Wheelchairs Market will be growing at a CAGR of 13.5% during the forecast 2018 to 2026

The latest market report published by Acute Market Reports, Inc. “Wheelchairs Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global market for wheelchairs was valued at US$ 4,878.2 million in 2017 and is expected to reach US$ 15,432.5 million by 2026, increasing to CAGR by 13.5 percent from 2018 to 2026.

Market Insights

The global market for wheelchairs has seen increasing adoption in recent years due to factors such as increasing the need for patients to regain their independence and mobility, increasing senescent populations, increasing the automation of mobility products and the demand for specialized wheelchairs from the sports fraternity. Perpetual innovations and developments in the field of wheelchairs, making them automatic, lightweight and even for purposes such as climbing stairs, are making this market increasingly lucrative for manufacturers and other stakeholders alike. Growing awareness among patients and consumers is making their needs more prominent and, in turn, the prevalent fragmented nature of the market is creating cut-throat competition between market players. Thus, in order to maintain a competitive front, players are increasingly involved in product innovation, providing patients with added convenience, safety, efficiency and comfort at competitive prices.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/wheelchairs-market

Based on product types, the global market for wheelchairs is divided into general-purpose wheelchairs, power wheelchairs, manual sports wheelchairs, and mobility scooters. Among these, the manual variants, i.e. the general purpose of wheelchairs and manual sports wheelchairs, have a larger market share, with significant traction coming from power wheelchairs. Among applications such as standard transport, pediatric use, sports utility, and others, the sports utility segment is progressing at a faster CAGR than the global benchmark during the forecast period. Wheelchairs have major areas of use in hospitals and clinics, outpatient centers, home care, and others. Professional care institutions, especially hospitals and clinics, and outpatient centers are the largest revenue-generating segments on the global market. The demand for manual wheelchairs in these segments is the highest. Where power variants and mobility scooters are increasing demand from the home segment.

Geographically, due to higher purchasing power, increased awareness and the strong presence of the baby boom population, North America is helping to have the strongest revenue presence on the global market, followed by Europe. The region’s primary user base of wheelchairs is the senescent population that is steadily rising in North America. Products such as mobility scooters are also gaining demand in the region as a result of consistent growth in the obese population. The Asia Pacific is witnessing a breakthrough growth in the forecast period, even by cannibalizing North America’s market share. A revolutionary transition in the healthcare system and infrastructure in the region, along with a large population base, is shaping trends in the Asia-Pacific market.

In addition, as the global disability pool, musculoskeletal conditions due to illnesses and trauma and related awareness increase, the market for wheelchairs will grow. Growing purchasing power and per capita income will lead to increased demand for power wheelchairs and mobility scooters. Increasing activities by advocacy and support groups and governments will encourage increased interest in sports for the disabled and thus increase market demand in specialty segments.

Key Market Movements:

• Growing establishments of assisted living facilities and hospice globally to drive the demand for general purpose and power wheelchairs
• Increasing focus on independent living among the disabled population
• Growing prevalence of spinal cord injuries and musculoskeletal conditions such as osteoporosis and rheumatoid arthritis that restrict patient movements
• Never before growth in popularity of disabled sports and recreational activities to boost demand for wheelchairs

List of Companies Covered:

• Ottobock SE & Co. KGaA
• Permobil AB
• Sunrise Medical LLC
• Medline Industries Inc.
• 21st Century Scientific Inc.
• LEVO AG
• Karma Medical Products Co. Ltd.
• Invacare Corporation
• Quantum Rehab
• TGA Mobility
• Panthera AB
• Hoveround (Healthcare Products Holdings Inc.)
• Pride Mobility Products Corporation

Market Segmentation:

By Type

 • General Purpose Wheelchairs

 • Power Wheelchairs

 • Manual Sports Wheelchairs

 • Mobility Scooters

 By Application Type

 • Standard Transport

 • Pediatric

 • Sports Utility

 • Others

 By Usage Area Type

 • Hospitals & Clinics

 • Ambulatory Centers

 • Home Care

 • Others

By Geography Segment Type

• North America (the U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America)