WHEELCHAIR AND COMPONENTS MARKET ANALYSIS

The global wheelchair and components market is estimated to be valued at US$ 4,097.7 million in 2023 and is expected to exhibit a CAGR of 3.4% during the forecast period (2023-2030). The increasing prevalence of spinal cord injuries and related disabilities are expected to drive the market growth over the forecast period. Furthermore, the rising number of people with walking disabilities is also expected to boost the global wheelchair and components market growth.

Analysts’ Views on the Global Wheelchair and Components Market:

The aging global population is fueling the prevalence of mobility-related disabilities and chronic conditions such as arthritis and cardiovascular diseases. This factor is driving the demand for wheelchairs and components as assistive devices to improve mobility and the quality of life of the elderly population. For instance, according to estimates by World Health Organization (WHO), in October 2022, one in six individuals on the planet will be 60 or older by 2030. By this point, there will be 1.4 billion people over the age of 60, up from 1 billion in 2020. The number of individuals 60 or older will double (to 2.1 billion) by 2050. Between 2020 and 2050, the number of people aged 80 or older is projected to treble, reaching 426 million.

Figure 1. Global Wheelchair and Components Market Share (%),By Technology, 2023

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Global Wheelchair and Components Market - Driver

Increasing spinal cord disorders and related disabilities

The wheelchair and components market is anticipated to grow as spinal cord injuries and associated disabilities become more common. According to National Spinal Cord Injury Statistical Center at University of Alabama at Birmingham (UAB), in 2020, there were approximately 291,000 people in the U.S. who experienced spinal cord injuries. Among them, about 39.5% were classified as paraplegic, meaning they had impaired function or paralysis in the lower extremities, while 59.9% were quadriplegic, indicating impaired function or paralysis in both the upper and lower extremities. Every year, around 17,730 new spinal cord injuries occur in the U.S. Out of these new cases, approximately 78% are males, indicating a higher incidence among men. Nearly half, or 47.6%, of all spinal cord injuries happen to individuals between the ages of 16 and 30, highlighting the higher risk during early adulthood. This is increasing the demand for wheelchairs and components, thus boosting the market growth.

Rising aging population

The aging of the world's population has increased the prevalence of chronic diseases like arthritis and cardiovascular diseases as well as mobility-related limitations. In order to help the elderly have better mobility and a higher quality of life, wheelchairs and their parts are in high demand. For instance, according to World Health Organization (WHO), in 2020, there were more people over the age of 60 than under five-year-olds. The percentage of people over 60 in the world is projected to increase from 12% to 22% between 2015 and 2050.

Figure 2. Global Wheelchair and Components Market Share (%), By Region, 2023

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Global Wheelchair and Components Market- Regional Analysis

North America held a dominant position in the global wheelchair and components market in 2022, accounting for 33.1% shares, followed by Asia Pacific. This growth is attributed to the high population and rising use of cutting-edge wheelchairs. Additionally, the region's abundance of market participants will accelerate market expansion throughout over the projected period.

For instance, in January 2020, Segway, Inc., a U.S. corporation, introduced a distinctive egg-shaped pod designed to facilitate comfortable seated transportation across various locations such as airports, amusement parks, campuses, and urban areas. This innovative pod offers the added benefit of wheelchair accessibility, accommodating individuals with mobility needs. It boasts a maximum speed of 24 mph, allowing for efficient and swift movement.

Global Wheelchair and Components Market - Impact of the Coronavirus (COVID-19) Pandemic

The pandemic boosted the demand for wheelchairs and components due to the higher number of individuals requiring mobility assistance. COVID-19 caused severe respiratory complications, leading to long-term impairments and disabilities. As a result, there has been an increased need for wheelchairs among COVID-19 survivors and individuals with post-COVID-19 complications.

The global supply chains of medical devices, including wheelchairs and components, have been disrupted due to the pandemic. Manufacturing facilities faced closures, reduced production capacity, and logistical challenges, leading to delays in production and distribution. This situation impacted the availability of wheelchairs and components in some regions like North America and Asia Pacific.

Moreover, the pandemic has impacted rehabilitation services, including physical therapy and occupational therapy, that play a crucial role in the provision and fitting of wheelchairs. Restricted access to healthcare facilities and reduced availability of therapy services have affected the timely assessment and provision of wheelchairs to individuals in need.

The evolution of technological breakthroughs in wheelchair designs is expected to drive market sales in the future, primarily due to the impact of the COVID-19 pandemic. The introduction of battery-operated electric wheelchairs is anticipated to assist users. Additionally, owing to design advancements, wheelchairs can now save, link to, and even monitor the health information as well as the medical history of users. For instance, Invacare Corporation, an American manufacturer and distributor of non-acute medical equipment  unveiled AVIVA FX Power Wheelchair in March 2020. It can be used both indoors and outdoors and is built using new technology to provide improved comfort.

