Asia-Pacific is the two potential markets, expected to witness growth during the forecast period
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, May 16, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Manual Wheelchair Market by Category, Design & Function, and End User: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,”the global manual wheelchair market was valued at $2,609.7 million in 2017 and is projected to reach $4,099.1 million by 2025, registering a CAGR of 5.8% from 2018 to 2025. Manual wheelchairs are specifically designed for use by individuals with mobility, lower extremity, and spinal cord disabilities. Specific needs regarding style, weight, comfort, and performance are taken into consideration while designing these chairs. These chairs help individuals to prevent pressure ulcers and shoulder injuries as well as help maintain a good posture. Various features and accessories are added to the chair to cater to the requirements of the end user. These include fixed or detachable arms, fixed or adjustable height, and full length or desk length arm.
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Other factors such as rise in spinal cord injuries, rise in incidence of disabilities, and accidents coupled with growth in government expenditure on healthcare are expected to open new avenues for the manual wheelchair market players in the future. However, inclination of consumer toward electric and automated wheelchairs hinder the growth of the manual wheelchair market. Emerging trends that have a direct impact on the dynamics of the wheelchair industry, include improved wheelchair efficiency to provide more comfort and convenience, increase in adoption of power assistance device, and rise in adoption of hybrid concept in wheelchair. In addition, greater strength and durability of material along with less moving parts have considerably reduced the maintenance cost that leads to increased adoption of adult wheel chair. Thus, recent advancements in material and engineering design of manual wheelchair are expected to drive the growth of the wheelchair market during the forecast period.
Key Findings of the Manual Wheelchair Market:
Based on category, the adult wheelchair segment accounted for around 63% in the manual wheelchair market share in 2017, growing at a CAGR of 6.1% from 2018 to 2025.
The pediatric wheelchair segment accounted for around 37% market share, growing at a CAGR of 6.3% from 2018 to 2025.
Based on design & function, the basic wheelchair segment accounted for 48% of the market share in 2017 and is expected to growth at the highest CAGR of 6.4%.
Based on end user, the homecare wheelchair segment occupied around 21% of the market share and is expected to grow at the highest CAGR of 6.4%.
Based on region, North America accounted for a prominent market share in 2017 and is anticipated to grow at a CAGR of 5.3% throughout the forecast period.
North America and Europe, together accounted for about 63.4% of the total global manual wheelchair market in 2018, with the former constituting around 33.4%. From a growth perspective, Asia-Pacific and LAMEA are the two potential markets, expected to witness growth during the forecast period. At present, these two segments account for 36.6% of the manual wheelchair market share.
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Some of the key players analyzed in the manual wheelchair industry are Etac AB, Gf Health Products, Inc., Invacare Corporation, Karma Medical Products Co., Ltd., Medical Depot, Inc. (Drive DeVilbiss Healthcare), Medline Industries, Inc., Meyra Group, NOVA Medical Products, Panthera AB, and Sunrise Medical (US) LLC.
Reason to Buy:
✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Manual Wheelchair Market.
✅ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
✅ The key findings and recommendations highlight crucial progressive industry trends in the Manual Wheelchair Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
✅ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
✅ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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The research provides answers to the following key questions:
1️⃣ What is the estimated growth rate of the market for the forecast period 2018-2025?
2️⃣ What will be the market size during the estimated period?
3️⃣ What are the key driving forces responsible for shaping the fate of the Manual Wheelchair Market during the forecast period?
4️⃣ Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Manual Wheelchair Market?
5️⃣ What are the prominent market trends influencing the development of the Manual Wheelchair Market across different regions?
6️⃣ What are the major threats and challenges likely to act as a barrier to the growth of the Manual Wheelchair Market?
7️⃣ What are the major opportunities the market leaders can rely on to gain success and profitability?
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