January 05, 2024 09:08 ET | Source: Research and Markets Research and Markets
Dublin, Jan. 05, 2024 (GLOBE NEWSWIRE) -- The "Manual Wheelchair Market Size, Share & Trends Analysis Report By Category (Adult, Pediatric), By End-use (Hospitals, Outpatient Facilities, Homecare) By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering. Cotton Surgical Caps
The global manual wheelchair market is poised for significant expansion, with latest analysis projecting its value to grow to USD 5.2 billion by the end of the decade. This remarkable upsurge correlates to a compound annual growth rate of 7.4% during the forecast period stretching from 2023 to 2030. Increased life expectancy rates and a growing elderly demographic are instrumental in driving the market to new heights.
An exhaustive segment-by-segment assessment has revealed that the 'Adult' category is set to lead revenue streams predominantly, thanks to the urgent need for mobility solutions among the aging population and surge in disability cases, like spinal cord injuries. On top of this, 'Hospitals' as an end-use segment, are reportedly retaining the highest revenue share, attributed to the influx of medical emergencies.
Much of this expansion can be accredited to North America. The region stands tall as the primary market, courtesy of its considerable target population and an unyielding tendency to embrace technologically enhanced mobility aids. This upward trajectory in the manual wheelchair sector can also be ascribed to the considerable surge in conditions necessitating assistive devices, with spinal cord injuries at the forefront. Pertinent data from the National Spinal Cord Injury Statistical Center notes an estimated 294,000 U.S. residents currently living with such injuries, alongside almost 17,730 new cases annually.
The COVID-19 pandemic laid bare the vulnerabilities of the global healthcare supply chain, temporarily disrupting the manual wheelchair market due to stringent lockdowns and preventative measures. However, as the pandemic abates, manufacturing operations for these mobility assisting devices have swiftly rebounded to pre-pandemic levels, heralding a promising return to normalization.
Manual Wheelchair Market Report Highlights:
In light of these compelling insights, the manual wheelchair market stands at the cusp of profound growth trajectories. The outcomes from this exhaustive market study offer a lucid understanding of varying dynamics shaping the market’s future, while delineating growth opportunities for key stakeholders within this sphere of healthcare and mobility aid. For more information about this report visit https://www.researchandmarkets.com/r/uiweyp
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