South Korea Wheelchair Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)
South Korea Wheelchair Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)
South Korea Wheelchair Market is Segmented By Type (Manual Wheelchairs, Powered Wheelchairs, Pediatric Wheelchairs, Others), By End User (Homecare, Hospitals, Ambulatory Surgical Centers, Rehabilitation Centers, Others), By Weight Capacity (Less than 100 lbs, 100-150 lbs, 150-200 lbs, More than 200 lbs, Others), By Application (Adults, Pediatric, Others), By Distribution Channel (Online and Offline). The report offers the value (in USD billion) for the above-mentioned segments.
South Korea Wheelchair Market is Segmented By Type (Manual Wheelchairs, Powered Wheelchairs, Pediatr...
South Korea Wheelchair Market Size - Analysis
South Korea wheelchairs market is expected to be valued at US$ 1.60 Billion in 2023 and is expected to reach US$ 2.54 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030.
Wheelchairs are medical devices that provide mobility to people with disabilities, illnesses or injuries that impair their ability to walk. These come in manual and powered variants, with customizable options like tilt, recline, adjustable height for better comfort and maneuverability. South Korea wheelchairs market growth is driven by rising geriatric population, increasing spinal cord injuries, and advancements in wheelchair technology.
South Korea wheelchairs market is segmented into by type, end user, weight capacity, and application, and distribution channel. By type, the market is categorized into manual wheelchairs, powered wheelchairs, pediatric wheelchairs, and others. The manual wheelchairs segment accounted for the largest market share in 2022, owing to lower costs and easier maintenance.
South Korea Wheelchairs Market- Drivers
Increasing prevalence of disabilities and injuries leading to growing wheelchair users: Increasing prevalence of disabilities such as spinal cord injuries, multiple sclerosis, muscular dystrophy, and cerebral palsy is a major factor driving the growth of the South Korea wheelchairs market. According to data published by Korea Disabled People's Development Institute, around 2.7% of the total South Korean population suffered from physical disabilities in 2020. This creates a sustained demand for wheelchairs and accessories. Further, rising cases of road accidents and sports injuries leading to temporary or permanent disability also augments market growth as these patients rely on wheelchairs for mobility.
Advancements in wheelchair technology and designs: Ongoing advancements in wheelchair technology are resulting in lighter, stronger and more durable wheelchair models with greater comfort, customizability and performance. Some examples include adaptive wheelchairs, hands-free powered models, standing wheelchairs, and stair-climbing wheelchairs. The integration of IoT and sensors is also enabling smart wheelchairs capable of navigation and object detection. Such innovations are expanding the capabilities of wheelchairs. For instance, in November 2022, Honda, a Japan- based world's largest two wheeler manufacturing company, announced development of hands-free wheelchair named UNI-ONE that glides as users tilt their bodies in the direction they want to move. Based on Honda’s robotics concepts, the chair design of the motorized seat offers people with mobility problems to let their hands freely do the activities they want to do.
Growing elderly population susceptible to mobility impairments: South Korea has a rapidly growing geriatric population, with seniors above 65 years expected to comprise ~25% of the total population by 2030. Old age often brings restricted mobility due to conditions like arthritis, osteoporosis and dementia. This boosts demand for wheelchairs optimized for the elderly, contributing to market growth. Rising disposable incomes among seniors is also enabling expenditure on advanced and customized wheelchair models. For instance, according to Organisation for Economic Cooperation and Development (OECD)’s data for year 2020, The scale of demographic change is forecasted to make Korea’s population the oldest among OECD countries in the 2050s. The median age has increased from less than 20 years before the mid-1970s to around 41 years today – just above the OECD average – and is projected to increase to nearly 55 years before stabilising at 50-55 years thereafter. This would place Korea’s median age above the age of all other OECD countries.
South Korea Wheelchairs Market- Opportunities
Development of advanced powered wheelchairs for enhanced user experience: There are significant opportunities for wheelchair manufacturers to develop advanced powered wheelchairs incorporating the latest technologies for an improved user experience. Some areas of innovation include AI-based wheelchair control, integration of touchscreens and navigation systems, automated standing and recline functions, and machine learning for personalized usage. Such powered models can greatly increase the independence and capabilities of wheelchair users. For instance, in March 2022, KT corp, South Korea based major telecom industry announced that electric wheelchairs enhances user convenience and safety functions with artificial intelligence and internet of things (IoT) technologies.
