Wheelchairs Market Propelled to Reach US$ 7.9 Billion by the year 2032 with a Steady 3.2% CAGR | FMI

Optimal wheelchairs enhance mobility, vital for diverse users. Market growth relies on quality, cost-effectiveness, and global collaboration.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 21, 2023 /EINPresswire.com/ -- As per Future Market Insights’ latest industry analysis, the valuation for the global wheelchairs market was around US$ 5.5 Billion in 2021 and is projected to exhibit growth at a CAGR of close to 3.2% over the forecast period.

Utilizing the skills and resources of the public, private, and nonprofit sectors is essential to fostering innovation and removing obstacles to accessibility and affordability for assistive technology (AT). For people to become more economically and civically engaged and to avoid adverse health effects, access to an appropriate wheelchair is essential.

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A wheelchair is considered appropriate if it: satisfies the user's demands and environmental requirements; offers a proper fit with ergonomic adjustment; is safe and reliable; is readily available in the nation; and can be obtained, maintained, and provided with services in the nation at a reasonable price. The usage of an appropriate wheelchair improves users' mobility and flexibility, which is a requirement for active involvement in civic, professional, and educational activities.

Wheelchairs are among the most widely used assistive devices. Those who require wheelchairs have mobility limits and may include individuals with congenital abnormality, people with developmental and neurological problems (such as cerebral palsy or muscular dystrophy), people with a spinal cord injury, and people with musculoskeletal conditions (lower limb amputation), people living with physical handicap caused by polio or non-communicable diseases (NCDs) such as diabetes or stroke, and older people.

The wheelchair market is expected to grow as demand is created and consolidated around the best products in terms of effectiveness, features, quality, and cost. Additionally, in order to lower production costs and promote the adoption of strict quality standards, manufacturers and suppliers must collaborate in order to shape the global wheelchairs market for greater revenue sales.

Key Takeaways from Wheelchairs Market Study:

• Manual wheelchairs are the leading segment as a product, and hold approximately 70.5% market share in 2021, owing to their adoption by people with mobility issues, who do not suffer from chronic conditions.

• The lightweight wheelchair segment is set to lead in terms of function for wheelchairs with a projected market share of around 30.0% by 2032, owing to the ease of its use.

• Institutional sales accounted for around 82.2% of the global wheelchairs market, by distribution channel, in 2021, owed to the high adoption of treatment within institutional settings.

• North America is considered the leading region with a global share of 35.4% in 2021, owing to the large number of available distributors for wheelchairs in the region.

“Mobility issues associated with aging are likely to affect older generations, which is predicted to raise demand for wheelchairs and fuel market expansion for wheelchairs over the forecast period,” - says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Wheelchairs Market Competition:

The market for wheelchairs is highly fragmented, and there exists a number of competitors within the market sphere. Several local producers exist in low and middle-income nations, owing to favorable government regulations, incentives to manufacture locally, and the belief that wheelchairs are a low-tech product.
• Invacare Corporation announced the release of a new, slimmer version of the Invacare^® AVIVA^® STORM RXTM rear-wheel drive power wheelchair in January 2022.
• Sunrise Medical announced the introduction of two new electric wheelchairs in January 2022 for both its adult QUICKIE and pediatric ZIPPIE lines.

What Does the Report Cover?

Future Market Insights offers a unique perspective on the wheelchairs market, presenting a historical demand assessment of 2015-2021 and projections for 2022-2032. The global wheelchairs market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on the product – (Manual Wheelchairs, and Powered Wheelchairs), function (standard transport wheelchairs, self-propelled wheelchairs, sports wheelchairs, standing wheelchairs, recliners wheelchairs, bariatric wheelchairs, and lightweight wheelchairs), and distribution channel (institutional sales, and retail sales), across seven key regions of the world.

Top Key Companies Profiled in the Wheelchairs Market:

Invacare Corporation
Sunrise Medical
Permobil
Pride Mobility Products Corp.
21st Century SCIENTIFIC Inc.
Hoveround Corporation
Panthera AB
Ottobock
Meyra GmbH
Handi-Care Intl.
Custom Engineered Wheels
Alber GmbH
Intelliwheels, Inc.
GF Health Products, Inc.,
LEVO AG
SEGWAY INC.

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Key Market Segments Covered in Wheelchairs Industry Research:

By Product:
• Manual Wheelchairs
• Powered Wheelchairs

By Function:
• Standard Transport Wheelchair
• Self-Propelled Wheel Chair
• Sports Wheel Chairs
• Standing Wheel Chairs
• Recliners Wheel Chairs
• Bariatric Wheel Chairs
• Light-weight Wheel Chairs

By Distribution Channel:
• Institutional Sales
• Retail Sales

By Region:
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

Authored By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Have a Look at Related Reports of Covered in Wheelchairs Market:

Electric Wheelchair Market is set to reach a valuation of US$ 4,352.4 million in 2023. Between 2023 and 2033 to grow at 10.4 to reach up to US$ 11,741.6 million by 2033.

Smart Wheelchair Market will expand at a CAGR of 7.8% over the forecast period (2022 to 2032).

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
+91 90966 84197
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