Wheelchair Market Prediction, Strategies, Trends and SWOT Analysis 2024

Posted by Vinit on January 19th, 2021

Market Drivers and Restraints

Various factors are adding to the global wheelchair market growth. Such factors, according to the new MRFR report, include the rising popularity of Paralympic games, the increasing geriatric population, and the rising handicapped population which needs wheelchair support. Besides, advances in wheelchair technology like electric wheelchairs and also wheelchairs that can store the medical history of the patient along with the ability to monitor the health of the patient and making distress calls during emergencies is also adding market growth.

Market Analysis

The global wheelchair market size is likely to touch USD 9,554.07 million at a 2.80% CAGR between 2019- 2024, according to the recent wheelchair market statistics by Market Research Future (MRFR). Wheelchairs, simply put, are medical devices used by people not capable of walking owing to injury, illness, or disability, moving from one place to another.

Key Players

Notable players profiled in the global wheelchair market report include Pride Mobility Products Corp. (US), Invacare Corporation (US), Medline Industries, Inc. (US), Quantum Rehab (US), Karman Healthcare, Inc. (US), GF Health Products, Inc. (US), Drive Medical (US), Levo AG (Switzerland), and Ottobock (Germany).

Regional Analysis

Based on the region, the wheelchair market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the Americas will have a major share in the market over the forecast period. Factors boosting the wheelchair market in the region include increasing aging population in Canada & the US, growing prevalence of chronic diseases, and the presence of key market players in the region. This region is predicted to grow at a 2.24% CAGR by 2024. Additional factors adding market growth in the region include an increase in the geriatric population and a rising number of people affected by mobility impairment disorders.