The World Health Organization stats that 10% of the world's population has disabilities from which 10% are in need of a wheelchair. The vast majority of these users are over 65 years old. The oldest of the “baby boomer” generation will be turning 65 in 2011.
As that population continues to age, the market’s demand for rehabilitation services should continue to expand. According to the American Health Association, individuals 65 and older are the fastest growing sector of the U.S. population. There are currently three, 3 million of users and more than 67 millions worldwide.
Facts and Numbers
- $2.9 Billion expected for the manual wheelchair market by 2018
- $3.9 Billion expected for the power wheelchair market by 2018
- There are an estimated 3.3 Million wheelchair users in the United States and the number is increasing every year
- The demand for wheelchairs is increasing due to the large need among the baby boomer generation
- 98% of public transit buses in the United States are equipped with wheelchair accessible ramps
- One out of every two taxi cabs in New York City will be wheelchair accessible
- The wheelchair industry revenue grew at an average annual rate of 2.5% from 2009 to 2014
- There are about 2 Million new wheelchair users every year
- 1.825 million wheelchair users are the age 65 or older
- 17.4% of working-age wheelchair users have jobs
- 11.2% of adult wheelchair users have graduated from college, compared to 21.6% of the general adult population
Currently the wheelchair market revenue grows 2.5% annually with almost 2 million new wheelchair's users each year. Global market of wheelchairs (Powered and Manual) is forecast to reach 10, 6 million units by 2020.
The global physiotherapy equipment market poised to reach $19,00 billion by 2019 from $15.00 billion in 2015, at a CAGR of 6.8% from 2015 to 2019.
That sector accounts for the greatest portion of healthcare spending, as the average person over 65 spends $9,696 annually, compared to $6,138 for the next highest group.
US Outpatient Rehabilitation Expenditures 40B$ in 2018Y CAGR 7%
A key factor driving growth in the market is the increasingly productive, independent and active lifestyles led by disabled population, encouraged by positive changes in society's attitude towards disabilities and government initiatives to implement equal opportunity legislation for differently abled persons.
US represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market over analysis period with a projected CAGR of 15%.