Global Wheelchair and Components Market: Overview

The wheelchair and components market are extremely fragmented. The global market is competitive in nature, and companies are usually competing on the basis of factors like innovations, price, and quality. The development in services of after treatment is one of the prime aspects boosting the wheelchair and components market. For post-treatment facilities like intensive, critical, and neonatal care, the patients are held under observation and unfit to move without help. These patients need powered mobility gadgets and propelled attendant, driving the interest for enhanced clinical mobility items by post-treatment service units. Based on the powered, criticality, or manual wheelchairs are majorly utilized as patient transfer gadget in hospitals and other medical clinics. This is driving the interest for wheelchairs and components market.

Global Wheelchair and Components Market: Notable Development

  • As stated by WHO, the wheelchair is a standout amongst the most normally utilized assistive gadgets for improving the personal mobility of people with inabilities. An expected 1% of the total populace, or a little more than 65 mn individuals, need a wheelchair. In most emerging nations, few of the individuals who need wheelchairs have access, manufacturing services are lacking, and wheelchairs are regularly donated without the vital related facilities.
  • It is assessed that there are in excess of 70 million individuals overall who require wheelchairs, yet just 5-15% of individuals have access. Individuals in emerging economies regularly rely upon the donation of wheelchairs, which are usually of low quality and not appropriate either for the consumers or for their condition. Rehabilitation and health professionals are not constantly prepared properly to guarantee individuals with disabilities have a quality wheelchair.
  • After broad professional consultations, field tests and an expert survey, WHO came in association with the United States Agency for International Development (USAID). Combinedly, they have developed the Wheelchair Service Training Package which is for the basic level. World Health Organization has also developed the Wheelchair Service Training Package which is for the intermediate level that has been launched in June 2013.

Key market players in the wheelchair and components market are the Handicare, Panthera X, Sunrise Medical, Invacare Corp., and Pride Mobility Products Corp. These prime enterprises are presenting quick advances with the goal that their portfolio is extended everywhere throughout the wheelchairs and components market. The principle reason behind such developments is the way that end users may get an autonomous way of life regardless of their inabilities.

Global Wheelchair and Components Market: Key Drivers

Expanding maturing populace and expanding weaknesses to serious wounds will remain the essential impetus for the wheelchair and components market. Rising occurrences of road accidents prompting towards serious wounds are projected to fuel the interest for wheelchairs and components market.

Rising occurrences of spinal cord wounds results in handicap is likewise foreseen to continue the demand for the wheelchairs and components market universally. Positive government activities and investing on programs for wheelchairs will bolster the market.

Global Wheelchair and Components Market: Geographical Distribution

Geographically, the wheelchair and components market are led by North America and are expected has the maximum revenue shares of the wheelchair and components market. On the other hand, the Asia Pacific will have the highest growth of the wheelchair and components market in the forthcoming year. This is owing to increasing government investments, along with it, the corporate funding to standardize the wheelchair and components market in the region.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Wheelchair Components Market

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