The wheelchair market is valued at USD 6,273.1 million in 2021, and it is expanded to grow at a significant CAGR of 4.5% over 2022-2028. Geriatric population growth and an increase in the number of conditions requiring mobility assistance, such as spinal cord injuries, are pushing the market. Over the projection period, developing countries like India are expected to be significant income drivers for wheelchair manufacturers. An important trend projected to fuel future market sales is the evolution of technical breakthroughs in wheelchair designs. The introduction of battery-powered electric wheelchairs is projected to benefit users significantly. The growing incidence of disorders requiring mobility assistance is also driving the market. The increasing integration of automation in healthcare devices, especially mobility devices, such as wheelchairs, is a crucial impacting parameter projected to support market growth. The market is segmented into two types of wheelchairs based on type: manual and powered. In 2021, the powered wheelchair segment had the most market share. The rising popularity of powered wheelchairs, as well as the benefits they provide over manual wheelchairs, will help to propel this market forward. Powered wheelchairs require very little effort to control and operate. The segment’s growth is also projected to be aided by an increase in the number of companies launching powered wheelchairs.
Recent Market Developments:
In February 2022, Invacare Corporation announced the introduction of its next generation of power assist devices the e-fix eco. The e-fix eco power assist transforms a manual wheelchair into a portable power chair via a joystick, battery, and in-wheel motors.
In January 2022, Invacare Corporation introduced the Invacare AVIVA STORM RX Narrow Base Power Wheelchair. This model offers several new features compared to the standard version of itself.