Forecast Period
|
2024-2028
|
Market Size
(2022)
|
USD 50.23 million
|
CAGR
(2023-2028)
|
6.21%
|
Fastest Growing
Segment
|
Manual
Wheelchair
|
Largest Market
|
Central Vietnam
|
Vietnam Wheelchair Market is expected to grow at an impressive rate
during the forecast period 2024-2028. The major factors include the rising
prevalence of spinal cord injuries and rising geriatric population.
A wheelchair is
a personal or automatic device, designed for use by individuals with mobility
impairment. It is mainly used for both internal and external locomotion. Rising
life expectancy and adult population around the country is one of the main
factors that will contribute to the market growth.
Additionally,
the prevalence of various diseases among the youth due to their everyday
lifestyle is a major factor that drives this segmental growth. The number of
road accidents is increasing, leading to issues related with spinal cord and
bone fracture. Furthermore, advancements in basic wheelchairs and making them
more equipped with technology and comfort are the major drivers that increase
the production of more newly launched wheelchairs in Vietnam. This, in turn, is
anticipated to positively impact the market growth.
In
addition, wheelchair manufacturers are moving beyond basic manual wheelchairs.
They are coming up with new models to aid the user and make things easier to
move around easily and independently. New advanced technology like power
wheelchair with enhanced control system, exoskeleton and robotic assisted
wheelchair is used to develop the easiest handling and cost-effective
wheelchairs for the users and it leads to enhance the growth of wheelchair market.
Technology
Advancement in Wheelchair Industry Driving the Market
Growth
The
ever-increasing integration of automation into health care equipment,
especially portable, and light-weight wheelchairs is a parameter of impact,
aimed at supporting market growth. Wheelchairs today are integrated with
seamless circuits, guide sensors, steering wheel, and a few controls to make
the trip easier and smoother for patients. The introduction of battery-powered
electric wheelchairs is helping the users at a better level. In line with the
development of wheelchair, many companies offer new features that can keep and
connect the device with a patient's health history. These includes features
such as emergency call alarms and monitoring their health with vital signs.
Invacare AVIVA FX Power Wheelchair is
a front wheel drive power wheelchair and the first entry under the AVIVA family
name. It helps to make short work of curbs, slopes, and uneven areas while
keeping the user in control and comfortable.
Rising
Cases of Road Accidents
Road
accident-related deaths in Viet Nam has been decreasing over the recent years.
This is due to non-use of helmet and driving under the influence of
alcohol. The issuance of the National plan for awareness raising of
drink-driving law, 2015 – 2020 were enforced, which outlined specific actions
to curb the problem of drink-driving in the country which further demonstrated
the government’s long-term commitment in effectively managing road safety. According
to the latest WHO data published in 2020 Road Traffic Accidents Deaths in Viet
Nam reached 29,475 or 4.30% of total deaths. Therefore, WHO Vietnam has
supported the development of key policies addressing risk factors, such as
non-use of helmets among children, as well as drink-driving policy enforcement.
According to the National Committee for Traffic Safety, in the first eight
months of 2022, there were more than 4,270 traffic fatalities, an increase of
8.67% from the same time in 2017.