The Global Wheelchair And Components Market, By Technology (Continuous Fiber Composites, Discontinuous Fiber Composites, and Metal), By Components (Hand Rims & Wheel Rims, Frames, and Other Components), By Application (Manual Wheelchairs, Powered Wheelchairs, and Powered Scooters), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
As the global population continues to age, there is a higher prevalence of age-related conditions such as arthritis, strokes, and other mobility-related issuess. These conditions can result in decreased mobility and the need for assistive devices like wheelchairs.
There are various disabilities and injuries, both temporary and permanent, that can limit a person's ability to walk or move independently. Wheelchairs provide mobility and independence to individuals with conditions such as spinal cord injuries, amputations, muscular dystrophy, multiple sclerosis, and others.
Over time, there have been efforts to make public spaces and facilities more accessible to people with disabilities. This includes the implementation of ramps, elevators, and designated wheelchair-accessible areas. These improvements enhance the mobility of wheelchair users and encourage their participation in public life.
Increased awareness and advocacy for people with disabilities have highlighted the importance of accessibility and the rights of individuals with mobility impairments. This has led to greater acceptance and support for wheelchair users, encouraging more people to embrace the use of wheelchairs to enhance their quality of life.
Wheelchair technology has evolved significantly, providing better comfort, maneuverability, and accessibility. There are now lightweight and motorized wheelchairs that offer improved mobility options. Advancements like these have made wheelchairs more appealing and functional for a broader range of individuals.
Global Wheelchair and Components Market - Impact of the Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic led to disruptions in healthcare systems worldwide, including the postponement of elective procedures such as colonoscopies in many regions like Asia Pacific and North America. For instance, according to the latest estimates from the World Health Organization (WHO), as of June 7, 2023, there have been 767,750,853 confirmed cases of COVID-19, including 6,941,095 deaths reported to WHO.
The wheelchair and components market heavily relies on global supply chains for the production and distribution of products. The pandemic caused disruptions in the supply chain due to lockdowns, travel restrictions, and reduced manufacturing capacities. This led to delays in the production and delivery of wheelchairs, impacting the market growth.
The economic downturn caused by the pandemic significantly influenced the consumer purchasing power. Many individuals faced financial challenges, affecting their ability to invest in expensive medical equipment like wheelchairs. As a result, the wheelchair market experienced a decline in sales to some extent.
However, the pandemic created a surge in the demand for healthcare products including wheelchairs. Many COVID-19 patients experienced severe respiratory distress and required mobility assistance during their recovery. Additionally, healthcare facilities faced an increased need for wheelchairs to support patients with mobility issues.
Global Wheelchair and Components Market: Key Developments
On March 17, 2023, Medtrade exhibitor, US's largest home medical equipment tradeshow Golden Technologies, a manufacturer of power lift recliners, mobility scooters, and power wheelchairs, launched two new lightweight foldable power wheelchairs, further expanding its current line of mobility products.
In August 2021, Invacare Corporation, a U.S.-based manufacturer and distributor of non-acute medical equipment announced the launch of Invacare AVIVA STORM RX power wheelchair, thus setting a new standard for rear-wheel drive power mobility. The wheelchair has a wider front end that helps with turning and has a special foot platform in the center. This makes it easier to turn the wheelchair in tight spaces. The wheelchair's streamlined base allows the user's legs to fit under the chair at a slight angle, making it possible to get closer to objects and people. It also makes it easier for the user to stand up and move from sitting to standing positions.
In January 2020, Sunrise Medical, a global company which designs and manufactures mobility products announced the launch of QUICKIE Q700-UP M standing wheelchair. The QUICKIE Q700-UP M wheelchair combines the advantages of the Q700 M mid-wheel drive base and the SEDEO ERGO seating system, which includes the ability to power the user into a standing position.The personalized configurations with the QUICKIE Q700-UP M, coupled with the ability to change positions from sitting to standing, can have a positive impact on a wheelchair user's health and wellness.
Browse 28 market data tables and 22 figures spread through 200 Pages and in-depth TOC on “Global Wheelchair and Components Market, By Technology (Continuous Fiber Composites, Discontinuous Fiber Composites, Metal), By Components (Hand Rims & Wheel Rims, Frames, Other Components), By Application (Manual Wheelchairs, Powered Wheelchairs, Powered Scooters), and By Regions (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)”
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/wheelchair-and-components-market-3318
Key Takeaways of the Global Wheelchair and Components Market:
- In the global wheelchair and components market, the continuous fibre composites sector had a dominant market share. Increasing technological innovations in material design throughout the course of the predicted period is responsible for the segment growth.
- 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 frame segment. The increasing demand for lightweight and ultra-lightweight wheelchairs is expected to drive the segment growth during the forecasted period.
- The manual wheelchair segment is projected to experience the highest Compound Annual Growth Rate (CAGR) in the coming years, primarily driven by the rising demand attributed to their affordability, lightweight nature, and autonomy from charging requirements. Furthermore, manual wheelchairs offer a diverse range of weights and configurations, ranging from standard to ultra-lightweight variants, and their foldable design allow for minimal space occupation across various product types. As a result, this segment is anticipated to surpass others and emerge as the leading category by 2022.
- 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.
