Wheelchairs Market is expected to reach US$ 7.9 Billion by 2032 | FMI

 The global Wheelchairs Market is expected to be worth US$ 5.7 billion by the end of 2022, and to grow at a CAGR of 3.2% to be worth US$ 7.9 billion by the end of 2032. According to a recent study by Future Market Insights, manual wheelchairs will account for approximately 70.5% of the global market in 2021.

Utilizing the skills and resources of the public, private, and nonprofit sectors is essential to fostering innovation and removing obstacles to accessibility and affordability for assistive technology (AT). For people to become more economically and civically engaged and to avoid adverse health effects, access to an appropriate wheelchair is essential.

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A wheelchair is considered appropriate if it: satisfies the user's demands and environmental requirements; offers a proper fit with ergonomic adjustment; is safe and reliable; is readily available in the nation; and can be obtained, maintained, and provided with services in the nation at a reasonable price. The usage of a appropriate wheelchair improves users' mobility and flexibility, which is a requirement for active involvement in civic, professional, and educational activities.

Wheelchairs are among the most widely used assistive devices. Those who require wheelchairs have mobility limits and may include individuals with congenital abnormality, people with developmental and neurological problems (such as cerebral palsy or muscular dystrophy), people with a spinal cord injury, and people with musculoskeletal conditions (lower limb amputation), people living with physical handicap caused by polio or non-communicable diseases (NCDs) such as diabetes or stroke, and older people.

The Disability chairs market is expected to grow as demand is created and consolidated around the best products in terms of effectiveness, features, quality, and cost. Additionally, in order to lower production costs and promote the adoption of strict quality standards, manufacturers and suppliers must collaborate in order to shape the global wheelchairs market for greater revenue sales.

Key Takeaways from Market Study

• Manual wheelchairs are the leading segment as product, and hold approximately 5% market share in 2021, owing to their adoption by people with mobility issues, who do not suffer from chronic conditions.
• Lightweight wheelchair segment is set to lead in terms of function for wheelchairs with a projected market share of around 0% by 2032, owing to the ease of its use.
• Institutional sales accounted for around 2% of the global wheelchairs market, by distribution channel, in 2021, owed to the high adoption of treatment within institutional settings.
• North America is considered as the leading region with a global share of 4% in 2021, owed to the large number of available distributors for wheelchairs in the region.

“Mobility issues associated with ageing are likely to affect older generations, which is predicted to raise demand for wheelchairs and fuel market expansion for wheelchairs over the forecast period,” says an analyst of Future Market Insights.

Handicapped chairs can be used by people with a wide range of disabilities or conditions, including spinal cord injuries, cerebral palsy, multiple sclerosis, and muscular dystrophy. They can improve mobility and independence, allowing users to perform daily tasks and engage in activities they might not be able to do otherwise.

Market Competition

The market for wheelchairs is highly fragmented, and there exists a number of competitors within the market sphere. Several local producers exist in low and middle-income nations, owing to favorable government regulations, incentives to manufacture locally, and the belief that wheelchairs are a low-tech product.

• Invacare Corporation announced the release of a new, slimmer version of the Invacare® AVIVA® STORM RXTM rear wheel drive power wheelchair in January 2022.
• Sunrise Medical announced the introduction of two new electric wheelchairs in January 2022 for both its adult QUICKIE and pediatric ZIPPIE lines.

Key Companies Profiled:

• Invacare Corporation
• Sunrise Medical
• Permobil
• Pride Mobility Products Corp.
• 21st Century SCIENTIFIC Inc.
• Hoveround Corporation
• Panthera AB
• Ottobock
• Meyra GmbH
• Handi-Care Intl.
• Others

Key Market Segments Covered in Wheelchairs Industry Research

By Product:

• Manual Wheelchairs
• Powered Wheelchairs

By Function:

• Standard Transport WheelChair
• Self-Propelled Wheel Chair
• Sports Wheel Chairs
• Standing Wheel Chairs
• Recliners Wheel Chairs
• Bariatric Wheel Chairs
• Light-weight Wheel Chairs

By Distribution Channel:

• Institutional Sales
• Retail Sales