Wheelchair Market is anticipated to grow at a CAGR of 7.2% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Wheelchair Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global wheelchair marketaccounted for over US$ 2.4billion in 2019. It is anticipated to grow at a CAGR of 7.2% from 2020 to 2030.
The growth of the wheelchair market can be attributed to several factors such as increasing disposable income and the growing adoption of wheelchairs in healthcare units of emerging nations. Moreover, the growing incidents of chronic orthopedic diseases with easier accessibility of a wheelchair are anticipated to further contribute to the substantial growth of the global wheelchair market during the forecast period, 2020 to 2030.
The pace of population aging is escalating globally. According to the United Nation report, in 2017, the global population aging60 years and above was anticipatedat around 960 million.People ofthis age group have a high probability to develop orthopedic disorders and gait. They may find difficulty to walk andrequire support or assistance to move around.Wheelchair design involves the application of concepts to create manual or electrical propelled chairs for people who find walking difficult or impossible due to illness, injury, or disabilities.Wheelchairs enable them to move around independently regardless of severely diminished functional capabilities.
There are millions of cases of legs, feet, or back injuries every year due to accidents and falling. An individual with any disabilities or injuries may find difficult to maintain balance and isat a high risk of falling. With the help of a wheelchair, it becomes easy for themto roam around indoor and outdoor. Wheelchairscan also be used post-treatment recoveryand are frequently prescribed by doctors for improving mobility.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Wheelchair Market by Product (Manual Wheelchair and Powered Wheelchair), End User (Homecare Setting, Hospitals, Ambulatory Surgical Centers, and Rehabilitation Centers) - Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/wheelchair-market/321
However, the purchaseof such devices among middle and low-income countries is hampered by the non-availability of ramps in buses & trains for wheelchair users andproves to be a major restrain ingrowth of the global wheelchair market.
Asia Pacific is estimated to account for the highest CAGR in the wheelchair market during the forecast period. Increasing incidents of chronic orthopedic diseases, rising adoption of wheelchair and the increasing aging population areanticipated to present a lucrative growth scenario for the wheelchair market in this region. Furthermore, Asia has the highestnumber of geriatric populations.China has about 11%of its population and India has about6% of its population aging65 and above, which will help to boost the wheelchair market during the forecast period.
Some of the prominent players in the global wheelchair market are Medline Industries, Inc.,Invacare Corporation, Cardinal Health,Medical Depot.Inc.,Sunrise Medical (US) LLC,Carex Health Brands, Inc.,Pride Mobility Products Corporation, Karman Healthcare, Inc., and Numotion,among others.
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