Market Introduction
Patients use wheelchairs when walking is impossible for them due to injury, illness, or disability. There are different types of wheelchairs available in the market, depending on the patient's requirement. There is a wide range of wheelchairs available differing by mechanisms of control, propulsion method, and technology used. There has been a significant effort in the last decade to develop a wheelchair.
Thus, the rising geriatric population is expected to create a significant demand for wheelchair in the coming years, which is further anticipated to drive the wheelchair market.
Many measures have been implemented to contain the spread of COVID-19, that have resulted in significant operational disruption for many companies including in wheelchair manufacturing industry. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. Also, there has been a significant drop in in-patient and out-patient for private hospital chains. To relieve healthcare systems, many clinics have been postponing non-critical surgical procedures like orthopaedic and neuromuscular conditions. To avoid overburdening hospitals already struggling to deal with the rising pandemic pressure, doctors are delaying surgeries till the Covid-19 peak is past. Moreover, Medical device companies are starting to forecast large sales declines in their business segments because people are staying at home. Many big medical device companies such as Stryker, Invacare corporation and Medline Industries have predicated the decline in sales in china. Hospitals across China, Hong Kong and Taiwan have been deferring surgeries, to prevent the spread of the virus in the region. Thus, the impositions of lockdown and barriers in supply chain for wheelchairs are likely to negatively impact the growth of the market in 2020 and 2021. However, the countries such as India is conducting vaccination drive for the age group wise including the people within age group of 18 to 44, and 45 years and above. The country has also initiated testing of vaccine of the children which is expected to bring some positive prospects for the market.
Market Overview and Dynamics
The Wheelchair market in Asia Pacific is expected to grow from US$ 1,095.8 million in 2021 to US$ 1,802.1 million by 2028; it is estimated to grow at a CAGR of 7.4% from 2021 to 2028. Greater risk of physical disabilities in elderly population boosts the demand for wheelchairs. As per the United Nations, globally 46% of people with age 60 and above have disabilities; ~250 million people have moderate to severe disabilities. Furthermore, the accumulation of health risks across a lifespan of disease, injury, and chronic illness contributes to higher disability rates among older people. As per the United Nations World Population Ageing Report, the global population of people with age 60 and above reached 962 million in 2017 from ~382 million in 1980, with more than two-times increase. The report also mentions that number of elderly people is further expected to double by 2050 to reach ~2.1 billion. Similarly, as per the Population Census 2011, in India, ~104 million Indians were with age 60 or above, comprising ~53 million females and ~51 million males. According to a report by the United Nations Population Fund and HelpAge, elderly population in India is estimated to grow to 173 million by 2026. Thus, the growing aging population across the world is bolstering the demand for wheelchairs.
Key Market Segments
In terms of product, the manual wheelchair segment accounted for the largest share of the Asia Pacific wheelchair market in 2020. In terms of type, the centre wheel drive segment accounted for the largest share of the Asia Pacific wheelchair market in 2020. In terms of application, the neurologically impaired segment accounted for the largest share of the Asia Pacific wheelchair market in 2020. In terms of end user, the rehabilitation centres segment held a larger market share of the wheelchair market in 2020. In terms of usage, the adult segment held a larger market share of the wheelchair market in 2020. In terms of distribution channel, the retail segment held a larger market share of the wheelchair market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the wheelchair market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Medline Industries, Inc., OTTOBOCK, MEYRA GMBH, KARMAN HEALTHCARE, INC, Sunrise Medical, LEVO AG, and Permobil.
Reasons to buy report
ASIA PACIFIC WHEELCHAIR MARKET SEGMENTATION
By Product
By Type
By Application
By End User
By Usage
By Distribution Channel
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,095.8 Million |
| Market Size by 2028 | US$ 1,802.1 Million |
| CAGR (2021 - 2028) | 7.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Wheelchair Market is valued at US$ 1,095.8 Million in 2021, it is projected to reach US$ 1,802.1 Million by 2028.
As per our report Asia Pacific Wheelchair Market, the market size is valued at US$ 1,095.8 Million in 2021, projecting it to reach US$ 1,802.1 Million by 2028. This translates to a CAGR of approximately 7.4% during the forecast period.
The Asia Pacific Wheelchair Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Wheelchair Market report:
The Asia Pacific Wheelchair Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Wheelchair Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Wheelchair Market value chain can benefit from the information contained in a comprehensive market report.
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