Wheelchairs are not just a device; it is an easy mobility option for many people. Advancements in this facility are enhancing many people’s lives from a lifestyle perspective. Additionally, thanks to these wheelchairs, numerous old and differently-abled people are able to undertake their daily chores efficiently. Thus, rising geriatric population globally is reflecting positively on the expansion of the global wheelchairs market. Moreover, a need for these facilities due to rising number of accidents and mishaps coupled with an increasing incidences of brain stroke, osteoporosis, spine injury, and paralysis has led to an increased demand for advanced wheelchairs.
According to TMR’s report, the global wheelchairs market accounted for US$3,708.7 mn in 2017 and is likely to expand at a CAGR of 5.9% over the forecast period from 2018 to 2026. By expanding with this CAGR, the market is likely to attain a value of US$6,253.6 mn by 2026- end. Regionally, North America accounted for the leading share in the global level by gathering US$1581.5 mn in 2018 and is estimated to stand at the first position in terms of demand, consumption, and revenue.
The Advent of the Smart Wheelchair: What Can We Expect?
Numerous advancements occurring in wheelchair designs and functionalities such as electricity support and introduction of smart or robotics-based wheelchairs are playing a crucial role in the development of wheelchairs market. Also, the availability of these advanced wheelchairs and awareness for their availability are spurring the market’s growth too.
Moreover, the wheelchairs market is growing on the back of improvements in the healthcare infrastructure. Increasing disposable income is leading to a boosted acceptance of advanced healthcare support. This has further caused companies to launch new and improved wheelchairs varieties, consequently encouraging their device sales. Furthermore, numerous governments mainly from developing countries are initiating strategies to help the differently-abled population, thus offering splendid growth opportunities over the forecast period.