Manual Wheelchair Market Expected to Reach $4,099.1 Million by 2025 | Key Players Etac AB, Gf Health Products, Invacare Corporation, Karma Medical Products Co, Medical Depot
Increase in geriatric population is one of the primary factors that fuels the manual wheelchair market growth in the coming years. The number of people above the age of 60 have experienced threefold growth in the recent years and this is expected to increase in the coming years as well. Elderly people are more prone to chronic diseases such as cardiac diseases, hypertension, and mobility impairment. Moreover, they are also susceptible to arthritis that limits mobility. As a result, the demand for wheelchairs from the geriatric population is expected to increase extensively in the coming years, thus driving the manual wheelchair market growth.
Other factors such as rise in spinal cord injuries, rise in incidence of disabilities, and accidents coupled with growth in government expenditure on healthcare are expected to open new avenues for the manual wheelchair market players in the future. However, inclination of consumer toward electric and automated wheelchairs hinder the growth of the manual wheelchair market. Emerging trends that have a direct impact on the dynamics of the wheelchair industry, include improved wheelchair efficiency to provide more comfort and convenience, increase in adoption of power assistance device, and rise in adoption of hybrid concept in wheelchair. In addition, greater strength and durability of material along with less moving parts have considerably reduced the maintenance cost that leads to increased adoption of adult wheel chair. Thus, recent advancements in material and engineering design of manual wheelchair are expected to drive the growth of the wheelchair market during the forecast period.
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Key Findings of the Manual Wheelchair Market:
• Based on category, the adult wheelchair segment accounted for around 63% in the manual wheelchair market share in 2017, growing at a CAGR of 6.1% from 2018 to 2025.
• The pediatric wheelchair segment accounted for around 37% market share, growing at a CAGR of 6.3% from 2018 to 2025.
• Based on design & function, the basic wheelchair segment accounted for 48% of the market share in 2017 and is expected to growth at the highest CAGR of 6.4%.
• Based on end user, the homecare wheelchair segment occupied around 21% of the market share and is expected to grow at the highest CAGR of 6.4%.
• Based on region, North America accounted for a prominent market share in 2017 and is anticipated to grow at a CAGR of 5.3% throughout the forecast period.
North America and Europe, together accounted for about 63.4% of the total global manual wheelchair market in 2018, with the former constituting around 33.4%. From a growth perspective, Asia-Pacific and LAMEA are the two potential markets, expected to witness growth during the forecast period. At present, these two segments account for 36.6% of the manual wheelchair market share.
Some of the key players analyzed in the manual wheelchair industry are Etac AB, Gf Health Products, Inc., Invacare Corporation, Karma Medical Products Co., Ltd., Medical Depot, Inc. (Drive DeVilbiss Healthcare), Medline Industries, Inc., Meyra Group, NOVA Medical Products, Panthera AB, and Sunrise Medical (US) LLC.
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