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Asia Pacific Wheelchair Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product ; Type ; End User ; Application ; Usage ; Distribution Channel

Asia Pacific Wheelchair Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product ; Type ; End User ; Application ; Usage ; Distribution Channel

  • July 2021
  • 147 pages
  • ID: 6134262
  • Format: PDF
  • The Insight Partners

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The wheelchair market in Asia Pacific is expected to grow from US$ 1,095.8 million in 2021 to US$ 1,802.1 million by 2028; it is estimated to grow at a CAGR of 7.4% from 2021 to 2028.

The growing number of government programs, initiatives, and investments are enabling the growth of medical technologies, which is eventually leading to the home medical devices market growth.For instance, in August 2019, the National Medical Products Administration (NMPA), China, announced the expansion of its Medical Device Marketing Authorization Holder (MAH) pilot program from Shanghai, Beijing, Guangdong, and Tianjin to 21 other cities and provinces.

The program allows medtech companies to allocate R&D and manufacturing activities across pilot cities and provinces.As a result of such initiatives, device production and R&D facilities would focus on innovating concepts and technologies for home care settings and other healthcare options.

Advancements in homecare products and services as well as growing acceptance for the same are providing opportunities for the future growth of the wheelchair market players in Asia Pacific.

The Asia Pacific wheelchair market is segmented on the bases of product, type, application, end user, usage, and distribution channel.Based on product, the market is segmented into manual wheelchair, powered/electric wheelchair, and smart wheelchair.

In 2020, the manual wheelchair segment accounted for the largest market share.The market growth for this segment is attributed to the increasing prevalence of chronic conditions and rising demand for manual wheelchairs in emerging countries.

Moreover, the prevalence of knee pain has witnessed the massive growth of around 40.0% during past 4 decades. However, the powered/electric wheelchair segment is projected to register the highest CAGR during the forecast period.

Many measures have been implemented to contain the spread of novel coronavirus that causes COVID-19, which have resulted in significant operational disruptions for many industries, such as the wheelchair manufacturing industry.Staff quarantine, supply chain failures, and demand reductions have generated serious complications for companies.

Also, there has been a significant drop in in-patient and out-patient for private hospital chains.To relieve healthcare systems, many clinics are postponing noncritical surgical procedures related to orthopaedic and neuromuscular conditions.

To avoid overburdening hospitals, which are already struggling to deal with the rising pandemic pressure, doctors are delaying surgeries till the COVID-19 outbreak peak is past.Moreover, medical device companies are starting to forecast large sales declines in their business segments because people are staying at home.

Many big medical device companies, such as Stryker, Invacare corporation, and Medline Industries, have predicated the decline in sales in China. Hospitals across China, Hong Kong, and Taiwan are deferring surgeries to prevent the spread of the virus in the countries. Thus, the impositions of lockdown and barriers in supply chain of wheelchairs hindered the growth of the Asia Pacific wheelchair market in 2020, and it is continuing in 2021 also. Many countries, such as India, are conducting vaccination drives for adults. India has also initiated the testing of vaccine for children, which is expected to bring some positive prospects for the market.

The overall Asia Pacific wheelchair market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the Asia Pacific wheelchair market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia Pacific wheelchair market. Medline Industries, Inc., OTTOBOCK, MEYRA GMBH, KARMAN HEALTHCARE, INC, Sunrise Medical, LEVO AG, and Permobil are a few players operating in the market.

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