Use of wheelchair aids to reduce back pain and sores. The demand for manual wheelchairs is high for injured or disabled patients with high upper body strength. The demand for electric and solar-powered wheelchairs has increased in the recent past.
The global wheelchair and components market is estimated to account for US$ 5,739.7 Mn in terms of value by the end of 2027.
Global Wheelchair and Components Market: Drivers
Increasing geriatric population is expected to aid in growth of the global wheelchair and components market over the forecast period. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.
Global Wheelchair and Components Market: Opportunities
Increasing demand for lightweight & ultra-lightweight wheelchairs is expected to offer lucrative growth opportunities for players in the global wheelchair and components market. Use of lightweight wheelchairs can increase the range of distance and terrains. Moreover, such wheelchairs offer protection from the strains of regular wheelchair use.
Global Wheelchair and Components Market: Restraints
Lack of awareness and infrastructure, especially in emerging economies, such as broken pathways, non-availability of ramps in buses & trains for wheelchair users is expected to hamper growth of the global wheelchair and components market.
Key Takeaways:
The Continuous Fiber Composites segment in the global wheelchair and components market was valued at US$ 2,090.9 Mn in 2019 and is expected to reach US$ 2,928.6 Mn by 2027 at a CAGR of 4.1% during the forecast period. The growth of the segment is attributed to increasing technological innovation in material design during the forecast period.
The Hand Rims & Wheel Rims segment held dominant position in the global wheelchair and components market in 2019, accounting for 36.1% share in terms of value, followed by frames segment respectively. Increasing demand for lightweight & ultra-lightweight wheelchairs is expected to drive the segment growth during the forecasted period.
Market Trends
The use of carbon fiber material in production of wheelchairs is increasing currently. This is owing to several advantages offer by carbon fiber material such as more flexibility compared to both steel and aluminum and high shock resistance.
Market players are offering new products with adjustment features. For instance, Permobil offers the TiLite Pilot, a manual wheelchair for children with adjustment features.
Global Wheelchair and Components Market: Competitive Landscape
Major players operating in the global wheelchair and components market include:
Global Wheelchair and Components Market: Key Developments
Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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