Covina, June 21, 2022 (GLOBE NEWSWIRE) -- Wheelchairs help people travel from one location to another those who are physically incapacitated, either permanently or temporarily, and this is likely to boost market growth. The wheelchair is one of the most widely used assistive devices for enhancing and facilitating personal mobility, which is a prerequisite for exercising human rights and living in dignity, and for assisting people with mobility disabilities to become more productive members of their communities. A wheelchair that satisfies the physical, lifestyle, and environmental needs of persons who have difficulty walking is a crucial instrument for them to enjoy dramatically enhanced health, social, and economic well-being. Some of the main drivers propelling the market are the rising elderly population and the increase in conditions like spinal cord injuries that require assistance with mobility. About 17,730 new spinal cord injuries occur in the United States each year, with auto accidents being the main source of injury, according to the National Spinal Cord Injury Statistical Center (NSCISC). So, the U.S. represents a significant market for wheelchairs.
Region Analysis:
North America dominates the world market of wheelchair in 2020. The large target population and rising use of cutting-edge wheelchairs are reason for this expansion. Additionally, the region's abundance of market participants will help to accelerate market expansion throughout the course of the projection period. Many small businesses are developing customized wheelchairs to appeal to specific markets. For instance, a U.S. business called Segway, Inc. debuted an egg-shaped pod in January 2020 that enables people to sit while they easily go across airports, amusement parks, campuses, and even cities. This pod is accessible to those who require wheelchairs and is designed with high-end transportation in mind.
Key Highlights:
- In August 2021, WheelAir launches new rigid back integration service to support wheelchair users. The WheelAir System, which helps wheelchair users to regulate their own temperature and humidity, can be integrated or retrofitted into a rigid back in two weeks, the firm has confirmed.
- In November 2019, IIT Madras in collaboration with Phoenix Medical Systems launches India’s first indigenously-designed ‘Standing Wheelchair’ that enables a differently-abled person requiring a wheelchair to shift from sitting to standing position, and vice versa, independently and in a controlled manner.
- Leading wheelchair manufacturer Ottobock, with headquarters in Germany, had double-digit growth in the wheelchair market in 2019. However, the pandemic crisis significantly decreased its sales. Many other businesses encountered same difficulties. By the end of 2020, the business had begun to operate and was providing its clients with e-services like home delivery, video chats for e-appointments, and tips on social media.
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Key Market Insights from the report:
Global Wheelchair Market accounted for US$ 2.40 billion in 2020 and is estimated to be US$ 4.94 billion by 2030 and is anticipated to register a CAGR of 7.50%. The Global Wheelchair market is segmented based on the product type, weight, modality, end-user and region.
- By Product Type, the market is segmented into Manual Wheelchairs, and Electronic Wheelchairs.
- By Weight, the market is segmented into Light Weight Wheelchairs, and Heavy Weight Wheelchairs.
- By Modality, the market is segmented into Pediatric Powered Wheelchairs, and Adults Powered Wheelchairs.
- By End-user, the market is segmented into Hospitals, Clinics, Ambulatory Surgical Centers, and Home Care Settings.
- By Region, the Global wheelchair is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to account major market share as compared to that of other regions.
Competitive Landscape & their strategies of Wheelchair Market:
The key players operating in the global 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.
Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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