Based on the forecast data, the import value of wheelchairs not mechanically propelled to Malaysia in 2024 is $7.1263 million, with a steady increase each year up to $7.8953 million in 2028. In 2023, the actual import value stood at $6.9450 million. Year-on-year percentage variation from 2024 to 2025 is 2.78%, from 2025 to 2026 is 2.65%, from 2026 to 2027 is 2.53%, and from 2027 to 2028 is 2.42%. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is approximately 2.60%.
Future trends to watch for:
- Potential increases in demand due to an aging population.
- Changes in healthcare policies may impact import volumes.
- Technological advancements in wheelchair design could influence market dynamics.
- Global economic conditions and trade policies may affect import costs and volumes.