Wheelchair Market Size

Geriatric population growth is fueling the market growth

Market CAGR for wheelchairs is driven by the rising number of geriatric people. Mobility, agility, and the ability to maintain independent functioning generally decline with age. An expanding elderly population is expected to drive up demand for wheelchairs throughout the projection period. 

Additionally, falls among this age group are more likely to result in fatal or nonfatal injuries and mobility problems. According to the Urban Institute, there will be twice as many Americans over 65 in 2040 as there are today. To sustain market expansion, it is projected that chronic illnesses like diabetes, cardiovascular disease, arthritis, and other lifestyle problems will become more common.

Wheelchairs and other personal mobility devices are mostly marketed to older people. It is predicted that throughout the forecasted period, growing nations like India will greatly boost the profits of wheelchair manufacturers. The country has the highest rates of car accidents in the world, and many of the casualties are disabled. Additionally, it has one of the largest populations of disabled people worldwide, which helps the industry grow.

The move towards portable care at home or the bedside drives the development of next-generation therapeutic, display, diagnostic, and monitoring tools that are more adaptive, precise, and tiny. These systems are consumer-driven healthcare models that simplify adopting cutting-edge innovations like customized wearable technology, electronic patient records, and wireless internet connectivity. These innovations should improve home healthcare's efficiency, usability, and comfort. 

The senior population and the increase in chronic illnesses and disabilities are the main causes of the rise in portable medical equipment and technologies. They have more mobility at home because of these tools. The rising number of people working in home healthcare is another element causing the demand to rise quickly. Due to rising illness prevalence and an aging population, healthcare spending is anticipated to increase during the projection period. 

Home healthcare is also a less expensive substitute for pricey hospital care services, and it is anticipated to impact rendering throughout the forecast period. Thus, driving the wheelchair market revenue.

The Global Wheelchair Market Industry is experiencing a notable surge due to the increasing aging population worldwide. As individuals age, the likelihood of mobility impairments rises, necessitating the use of wheelchairs. By 2024, the market is projected to reach 5.8 USD Billion, reflecting the growing demand for mobility aids among the elderly. This demographic shift is particularly pronounced in developed nations, where the proportion of older adults is rising rapidly. Consequently, manufacturers are focusing on developing advanced wheelchairs that cater to the specific needs of seniors, thereby driving growth in the Global Wheelchair Market Industry.

The Global Wheelchair Market Industry is characterized by a diverse range of product offerings that cater to various consumer needs. Manufacturers are increasingly developing specialized wheelchairs designed for specific conditions, such as sports wheelchairs, pediatric models, and lightweight options for ease of transport. This diversification is attracting a broader customer base, including athletes and active individuals with disabilities. Additionally, customization options are becoming more prevalent, allowing users to tailor their wheelchairs to their preferences. As a result, the Global Wheelchair Market Industry is likely to witness robust growth, driven by the demand for innovative and personalized mobility solutions.

Technological innovations are significantly influencing the Global Wheelchair Market Industry. The introduction of smart wheelchairs equipped with sensors, GPS, and automated navigation systems is transforming user experience. These advancements not only enhance mobility but also improve safety and independence for users. As the market evolves, the integration of artificial intelligence and robotics into wheelchair design is expected to gain traction. This trend is likely to attract younger consumers and those with specific mobility challenges, further expanding the market. The Global Wheelchair Market Industry is thus poised for substantial growth, with projections indicating a market size of 12.4 USD Billion by 2035.

The Global Wheelchair Market Industry is benefiting from rising healthcare expenditures across various nations. Increased investment in healthcare infrastructure and services is facilitating better access to mobility aids for individuals with disabilities. Governments are allocating more resources to support rehabilitation programs, which often include wheelchair provision. This trend is particularly evident in developing countries, where healthcare systems are evolving to meet the needs of their populations. As healthcare spending continues to rise, the Global Wheelchair Market Industry is expected to expand, with a projected compound annual growth rate of 7.17% from 2025 to 2035.

There is a growing awareness and advocacy for the rights of individuals with disabilities, which is positively impacting the Global Wheelchair Market Industry. Organizations and governments are increasingly promoting accessibility and inclusivity, leading to enhanced funding for mobility aids. This shift in societal attitudes is encouraging more individuals to seek out wheelchairs, thereby increasing demand. Furthermore, public campaigns aimed at reducing stigma associated with disability are fostering a more supportive environment for wheelchair users. As a result, the Global Wheelchair Market Industry is likely to see sustained growth, driven by a more informed and engaged consumer base.

Leading market players are largely investing in R&D to expand their production capacities, which will aid in the further expansion of the chemotherapy industry. The launch of new products, larger-scale mergers and acquisitions, contractual agreements, and collaboration with other organizations are significant market developments in which market participants engage to increase their presence. The wheelchair industry must provide affordable products to expand and thrive in a more competitive and challenging market environment.

One of the major business strategies manufacturers use in the wheelchair industry to increase the market sector and benefit customers is local manufacturing to lower operational costs. Recently, the wheelchair industry has stipulated some of the most important medicinal benefits. Major players in the market of wheelchair, including Pride Mobility Products Corp. (US), Sunrise Medical (Germany), Levo AG (Switzerland), Invacare Corporation (US), and others, are funding operations for research and development to boost market demand.

LITH-TECH is the leading online folding electric wheelchair brand and specialist in the UK. The company was formed to deliver excellent mobility products to wheelchair users, and we continue to do so every day. They carry folding electric wheelchairs created with needs in mind, providing them with the freedom and independence they deserve. 

In October 2021, LITH-TECH, located in Surrey, announced the release of its new entry-level Smart Chair 3 folding wheelchair, which seeks to be more inexpensive to customers while maintaining quality. The wheelchair, appropriate for indoor and outdoor use, has a 12AH battery that can travel approximately 12 miles on a single charge and complies with airline luggage constraints.

Scewo manufactures self-balancing wheelchairs meant to help people with mobility issues. The electric chair from the company combines balancing wheels and tracks that descend from its undercarriage with an active control system that keeps the chair level and stable at all times, allowing users to control using a joystick or a shift in body weight and overcome obstacles such as curbs, tram tracks, grass, mud, and stones. 

In January 2022, Scewo, a Swiss startup, unveiled Scewo BRO, a new electric wheelchair designed to help persons with mobility impairments climb stairs. BRO is the world's only motorized wheelchair that can drive on two wheels and climb stairs. The motorized wheelchair can be controlled by a smartphone app or a control panel mounted to either side.