Wheelchair and Components Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The worldwide revenue from the wheelchair and components market has reached US$ 12.4 billion in 2024, leading to an estimated valuation of US$ 17 billion by the end of 2031.
Factors Driving Market Growth:
• Rising Ageing Population and Increasing Quality of Life: The global elderly population is increasing, driving the demand for wheelchairs. Healthcare spending to enhance the quality of life for the elderly is also rising, further boosting the wheelchair market.
• Innovations in Electric Wheelchairs: Electric wheelchairs are witnessing innovations such as smart device integration, medical history recording, emergency distress call alerts, and enhanced design, increasing user independence and mobility.
Market Progress Challenges:
• Product Recalls and High Cost of Power Wheelchairs: Technical issues and flaws in powered wheelchairs occasionally lead to product recalls. Additionally, the high cost of power wheelchairs can restrain market growth.
Country-wise Insights:
• Booming U.S. Market: The United States has a developed healthcare infrastructure, a significant number of industry participants, and the emergence of small businesses offering customized wheelchairs, contributing to market growth.
• Prominent Chinese Market: China experiences a high rate of road accidents, resulting in injuries and disabilities. It has a thriving medical device industry offering affordable products, making it a desirable market in Asia. The nation's wheelchair manufacturers and component suppliers are expected to grow significantly.
• Lucrative Indian Market: India, with a high incidence of traffic accidents and a large disabled population, is poised for increased wheelchair demand. Government initiatives and growing consumer awareness are expected to drive market growth.
Competitive Landscape: Leading players in the wheelchair and components market are focusing on regional acquisitions, with a notable presence in Europe, Latin America, and Asian countries. These acquisitions aim to maintain competitiveness and strengthen product pipelines.
Key Companies Profiled:
• Invacare Corporation
• Sunrise Medical Inc.
• Permobil AB
• Ottobock Healthcare GmbH
• 21st Century Scientific Inc.
• Meyra Wilhelm Meyer GmbH & Co. KG
• Pride Mobility Products Corp.
• Hoveround Corp.
• Panthera AB
• Tetra Equipment
• Custom Engineered Wheels
• The Wheelchair Place, LLC
• Alber (Frank Mobility)
• Intelliwheels
• LEVO AG
• SEGWAY INC.
• Carex Health Brands, Inc.
• Drive Medical Design & Manufacturing
• Karman Healthcare
• Graham-Field Health Products Inc.
• Numotion
Key Segments of the Wheelchair and Components Industry Research
By Product:
• Wheelchair
Manual Wheelchairs
Powered Wheelchairs
Powered Scooters
• Wheelchair Components
Hand Rims & Wheel Rims
Frames
Other Components
By Modality:
• Standard Transport Wheel Chairs
• Self-Propelled Wheel Chairs
• Sports Wheel Chairs
• Standing Wheel Chairs
• Recliners Wheel Chairs
• Bariatric Wheel Chairs
• Light-weight Wheel Chairs
By Distribution Channel:
• Institutional Sales
Hospitals
Ambulatory Surgical Centres
Emergency Medical Services
Clinics
Long Term Care Centres
Skilled Nursing Facilities
Others (Airports/Railway Station/Hyper Market & Super Market)
• Retail Sales
Retail Pharmacy Chains
Retail Medical Device Stores
Online Sales
By Region:
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa
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