Active Wheelchair Market Expected To Witness A Substantial Growth Of $2.3 Billion By 2027: Grand View Research Inc.

 

The global active wheelchair market size is expected to reach USD 2.3 billion by 2027, expanding at a CAGR of 4.4%, according to a new report by Grand View Research, Inc. Surge in the geriatric and disabled population along with the rising prevalence of chronic diseases in the geriatric population are some of the key factors propelling the market growth.

Aging usually reduces the ability to move and perform physical tasks to maintain independent functioning. The increasing geriatric population is likely to create more demand for active wheelchairs over the forecast period. Moreover, they are more prone to falls, which can cause fatal or non-fatal injuries. The Western Europe region has the highest fall-related incidence and mortality rates in aged people. As per a research article published by Injury Prevention, in 2017, around 11.7 million aged people sought medical attention due to an injury, of which 8.4 million were owing to fall-related injuries. An increasing number of elderly people and rising incidents of falls in the elderly are projected to drive demand for active wheelchairs during the forecast period.

The introduction of technologically advanced active wheelchairs is also expected to drive the market as it provides more comfort to the users. In addition, increasing government initiatives to support the elderly and disabled population is boosting the market. For instance, the U.S. government provides various disability services to its citizens such as insurance for short-term and long-term disability, financial assistance & support services for the disabled, and education & jobs for persons with disabilities. In 2017, the Government of India offered free eldercare assistive devices under RashtriyaVayoshriYojana (RVY) to senior citizens belonging to lower economic strata of the country.

Furthermore, favorable reimbursement policies for the purchase of active wheelchairs, rising incidence of accidents, increasing spending on healthcare infrastructure, and increasing obese population across the globe due to drastic changes in daily lifestyle are also anticipated to propel the growth of the market.

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Active wheelchairs are used daily and are generally more of an upscale product than standard wheelchairs. It includes wheelchairs for people that choose to remain physically active. Active wheelchairs constitute the majority of sports wheelchairs. These wheelchairs are easy to maneuver and are typically available in two varieties: folding and rigid. They can be adjusted to suit the user’s needs and their active lifestyle. The continuous improvement in active wheelchair efficiency, rising geriatric population with disability, increasing prevalence of chronic diseases, and increasing government initiatives to support the geriatric and disabled population are expected to drive the market over the forecast period.

Active Wheelchair Market Report Highlights

• The manual wheelchairs segment was the largest segment in 2020 owing to the low cost of the product and continuous technological advancement to meet the increasing demand in the emerging countries
• The powered wheelchairs segment is expected to register higher CAGR over the forecast period owing to an increase in product demand especially in developed countries such as the U.S. and Germany
• Cerebral Palsy was the largest indication segment in 2020 owing to the higher global prevalence of the condition and support offered by the active wheelchairs to the patient with cerebral palsy
• Europe dominated the market in 2020 with a 33.5% revenue share due to an increase in healthcare expenditure and growing geriatric and disabled population in the region
• Asia Pacific is expected to register a higher CAGR over the forecast period owing to rising awareness levels and increasing disposable income in the region.

To sustain in the highly competitive environment and to improve market share, the key companies are adopting new product launch as a key strategy. For instance, in March 2020, Invacare Corporation launched the new Invacare AVIVA FX Power Wheelchair, which is designed to meet the performance needs of active users. Some of the prominent players in the active wheelchair market include:

• Sunrise Medical
• Mountain Trike
• Numotion
• Invictus Active
• Karman Healthcare, Inc.
• PER4MAX Medical
• MEYRA GmbH
• Spinlife
• Sportaid