Global wheelchair market is expected to observe a healthy CAGR during the review timeline of 2022-2028.

Industry Snapshot:
 

• Increasing geriatric population and age-associated issues are driving the market expansion.
• Surging demand for home healthcare services and staff is supporting the development of the marketplace.
• The rising availability of technologically advanced, compact, and portable mobility aids are boosting worldwide wheelchair industry growth.
• High purchasing and maintenance costs are likely to impede the growth of the market over the forecast period of 2022-2028.

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Segmental Overview:
 

Product Type	Electric
	Manual
Application Spectrum	Rehabilitation Centers
	Ambulatory Surgical Centers
	Hospitals
	Homecare
Regions	North America
	Europe
	Asia Pacific
	Latin America

 

Window to the future:
 

• North America market is slated to generate substantial returns during the study period, owing to the rising expenditure on technological developments and soaring adoption of advanced wheelchairs.
• Asia Pacific wheelchair market is poised to grow at a considerable CAGR during the assessment period, attributed to the presence of a high target population, as well as improvements in healthcare facilities across the region.

Explainer:

For the record, a wheelchair is a type of medical aid with wheels that are created specifically to provide mobility to persons who are unable to walk because of an injury, disease, aging-related issues, or a handicap.

The rising prevalence of orthopedic injuries such as spinal cord and leg injuries, as well as increased R&D activities are expected to catalyze market demand throughout the projection period.

The leading companies influencing global wheelchair industry are Pride Mobility Products Corp., Numotion, Quantum Rehab, Karman Healthcare, Sunrise Medical LLC, Medline, Invacare Corporation, Graham-Field Health Products Inc., Drive Medical Design & Manufacturing, and Carex Health Brands Inc.

Concluding lines:

Market research helps to identify and analyze the customer needs and the competition. MarketStudyReport has a report titled ‘Global Wheelchair Market Size study, By Product Type (Manual, Electric), By Application (Homecare, Hospitals, Ambulatory Surgical Centers, Rehabilitation Centers), and Regional Forecasts 2022-2028’ which consists of information about numerous growth drivers and factors that may impede industry development during the review period. Hence, to mitigate their impact on the industry revenues, the report lists the solutions that companies can employ such as effective strategies and new product innovations.