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Asia-Pacific Wheelchair Market Research Report, 2028

Asia-Pacific Wheelchair Market Research Report, 2028

Actual Market Research 31-03-2023 100 Pages Figures : 15 Tables : 25 Region : Asia-Pacific Category : Consumer Goods & Services Household Goods

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1. Medline Industries, Inc.

2. Invacare Corporation

3. Karma Healthcare Limited

4. ridedesigns

5. Levo AG

More...

According to the World Health Organization (WHO), approximately 80 million people in the Asia-Pacific region live with a disability, and many of them require wheelchairs. The Asia Pacific is expected to be one of the most attractive markets for wheelchairs, due to an increase in per capita income levels and growing healthcare awareness among people across different countries such as China, India, Indonesia, and Malaysia. Rising demand for smart wheelchairs among disabled users with mechanical, perceptual, or cognitive decline may be viewed as a growth opportunity in Asia-Pacific countries. Furthermore, an increase in the number of traffic accidents, an increase in the number of people with physical abnormalities, and an increase in consumer spending power in Asia-Pacific countries are some of the factors driving market growth in this region. The growing population of physically challenged and elderly people in the Asia-Pacific region is driving up demand for wheelchairs. The region's wheelchair market is also being propelled by an increase in chronic diseases and traffic accidents. It is estimated that roughly one-third of the population in East and North Asia will be 60 or older, compared to one in every four people in North and Central Asia. Manual wheelchairs are the most popular type of wheelchair in Asia-Pacific due to their low cost, easy rental availability, and low maintenance. Aside from advancements in healthcare facilities and increased government efforts to provide superior mobility equipment, the area is supported by a large population base in countries such as India and China. According to the research report, "Asia-Pacific Wheelchair Market Research Report, 2028," published by Actual Market Research, the market is forecasted to grow at a 9.06% CAGR. The aging population is growing rapidly, faster than all the other regions of the world. As per the statistics provided by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), 60% of the people aged 60 or older worldwide reside in the Asia-Pacific region. The number of people above 60 years of age in Asia-Pacific is anticipated to grow to over 1 billion by 2050. People who are too old require the assistance with mobility that a wheelchair can provide. Likewise, the demand for wheelchairs is growing in the APAC region. Also, according to the findings, there were over 23000 government hospitals in India, of which 19000 were located in rural areas and over 3000 in urban areas. The growing number of government programs, initiatives, and investments is enabling the growth of medical technologies, which is eventually leading to the medical devices market's growth. For example, the National Medical Products Administration (NMPA) of China announced in August 2019 that it was expanding its Medical Device Marketing Authorization Holder (MAH) pilot program from Shanghai, Beijing, Guangdong, and Tianjin to 21 other cities and provinces. The program enables medtech companies to distribute research and development and manufacturing activities across pilot cities and provinces. As a result of such initiatives, device manufacturing and research and development facilities would concentrate on developing concepts and technologies for home care settings and other healthcare options. Advances in homecare products and services, as well as growing acceptance for them, are creating opportunities for the future growth of Asia Pacific wheelchair market players. Furthermore, market expansion benefits countries with a large senior population, such as Japan. In Japan, people over a certain age accounted for a certain percentage of the population, the highest proportion in the world. However, the way of life in the area may render wheelchairs obsolete. Furthermore, increased vehicle adoption in countries such as China, India, South Korea, and others has resulted in increased traffic and, as a result, an increase in the number of road accidents in the Asia Pacific region, excluding Japan. Because of improvements in healthcare facilities and growing government initiatives to provide quality mobility devices, the region is supported by a large population base in countries such as India and China. China and India are the Asia-Pacific region's two most populous countries. China is considered an aging economy, with over 241 million people over the age of 60. Furthermore, due to the country's aluminum production hubs and major players, China produces a larger portion of the world's electric wheelchairs. India is the second-most populated country in the world. A disability affects approximately 2% of the total population, and approximately 30% have mobility impairments and require assistance. In terms of road accidents, India ranks first among all countries. As a result, the increasing number of injured people as a result of road accidents is likely to contribute to the growth of the wheelchair market in India. The Asia Pacific Wheelchair Market is likely to be the fastest-growing region in the global wheelchair market, owing to the rising disabled population and the increasing development of medical facilities. Emerging countries are experiencing improvements in