North America Wheelchair Market Size, Share & Trends Analysis Report By Product (Manual, Electric), By Category Type (Adult, Pediatric), By Application, By Region, And Segment Forecasts, 2023 - 2030
New York, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Wheelchair Market Size, Share & Trends Analysis Report By Product, By Category Type, By Application, By Region And Segment Forecasts, 2023 - 2030" - https://www.reportlinker.com/p06377981/?utm_source=GNW
North America Wheelchair Market Growth & Trends
The North America wheelchair market size is expected to reach USD 2.9 billion by 2030, expanding at a CAGR of 7.1% from 2022 to 2030. This is mainly due to an increase in the adoption of advanced, compact, and portable mobility aids on account of the growing target population in the U.S. Rising geriatric population is most likely to create higher demand for mobility products, such as wheelchairs.
As per the U.S. Census Bureau, mobility is the most common disability among older Americans in 2022. 61 million adults live with a disability in the U.S. today, out of which, 13.7% have mobility disabilities with serious difficulties faced while walking or climbing stairs.
The COVID-19 pandemic exacerbated a global shipping and logistics crisis in early 2020, resulting in container shipping shortages and rising costs.This has led to various interruptions and can continue the worldwide disruptions to trade in the near future.
It also made it difficult for wheelchair manufacturers to obtain the necessary products, components, and raw materials. However, companies are anticipated to restart operations due to the ease of lockdown, which will support market growth in the years to come.
According to the Urban Institute, the number of Americans above 65 and older will double over the next four decades, reaching 80 million by 2040.An increasing number of elderly people coupled with rising incidents of falls among the elderly is projected to drive demand for mobility aids during the forecast period.
Aging is considered to be the greatest risk factor for developing chronic conditions.Hence, with the growing geriatric population, the prevalence of chronic conditions, such as diabetes, cardiovascular disorders, arthritis, & other lifestyle disorders is expected to increase, aiding the market growth.
The elderly remain the key target population for personal mobility devices like wheelchairs.
North America Wheelchair Market Report Highlights
• The manual wheelchair product segment dominated the market with the largest revenue share of more than 61.1% in 2022. This growth can be attributed to the high product demand due to its low cost, weight, and non-dependability on charging
• The adult category segment accounted for the highest revenue share of over 69.1% in 2022. This is owing to the fact that adults have a higher rate of spinal injuries, neuromuscular diseases, and trunk/neck weakness than children
• The rehabilitation centers application dominated the market with a revenue share of more than 34.1% in 2022
Read the full report: https://www.reportlinker.com/p06377981/?utm_source=GNW
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