Market Challenges And Opportunities

Manual Stair Climbing Wheelchair Market Drivers

The global manual stair climbing wheelchair market is expected to witness high growth owing to rising geriatric population and increasing lower limb amputation cases due to various diseases such as diabetes, vascular diseases, and osteoarthritis. Geriatric population is also prone to various chronic diseases, vertigo and dizziness, mental deterioration, and limited mobility. For instance, according to the American Community Survey (ACS) estimates, the overall rate of people with disabilities in the U.S. population in 2016 was 12.8%. Furthermore, according to 2017, Disability Statistics & Demographics report, the percentage of people with a disability in the U.S. slowly increased from 11.95% in 2010 to 12.8% in 2016.

According to World Population Prospects: 2017 report, in 2017, there were an estimated 962 million people aged 60 or above, globally, comprising 13% of the global population. The population aged 60 or above is growing at a rate of about 3% per year. In addition to this, according to the same source, Europe has the largest percentage of population aged 60 or over (25%). Furthermore, according to the Centers for Disease Control and Prevention (CDC), May 2017 data findings, there were 53 million adults in the U.S. suffering from any form of disability. Of this, 13% of adults shows mobility related disabilities, causing serious difficulty in walking or climbing stairs.

According to the International Population Reports, 2015 data findings, the number of geriatric population is projected to increase over 60% in just 15 years in 2030 and there will be about 1 billion geriatric people globally, which is equivalent to 12.0% of the total population. According to the Eurostat Statistics, in 2017, around one fifth (19%) of the Europe population was aged 65 and more. Moreover, the share of people aged 80 years or over is expected to double by 2080, to reach 13% of the entire population of Europe. Furthermore, according to the National Institute on Deafness and Other Communication Disorders (NIDCD)- 2014 data findings, 4% of adults (8 million) Americans reported a chronic problem with balance, and an additional 1.1% (2.4 million) reported a chronic problem with dizziness.

Moreover, ease of accessibility and low installation costs are supplementary key factors driving growth of manual stair climbing wheelchair market. Manual stair wheelchairs also costs low compared to wheelchair stair lift configuration. According to the Research Institute for Disabled Consumers, November 2017 data findings, average cost of straight stair lift ranges between US$ 3,370 to US$ 3640, while wheelchair climber costs around US$ 150-US$ 220.

However, increasing adoption of automated stair wheelchairs, owing to compact, easy handling, both indoor and outdoor mobility, and battery powered option, is expected to negatively affect growth of the global manual stair climbing wheelchair market size.