Valued at US$ 5,236.5 Mn in 2015, the global wheelchair and components market is expected to attain a value of US$ 7,535.7 Mn by 2026-end. Over a 10-year forecast period, the market will witness a CAGR of 3.5%. In a recently published report titled “Global Wheelchair and Components Market 2016-2026,” Persistence Market Research offers vital insights into various factors impacting the global wheelchairs and components market during the period 2016 – 2026.
The wheelchair market will approach US$ 7.53 Bn, demonstrating a CAGR of 3.5% over 2016-2026. This market will reach 10,690.7 thousand units by 2026-end
By application, manual wheelchairs will continue to hold a dominant share of over 62% in 2026. By geography, North America’s revenue share will reportedly drop from 33.6% to 32.0% in 2026. APAC will also lose its share from 28.3% to 27.2% in 2026. Europe will however showcase significant growth, accounting for over 20% share by 2026-end.
The wheelchair components market is expected to reach US$ 6.68 Bn in 2026, expanding at a CAGR of 3.9%.
By application, manual wheelchairs are anticipated to monopolize the market with around 70% revenue sales, whereas powered wheelchairs will capture around 18% share in 2026.
|To Remain ‘Ahead’ Of Your Competitors, Request for a Sample Here @ https://www.persistencemarketresearch.com/samples/12961|
On the basis of technology, continuous fiber composites will dominate over discontinuous fiber composites and metal. While continuous fiber composites will remain dominant with over 42% share, metal will account for over 36% value share by 2026-end.
In terms of wheelchair components by application, hand rims and wheel rims sub-segment is likely to account for over 36% share, closely followed by frames with over 35% share in 2026.
Key market drivers
Augmenting aging population and increasing susceptibility to severe injuries will remain the primary driving force for the global wheelchair and components market. Rising incidences of road accidents leading to severe injuries are expected to further fuel the demand for wheelchairs and components.
Growing instances of spinal cord injuries resulting in physical disability is also anticipated to sustain the demand globally. Favorable government initiatives and funding programs for wheelchairs will support the market.
As the wheelchair industry is undergoing several developments and innovations, the market for wheelchair and components is anticipated to gain a boost in near future. Immense advancements in the composites production technology will also influence the market growth positively.
A few trends and opportunities will shape-up the market by 2026 end
Emergence of electronic control drivetrains, artificial intelligence, improved power capacities, and multistage gearboxes will continue to play a crucial role in meeting differentiating needs of disabled patients.
Attributed to introduction of composite materials and engineering plastics, the market is witnessing a growing trend of demand for lightweight and ultra-lightweight wheelchairs.
Use of sensors, motor control software, wireless devices, and other technologies in wheelchairs are a few among the trending developments in the global wheelchair and components market.
OEMs are increasingly partnering with recognized composite materials manufacturers. Developing cost-effective products for penetrating in expanding Asian market can be lucrative in terms of tapping into the significant growth potential in emerging economies.
For Critical Insights On The Wheelchair And Components Market, Request For Customization Here @ https://www.persistencemarketresearch.com/request-customization/12961
The regional analysis delivers key insights into the potential of the market in various regions across the globe
APAC is identified to have the most lucrative revenue potential; China, India, and ANZ will prominently underpin the demand for wheelchairs and components in APAC market. The US$ 1,453.3 Mn APAC market is likely to register a relatively higher CAGR of 4.0%, primarily driven by Australia and New Zealand. China and India will also generate significant demand, collectively accounting for over 28% share of the APAC in the global market by 2026-end.
Investments by leading wheelchair and components manufacturers are ramping up in developing Asian and BRIC countries. Domestic demand is growing at a rapid pace, which is likely to bring in a new wave of opportunities for manufacturers in these regions.
Over the assessed period, North America will showcase a decent growth rate. This region will maintain a dominant share in terms of value as well as volume sales throughout the forecast period. The growth of North American market will be primarily driven by the strong presence of a majority of manufacturers in this region.
Key market players target product innovation and positioning
- Invacare Corp.
- Panthera X
- 21st Century Scientific Inc.
- OttBock Healthcare GmbH
- Pride Mobility Products Corp.
- Permobil AB
- Sunrise Medical
- Hoveround Corp.
- Meyra Wilhelm Meyer GmbH & Co. KG
Company Components Suppliers
- Tetra Equipment
- Custom Engineered Wheels
- The Wheelchair Place, LLC
- Alber (Frank Mobility)
For In-Depth Competitive Analysis, Buy Now @ https://www.persistencemarketresearch.com/checkout/12961
Company Material Suppliers
- Toray Industrial
- Toho Tenax
- Mitsubishi Rayon
- Cedar Composites Technology Co. Ltd.
More About the Report –
Unprecedented access to a world of information has given rise to the empowered, albeit distrustful, consumer. So is the case with healthcare, where the patient has been rendered more informed and conscientious thanks to the extraordinary penetration of the Internet. The discerning patient now demands more affordable, sophisticated, transparent, and personalized healthcare services, creating the need for new models for care.
The advent of health information technology (HIT) components such as electronic health records (EHR), hospital information systems (HIS), picture archiving and communication systems (PACS), and vendor-neutral archives (VNA) has had just as transformational an impact on the overall healthcare sector as the concerns regarding security and privacy. Data theft, undue access to personal health records, and cyber-attacks are very real threats that the healthcare sector faces today.
Explore Extensive Coverage of PMR`s Life Sciences & Transformational Health Landscape
According to a report published by Persistence Market Research (PMR), the global animal healthcare market is expected to witness a CAGR of 4.8% from 2017 to 2025. In 2017, the market was worth US$ 30,744.2 Mn and is estimated to rise to a valuation of US$ 44,847.2 Mn by the end of 2025.
According to a new market report published by Persistence Market Research “Global Market Study on Dental Implants – Asia Pacific to Witness Fastest Growth by 2020,” the global Dental implants market was valued at USD 4,508.9 million in 2014 and is expected to grow at a CAGR of 9.7% from 2014 to 2020, to reach an estimated value of USD 7,879.5 million in 2020.
Globally, rising aging population has increases the demand for dental implants in the market. As a result, the market is expected to grow at a CAGR of about 9.7% from 2014 – 2020.
According to a new market report published by Persistence Market Research “Global Market Study on Bioinformatics – Asia to Witness Fastest Growth by 2020,” the global bioinformatics market was valued at USD 4,110.6 million in 2014 and is expected to grow at a CAGR of 20.4% from 2014 to 2020, to reach an estimated value of USD 12,542.4 million in 2020.
Globally, rising R&D expenditures and a rising number of research activities have increased the demand for bioinformatics in the market. As a result, the market is expected to grow at a CAGR of about 20.4% from 2014 – 2020.
According to a new market report published by Persistence Market Research “Global Market Study on Hospital Beds: Asia to Witness Highest Growth by 2020”, the global hospital beds market was valued at USD 5,254.2 million in 2014 and is expected to expand at a CAGR of 4.2% from 2014 to 2020, to reach an estimated value of USD 6,731.8 million by 2020.
According to a new market report published by Persistence Market Research titled Global Market Study on Cleanroom Technology: Consumables to Witness Highest Growth by 2020, the global cleanroom technology market was valued at USD 3,156.0 million in 2014 and is expected to grow at a CAGR of 5.2% from 2014 to 2020 to reach an estimated value of USD 4,290.1 million by 2020.
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.