Report : South and Central America Wheelchair Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Powered/Electric Wheelchair, Smart Wheelchair, and Manual Wheelchair); Type (Front Wheel Drive, Centre Wheel Drive, Rear Wheel Drive, and Standing Electric Wheelchair); End User (Homecare, Hospitals and Clinics, Rehabilitation Centres, and Ambulatory Surgical Centres); Application (Neurologically Impaired, Handicap Patients, and Others); Usage (Adult and Paediatric); Distribution Channel (Retail and E-Commerce)
Manual Wheelchair Segment has the Largest Share of Product in the South and Central America Wheelchair Market during 2021–2028
According to a new market research study on “South and Central America Wheelchair Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Type, End User, Application, Usage, and Distribution Channel” is expected to reach US$ 438.6 million by 2028 from US$ 291.3 million in 2021. The market is estimated to grow at a CAGR of 6.0% from 2021 to 2028. The report provides trends prevailing in the South and Central America wheelchair market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the rising population of geriatrics and rise in number of disorders requiring mobility assistance fuel the growth of the market are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the operational difficulties associated with wheelchairs and high cost of powered wheelchairs.
Countries in Brazil, and Argentina are among the top destinations in the world for healthcare mobility solutions owing to the relatively low cost of treatments as compared to the US. The outbreak of COVID–19 have severely impacted the flow of medical services in the region. In addition, the countries are popular for medical tourism, which is also affected by the pandemic. Brazil, Argentina, Peru, Chile, Uruguay, Colombia are affected by the second wave of corona infection. Among which Brazil has registered majority of the deaths. It is expected that the region is likely to impose several restrictions on trade, which is expected to hamper the healthcare industry in the region. Moreover, countries are significantly dependable on the US and European countries for their medical resources. However, the evolving treatment procedures and vaccination drives for the COVID 19 in the region is expected to bring some positive impact on the market in the region owing to the people are opting for their routine treatments and procedures.
The market for wheelchair market is segmented into product, type, application, end user, usage, and distribution channel. Based on product, the wheelchair market is segmented into manual wheelchair, powered/electric wheelchair, and smart wheelchair. In 2020, the manual wheelchair segment accounted for the highest share of the market. Growth of this segment is attributed to the increasing prevalence of chronic conditions and demand for manual wheelchairs in emerging countries. Moreover, the prevalence of knee pain has witnessed massive growth of around 40.0% during past 4 decades. However, powered/ electric wheelchair segment is projected to register highest CAGR during the forecast period.
Medline Industries, Inc., OTTOBOCK, MEYRA GMBH, KARMAN HEALTHCARE, INC, Sunrise Medical, LEVO AG, and Permobil are among the leading companies in the South and Central America wheelchair market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2020, Invacare Corporation has launched of the Invacare AVIVA FX Power Wheelchair. The AVIVA brand has a unique identity that conveys a promise of best-in-class design, technology, and performance.
The report segments the South and Central America Wheelchair market as follows:
- Manual Wheelchair
- Powered/Electric Wheelchair
- Standard Powered Wheelchairs
- Custom-Built Powered Wheelchairs
- Smart Wheelchair
- Centre Wheel Drive
- Front Wheel Drive
- Rear Wheel Drive
- Standing Electric Wheelchair
- Neurologically Impaired
- Handicap Patients
By End User
- Rehabilitation Centres
- Hospitals and Clinics
- Ambulatory Surgical Centres
By Distribution Channel
- South and Central America
- Rest of South and Central America
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