The Global Wheelchair Market is estimated to be valued at USD 9,554.07 Million by 2024 and is projected to register a CAGR of 2.80% during the forecast period. A wheelchair is a chair fitted with wheels that are used as a means of transport by individuals who are unable to walk due to illnesses, diseases, or disabilities. Wheelchairs are primarily used by the differently abled and geriatric population worldwide. Hence the increasing geriatric population ultimately has a positive impact on global wheelchair market growth.
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The rising geriatric population and the increasing popularity of Paralympic games are anticipated to drive the market growth. However, the high cost of electric wheelchair products is projected to hamper market growth.
Segment Analysis
The wheelchair market has been segmented based on product type, end-user, and region. The wheelchair market, by product type, has been segmented into an electric wheelchair, manual wheelchair, and accessories. Based on the electric wheelchair segment is further sub-segmented into rear-wheel drive chair, center wheel drive chai, and front-wheel drive chair. The wheelchair market for manual wheelchair segment is sub-segmented into standard manual wheelchairs, light and ultra-lightweight wheelchairs, bariatric wheelchairs, and, sport wheelchairs. Based on accessories, the market segmented into wheelchair ramps, postural support accessories, armrest accessories, wheelchair trays, and batteries & chargers. The wheelchair market, by end-user, has been segmented into home care settings; and hospitals and clinics.
Regional Analysis
The global wheelchair market, based on region, is separated into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
The Americas is anticipated to hold the largest share of the global wheelchair market. This is owing to the presence of key market players, high prevalence of the chronic disease, and rising geriatric population.
Europe has significant growth in the wheelchair market. This due to the growing elderly population and increasing usage of wheelchair products. According to the United Nations (UN), in Europe, 183.0 million people were aged over 60 in 2017, and this figure is estimated to reach 247.2 million by 2050. These factors are expected to have a positive impact on the wheelchair market in Europe.
Asia-Pacific is projected to be the fastest-growing region in the global wheelchair market due to the large pool of geriatric population and rising number of hospitals. According to a report published by the Indian Central Bureau of Health Intelligence, in March 2017, around 23,582 government hospitals in the county, of which 19,810 were in rural areas and 3,772 in urban areas.
Also, the wheelchair market in the Middle East and Africa region is likely to exhibit the lowest growth due to factors such as limited access to and availability of treatment facilities.
Market Players
Market Research Future (MRFR) recognizes Drive Medical (US), Ottobock (Germany), Quantum Rehab (US), GF Health Products, Inc. (US), Karman Healthcare, Inc. (US), Pride Mobility Products Corp. (US), Levo AG (Switzerland), Sunrise Medical (Germany), Medline Industries, Inc. (US), and Invacare Corporation (US) as the key players in the global wheelchair market.
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