Wheelchair Market

Market Overview

The global wheelchair market was valued at USD 5,070.15 million in 2021. It is projected to reach USD 9,104.019 million by 2030, growing at a CAGR of 6.72% during the forecast period (2022–2030).

Wheelchairs make it possible for those who are physically unable to move around, either permanently or temporarily, to get from one place to another. The wheelchair is one of the most popular assistive devices for improving and enabling personal mobility. It is an essential tool for their health and social and economic well-being. In addition, the National Spinal Cord Injury Statistical Center reported that about 17,730 new spinal cord injuries occur annually in the United States, with automobile accidents being the primary cause of injury.

Growing wheelchair technological breakthroughs and increased consumer awareness of these cutting-edge goods are expected to drive market expansion over the forecast period. Additionally, more product launches from manufacturers and hospitable reimbursement policies are anticipated to help the market's development throughout the forecast period. The increasing geriatric population and the number of spinal cord injuries necessitating mobility aid are among the primary factors driving market expansion.

Market Dynamics

Global Wheelchair Market Drivers

Growing Geriatric Population and Age-Related Issues

Aging generally results in decreased mobility, agility, and the capacity to maintain independent functioning. Over the forecast period, a growing aged population is most likely to increase demand for mobility products like wheelchairs. Additionally, people in this age group are more likely to fall, resulting in fatal or nonfatal injuries and mobility problems. By 2040, there will be 80 million Americans over 65, double the current number predicted by the Urban Institute. The prevalence of chronic conditions like diabetes, cardiovascular disease, arthritis, and other lifestyle disorders is predicted to rise, supporting market expansion.

The primary target market for wheelchairs and other personal mobility devices is the elderly. Over the forecast period, developing nations like India are anticipated to be significant sources of income for wheelchair manufacturers. The country has one of the highest traffic accidents in the world, which has left many people disabled. On an international scale, it also has one of the highest populations of disabled people, which will support market growth.

Increasing Demand for Home Healthcare Services and Staff

The trend toward portable care at home or the bedside is driving the development of next-generation therapeutic, diagnostic, display, and monitoring tools that is more flexible, accurate, and small. These systems are consumer-driven healthcare models that make it easier to use new things like personalized wearable devices, electronic patient records, and techniques that connect to the internet wirelessly. These technologies should make health care at home smarter, easier to use, and more convenient.

The main reason for the rise in portable medical devices and equipment is that the population is getting older and more people have chronic diseases and disabilities. These tools give them more freedom to move around at home. The increasing number of people working in home healthcare is another reason demand is growing quickly. Healthcare spending is expected to rise during the forecast period due to increasing disease prevalence and a growing geriatric population. In addition, home healthcare is a less costly alternative to expensive hospital care services and is expected to be a significant rendering driver over the forecast period.

Global Wheelchair Market Restraint

High Purchasing and Maintenance Costs

People with disabilities require walking equipment to help them with daily activities and to be a part of the community. It is one of the most basic needs of mobility-impaired people. However, mobility equipment is costly and accounts for most government and household expenses. The cost of these devices is rising in tandem with technological advancements. In addition, wheelchairs and rollators need servicing and maintenance because they are motorized and have braking systems.

The increasing cost of wheelchairs is expected to limit the growth of the personal mobility device market. Manual wheelchairs are perceived as low-end premium products priced relatively higher among clinical mobility products. The price difference between manual and powered wheelchairs is significant due to differences in product features such as stability, power, balance, and smoothness, which can lead to an increased unit price of a powered wheelchair.

Segmental Analysis

The global wheelchair market is segmented by product, category, and application.

Based on product, the global market is bifurcated into manual wheelchairs and electric wheelchairs.

The electric wheelchair segment is the highest contributor to the market and is expected to grow at a CAGR of 6.87% during the forecast period. Different technological improvements are being made in electric wheelchairs, and this segment is anticipated to grow significantly over the next few years. This growth can be explained by the fact that electric or power chairs give people a lot of freedom, comfort, and the ability to travel without the help of a second person all the time. Most electric wheelchairs are made with good brakes to prevent them from accidentally rolling away. Most electric wheelchairs have a simple joystick that makes them easy to use. Modern wheelchairs have guide sensors, nonlinear processing circuits, pulse steering drives, and different ways to control them that make them easier to use and move smoothly.

Manual wheelchairs are the most prevalent type of mobility assistive device utilized by the disabled and elderly population. Self-propelled wheelchairs are propelled by the user or pushed by another person. In addition, there are three self-propelled wheelchairs: attendant-propelled, wheelbase, and self-propelled. There has been a boost in the use of self-propelled wheelchairs in sports due to their light weight and ability to provide the best mobility for various sports, including marathons, basketball, and tennis. In hospitals and airports, attendant-propelled manual wheelchairs are commonly used for patient transport. Manual wheelchairs are ideal for admitting, discharging, and transferring mobility-challenged patients. Globally, most key players, including Invacare, Sunrise Medical, and Numotion, manufacture and distribute manual wheelchairs.