Growing demand for customization: There is growing consumer demand for customized wheelchairs tailored to the specific needs and conditions of patients. Key areas of customization include size, weight capacity, seat dimensions, ergonomic handrims, wheelchair frames, specialized control systems and custom accessories. Companies have opportunities to provide modular components and utilize innovative manufacturing techniques to offer personalized wheelchairs, improving satisfaction and sales.
South Korea Wheelchairs Market- Restraints
High costs of advanced wheelchair models: Cutting-edge wheelchair models incorporate the latest technologies and custom features that makes them highly expensive. For instance, some powered wheelchairs are priced between US$ 15,000 to US$ 30,000. The high costs can be prohibitive for many end users, especially in developing economies. This is a key restraint to faster market growth.
Market Size in USD Bn
CAGR6.8%
Study Period
2023 - 2030
Base Year of Estimation
2022
CAGR
6.8%
Larget Market
South Korea
Market Concentration
High
Major Players
OSTRICH MOBILITY, Guangzhou TopMEDI, Guangzhou HuiJu Medical Equipment, Amico Group, 21st Century Scientific and Among Others
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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South Korea Wheelchair Market Trends
Growing adoption of mid-wheel drive power wheelchairs: Mid-wheel drive power wheelchairs are witnessing increasing adoption in South Korea due to advantages like stability over varied terrain, tight turning radius and maneuverability in confined spaces. Their compact build and front-wheel placement also allows users to interact more closely with peers at eye-level. Leading companies are offering advanced mid-wheel drive models catering to this growing trend. For instance, according to Karma Medical Products Co., LTD., publication in September, 2022, Mid-wheel drive power wheelchairs have the tightest turning radius of all the power wheelchairs. The turning axis is at the center of the wheelchair, so the user can make a full 360° turn without any extra maneuvers. Often users feel restricted in their homes with narrow doorways or elevators, however the tight turning radius and narrow base of a mid-wheel drive make it otherwise possible.
Integration of IoT and sensors in wheelchairs: The integration of Internet of Things (IoT) and sensor technology is an important trend in the wheelchairs market. Companies are incorporating sensors to track wheelchair usage metrics, location and environment data. This enables remote patient monitoring, automatic maintenance alerts and other smart functionalities. IoT integration also allows connectivity with mobile apps and caregiver networks.
Usability challenges in developing regions:
Many developing regions lack accessibility infrastructure like wheelchair ramps, elevators, and pathways. This makes it challenging for wheelchair users to navigate their environment independently, limiting adoption. Awareness and social acceptance of disabilities is also lower in developing countries, restraining market prospects.
However, as the government is implementing various policies and program to improve accessibility in public spaces and transportation, including the installation of wheelchair ramps and elevators in building is increasing the adoption of wheelchairs in South Korea.
Figure 1. South Korea Wheelchairs Market Value (US$ Bn), 2023
Competitive overview of South Korea Wheelchair Market
Major players operating in the South Korea wheelchairs market include, Karma Medical, OttoBock Healthcare, Permobil, Pride Mobility, Invacare, Sunrise Medical, Guangdong Shunde Jaeyong Hardware, Progeo Medical Technology, Dongguan Tianxing Furniture, Merits Health Products, OSTRICH MOBILITY, Guangzhou TopMEDI, Guangzhou HuiJu Medical Equipment, Amico Group, 21st Century Scientific, Besco Medical, Golden Technologies and Hoveround.
South Korea Wheelchair Market Leaders
OSTRICH MOBILITY
Guangzhou TopMEDI
Guangzhou HuiJu Medical Equipment
Amico Group
21st Century Scientific
*Disclaimer: Major players are listed in no particular order.
South Korea Wheelchair Market - Competitive Rivalry
South Korea Wheelchair Market
Market Consolidated (Dominated by major players)
Market Fragmented (Highly competitive with lots of players.)
*Source: Coherent Market Insights
Recent Developments in South Korea Wheelchair Market
New Product Launches
In October 2022, Permobil, global healthcare solution company launched the F5 Corpus VS power wheelchair designed for highly active users. It features customizable seating functions and a high maximum speed of 12.5 mph.
