Global wheelchair market size projected to surpass $7.3 billion by the end of 2031, TMR report

Transparency Market Research

Transparency Market Research

An increase in the disabled population and the introduction of advanced wheelchairs are increasing the demand for wheelchairs

Wilmington, Delaware, United States, November 21, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc.The global wheelchair market is expected to be driven by an increase in the geriatric population. People with mobility issues have benefited from the development of self-propelled wheelchairs. From 2022 to 2031, global wheelchair use is expected to increase at a CAGR of 6.3%.

Evolving technological developments in designs through research and development activities are crucial trends that will boost future market sales. The introduction of battery-powered electric wheelchairs is said to bring significant benefits to users. Additionally, with advances in design, wheelchairs are now able to store and connect the device to the patient’s medical history, as well as monitor users’ health. Products designed with a combination of new technologies to improve comfort and can be used both indoors and outdoors, which can ultimately promote the growth of the world wheelchair market.

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wheelchairs Market: Main Findings of the Report

  • Wheelchairs are in high demand in nursing homes. Several companies investing in self-propelled wheelchairs are expected to benefit significantly from this new technology. In the near future, new breakthroughs and improvements such as sports wheelchairs, stair climbing wheelchairs and smart wheelchairs are expected to drive the global wheelchair market

  • People with disabilities are likely to need more mobility devices to carry out their daily tasks, as diseases often coexist with obesity and disability in the geriatric population. Obesity and lifestyle-related disabilities among the elderly are expected to drive demand in the wheelchair market.

  • The power wheelchair segment is being driven by an increasing demand for portable chairs with long battery life. Additionally, technological developments and increased awareness of different types of power wheelchairs are expected to boost the segment throughout the forecast period.

  • The pediatric segment is expected to grow significantly as the incidence of childhood diseases such as B. cerebral palsy increases. Cerebral palsy is one of the most common mobility disorders requiring the use of a wheelchair. It is the highest disability among children around the world. As a result, wheelchair manufacturers expect the pediatric market to be a major revenue driver in the years to come.

  • The market size of manual wheelchairs is projected to grow at the fastest CAGR during the forecast period owing to the strong demand for manual wheelchairs. They’re also available in a range of configurations and weights, ranging from standard to ultra-lightweight, and take up minimal space due to the fact that many of the product models are collapsible.

wheelchairs Market: key figures

Key companies engage in mergers and acquisitions, strategic collaborations and new product launches to expand their global reach. TMR Wheelchairs Market research report offers the players deep insights about the growth trajectory. These inputs help them formulate strategies to meet customer demand and expand their customer base. Companies use techniques such as partnerships and collaborations, new product releases, acquisitions, mergers and partnerships to add value to the market.

Global wheelchair industry leaders include Sunrise Medical LLC, Karman Healthcare, Invacare Corporation, Drive Medical, Permobil and Pride Mobility Products Corp.

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wheelchairs Market: Regional growth dynamics

  • It is estimated that North America dominates the global wheelchair market. The region’s market is being driven by an increase in the prevalence of lifestyle diseases, osteoporosis and other autoimmune diseases, resulting in a wheelchair dependency. Other factors driving the market in North America are technological developments in power wheelchairs, an increase in the number of baby boomers, an increase in the geriatric population and an increase in the disabled patient population.

  • Currently, Europe has a sizeable geriatric population. Aging is associated with a decline in family support for long-term care and the high cost of professional long-term care services. These societal structural changes are expected to increase the demand for mobility aids such as electric wheelchairs, thus fueling the market for electric wheelchairs and foldable electric wheelchairs.

  • Asia Pacific is expected to be the fastest growing wheelchair market. This can be attributed to improvements in healthcare infrastructure, increased acceptance of modern wheelchairs, increased money available, increased awareness of electric and new types of wheelchairs, and increased investment by companies in developing personal mobility devices.

Wheelchair Market Segmentation:

  • default

  • bariatric

  • Sports

  • Other

  • Institutional Use

  • personal use

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

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