Latest News- Wheelchair Market: Manual wheelchair is expected to lead the Product segment during 2024-2028
The Wheelchair Market is being driven by Growing healthcare expenditure
The Wheelchair Market is expected to grow at a CAGR of 8.09% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1761 million. In the healthcare sector, clinical mobility solutions, including wheelchairs, play a pivotal role in enhancing patient mobility. Traditional manual wheelchairs necessitate the involvement of an assistant for relocation. However, in medical settings such as operating theatres and patient wards, motorized stretchers are employed due to their convenience and efficiency. The evolution of technology has led to the development of automated mobility products, like smart wheelchair systems and electric wheelchairs, which can be controlled with minimal human intervention via mobile apps or Bluetooth devices. The high disposable income and substantial healthcare expenditure in countries like the US and Canada have fueled the adoption of these advanced mobility solutions.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Manual wheelchair, Powered wheelchair) End-user (Personal, Hospitals, Sports conditioning) Geography (North America, Europe, Asia, Rest of World (ROW)).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Wheelchair Market Research Report
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The wheelchair market caters to various populations with mobility challenges, including those with spinal cord injuries from vehicular crashes and road accidents. Wheelchair manufacturers produce manual and electric wheelchairs for adults with disabilities caused by chronic diseases such as arthritis, diabetes, and lower extremity injuries. The elderly population also benefits from portable care solutions like wheelchairs and medical devices. Wireless headsets and home healthcare services further enhance the mobility experience for those with physical disabilities or mobility disorders. Accidents, chronic illnesses, and walking disabilities drive the demand for manual and powered wheelchairs, including standard and portable models.
The wheelchair market is a significant segment within the expansive global healthcare equipment industry. This sector caters to the unique needs of disabled populations, encompassing those with spinal cord injuries, cerebral palsy, and other mobility impairments, often as a result of vehicular crashes or road accidents. Technavio, a leading global technology research and consulting firm, positions this market as a key component of the healthcare equipment industry. The healthcare equipment market encompasses manufacturers involved in the research and development of a diverse range of products, including capital equipment, instruments, implants, accessories, and consumables. These products are utilized in the diagnosis, monitoring, and treatment of various diseases. The wheelchair market's size is determined by the combined revenue generated by manufacturers of wheelchairs and related accessories.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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