Global wheelchair market size to exceed $7.3 billion by end of 2031, TMR report

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An increase in the disabled population and the adoption of advanced wheelchairs strengthen the demand for wheelchairs

Wilmington, Delaware, United States, Nov. 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 impairments have benefited from the development of self-driving wheelchairs. From 2022 to 2031, global wheelchair use is expected to increase at a CAGR of 6.3%.

Evolving technological developments in designs through R&D activities are crucial trends that will boost future sales in the market. The introduction of battery-powered electric wheelchairs is expected to greatly benefit users. Additionally, with advances in design, wheelchairs are now able to store and link the device to a patient’s medical history, as well as monitor the health of the users. Products created with a combination of new technologies to improve comfort and can be used both indoors and outdoors, which could ultimately promote the growth of the global wheelchair market.

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Wheelchairs Market: Key Findings of the Report

  • Wheelchairs are in great demand in nursing homes. Several companies investing in self-driving wheelchairs are expected to significantly benefit 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 fuel the global wheelchair market size

  • People with disabilities are likely to require more mobility equipment to carry out their daily activities, as diseases among the geriatric population often occur alongside obesity and disability. Obesity and lifestyle-related disabilities among the elderly are expected to increase the demand in the wheelchair market.

  • The electric wheelchair segment is driven by an increase in demand for portable chairs with long battery life. Additionally, technological developments and increased awareness of different types of electronic wheelchairs are expected to strengthen the segment throughout the forecast period.

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

  • The manual wheelchair market size is anticipated to expand at the fastest CAGR during the forecast period due to the high demand for manual wheelchairs. They are also available in a number of configurations and weights, ranging from standard to ultralight, and take up minimal space due to the fact that many of the product models are foldable.

Wheelchairs Market: Key players

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

Leading companies in the global wheelchair industry 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

  • North America is estimated to dominate 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, leading to wheelchair addiction. Other factors driving the market in North America include technological developments in electric wheelchairs, a growth in the number of baby boomers, an increase in the geriatric population, and an increase in the disabled patient population.

  • Currently, Europe has a sizable geriatric population. Aging is related to declining 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 aid equipment such as electric wheelchairs and thereby fuel the electric wheelchair and folding electric wheelchair markets.

  • Asia Pacific is expected to be the fastest growing market for wheelchairs. This can be attributed to improvements in healthcare infrastructure, increased acceptance of sophisticated wheelchairs, increased disposable income, increased awareness of new types of electric wheelchairs, and increased investment by companies in the development of personal mobility aids.

Wheelchair Market Segmentation:

  • Standard

  • Bariatric

  • Sports

  • Other

  • Institutional use

  • Personal use

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East and Africa

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