Global Wheelchairs Market Positive Long-Term Growth Outlook 2018-2026
The Global Wheelchairs Market was valued at US$ 4,390.4 million in 2016 and is expected to witness a robust CAGR of 15% during the forecast period (2017-2025). Wheelchairs are primarily designed for disable individuals for the ease of indoor and outdoor locomotion purpose.
The Global Wheelchairs Market was valued at US$ 4,390.4 million in 2016 and is expected to witness a robust CAGR of 15% during the forecast period (2017-2025). Wheelchairs are primarily designed for disable individuals for the ease of indoor and outdoor locomotion purpose.
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As per Disabled World Journal Report 2013, around 6.8 million people in the U.S. required assistive<br />
device for mobility, out of which around 1.7 million people used wheelchairs for mobility purposes.<br />
Furthermore, as per Centers for Disease Control and Prevention (CDC), national public health institute<br />
of the United States reports 2015, 1.9 million people in the U.S. were living with limb loss due to<br />
diabetes, vascular diseases, infection, trauma, and cancer. These factors in turn create a highly<br />
conducive environment for growth of the wheelchairs market.<br />
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<strong>Market</strong> Dynamics<br />
The wheelchair market growth is expected to gain traction in the near future, as a result of rise in<br />
geriatric population and lower limb amputation cases due to various impairment such as diabetes and<br />
vascular diseases at constant rate. According to Centers of Disease Control and Prevention 2014 report<br />
(CDC), in the U.S., around 30.0 million people were diagnosed with diabetes and around 8.0 million<br />
people are living with undiagnosed diabetes.<br />
Additionally, according to European Journal Aerzteblatt-international.de 2017 report, there were<br />
around 100,000 lower limb amputation caused by trauma, intoxication, musculoskeletal disease,<br />
diseases of the skin, and subcutaneous tissue or neoplasia that leads to the disability, which in turn is<br />
also expected to favor the wheelchair market in the near future.<br />
Rise in aging population is expected to favor the growth of wheelchair market<br />
North America accounts for the largest share in the global wheelchair market, followed by Europe and<br />
Asia Pacific. Mostly wheelchairs are used by elder people who are near to the age of 60’s and above.<br />
As per Population Reference Bureau 2016 report, in the U.S. around 46 million people of age 60 and<br />
above are estimated to use wheel chair, the number is expected to reach around 98 million by 2060<br />
supporting the share of North America for the wheelchairs market. Asia Pacific region is expected to<br />
show growth in wheel chair market, owing to increasing population in economies like China and India.<br />
Major investments in healthcare fuels the growth of wheelchairs market in this region. The wheelchairs