Global Wheelchair and Components Market- Segmentation:

The global wheelchair and components market report is segmented into technology, components, application and region.

Based on technology, the market is segmented into continuous fiber composites, discontinuous fiber composites, and metal. The most widely used material for wheelchairs is metal. Metal offers durability, strength, and affordability, making it a popular choice for wheelchair frames. Metal wheelchairs are capable of supporting different weight capacities and are suitable for both manual and powered wheelchairs.

Metal frames provide stability and robustness, making them suitable for heavy-duty use. They can withstand regular wear and tear and are less prone to damage compared to other materials.

Based on components, the market is segmented into hand rims & wheel rims, frames, and other components. The hand rims & wheel rims segment held a dominant position in the global wheelchair and components market in 2019, accounting for 36.1% shares, followed by the frames segment. The increasing demand for lightweight and ultra-lightweight wheelchairs is expected to drive the segment growth during the forecasted period.

Based on application, the market is segmented into manual wheelchairs, powered wheelchairs, and powered scooters. Due to the increasing demand for manual wheelchairs owing to their low cost, light weight, and independence from charging, this market segment is expected to grow at the highest CAGR over the projected period, thus taking the lead in 2022. Additionally, they come in a range of weights and configurations, from standard to ultra-lightweight, and take up minimal room as many of its product types are foldable.

Global Wheelchair and Components Market- Cross Sectional Analysis:

The North Americawheelchair and components market is substantial, and is driven by the high prevalence of mobility-related disabilities and the aging population. The market has experienced steady growth over the years, with a growing demand for manual wheelchairs to support individuals' mobility needs. Moreover, manual wheelchair manufacturers continuously focus on innovation to enhance the user experience and functionality. Companies are launching new products which is propelling the market growth. For instance, in August 2022, Sunrise Medical, a global leader which designs and manufactures mobility products, made an announcement regarding the availability of RGK, a highly advanced and top-tier range of made-to-measure manual wheelchairs, in the North America market. Sunrise Medical, which acquired RGK Wheelchairs, a UK based manufacturer & supplier of wheelchairs in 2015, emphasizes the brand's commitment to challenging traditional norms, eliminating obstacles, and empowering individuals. This introduction expanded Sunrise Medical's product offerings, allowing customers in North America to access the innovative and customized solutions offered by RGK Wheelchairs.

Global Wheelchair and Components Market: Key Developments

In December 2022, the Massachusetts medical transportation division of Transformative Healthcare, an innovator in providing Mobile Integrated Healthcare solutions which is made up of Fallon Ambulance Service, and LifeLine Ambulance Service, which are hospitals & health care companies that offers ambulance services in US was acquired by Coastal Medical Transportation Systems (CMTS), a privately-owned and operated medical transportation company committed to providing the highest quality care with compassion, dignity, and respect for clients and their patients.

In July 2021, Sunrise Medical launched QUICKIE Nitrum ultra-light wheelchair, which offers the highest rigidity and strength. All these developments are projected to impact the market positively.

Global Wheelchair and Components Market: Restraint

High cost of materials used for making wheelchair components

The cost of composite materials used to manufacture lightweight wheelchair components is high, which is expected to hinder the growth of the global wheelchair and components market. Wheelchairs and components, especially those with advanced features or specialized designs, can be expensive. The high cost of these products may limit affordability, particularly for individuals with limited financial resources or inadequate insurance coverage. The price barrier can hinder market growth and restrict access to quality wheelchairs for some individuals.

Lack of awareness and accessibility

Limited awareness about the availability of wheelchair options, their features, and the benefits they offer can hinder the market growth. Additionally, physical accessibility barriers in public spaces, transportation systems, and buildings can pose challenges for wheelchair users, affecting their ability to navigate and utilize wheelchairs effectively.

Global Wheelchair and Components Market: Key Players

The key companies covered as a part of this study include:

OEM Companies: Invacare Corp., Ottobock, Permobil AB, Pride Mobility Products Corp., Handicare, Sunrise Medical, Hoveround, Panthera X, 21st Century Scientific, Inc., and Meyra Wilhelm Meyer GmbH & Co. KG.

Tier 1 Component Suppliers Companies: Tetra Equipment GMBH, Custom Engineered Wheels, The Wheelchair Place, LLC, Alber GmbH, and Intelli Wheels.

Material Suppliers Companies: E.I. DuPont De Nemours and Company, Toray Industries, Inc., Mitsubishi Rayon Co., Ltd., Toho Tenax, and Shanghai Cedar Composites Technology Co., Ltd.