Wheelchair Market See Huge Growth & Profitable Business During the Forecast Period 2022-2028

Wheelchair Market for Pushable Coil Segment to Grow at Highest CAGR during 2021-2028

NEW YORK, UNITED STATES, March 9, 2022 /EINPresswire.com/ -- According to The Insight Partners new market research study on “Wheelchair Market to 2028 – Global Analysis and Forecast – by product, type, end user, applications, usage, and distribution channel,” the market is expected to reach US$ 6,459.07 million by 2028 from US$ 4,073.71 million in 2021. The market is estimated to grow with a CAGR of 6.8 % from 2021 to 2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.

Surging incidence of disorders requiring mobility assistance and significantly rising population of geriatric people across the world driving the Wheelchair Market. Factors such as surging incidence of disorders requiring mobility assistance and significantly rising population of geriatric people across the world are expected to boost the growth of the global wheelchair market. However, the market is likely to get impacted by the operational difficulties associated with wheelchairs and high cost of powered wheelchairs during the forecast period.

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Wheelchair Market: Competitive Landscape and Key Developments

Invacare Corporation, Medline Industries, Inc.; Ottobock, Meyra Gmbh; Karman Healthcare, Inc.; Sunrise Medical; Hoveround Corporation; Levo Ag; Permobil; and Smile Smart Technology are among the leading companies operating in the wheelchair market.

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.

People suffering from disorders such as spinal cord injury, paralysis, and arthritis require wheelchair for mobility. Thus, increasing prevalence of these diseases is propelling the demand for wheelchairs. As per the WHO, every year, 250,000–500,000 people in the world suffer spinal cord injuries (SCIs). As per the 2020 SCI Data Sheet from the National SCI Statistical Center (NSCISC), ~17,810 new spinal cord injuries occur each year in the US; vehicle crashes, falls, violence, and sports activities are among the most common causes of spinal cord injuries in the country. As per an annual statement of the NHS Specialized Spinal Cord Injury Services for 2017–2018, ~2429 new patients were referred to eight specialist centers in England, which led to 864 new admissions. As per the Christopher & Dana Reeve Foundation, in 2013, ~1.7% of the US population, i.e., ~5,357,970 (~5.4 million) people were living with some form of paralysis, which is a disorder caused by problems in central nervous systems, resulting in difficulty or inability to move the upper or lower extremities. According to the Centers for Disease Control and Prevention (CDC), ~24 million adults have limited their activities due to arthritis, and more than 1 in 4 adults with arthritis report severe joint pain.

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Thus, increasing prevalence of disorders requiring mobility assistance is creating high demand for wheelchairs. 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 globe. 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

Based on Product, the wheelchair market is segmented into powered/electric wheelchair, smart wheelchair, and manual. The manual wheelchair segment held the largest share of the market in 2021, whereas the powered/electric wheelchair segment is anticipated to register the highest CAGR in the market during the forecast period.

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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Browse Adjoining Reports & Get Sample PDF Copy

Active Wheelchair Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Manual Wheelchairs, Power Wheelchairs); Indication (Alzheimer's Disease, Amyotrophic Lateral Sclerosis (ALS), Multiple Sclerosis, Diabetes, Cerebral Palsy, Muscular Dystrophy)
https://www.theinsightpartners.com/sample/TIPRE00015769/?utm_source=EinPressWire&utm_medium=10144

Intelligent Wheelchair Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Pediatric and Bariatric Wheelchairs, Rollators, and Mobility Scooters); End Use (Hospital Use, Home Use, and Others), and Geography
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Wheelchair Cushions Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Air Cushion, Gel Cushion, Foam Cushion, and Others); End Use (Hospitals, and Recuperation Mechanism, Family Expenses, Others), and Geography
https://www.theinsightpartners.com/sample/TIPRE00022891/?utm_source=EinPressWire&utm_medium=10144

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Sameer Joshi
The Insight Partners
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Wheelchair Market by Type | Front Wheel Drive | Center Wheel Drive | Rear Wheel Drive