DUBLIN--(BUSINESS WIRE)--The "Wheelchairs (Powered and Manual) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Wheelchairs (Powered and Manual) estimated at US$6.1 Billion in the year 2020, is projected to reach a revised size of US$9.6 Billion by 2027, growing at a CAGR of 6.7% over the analysis period 2020-2027.
Manual Wheelchairs, one of the segments analyzed in the report, is projected to record a 7% CAGR and reach US$4.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Mobility Scooters segment is readjusted to a revised 5.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 10.2% CAGR
The Wheelchairs (Powered and Manual) market in the U.S. is estimated at US$1.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2027 trailing a CAGR of 10.2% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
Powered Wheelchairs Segment to Record 7.2% CAGR
In the global Powered Wheelchairs segment, USA, Canada, Japan, China and Europe will drive the 6.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.3 Billion in the year 2020 will reach a projected size of US$2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2027, while Latin America will expand at a 8.5% CAGR through the analysis period.
Select Competitors (Total 120 Featured):
- 21st Century Scientific Inc.
- Convaid Products, LLC
- Etac AB
- Foshan Dongfang Medical Equipment Manufactory (Ltd.)
- Future Mobility Products
- GF Health Products, Inc.
- Invacare Corporation
- Karma Medical Products Co., Ltd.
- Karma Mobility
- Karman Healthcare
- LEVO AG
- Magic Mobility Pty. Ltd.
- Matsunaga Manufactory Co., Ltd.
- Medline Industries, Inc.
- MEYRA GmbH
- Otto Bock HealthCare GmbH
- Permobil, Inc.
- Pihsiang Machinery MFG. Co. Ltd.
- Pride Mobility Products Corporation
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Wheelchairs - A Preview
- Recent Market Activity
- Wheelchairs: Meeting Mobility Needs of the Disabled for Personal, Social, and Professional Fulfillment
- Wheelchair Needs and Adoption Rates - A Global Statistical Review
- Superior Attributes over Manual Wheelchairs Drive Strong Demand for Powered Wheelchairs
- Major Growth Drivers in a Nutshell
- Technology Superiority, New Features and Improved Functionality Drive Surging Popularity of Powered Wheelchairs
- Component Optimization for Enhanced Efficiency
- Balancing Functionality and Accessibility
- Focusing on Progressive Needs
- Despite Cannibalization by Powered Wheelchairs, Manual Wheelchairs Continue to Sustain Market Growth
- Relatively Lesser Price: An Important Criterion for Manual Wheelchairs
- Affordable Wheelchairs: The Need of the Hour in Developing Markets
- Global Market Outlook
- The US: Single Largest Wheelchairs Market Worldwide
- Developing Countries to Turbo Charge Current and Future Market Growth
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Market Fortunes Intrinsically Tied to the Home Medical Equipment (HME)/Durable Medical Equipment (DME) Industry
- Shift in Nature of Medical Care towards Non-Hospital Environment: The Primary Growth Driver for HME
- Favorable Trends in the Personal Mobility Devices Market Strengthens Market Prospects
- Wheelchairs Dominate the Global Medical Mobility Aids Market
- Aging Population and their Vulnerability to Various Diseases and Disabilities: Foundation for Market Growth
- Demographic Statistics of Aging Populace: Unfurling the Market Potential
- Rising Number of Rheumatoid Arthritis and Osteoporosis Procedures Benefit Market Expansion
- Rising Incidence of Disability: A Grim Reality Driving the Wheelchairs Market
- Increasing Spinal Cord Injuries Escalates Global Disability Count
- Rise in Global Obesity Epidemic Drives Demand for Bariatric Wheelchairs
- Positive Outlook for Healthcare Industry Signals Promising Growth in Demand
- Steady Launch of Lightweight, CompacTable and Customized Travel Wheelchairs Bodes Well for the Market
- Custom Wheelchairs: Catering to Individual Needs of the Differently-Abled
- Rising Need to Lead Active Outdoor Lifestyle Boosts Demand for All-Terrain Wheelchairs
- Demand for Sports Wheelchairs Driven by Growing Popularity of Disabled Sports and Recreational Activities
- Online Marketing and Online Sales Increase Market Penetration
- Select Leading Online Wheelchair Stores Worldwide
- 1800WHEELCHAIR.com Inc. (US)
- Independent Living & Mobility (Australia)
- MEDmarketplace.com, Inc. (US)
- MedSupplyShop.com (US)
- Mobility Choices
- More Than Mobility
- The Mobility Store
- Growing Prominence of Safe and Quality Healthcare Services Drive Demand for Wheelchair Accessible Vehicle (WAV) Converters
- Research to Focus on Shared Control Approaches in Assistive Mobility Technology
- Collaborative Wheelchair Assistance
- Sensory Motor Interaction
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/mt3gbs
