Published: June 2021 | Report Code: LS12189 | Available Format: PDF | Pages: 209
The global wheelchair market stood at $5,386.0 million in 2020, and it is expected to grow at a CAGR of 7.9% during the forecast period (2021–2025). The major factors behind this lucrative growth include surging number of geriatric patients, improving healthcare infrastructure, enhancing post-treatment services, and increasing prevalence of obesity. Moreover, the rising cases of spinal cord injuries (SCIs) and road accidents have further fueled the market growth.
During the COVID-19 pandemic, lockdown and partial factory closure have negatively impacted manufacturing facilities across the globe. As the COVID-19 continues to spread around the world, companies have taken drastic steps in the form of manufacturing plant closure to contain the spread of coronavirus and to ensure employees’ safety. Moreover, most of the hospitals are focusing on treating COVID-19 patients and are not allowing the entry for outpatients as well as patients suffering from mobility impairment disorders, leading to the decreased demand for wheelchairs, which, in turn, resulted in negative impact on the wheelchair market.
The manual category dominated the wheelchair market during the historical period (2015–2020), accounting for larger share in 2020, based on type. This is mainly due to the low cost of manual wheelchair and it helps in boosting confidence among users in overcoming the psychological fear of incapability.
The standard category is expected to witness the fastest growth in the wheelchair market during the forecast period, based on modality. This can be majorly attributed to several benefits offered by standard wheelchairs, such as efficient long outdoor and indoor maneuverability, speed, comfort, weight distribution, and repositioning and pressure relief from long-sitting hours. Furthermore, their components are easily available and these are majorly constructed to withstand normal daily activities.
The adult category held larger share in 2020 in the wheelchair industry, based on end user. This is mainly due to high prevalence of spinal injuries, neuromuscular disorders, and trunk/neck weakness among adults, as compared to children. This has led to the higher adoption of wheelchairs by adult users.
The institutional category held larger share in the wheelchair market in 2020, based on application. This category is also expected to grow at a higher CAGR during the forecast period. This is mainly ascribed to the rapidly increasing number of accidents, which require wheelchairs in case of medical emergencies. Furthermore, the rising requirement of wheelchairs during the post-operative care in healthcare facilities is driving the market growth in this category.
Based on distribution channel, the wheelchair industry is categorized into retail and e-commerce. Of the two, the e-commerce is expected to be the faster-growing category in future years. This can be ascribed to the preference of customers to review the product before buying it online, and high availability of different types of wheelchairs on online websites.
Geographically, North America occupies the leading position in the wheelchair market, and it is expected to continue displaying this trend during the forecast period as well. This is majorly attributed to the rising number of geriatric patients, primarily in the U.S., which has created a high demand for wheelchairs, as these are required by elderly people facing mobility issues.
The APAC wheelchair market is expected to witness fastest growth, owing to the rising number of geriatric patients, growing medical tourism industry, and increasing cases of chronic disorders. Moreover, the rising cases of disabilities in children and increasing number of accidents are leading to the loss in mobility, which, in turn, drives the demand for wheelchairs, in the region.
Due to the technological advancements, various types of powered wheelchairs are offered by key manufacturers, with an aim to ease out the work for patients. For instance, in March 2020, Invacare Corporation announced the launch of a new range of powered wheelchairs, namely, Invacare AVIVA FX. This wheelchair was launched with technologically advanced front wheel power mobility with an open stack design, in which the wheels and hubs, tires, gearboxes, and motors can be easily removed. Moreover, some of the powered wheelchairs are designed specifically for athletes to help them participate in games such as basketball, tennis, and rugby. These are provided with features such as quick adjustments, high-performance sports wheels, side guards and seat cushions, and single swivel anti-tip bar.
Over the recent years, there has been a significant rise in number of geriatric patients, worldwide. According to the World Population Ageing 2019 report by the United Nations (UN), there were 703 million people aged 65 years and above in 2019, which is projected to reach 997.4 million by 2030. Furthermore, surging number of chronic diseases in the older population, as compared to other diseases, leads to increase disabilities among them, and thus, creating high demand for wheelchairs. These factors are expected to propel the wheelchair market at the global level in coming years.
|Base Year (2020) Market Size||$5,386.0 Million|
|Market Size Forecast in 2025||$7,818.5 Million|
|Forecast Period CAGR||7.9%|
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Company Profiling|
|Market Size by Segments||By Type; By Modality; By Application; By End User; By Region|
|Secondary Sources and References (Partial List)||American Association of People with Disabilities; Association of People with Disability; Disabled Peoples' International; Latvian Association for Support of Disabled People; Muscular Dystrophy Association; Organization for Economic Co-Operation and Development; Slovenian Disability Rights Association; Spinal Cord Injury Association; Wheelchair Sports Federation; Wheelchair Foundation; World Health organization|
The global wheelchair market is fragmented in nature, with the presence of a few large-scale players and numerous small- and medium-scale players. Some of the major players in the market include Invacare Corporation, Sunrise Medical (US) LLC, Permobil AB, Medline Industries Inc., Yuwell-Jiangsu Yuyue medical equipment & supply Co. Ltd., Ottobock SE & Co. KGaA, Pride Mobility Products Corporation, MEYRA GmbH, Hoveround Corporation, MATSUNAGA MANUFACTORY Co. Ltd., and Ki Mobility, Etac AB.
The global wheelchair market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2025.
Based on Type
Based on Modality
Based on End User
Based on Application
Based on Distribution Channel
In 2025, the value of the wheelchair market will be $7,818.5 million.
Institutional is the larger category under the application segment of the wheelchair industry.
The major wheelchair market drivers are surging number of geriatric patients, rising cases of SCIs and road accidents, improving healthcare infrastructure, and enhancing post-treatment services.
North America is the largest and APAC is the fastest-growing wheelchair market.
Most wheelchair market players are adopting product launches strategy to sustain their business growth.
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