The global Wheelchair Market size is expected to reach USD 8.41 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.2% from 2022-2030. The rising demand for mobility assistance and the geriatric population is expected to drive market growth. As per the Americans with Disabilities Act, a wheelchair is designed mainly for use by an individual with a physical disability. Wheelchairs can be used for both indoor and outdoor purposes. An increase in life span and the number of elderly persons at a global level is one of the key reasons expected to contribute to the growth of the market.
The
market is disrupted due to the COVID-19 pandemic which affected the market due
to the restrictions and lockdown imposed by the government as a result, the
demand and sale of the product decreases. The demand for a wheelchair is
expected to increase due to the rising geriatric population and mobility issues
that occurred to the people during the pandemic. Although the number of
hospital visits by regular patients had reduced during the lockdown, the number
of patients affected with COVID-19 witnessed a spike. With the ease of
lockdowns, the manufacturing operation of the mobility device is expected to
come back to normal.
The
rise in the number of disorders requiring an assistive device is also one of
the key factors expected to contribute to market growth. The most common
disability that needs a mobility device is spinal cord injuries. As per the
National Spinal Cord Injury Statistical Center, around 294,000 people currently
living with spinal cord injuries, in the U.S. with 17,7300 new cases each year.
Thus, the U.S. is expected to be a major potential market for the supplier and
manufacturers of mobile devices over the forecast period.
Related Press
Release@ Wheelchair
Market Report
Wheelchair Market Report Highlights
- Electric
wheelchairs emerged as the largest product segment in 2021 as these
devices are mostly used in home-care settings for a comfortable movement
- The adult
segment accounted for the highest revenue in 2021 owing to the high
geriatric population and increased cases of disabilities, such as spinal
cord injuries, requiring a mobility device
- The hospital
application segment is estimated to register the fastest CAGR over the
forecast period owing to the rising volume of medical emergencies
- North America
dominated the market in 2021 with a revenue share due to the high target
population and increased adoption of advanced technology in wheelchairs
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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