The manual wheelchair market, valued at $1.8 billion in 2011 has been forecast to reach a market value of $2.9 billion by 2018.
Growth within the market is expected to be a result of vendor achievement of marked improvements in the technology that provide patients and care givers with better wheelchairs.
The growth within the manual wheelchair market is only expected to be modest as new materials and more lightweight chairs increase efficiency in hospitals and nursing homes.
The manual wheelchair market looks set to face a number of challenges in the future as new and more efficient power wheelchairs begin to challenge its market dominance. One of the main disadvantages of using manual wheelchairs has to do with the upper body, over time this same motion can lead to injury. Furthermore, users of a manual wheelchair have to inflate the tires and constantly keep the body of the chair in line.
More and more units are being manufactured more inexpensively in Asia, meaning in turn they are providing higher quality at less cost.
The US represents the largest regional market for manual wheelchairs on a global basis. While aging baby boomers are expected to be the key drivers for wheelchairs in the US, growth is expected to be stifled by factors such as lower reimbursement rates and Medicare repayment procedures.
Europe trails behind the US market, while growth in the manual wheelchair market is expected to be driven by regions such as, Japan, Asia-Pacific, and Latin America. Japan, in particular, is projected to be the fastest growing market for wheelchairs in terms of unit as well as value sales.
For more information on the manual wheelchair market, see the latest research: Manual Wheelchair Market Report
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.