Wheel Chair Market Insights, Segmentation Analysis, Future Trends and Developments
DataM Intelligence’s latest market report titled ‘Global Wheel Chair Market - Size, Share and Forecast (2019 - 2026)’ reflects the size, scope, industry dynamics, major firms and future trends in this market. The research report analyses drivers and restraints operating in this competitive space to present a better in-depth of the underlying market opportunities.
Global Wheel Chair Market Drivers & Restraints
The rise in the geriatric population is likely to increase the demand for wheelchair market. According to the WHO, there has been a significant rise in the global geriatric population; the group of people above 65 years of age is the fastest growing population segment. This segment is expected to grow from 13% in 2010 to 19% by 2030. With growing age, the demand for mobile assistance aids increases. Increasing prevalence of spinal cord injuries and obesity are also driving the demand for wheelchairs globally.
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Global Wheel Chair Market Segmentation
By type, the powered wheelchair segment accounted for the largest market share in 2018 due availability of a wide range of products, such as electric wheelchairs, powered wheelchairs, and mobility scooters. Also, the higher price of powered wheelchairs compared to manual wheelchairs is also contributing to the growing market size of the powered wheelchair market over the forecast period (2019-2026).
By category, the adult segment held the largest share in 2018, due to rising spinal cord injuries among elderly people across the globe. Spinal cord injuries in persons aged over 65 years have increased from 88 per million in 2009 to over 155 per million in 2017 globally. The growing rate of spinal cord injuries, resulting in disability and mobility issues across the globe has been playing an important role in driving demand for wheelchairs. Hence, with growing age, the demand for wheelchair increases.
Global Wheel Chair Market Regional Analysis
North America is dominating the global Wheel Chair market with highest market size in 2018 and estimated to hold the largest market share over the forecast period (2019-2026). The demand for wheelchairs is increasing in North America due to growing ageing population in the United States, which in turn, increases the prevalence of disability among major U.S. population groups and an increasing need for assistance and care. According to the U.S. Census Bureau, the U.S. population will continue to grow to an estimated 400 million by 2050. By 2030, the government estimates that more than 20% of the U.S. population will consist of individuals over the age of 65, a 50% increase compared to the population in 2010. The United States is the largest contributor to the growth of the wheelchair market in the North America region, for over 55 percent of the wheelchair market.
Global Wheel Chair Market Company Trends
The market is highly fragmented in nature with some of the players including Invacare Corp., Panthera X, 21st Century Scientific Inc., OttBock Healthcare GmbH, Pride Mobility Products Corp., Permobil AB, Handicare, Sunrise Medical, Hoveround Corp., and Meyra Wilhelm Meyer GmbH & Co. KG. The key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches along with an increased focus on R&D are other ways the leading players improve their market presence.
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Table of contents overview -
1. Global Wheel Chair Market Methodology and Scope
2. Global Wheel Chair Market – Market Definition and Overview
3. Global Wheel Chair Market – Executive Summary
4. Global Wheel Chair Market – Market Dynamics
5. Global Wheel Chair Market – Industry Analysis
6. Global Wheel Chair Market – By Type
7. Global Wheel Chair Market – By Category
8. Global Wheel Chair Market – By Component
9. Global Wheel Chair Market – By Function
10. Global Wheel Chair Market – By End-User
11. Global Wheel Chair Market – By Region
12. Global Wheel Chair Market – Competitive Landscape
14. Global Wheel Chair Market – Premium Insights
15. Global Wheel Chair Market – DataM
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