The pediatric wheelchairs market studied was projected to register a CAGR of nearly 5.3% over the forecast period. The major factor attributing to the growth of the market is the increasing incidences of disabilities in children.
- According to the National Center on Birth Defects and Developmental Disabilities around 10,000 babies are born each year with cerebral palsy in the United States only. Furthermore, the growing investments in research and development programs by the government and other major players for product development have been boosting the studied market's growth.
- However, the high cost of the wheelchairs especially in developing countries, where poverty and disability go hand in hand, acts as the major drawback for the market growth.
Key Market Trends
Manual Wheelchairs Segment Dominates the Market and is Expected to do so in the Forecast Period.
- There has been a growing demand for manual pediatric wheelchairs globally, owing to their affordability, lightweight, and non-dependability on charging. In addition, they occur in a range of configurations, from standard to ultra-lightweight, requiring less space for storage with various customization options, such as foldable or completely collapsible wheelchairs.
- Apart from the advantages of the manual pediatric wheelchairs, the other factors that drive the growth of the segment are the increasing prevalence of physical disability either due to injury or due to birth defects like epilepsy, Spinal Bifida, cerebral palsy, etc. According to the Spina Bifida Association, every day, about eight babies born in the United States have Spina Bifida or a similar birth defect of the brain and spine. Furthermore, increasing funding for the pediatric wing by governments has been boosting the market studied.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall pediatric wheelchairs market, throughout the forecast period. The market growth is due to factors, such as the presence of key players, high prevalence of physical disability in the region, established healthcare infrastructure, which are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth. In this region the United States has the maximum share due to supportive healthcare policies, the high number of patients, and a developed healthcare market.
The pediatric wheelchairs market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Ottobock, MEYRA GmbH, Sunrise Medical, SORG Rollstuhltechnik GmbH, Invacare, Momentum Healthcare, Permobil, AKCES-MED sp. z. o.., and Medline, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support