Wheelchair Market Analysis, Industry Growth Overview, Current Trends, Competitive Opportunities and Industry Forecast to 2024
Market
Highlights:
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.
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.
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Key Players:
·
Drive
Medical
·
Ottobock
·
Quantum
Rehab
·
GF
Health Products
·
Karman
Healthcare
·
Pride
Mobility Products Corp
·
Levo
AG
·
Sunrise
Medical
Segment Analysis:
·
The global wheelchair
market has been segmented on the basis of product type, end user, and region. Wheelchair
market, by product type, has been segmented into electric wheelchair, manual
wheelchair, and accessories. Based on electric wheelchair segment is further
sub-segmented into rear-wheel drive chair, center wheel drive chai, and front-wheel
drive chair.
·
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.
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·
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