheelchairs and driving the market growth. Availability of wheelchairs was the main issue but the huge production has led to the easy availability and leading to the surge in demand for wheelchairs. The continuous development and technological advancement in wheelchair manufacturing by key companies in recent years have been a major driving factor for the rise and growth of the market.

Competitive Landscape

Invacare Corporation is a leading manufacturer of medical devices which is one of the world’s largest companies. This company has a long history and has made several innovations in technology to develop more innovative and new products to meet the demand of people especially disabled people. Their technological advancement includes the introduction of smart wheelchairs, powered wheelchairs, and lightweight wheelchairs. The Invacare Company has also made customizable wheelchairs for the betterment and improved the overall efficiency of the wheelchairs by providing customizable changes including airbags Sunrise Medical Company is also a leading company for their innovation, technological development, and research and development. This company has also introduced smart wheelchairs and powered wheelchairs. Sunrise Medical is committed in improving the technology by understanding the need and demand of disable people. The other leading companies are also investing in the development of new technologies for the smart manufacturing of wheelchairs and innovating new ideas making the process easier and simpler.
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Global Wheelchair Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 4.586 Bn.


Forecast Period 2023 to 2029 CAGR:
7.09%
Market Size in 2029:
US $ 7.394 Bn.


 Segments Covered:
by Product
Manual
Electric
Smart


by Category
Adults
Pediatric


by Application
Homecare settings
Hospitals and Clinics
Ambulatory surgical centres



Wheelchair Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Wheelchair Market, Key Players are
1. Invacare Corporation
2. Sunrise Medical
3. Permobil
4. Pride Mobility Products Corp.
5. Hoveround Corporation
6. Panthera AB
7. Ottobock
8. Meyra GmbH
9. Custom Engineered Wheels
10. Alber GmbH
11. Intelliwheels, Inc.
12. GF Health Products Inc.
13. LEVO AG
14. SEGWAY Inc.
15. Quantum Rehab
16. Karman Healthcare Inc.
17. Seating Matters
18. Numotion
19. Pride Mobility Products Corp.
20. Carex Health Brands Inc.
Frequently Asked Questions:
1. Which region has the largest share in Global wheelchair Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global wheelchair Market?
Ans: The Global Residential Electric Underfloor Heating Market is growing at a CAGR of 7.09% during forecasting period 2023-2029.

3. What is the scope of the Global wheelchair Market report?
Ans: Global Wheelchair Market report helps with the PESTEL, PORTER, and COVID-19 Impact analysis, Recommendations for Investors and leaders, and market estimation of the forecast period.

4. Who are the key players in Global wheelchair Market?
Ans: The important key players in the Global wheelchair Market are – Invacare Corporation, sunrise medical, Permobil, alber GmbH, Meyra GmH, panthera AB and others

5. What is the study period of this Market?
Ans: The Global Wheelchair Market is studied from 2022 to 2029.