Wheelchair Market projected to reach US$ 6,459.07 million by 2028 | Top companies like OTTOBOCK, MEYRA, Sunrise Medical, Smile Smart Technology, LEVO AG, HOVEROUND

The scope of the wheelchair market includes product, type, end user, applications, usage, distribution channel, and region. The market for wheelchair is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the wheelchair market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.

The Wheelchair Market was valued at US$ 4,073.71 million in 2021 and is projected to reach US$ 6,459.07 million by 2028; it is expected to grow at a CAGR of 6.8% from 2021 to 2028.

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Company Profiles

Invacare Corporation
Medline Industries, Inc.
OTTOBOCK
MEYRA GMBH
KARMAN HEALTHCARE, INC
Sunrise Medical
HOVEROUND CORPORATION
LEVO AG
Permobil
Smile Smart Technology

Patients use wheelchairs when walking is impossible for them due to injury, illness, or disability. There are different types of wheelchairs available in the market, depending on the patient's requirement. There is a wide range of wheelchairs available differing by mechanisms of control, propulsion method, and technology used. There has been a significant effort in the last decade to develop a wheelchair with innovative features.

COVID-19 pandemic has become the most significant challenge across the world. This challenge will be frightening especially in developing countries across the world as it will lead to reducing imports due to disruptions in global trade. The COVID-19 pandemic affected the pharmaceutical, medical device, R & D, and other businesses across the world. Wheelchair devices are essential medical devices in several mobility conditions. As the rise of the pandemic crisis was uncertain, there is shortage in supply of wheelchairs and consumables. However, market players are adopting various strategies to increase its distribution of wheelchairs. For instance, according to British Red Cross, in 2020, the organization provided wheelchair service to around 140 communities across the UK. Also, the organization supplied around 50,000 wheelchairs for patients with permanent as well as temporary mobility conditions.

As per the United Nations World Population Ageing Report, the global population of people with age 60 and above reached 962 million in 2017 from ~382 million in 1980, with more than two-times increase. The report also mentions that number of elderly people is further expected to double by 2050 to reach ~2.1 billion. As per the US Census Bureau, there were 54 million US residents with age 65 and above in the July 2019. Further, the Urban Institute estimated that number of US population belonging to this age group would reach 80 million by 2040. Similarly, as per the Population Census 2011, in India, ~104 million Indians were with age 60 or above, comprising ~53 million females and ~51 million males. According to a report by the United Nations Population Fund and HelpAge, elderly population in India is estimated to grow to 173 million by 2026.

Based on type, the wheelchair market is segmented into front wheel drive, center wheel drive, rear wheel drive, and standing electric wheelchair. The center wheel drive segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. Growth of this segment is attributed to advantages offered by center wheel drive such as easy navigation through doorways and narrow spaces, and superior stability.

Based on end user, the wheelchair market is segmented into homecare, hospitals and clinics, rehabilitation centers, and ambulatory surgical centers. The rehabilitation centers segment held the largest share of the market in 2021 and is estimated to register the highest CAGR in the market during the forecast period. Growth of this segment is attributed to increasing number of rehabilitation centers coupled with rising number of musculoskeletal conditions.

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