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Global Wheelchairs Market To Receive Overwhelming Hike In Revenues By 2026

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The Global Wheelchairs Market was valued at US$ 4,390.4 million in 2016 and is expected to witness a robust CAGR of 15% during the forecast period (2017-2025). Wheelchairs are primarily designed for disable individuals for the ease of indoor and out
Global Wheelchairs Market To Receive
Overwhelming Hike In Revenues By 2026
Global Wheelchairs Market, By Product Type (Manual Wheelchairs, Electronic
Wheelchairs), Weight (Light Weight Wheelchairs, Heavy Weight Wheelchairs),
Modality (Pediatric Powered Wheelchairs, Adults Powered Wheelchairs), EndUser (Hospitals, Clinics, Ambulatory Surgical Centers, Home Care Settings),
and Geography - Insights, Size, Share, Opportunity Analysis, and Industry
Forecast till 2025
The Global Wheelchairs Market was valued at US$ 4,390.4 million in 2016 and is expected to
witness a robust CAGR of 15% during the forecast period (2017-2025).
Wheelchairs are primarily designed for disable individuals for the ease of indoor and outdoor
locomotion purpose. Various types of wheelchairs are available in the market, such as recliner
wheelchairs, active wheelchairs (sports wheelchairs), transport wheelchairs, and standing wheelchairs.
Two major types of wheelchairs are manual wheelchairs and electric wheelchair. Manual wheelchair is
cost effective than electric wheelchairs as it requires less maintenance. The recent past has witnessed a
rising trend of consumers opting for highly customized wheelchairs, which in turn creates a highly
conducive environment for growth of the global wheelchairs market. Major players in the market are
inclined towards inorganic growth strategies in order to enhance their product portfolio. For example,
Permobil AB acquired five companies during 2013-2017 in order to significantly strengthen its global
footprint.
As per Disabled World Journal Report 2013, around 6.8 million people in the U.S. required assistive
device for mobility, out of which around 1.7 million people used wheelchairs for mobility purposes.
Furthermore, as per Centers for Disease Control and Prevention (CDC), national public health institute
of the United States reports 2015, 1.9 million people in the U.S. were living with limb loss due to
diabetes, vascular diseases, infection, trauma, and cancer. These factors in turn create a highly
conducive environment for growth of the wheelchairs market.
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Market Dynamics
The wheelchair market growth is expected to gain traction in the near future, as a result of rise in
geriatric population and lower limb amputation cases due to various impairment such as diabetes and
vascular diseases at constant rate. According to Centers of Disease Control and Prevention 2014 report
(CDC), in the U.S., around 30.0 million people were diagnosed with diabetes and around 8.0 million
people are living with undiagnosed diabetes.
Additionally, according to European Journal Aerzteblatt-international.de 2017 report, there were
around 100,000 lower limb amputation caused by trauma, intoxication, musculoskeletal disease,
diseases of the skin, and subcutaneous tissue or neoplasia that leads to the disability, which in turn is
also expected to favor the wheelchair market in the near future.
Rise in aging population is expected to favor the growth of wheelchair market
North America accounts for the largest share in the global wheelchair market, followed by Europe and
Asia Pacific. Mostly wheelchairs are used by elder people who are near to the age of 60’s and above.
As per Population Reference Bureau 2016 report, in the U.S. around 46 million people of age 60 and
above are estimated to use wheel chair, the number is expected to reach around 98 million by 2060
supporting the share of North America for the wheelchairs market. Asia Pacific region is expected to
show growth in wheel chair market, owing to increasing population in economies like China and India.
Major investments in healthcare fuels the growth of wheelchairs market in this region. The wheelchairs
market is expected to show high growth rate in Asia-Pacific region over the forecast period as Asia
consist of 60% of the world’s current population.
Competitive Analysis
Key players operating the Wheelchair market includes Invacare Corporation, Sunrise Medical LLC,
Ottobock Healthcare, 21st Century Scientific, Inc., Permobil AB, Pride Mobility Products Corporation,
LEVO AG, GF Health Products, Inc., MEYRA GmbH, Hoveround Corporation, Aquila Corporation,
Aspen Seating, Drive Medical, Eagle Sportschairs LLC., EASE Seating System, and Medical Depot
Incorporation.
Increase in disability is expected to fuel the Wheelchairs market in near future
According to Center for Disease Control and Prevention (CDC), which is the leading national public
health institute of the United States, 18.2 million adults in the U.S. have disability in walking in present
year 2017 which expected to favor the growth of wheelchair market in the U.S. Additionally, CDC had
estimated that, 54.4 million U.S. adults are annually diagnosed with some form of arthritis, which
increases the risk of fall and injury, in turn fueling the growth of wheelchairs market. Spinal injury
resulting into disability also favors the market for wheelchairs. According to National Spinal Cord
Injury Statistical Center report 2016, in the U.S. around 314 million people suffer from spinal cord
injury, leading to disability with increasing the demand for wheelchairs.
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absolute dollar opportunity.
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Author
ravikiran
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