Based on category, the global market is bifurcated into adult and pediatric.

The adult segment owns the highest market share and is expected to grow at a CAGR of 6.46% during the forecast period. Over the forecast period, the segment is expected to keep leading and is primarily caused by the growing elderly population worldwide, which is included in the definition of adults. The need for wheelchairs is increased in older people who are disabled from arthritis-related pain or stiffness in their knees, hips, ankles, or feet. The CDC estimates that 61 million (26%) adults in the U.S. have a disability, of which mobility-related impairments account for 13.7% of all disabilities. The most prevalent type of functional disability in the United States adult population is mobility impairment.

The pediatric group consists of people younger than 18 years old. The number of people with disabilities in this group is lower than the number of adults with disabilities in the country as a whole. The pediatric segment is also expected to grow significantly because more and more kids are getting diseases like cerebral palsy. One of the most common disorders for which wheelchairs are needed is cerebral palsy. Pediatric wheelchairs with an adjustable frame are readily available from various manufacturers, including Sunrise Medical, Sermax Mobility, and Invacare. The addition of this function is anticipated to increase segment revenues.

Based on application, the global market is bifurcated into home care, hospitals, ambulatory surgical centers, and rehabilitation centers.

The rehabilitation centers segment is the highest contributor to the market and is expected to grow at a CAGR of 6.28% during the forecast period. If a person is recovering from an operation or an injury, mobility devices, such as wheelchairs, can be used as a rehabilitation program. With assisted/unassisted walking, the process gradually progresses toward independence. A rehabilitation facility can assist patients in evaluating their indoor and outdoor mobility. Innovative assistive technology and mobility aids can help them regain their mobility. This growth is attributable to the rise in wheelchair-required medical emergencies. Large-scale medical facilities use these chairs primarily to transport patients and visit the doctor's office.

Global adoption of home care is increasing primarily due to the aging population. The aging of the baby boomer generation is increasing the demand for home health services. According to everyday health, 90 percent of Americans older than 65 prefer receiving care at home. In addition to an aging population, the rising cost of healthcare services worldwide is a significant market driver. The healthcare industry is highly fragmented, from billing to care delivery. Many companies make light, foldable wheelchairs that Medicare Part B will pay for up to 80% of the cost. So, the home care segment of the wheelchair market is expected to grow over the forecast period.

Regional Analysis

The global wheelchair market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant shareholder in the global wheelchair market and is expected to grow at a CAGR of 6.48% during the forecast period. This expansion is due to a large target population and increased adoption of advanced wheelchairs. Furthermore, the presence of many market participants in the region will boost market growth during the forecast period. Improvements in government-implemented funding mechanisms to assist patients in need of long-term care are also expected to support market growth. The government of the United States has launched numerous programs to help individuals living with disabilities, which will propel market growth.

Europe is expected to grow at a CAGR of 6.32% during the forecast period. The growing aged population and an increase in the number of disorders requiring mobility support, such as spinal cord injuries, are driving the European market. The European market for wheelchair availability and acceptance is still in its early stages; however, with growing consumer awareness and supportive government policies, demand for wheelchairs is expected to rise in the coming years. Germany is one of the world's super-aged societies, with the number of people aged 65 and up expected to account for roughly one-third of the total population by 2050. Germany is a pioneer in leveraging digital technology to support a healthier and more active older population. The government has established initiatives to help older people learn basic technology skills.

The Asia-Pacific region's growing population of physically challenged and older people are driving up demand for wheelchairs. Furthermore, the region's wheelchair market is driven by the rising chronic diseases and traffic accidents. It is assessed that roughly one-third of the population in East and North Asia will be 60 or older, compared to one in every four people in North and Central Asia. Manual wheelchairs are the most popular type of wheelchair in the Asia-Pacific due to their low cost, easy rental availability, and low maintenance.

LAMEA is made up of countries from Latin America, the Middle East, and Africa. Growing life expectancy and awareness of home healthcare services, rising disability prevalence, and rising demand for medical devices for long-term care are all expected to drive the wheelchair market. The large population can present significant opportunities for market participants. The country's rising healthcare spending is expected to boost the market over the forecast period.

Recent Developments

• September 2022- Graham-Field invested millions into a sophisticated 3D Fiber Optic Laser Tube Cutting System. This next-generation system will supplement graham-current Field's laser cutting equipment.
• July 2022- Sunrise Medical announced the release of the QUICKIE ACCESS, a knee-pivot manual wheelchair with tilt and recline that can be used independently.

Wheelchair Market Segmentation

By Product

• Manual Wheelchair
• Electric Wheelchair

By Category

• Adult
• Pediatric

By Applications

• Homecare
• Hospitals
• Ambulatory Surgical Centers
• Rehabilitation Centers

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA