India Wheelchair Market to Grow at a CAGR of 7.87% through 2028F
Increasing spinal cord
injuries and rising geriatric population are driving the growth of India
wheelchair market in the forecast period, 2023-2028.
According to TechSci Research
report, “India Wheelchair Market – By
Region, Forecast and Opportunities, 2018-2028”, the India Wheelchair
market stood at USD188.13 million in 2022 and is anticipated to grow with a
CAGR of 7.87% in the forecast period, 2023-2028. This can be attributed to the
growing disabilities among the population, especially among the elderly
population. The elderly population is more susceptible to injuries and falls,
thereby leading to instances of disabilities among the population. India's
elderly population is expected to reach 194 million by 2031 from 138 million in
2021. This, in turn, will increase the demand for different mobility aid
medical devices, especially wheelchairs in the country.
Additionally, the
growing demand for wheelchairs from various healthcare institutions, commercial
establishments such as malls, shopping centers, and airports, among others, is
expected to support the market growth. India has also witnessed an increase in
demand for wheelchairs for personal purposes in tier 1 cities. The demand for
bariatric wheelchairs has also significantly increased in the country, owing to
the growing prevalence of obesity. A lot of bariatric ambulatory surgical
centers are established, which continuously generate demand for these
wheelchairs, thereby driving the market growth.
However, the high cost
of wheelchairs, especially the powered ones, leads to affordability constraints
in the country, especially in the tier-3 cities and rural parts of the country.
Even the adoption and use of manual wheelchairs are quite less in rural parts
of the country. This has also led to an increase in the demand for refurbished
wheelchairs, thereby restricting the sales and demand for new wheelchairs.
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"India Wheelchair Market"
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The India wheelchair
market is segmented into product type, category, application, type of institution,
distribution channel, region, and company.
Based on product type,
the market is split into manual wheelchairs and powered wheelchairs. Manual
wheelchairs dominated the market in 2022 with an overall share of around 83.75%
and are expected to continue maintaining their dominance during the forecast
period. This can be ascribed to the ease of use and low cost of manual
wheelchairs. Additionally, the increasing demand for manual wheelchairs for
transportation of patients and disabled people from various healthcare and
non-healthcare institutions is further expected to support the segmental
growth.
In terms of application,
the market is divided into institutional and personal. The institutional
segment dominated the market in 2022 on account of the growing demand for
wheelchairs from various healthcare and non-healthcare institutions for the
transport of patients.
Regionally, South India
accounted for the largest market share in the India Wheelchair market due to
increased acceptance of advanced, integrated, and portable wheelchairs by the
intended population in the South region. As the population of the South becomes
more interested in modern technology and innovations, as well as improving
their lifestyle, and as the public becomes more aware of wheelchairs as a
result of their high literacy rates, there is an increased demand for
wheelchairs in the region.
The leading companies
operating in the India wheelchair market are:
·
Karma Healthcare Ltd.
·
OttoBock Healthcare India Pvt. Ltd.
·
Vissco Rehabilitation Aids Private Limited
·
Ostrich mobility instruments Private Limited
·
Pride Mobility Products Corp.
·
Forza Medi (India) Pvt. Ltd.
·
Stryker India (Stryker Corporation) Pvt. Ltd.
·
Silverline Meditech Pvt. Ltd.
·
Forza Medi (India) Pvt. Ltd.
·
Vissco Rehabilitation Aids Pvt. Ltd.
India wheelchair market
is a highly fragmented market with few well-established domestic players and
some international players. The market is also dependent on imports, with most
of the imports being done from countries like China. However, in the coming
years, a lot of emerging domestic players can be witnessed on account of
supportive government policies such as the Production Linked Incentive Scheme,
Make in India, among others.
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“The growing incidents
of road accidents within the country lead to a lot of spinal injuries,
fractures, and disabilities among the population, which creates demand for
wheelchairs for providing assistance with mobility. This, in turn, is expected
to support the growth of the wheelchair market within the country. Furthermore,
growing awareness and demand for sports wheelchairs and bariatric wheelchairs
is expected to create lucrative opportunities for the market growth in the
coming years, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Wheelchair Market
By Product Type (Manual v/s Powered), By Application (Institutional v/s
Personal), By Category (Adult v/s Pediatric), By Distribution Channel (Retail
Sales v/s Non-Retail Sales), By Region, Competition, Forecast &
Opportunities, 2028F”, has evaluated the future
growth potential of India wheelchair market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India wheelchair market.
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