Wheelchair Market Size, Price, Demand and Analysis 2028

Wheelchair Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Powered/Electric Wheelchair, Smart Wheelchair, and Manual), Type (Front Wheel Drive, Center Wheel Drive, Rear Wheel Drive, and Standing Electric Wheelchair), End User (Homecare, Hospitals and Clinics, Rehabilitation Centers, and Ambulatory Surgical Centers), Application (Neurologically Impaired, Handicap Patients, and Others), and Usage (Adult and Paediatric (below 18)); Distribution Channel ( Retail and E-Commerce), and Geography.

Publication Month : Jun 2021

  • Report Code : TIPRE00007069
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 232
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The Wheelchair Market was valued at US$ 4,073.71 million in 2021 and is projected to reach US$ 6,459.07 million by 2028; it is expected to grow at a CAGR of 6.8% from 2021 to 2028.

Patients use wheelchairs when walking is impossible for them due to injury, illness, or disability. There are different types of wheelchairs available in the market, depending on the patient's requirement. There is a wide range of wheelchairs available differing by mechanisms of control, propulsion method, and technology used. There has been a significant effort in the last decade to develop a wheelchair with innovative features.   

The scope of the wheelchair market includes product, type, end user, applications, usage, distribution channel, and region. The market for wheelchair is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the wheelchair market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.

 

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Wheelchair Market: Strategic Insights

wheelchair-market
Market Size Value inUS$ 4,073.71 Million in 2021
Market Size Value byUS$ 6,459.07 Million by 2028
Growth rateCAGR of 6.8% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Lucrative Regions for Wheelchair Market

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Market Insights

Rising Geriatric Population in World

Greater risk of physical disabilities in elderly population boosts the demand for wheelchairs. As per the United Nations, globally 46% of people with age 60 and above have disabilities; ~250 million people have moderate to severe disabilities. Furthermore, the accumulation of health risks across a lifespan of disease, injury, and chronic illness contributes to higher disability rates among older people. As per the United Nations World Population Ageing Report, the global population of people with age 60 and above reached 962 million in 2017 from ~382 million in 1980, with more than two-times increase. The report also mentions that number of elderly people is further expected to double by 2050 to reach ~2.1 billion. As per the US Census Bureau, there were 54 million US residents with age 65 and above in the July 2019. Further, the Urban Institute estimated that number of US population belonging to this age group would reach 80 million by 2040. Similarly, as per the Population Census 2011, in India, ~104 million Indians were with age 60 or above, comprising ~53 million females and ~51 million males. According to a report by the United Nations Population Fund and HelpAge, elderly population in India is estimated to grow to 173 million by 2026.

Thus, the growing aging population across the world is bolstering the demand for wheelchairs.

Wheelchair Product -Based Insights                  

Based on Product, the wheelchair market is segmented into powered/electric wheelchair, smart wheelchair, and manual. The manual wheelchair segment held the largest share of the market in 2021, whereas the powered/electric wheelchair segment is anticipated to register the highest CAGR in the market during the forecast period.

Wheelchair Type -Based Insights                      

Based on type, the wheelchair market is segmented into front wheel drive, center wheel drive, rear wheel drive, and standing electric wheelchair. The center wheel drive segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. Growth of this segment is attributed to advantages offered by center wheel drive such as easy navigation through doorways and narrow spaces, and superior stability.

Global Wheelchair Market, by Type – 2021 & 2028

Global Wheelchair Market, by Type – 2021 & 2028
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Wheelchair End User-Based Insights                 

Based on end user, the wheelchair market is segmented into homecare, hospitals and clinics, rehabilitation centers, and ambulatory surgical centers. The rehabilitation centers segment held the largest share of the market in 2021 and is estimated to register the highest CAGR in the market during the forecast period. Growth of this segment is attributed to increasing number of rehabilitation centers coupled with rising number of musculoskeletal conditions.

Application-Based Insights

Based on application, the wheelchair market is segmented into neurologically impaired, handicap patients, and others. The neurologically impaired segment held the largest share of the market in 2021 and is estimated to register the highest CAGR in the market during the forecast period.  

Usage – Based Insights

Based on usage, the wheelchair market is segmented into adult and pediatric (below 18). The adult segment held a larger share of the market in 2021 and is estimated to register the highest CAGR in the market during the forecast period.

Distribution Channel – Based Insights

Based on distribution channel, the wheelchair market is segmented into retail and E-commerce. The retail segment held the largest share of the market in 2021. However, the E-commerce segment is estimated to register the highest CAGR in the market during the forecast period.

COVID-19 pandemic has become the most significant challenge across the world. This challenge will be frightening especially in developing countries across the world as it will lead to reducing imports due to disruptions in global trade. The COVID-19 pandemic affected the pharmaceutical, medical device, R & D, and other businesses across the world. Wheelchair devices are essential medical devices in several mobility conditions. As the rise of the pandemic crisis was uncertain, there is shortage in supply of wheelchairs and consumables. However, market players are adopting various strategies to increase its distribution of wheelchairs. For instance, according to British Red Cross, in 2020, the organization provided wheelchair service to around 140 communities across the UK. Also, the organization supplied around 50,000 wheelchairs for patients with permanent as well as temporary mobility conditions.  

Product launches and expansion strategy are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. These strategies are commonly adopted by the market players to expand its product portfolio.

The market players operating in the wheelchair market adopted the strategy of product innovation to cater to changing customer demand across the world, which also permits the players to maintain their brand name globally.

By Product

  • Manual Wheelchair
  • Powered/Electric Wheelchair
    • Standard Powered Wheelchairs
    • Custom-Built Powered Wheelchairs
  • Smart Wheelchair

By Type

  • Centre Wheel Drive
  • Front Wheel Drive
  • Rear Wheel Drive
  • Standing Electric Wheelchair

By End User

  • Rehabilitation Centres
  • Hospitals and Clinics
  • Homecare
  • Ambulatory Surgical Centres

By Application   

  • Neurologically Impaired
  • Handicap Patients
  • Others

By Usage

  • Adult
  • Pediatric (below 18)

By Distribution Channel

  • Retail
  • E-Commerce

By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of the Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East and Africa
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of South America

Company Profiles

  • Invacare Corporation                            
  • Medline Industries, Inc.                        
  • OTTOBOCK                                          
  • MEYRA GMBH                                       
  • KARMAN HEALTHCARE, INC                  
  • Sunrise Medical                                    
  • HOVEROUND CORPORATION                 
  • LEVO AG     
  • Permobil      
  • Smile Smart Technology
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product ; Distribution Channel , and Geography.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

The List of Companies - Wheelchair Market

  1. Invacare Corporation        
  2. Medline Industries, Inc.    
  3. OTTOBOCK        
  4. MEYRA GMBH    
  5. KARMAN HEALTHCARE, INC      
  6. Sunrise Medical               
  7. HOVEROUND CORPORATION    
  8. LEVO AG            
  9. Permobil              
  10. Smile Smart Technology

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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