New York, US, June 24, 2021 (GLOBE NEWSWIRE) -- Wheelchair Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Wheelchair Market Information by Product Type, End-User, and Region - Forecast till 2028” the market is forecasted to reach USD 4.8 Billion by 2028 at 7.9% CAGR.
Rise in Paralympic Games to Favor Wheelchair Market
The rise in number of cases of walking disabilities can contribute to the rise of the wheelchairs chair market. The expansion of geriatric popsulation and the increase in need for wheelchair solutions among them due to mobility restrains can boost sales, which can promote the market. The growing popularity of Paralympic games can add to the wheelchair market upsurge. However, issues with cost of electric wheelchair products can hinder market upsurge.
Modern Designs of Wheelchair to Offer Greater Convivence
Latest designs of wheelchair system are highly user friendly, especially for paralysis stroke people. The increase in adoption of modern wheelchairs by the growing number of stroke paralysis cases. Companies are investing in models and upgradation of existing type of wheelchairs to increases mobility with high maneuverability that can aid physically different people to live independently. Moreover, an increase in employment of physically different people can boost purchase of wheelchairs, thus can support the wheelchair market expansion in the study period.
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COVID Impact Analysis
The COVID-19 outbreak had significantly influenced the transport and mobility sector. The disruption in supply channel of wheelchair is observed to a greater extent. Strict lockdowns are observed to add to the decline in sale of wheelchairs. However, the measures are developed by wheelchair dealers to bolster the market to surge in the years ahead.
Market Key Players:
An in-depth study of the wheelchair market players recorded in the report are:
- Medical (US)
- Quantum Rehab (US)
- Ottobock (Germany)
- GF Health Products
- Pride Mobility Products Corp.
- Karman Healthcare
- Levo AG (Switzerland)
- Medline Industries
- Sunrise Medical
- Invacare Corporation (US)
The report reveals market size estimates in terms of value and volume. Analysis about trends is done by segment study of the market with a bottoms-up approach. The regional assessment of the wheelchair market aids investors understand the untapped potential of the market that are spread across the globe. Growth scopes of the wheelchair market in different regions are mentioned as strategically analyzed by MRFR players. Detailed understanding of new product development, M&A, and the competitive landscape of worldwide wheelchair market can assist investors design plans that offer high value-returns.
Browse In-depth Market Research Report (145 Pages) on Wheelchairs: https://www.marketresearchfuture.com/reports/wheelchair-market-8405
Segment Analysis
Segment insights of the wheelchair market offer by the report can assist stakeholder plan their strategies that can yield high returns.
Rear-Wheel Drive Chair to Gain Traction
The segment study of the global wheelchair market is based on product type, and end-user. The product-type based segments of the wheelchair market are electric wheelchair, accessories, and manual wheelchair. The electric wheelchair segment studies about center wheel drive chai, rear-wheel drive chair, and front-wheel drive chair. The manual wheelchair segment consists of ultra-lightweight wheelchairs, standard manual wheelchairs, light and bariatric wheelchairs, and sport wheelchairs. The electric wheelchair segment can acquire about 47.14% of the market share by 2023.
Increase in Sales of Armrest Accessories to Earn Profit
The accessories-based segments of the wheelchair market are postural support accessories, wheelchair ramps, armrest accessories, batteries & chargers, and wheelchair trays. The rise in sales of wheelchair ramps and increase in cases of medical conditions that require postural support accessories can favor the market. The batteries and charger segment can surge at decent CAGR in the review period.
Home Care Setting Segment to Lead
The end-user-based segments of the wheelchair market are hospitals and clinics, and home care settings. The growing installation of home care settings due to rise in preference for domiciliary care can rise at decent pace in the years to come. The home care settings segment can surge at 2.90% CAGR in the review period. The hospital and clinics segment can exhibit considerable CAGR.
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Regional Analysis
Investor refers to the regional progress of the wheelchair market that spans across the Americas, the Middle East and Africa, Europe, and Asia Pacific, to understand the growth potential of the market in these regions.
Americas Set to Introduce High Profit Generating Innovations
MRFR analysis reveals that the Americas can hold the largest market share of the worldwide market. The existence of key marketers, rise in prevalence of chronic disease, and surge in geriatric populace and contribute to the rise of the wheelchair market in the region.
The UK to Earn Substantial Revenue for EU
In Europe, the wheelchair market can register considerable CAGR by 2023. The expansion of the elderly population and rise in utility of wheelchair products can contribute to the regional wheel chair market rise. The availability of technologies to develop effective wheelchair solutions that offer greater comfort and facilities can have a positive impact on the UK market, which, in turn, can favor Europe wheelchair market.
Effective Government Aid for Special Children to Promote APAC
In Asia Pacific, the rise of wheelchair market can be contributed to the expansion of geriatric population and escalation in the number of hospitals. The establishment of new government hospitals in both rural and urban areas and the easy availability of government assistance for special children can influence the expansion of APAC wheelchair market.
MEA Wheelchair Market to Exhibit Moderate Pace
In the Middle East and Africa, the wheelchair market is expected to thrive at considerable pace as there is limited access to treatment facilities. The prevalence of socio-economic backwardness can add to the slow-paced expansion of the wheelchair market in the study period. However, developments in healthcare infrastructure to support favorable patient solutions in the MEA region can contribute significantly to the rise of the regional wheelchair market in the near future.
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