Global Wheel Chair Market is likely to exhibit a CAGR of 4.21% between 2018 and 2022 (forecast period).

The report covers the present scenario and the growth prospects of the global wheelchair market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The global wheelchair market is a key part of the global clinical mobility aids market. From a top-down perspective, Technavio has analyzed the global clinical mobility aids market as a parent market to set the context in which the global wheelchair market will be analyzed. The global clinical mobility aids market includes both low-end and high-end products. Low-end mobility aids include canes, walkers, and crutches. They are commonly used by the geriatric population. On the other hand, high-end mobility aids such as manual wheelchairs and powered wheelchairs are preferred in healthcare facilities to provide patients with the required mobility during their hospital stay.

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Growing global geriatric population is one of the primary growth stimulators of the market. Rising aging population is leading to increase in cases of lifestyle diseases such as arthritis, heart diseases, diabetes, and asthma. Despite improved life expectancy rates, drugs, and therapies due to advancements in medical science, the consequences of aging can be extreme for the physique. Elderly people are highly susceptible to chronic diseases, which can lead to mobility impairment. Rising incidence of obesity and spinal cord injuries can also provide a fillip to the market.

Mounting cases of medical emergencies are expected to stoke the growth of the wheelchair market over the forecast period. Outdoor and industrial accidents, natural disasters, and fire breakouts are among the leading factors causing medical emergencies. Their increasing number is impelling healthcare facilities to expand their stock of mobility products, operation theaters, and workforce in order to serve patients better.

Surging demand for electric wheelchairs is poised to shape the future of the market. This type of wheelchair is adjustable and durable, thereby offering ease of mobility and convenience. In addition, spiraling demand for advanced mobility products from the sports industry for organizing sports events such as wheelchair basketball and wheelchair racing for disabled persons can augment the market.

Innovations and advancements in wheelchairs are anticipated to trigger the growth of the market in coming years. For instance, in Jan 2018, Whill announced the launch of a new, lightweight, and stylish Model Ci electric wheelchair. The wheelchair operates on a lithium-ion battery, which allows it to travel 10 miles, with the help of a joystick-enabled navigation in the right armrest, on a single charge.

The global wheelchair market has been reviewed on the basis of product and geography. In terms of product, the market has been divided into powered wheelchairs and manual wheelchairs. Based on geography, the market has been segmented into Europe, Middle East, and Africa (EMEA), Americas, and Asia Pacific (APAC).

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Americas is anticipated to account for a substantial share in the market through 2022. Rapid technological advancements are promoting the adoption of sophisticated equipment in healthcare facilities in developed countries such as the U.S. and Canada. High disposable income of the populace is translating into the greater uptake of wheelchairs for home-based healthcare setup. Presence of a wide base of geriatric population is also expected to propel the regional market.

Asia Pacific is estimated to register a significant CAGR during the forecast period. Improving healthcare infrastructure and rising incidence of mobility disabilities are projected to supplement the growth of the market in APAC. Rising disposable income along with government subsidies on wheelchairs can benefit the regional market.

Some of the top players in the wheelchair market are Medical Depot, Sunrise Medical, Pride Mobility Products, NOVA Medical Products, and Invacare.

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