|
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.
Advancement
in Wheelchairs Drives Market Growth
Globally,
the wheelchair's most reliable features for users are being provided by ongoing
updates to the wheelchair's physiology and technological improvements. Wheelchairs
are now the preferred or significant option for users or patients due to the
addition of updated features like eye sensor controls, functioning controls
with AI automation or finger touch controlling, upgrades in customization such
as adding more comfort by cushioning, additional support for posture control,
and pressure reliver points. This implies ensuring more dependency and safety
to the user, thus increasing the market demand. In the upcoming years, the
market is predicted to rise due to newer wheelchair features such as reduced
manual handling controls, fewer attendant requirements, controlled motions, and
complete or semi-automation.
Rising
Spinal Cord Injuries and Other Disorders
Increasing
number of disabilities that require a mobile device like wheelchair is also one
of the key factors expected to contribute to the market growth. Spinal cord
injuries are one of the most common disabilities that require a walking
device/mobile device. . Therefore, Vietnam is expected to be a significant
market potential for mobile device manufacturers in the forecast years.
Rise in Disease Prevalence Among the
Elderly & Increasing Geriatric Population
One factor
driving up the demand for wheelchairs is the rise in disease prevalence among
the ageing geriatric population. The increase in wheelchair dependency for old
age people is nowadays directly related to their comfort and freedom for
carrying their everyday lifestyle. The rising frequency of chronic diseases
among people around the world has boosted user reliance and demand of
wheelchairs. According to the Department of Economic Affairs and Social
Affairs from World Population Prospects, the number of older people has
increased dramatically in recent years in many countries and regions, and that
growth is expected to grow rapidly in the coming decades. Between 2015 and
2030, there will be 1.4 billion people in the globe who are 60 or older, a
growth of 56% from the current 901 million by 2050, and the number of elderly
people within country is expected to reach approximately one million. Several aged
people are prone to chronic diseases such as high blood pressure, heart failure,
and cellular disability for which they require wheelchair for their smooth
movement. Hence, the demand for wheelchairs is expected to rise sharply in the
coming forecasted years.
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Market
Segmentation
The Vietnam
Wheelchair Market is segmented based on product type, category, application, end
user, company, and region. Based on product type, the market is further segmented
into Manual Wheelchair and Powered
Wheelchair. Based on Category, the market is segmented into Adult and Pediatric.
Based on Application, the market is segmented into Basic Wheelchair, Bariatric
Wheelchair, Sports Wheelchair, and Others. Based on End User, the market is
further fragmented into Healthcare Facilities and Home Care.
Company Profiles
Aikin Holding
Corp. Vietnam Manufacturer, Vietnam Precision Industrial Joint Stock Company, Kenda
Rubber (Vietnam) Co., Ltd., An Viet Long Co., Ltd., MZ Vietnam Co., Ltd., Wus
Tech (Vietnam) Co., Ltd., OIA Global Vietnam Co., Ltd., Wus Tech (Vietnam) Co.,
Ltd., Ben Thanh Investment, Technet JSC etc. are among the major market players
in the Vietnam Wheelchair Market.
|
Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historic
Data
|
2018 –
2022
|
|
Estimated
Year
|
2023
|
|
Forecast
Period
|
2024 – 2028
|
|
Quantitative
Units
|
Revenue
in USD Billion, and CAGR for 2017-2021 and 2022E-2027F
|
|
Report
Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
Product
Type
Category
Application
End
User
Company
Region
|
|
Regional
Scope
|
Northern, Central, Southern
|
|
Key
Companies Profiled
|
Aikin Holding Corp. Vietnam Manufacturer, Vietnam
Precision Industrial Joint Stock Company, Kenda Rubber (Vietnam) Co., Ltd.,
An Viet Long Co., Ltd., Mz Vietnam Co., Ltd., Wus Tech (Vietnam) Co., Ltd.,
Oia Global Vietnam Co., Ltd., Wus Tech (Vietnam) Co., Ltd., Ben Thanh
Investment, Technet JSC
|
|
Customization
Scope
|
10% free report
customization with purchase. Addition or alteration to country, regional
& segment scope.
|
|
Pricing
and Purchase Options
|
Avail customized
purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email
(We can also provide the editable version of the report in PPT/pdf format on
special request)
|
Report
Scope:
In this report,
Vietnam Wheelchair Market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Vietnam Wheelchair Market, By
Product Type:
- Manual Wheelchair
- Powered Wheelchair
- Vietnam Wheelchair Market, By
Category:
- Vietnam Wheelchair Market, By
Application:
- Basic Wheelchair
- Bariatric Wheelchair
- Sports Wheelchair
- Others
- Vietnam Wheelchair Market, By
Region:
- Northern
- Central
- Southern
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in Vietnam Wheelchair Market.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
Detailed
analysis and profiling of additional market players (up to five).
It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]