healthcare facilities, a rise in technological innovations, and government initiatives to offer quality mobility devices. However, inaccessibility to wheelchair users in public buildings, as well as the high cost of mobile devices and vehicle modifications, is expected to limit market growth. In addition, the increase in the requirement of the smart wheelchair for disabled users with motor, sensory, or cognitive impairments could be considered a growth opportunity for this market in Asia-Pacific countries. Furthermore, the extensively increasing awareness among Asian consumers regarding enhancing the quality of life has also increased. Many buildings, streets, and public transportation systems in the Asia-Pacific region are not wheelchair-friendly. This makes it difficult for people with mobility impairments to access public spaces and travel around cities. Disability rates in the Asia-Pacific region are relatively high compared to other regions of the world, which means there is a greater need for wheelchairs and other mobility aids. Access to healthcare in the Asia-Pacific region can be limited, particularly in rural areas. Wheelchairs can help people with mobility impairments access healthcare services more easily. The Asia-Pacific region is prone to natural disasters such as earthquakes, typhoons, and tsunamis. In these situations, wheelchairs can be essential for people with mobility impairments to evacuate safely. According to the report, the market is segmented into various applications such as homecare, hospitals, ambulatory surgical centers, and rehabilitation centers. Among them, hospitals are projected to lead the market by the end of the forecast period with over 30% market share. These facilities require wheelchairs to provide mobility assistance to patients with mobility impairments. Therefore, the segment is expected to witness growth due to the increasing number of healthcare facilities in the region. On the other hand, other applications, such as airports, shopping malls, and other public places that require wheelchairs to provide mobility assistance to customers with disabilities, are also expected to witness increasing demands across the region. This segment is expected to witness growth due to increasing awareness and government initiatives towards making public places more accessible for individuals with disabilities. Based on function, the market is segmented into basic, sports, bariatric, and other wheelchairs. Among them, basic wheelchairs are leading the market in 2022, whereas sports wheelchairs are projected to grow with a prominent CAGR by 2028. Basics are particularly important in the Asia-Pacific region due to their affordability, ease of use, and low maintenance requirements. These wheelchairs provide basic mobility assistance to individuals with mobility impairments and allow them to perform daily activities with greater independence and dignity. Improving access to basic wheelchairs is a critical step towards promoting the inclusion and empowerment of individuals with disabilities in the Asia-Pacific region. This can be achieved through government initiatives, partnerships between non-profit organizations and private companies, and increased awareness of the importance of mobility devices for individuals with disabilities. Partnerships and expansions in Asia-Pacific: • The Japanese company WHILL has partnered with Panasonic Healthcare to develop and market innovative mobility products, including power wheelchairs, to the global market. • The German company Ottobock has expanded its operations in the Asia-Pacific region with the opening of new offices and manufacturing facilities in China, South Korea, and Australia. This will enable the company to better serve customers in the region and develop new products tailored to local needs. • The Chinese company Airwheel has expanded its distribution network in Southeast Asia with the opening of new offices and partnerships with local distributors. This will enable the company to better serve customers in the region and to expand its market share. • Japanese automaker Toyota has partnered with WHILL to develop a new line of electric wheelchairs that are designed to be more comfortable, efficient, and accessible for users. The companies are also collaborating on the development of mobility solutions for urban environments. • Taiwanese company Karma Healthcare has expanded its operations in India with the opening of new manufacturing facilities and partnerships with local distributors. This will enable the company to better serve customers in the region and to expand its market share. Companies Mentioned in this Report: Karma Medical Products Co., Ltd., Ride Designs, Invacare Corporation, Levo AG, Matia Mobility, Medline, Ostrich Mobility Instruments Pvt. Ltd, Otto Bock, Permobil AB, Pride Mobility Products Corporation, Sunrise Medical LLC, Drive DeVilbiss Healthcare, Etac AB, Eurovema AB Considered in this report • Geography: Asia-Pacific • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Asia-Pacific wheelchair market with its value and forecast along with its segments • Country-wise wheelchair market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report: • China • Japan • India • Australia • South Korea By Product type: • Electric & Powered Wheelchair • Manual Wheelchair By Category Type: • Adult • Paediatric By Application Type: • Homecare • Hospitals • Ambulatory Surgical Centers • Rehabilitation Centers The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Wheelchair industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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