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Wheelchairs Market

Wheelchair is used for mobility purpose by the disabled person or a person who is unable to walk post injury or certain illness. Wheelchairs are available in two types, which are manual wheelchair and power or electric wheelchair. They can be used for outdoor as well as indoor purpose. New development and innovation, such as sports wheelchair, stair climbing wheelchair, and smart wheelchair is expected to grow wheelchairs market in the near future. Customized form of wheelchairs designed for daily use or for certain field activity are also available. Wheelchairs minimize the problems or pain of the user such as back pain, sores, digestion, and respiration. The manual wheelchair is mostly used by the patient who has upper body strength and electric wheelchairs are used by patients who feel fatigue easily. Solar powered with a retractable roof wheelchairs are also available where solar panels are embedded on the top instead of batteries.

The growth in aging population and disabilities contribute the major market share for the wheelchairs market in the near future.

The global Wheelchair market was valued at US$ 4,390.4 million in 2016 and is expected to witness a robust CAGR of 15% during the forecast period (2017-2025).

Wheelchair Market Value, US$ Million, 2016

Source: Coherent Market Insights (2017)

Rise in aging population is expected to favor the growth of wheelchair market

North America accounts for the largest share in the global wheelchair market, followed by Europe and Asia Pacific. Mostly wheelchairs are used by elder people who are near to the age of 60’s and above. As per Population Reference Bureau 2016 report, in the U.S. around 46 million people of age 60 and above are estimated to use wheel chair, the number is expected to reach around 98 million by 2060 supporting the share of North America for the wheelchairs market. Asia Pacific region is expected to show growth in wheel chair market, owing to increasing population in economies like China and India. Major investments in healthcare fuels the growth of wheelchairs market in this region. The wheelchairs market is expected to show high growth rate in Asia-Pacific region over the forecast period as Asia consist of 60% of the world’s current population.

According to National Institute on Aging in 2010, 524 million people were estimated to be of age 65 or older, which is 8% of the world's population. The number is expected to be nearly triple to 1.5 billion, representing 16% of the world's population by 2050. The above mentioned statistics is expected favor the growth of Wheelchairs market globally.

Increase in disability is expected to fuel the Wheelchairs market in near future

According to Center for Disease Control and Prevention (CDC), which is the leading national public health institute of the United States, 18.2 million adults in the U.S. have disability in walking in present year 2017 which expected to favor the growth of wheelchair market in the U.S. Additionally, CDC had estimated that, 54.4 million U.S. adults are annually diagnosed with some form of arthritis, which increases the risk of fall and injury, in turn fueling the growth of wheelchairs market. Spinal injury resulting into disability also favors the market for wheelchairs. According to National Spinal Cord Injury Statistical Center report 2016, in the U.S. around 314 million people suffer from spinal cord injury, leading to disability with increasing the demand for wheelchairs.

Key players operating the Wheelchair market includes Invacare Corporation, Sunrise Medical LLC, Ottobock Healthcare, 21st Century Scientific, Inc., Permobil AB, Pride Mobility Products Corporation, LEVO AG, GF Health Products, Inc., MEYRA GmbH, Hoveround Corporation, Aquila Corporation, Aspen Seating, Drive Medical, Eagle Sportschairs LLC., EASE Seating System, and Medical Depot Incorporation.