Wheelchair Market is Predicted to Witness 7.2% CAGR till 2030

[sara James]

The global Wheelchair Market size is expected to reach USD 8.41 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.2% from 2022-2030. The rising demand for mobility assistance and the geriatric population is expected to drive market growth. As per the Americans with Disabilities Act, a wheelchair is designed mainly for use by an individual with a physical disability. Wheelchairs can be used for both indoor and outdoor purposes. An increase in life span and the number of elderly persons at a global level is one of the key reasons expected to contribute to the growth of the market.

The market is disrupted due to the COVID-19 pandemic which affected the market due to the restrictions and lockdown imposed by the government as a result, the demand and sale of the product decreases. The demand for a wheelchair is expected to increase due to the rising geriatric population and mobility issues that occurred to the people during the pandemic. Although the number of hospital visits by regular patients had reduced during the lockdown, the number of patients affected with COVID-19 witnessed a spike. With the ease of lockdowns, the manufacturing operation of the mobility device is expected to come back to normal.

The rise in the number of disorders requiring an assistive device is also one of the key factors expected to contribute to market growth. The most common disability that needs a mobility device is spinal cord injuries. As per the National Spinal Cord Injury Statistical Center, around 294,000 people currently living with spinal cord injuries, in the U.S. with 17,7300 new cases each year. Thus, the U.S. is expected to be a major potential market for the supplier and manufacturers of mobile devices over the forecast period.

Related Press Release@ Wheelchair Market Report

Wheelchair Market Report Highlights

• Electric wheelchairs emerged as the largest product segment in 2021 as these devices are mostly used in home-care settings for a comfortable movement
• The adult segment accounted for the highest revenue in 2021 owing to the high geriatric population and increased cases of disabilities, such as spinal cord injuries, requiring a mobility device
• The hospital application segment is estimated to register the fastest CAGR over the forecast period owing to the rising volume of medical emergencies
• North America dominated the market in 2021 with a revenue share due to the high target population and increased adoption of advanced technology in wheelchairs