Active Wheelchair Market Size Worth $2.3 Billion By 2027 | CAGR: 4.4%: Grand View Research, Inc.
10 Nov, 2020, 09:36 GMT
SAN FRANCISCO, Nov. 10, 2020 /PRNewswire/ -- The global active wheelchair market size is expected to reach USD 2.3 billion by 2027, expanding at a CAGR of 4.4%, according to a new report by Grand View Research, Inc. Surge in the geriatric and disabled population along with the rising prevalence of chronic diseases in the geriatric population are some of the key factors propelling the market growth.
Key suggestions from the report:
- The manual wheelchairs segment was the largest segment in 2019 owing to the low cost of the product and continuous technological advancement to meet the increasing demand in the emerging countries
- The powered wheelchairs segment is expected to register higher CAGR over the forecast period owing to an increase in product demand especially in developed countries such as the U.S. and Germany
- Cerebral Palsy was the largest indication segment in 2019 owing to the higher global prevalence of the condition and support offered by the active wheelchairs to the patient with cerebral palsy
- Europe dominated the market in 2019 with a 33.5% revenue share due to an increase in healthcare expenditure and growing geriatric and disabled population in the region
- Asia Pacific is expected to register a higher CAGR over the forecast period owing to rising awareness levels and increasing disposable income in the region.
Read 100 page research report with ToC on "Active Wheelchair Market Size, Share & Trends Analysis Report By Product Type, By Indication (Alzheimer's Disease, Amyotrophic Lateral Sclerosis (ALS), Cerebral Palsy), By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/active-wheelchair-market
Aging usually reduces the ability to move and perform physical tasks to maintain independent functioning. The increasing geriatric population is likely to create more demand for active wheelchairs over the forecast period. Moreover, they are more prone to falls, which can cause fatal or non-fatal injuries. The Western Europe region has the highest fall-related incidence and mortality rates in aged people. As per a research article published by Injury Prevention, in 2017, around 11.7 million aged people sought medical attention due to an injury, of which 8.4 million were owing to fall-related injuries. An increasing number of elderly people and rising incidents of falls in the elderly are projected to drive demand for active wheelchairs during the forecast period.
The introduction of technologically advanced active wheelchairs is also expected to drive the market as it provides more comfort to the users. In addition, increasing government initiatives to support the elderly and disabled population is boosting the market. For instance, the U.S. government provides various disability services to its citizens such as insurance for short-term and long-term disability, financial assistance & support services for the disabled, and education & jobs for persons with disabilities. In 2017, the Government of India offered free eldercare assistive devices under RashtriyaVayoshriYojana (RVY) to senior citizens belonging to lower economic strata of the country.
Furthermore, favorable reimbursement policies for the purchase of active wheelchairs, rising incidence of accidents, increasing spending on healthcare infrastructure, and increasing obese population across the globe due to drastic changes in daily lifestyle are also anticipated to propel the growth of the market.
Grand View Research has segmented the global active wheelchair market based on product type, indication, and region:
- Active Wheelchair Product Type Outlook (Revenue, USD Million, 2016 - 2027)
- Manual
- Power
- Active Wheelchair Indication Outlook (Revenue, USD Million, 2016 - 2027)
- Alzheimer's Disease
- Amyotrophic Lateral Sclerosis (ALS)
- Multiple Sclerosis
- Diabetes
- Cerebral Palsy
- Muscular Dystrophy
- Parkinson's Disease
- Scoliosis
- Spina Bifida
- Spinal Cord Injury
- Others
- Active Wheelchair Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Italy
- Spain
- Netherlands
- Belgium
- Switzerland
- Russia
- Sweden
- Asia Pacific
- India
- China
- Japan
- Australia
- South Korea
- Malaysia
- Indonesia
- Singapore
- Philippines
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Egypt
List of Key Players of Active Wheelchair Market
- Sunrise Medical
- Mountain Trike
- Numotion
- Invictus Active
- Karman Healthcare, Inc.
- PER4MAX Medical
- MEYRA GmbH
- Spinlife
- Sportaid
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.
