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Opportunities For The Global Wheelchair Market To Reach $7.5 Billion By 2024
According to a new market report published by Lucintel, the future of the global wheelchair market looks promising with opportunities in homecare and health institutions. The global wheelchair market is expected to reach an estimated $7.5 billion by 2024 with a CAGR of 7.2% from 2019 to 2024. The major drivers for this market are growing elderly population, rising spinal cord injuries, and increasing obesity rate.
In this market, manual wheelchair and power wheelchair both are used to provide mobility solutions to end users. Lucintel forecasts that the power wheelchair is expected to witness the highest growth during the forecast period due to increasing demand for multi-functionality wheelchair, such as tilt in, reclining, and standing wheelchair.
Within this market, basic, sports, bariatric, and standing wheelchairs are used in various applications. Basic wheelchair will remain the largest segment due to easy availability and low cost.
North America will remain the largest region due to an increasing obesity rate and growing elderly population. Asia Pacific is expected to witness the highest growth rate ...
... over the forecast period due to increasing government healthcare expenditure, rising disabled population, and increasing in development of medical facilities.
Emerging trends, which have a direct impact on the dynamics of the industry, include increase adoption of power assistance device and development of hybrid concept wheelchair. Invacare, Pride Mobility Products, Sunrise Medical, Ottobock, Permobil, Drive Medical, LEVO, and 21st Century Scientific are among the major suppliers of wheelchair market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global wheelchair market by product, category, design and function, end use, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global wheelchair Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global wheelchair market by product, category, design and function, end use, and region, as follows:
By Wheel Chair Type [Value ($B) and Volume (Thousand Units) from 2013 to 2024]:
• Manual Wheelchair
• Power Wheelchair
o Front Wheel Drive
o Central Wheel Drive
o Rear Wheel Drive
o Standing Electric Wheelchair
By Category [Value ($ Billion) from 2013 to 2024]:
• Adult Wheelchair
• Pediatric Wheelchair
By Design and Function [Value ($ Billion) from 2013 to 2024]:
• Basic Wheelchair
• Sports Wheelchair
• Bariatric Wheelchair
• Standing Wheelchair
By End Use [Value ($B) from 2013 to 2024]:
• Healthcare Institution and Others
By Region [Value ($ Billion) from 2013 to 2024 and Volume (Thousand Units)]:
• North America
o United Kingdom
This 172-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include chemical market research reports, chemical industry analysis report, commercial due diligence report, business strategy consulting and market research reports online.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q.1 What are some of the most promising, growth opportunities for global wheelchair market by product (manual and power wheelchair), category (adult and pediatric wheelchair), function (basic, sports, bariatric, standing wheelchair, and others), end use (homecare and healthcare institution and others), and region (North America, Europe, Asia Pacific (APAC), and the Rest of the World (ROW))?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11 What M & A activity has occurred in the last 5 years?
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