In January 2021, Invacare, U.S. based multinational manufacturer and distributor of non-acute medical equipment including wheelchairs, mobility scooters, walkers, pressure care and positioning, as well as respiratory products etc., introduced the Aero T XX power wheelchair developed specifically for bariatric patients. It can support weight capacity of up to 450 lbs.
In June 2020, Karma Medical, a global wheelchair manufacturer launched the KM-TS pediatric power wheelchair for young wheelchair users. It offers adjustable seat depth and back height for a customized fit.
Acquisition and Partnerships
In December 2021, Permobil acquired ROVI Mobility, a Spain-based manufacturer of advanced power wheelchairs. This helped Permobil to expand its presence in Europe.
In October 2020, Invacare partnered with At One Robotics to develop automation technologies for power wheelchairs to enhance user experience
South Korea Wheelchair Market Report - Table of Contents
Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet South Korea Wheelchairs, By Type
Market Snippet South Korea Wheelchairs, By End User
Market Snippet South Korea Wheelchairs, By Weight Capacity
Market Snippet South Korea Wheelchairs, By Application
Market Snippet South Korea Wheelchairs, By Distribution Channel
Coherent Opportunity Map (COM)
Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Increasing prevalence of disabilities and injuries leading to growing wheelchair users
Restraints
High costs of advanced wheelchair models
Opportunities
Development of advanced powered wheelchairs for enhanced user experience
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launch/Approvals
PEST Analysis
PORTER’s Analysis
Merger and Acquisition Scenario
South Korea Wheelchairs Market – Impact of Coronavirus (COVID-19) Pandemic
COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact
South Korea Wheelchairs Market, By Type, 2018-2030, (US$ Bn)
Introduction
Market Share Analysis, 2023 and 2030 (%)
Y-o-Y Growth Analysis, 2019 – 2030
Segment Trends
Manual Wheelchairs
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Powered Wheelchairs
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Pediatric Wheelchairs
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
South Korea Wheelchairs Market, By End User, 2018-2030, (US$ Bn)
Introduction
Market Share Analysis, 2023 and 2030 (%)
Y-o-Y Growth Analysis, 2019– 2030
Segment Trends
Homecare
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Hospitals
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Ambulatory Surgical Centers
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Rehabilitation Centers
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
South Korea Wheelchairs Market, By Weight Capacity, 2018-2030, (US$ Bn)
Introduction
Market Share Analysis, 2023 and 2030 (%)
Y-o-Y Growth Analysis, 2019– 2030
Segment Trends
Less than 100 lbs
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
100-150 lbs
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
150-200 lbs
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
More than 200 lbs
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
South Korea Wheelchairs Market, By Application, 2018-2030, (US$ Bn)
Introduction
Market Share Analysis, 2023 and 2030 (%)
Y-o-Y Growth Analysis, 2019– 2030
Segment Trends
Adults
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Pediatric
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
South Korea Wheelchairs Market, By Distribution Channel, 2018-2030, (US$ Bn)
Introduction
Market Share Analysis, 2023and 2030 (%)
Y-o-Y Growth Analysis, 2019– 2030
Segment Trends
Online
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Offline
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Competitive Landscape
Karma Medical
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
OttoBock Healthcare
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Permobil
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Pride Mobility
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Invacare
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Sunrise Medical
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Guangdong Shunde Jaeyong Hardware
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Progeo Medical Technology
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Dongguan Tianxing Furniture
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Merits Health Products
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
OSTRICH MOBILITY
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Guangzhou TopMEDI
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Guangzhou HuiJu Medical Equipment
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Amico Group
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
21st Century Scientific
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Besco Medical
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Golden Technologies
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Hoveround
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Analyst Views
Section
Research Methodology
About us
*Browse 15 market data tables and 30 figures on “South Korea Wheelchairs Market” – South Korea forecast to 2030
South Korea Wheelchair Market Segmentation
By Type:
Manual Wheelchairs
Powered Wheelchairs
Pediatric Wheelchairs
Others
By End User:
Homecare
Hospitals
Ambulatory Surgical Centers
Rehabilitation Centers
Others
By Weight Capacity:
Less than 100 lbs
100-150 lbs
150-200 lbs
More than 200 lbs
Others
By Application:
Adults
Pediatric
Others
By Distribution Channel:
Online
Offline
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About author
Komal Dighe is a Management Consultant with over 8 years of experience in market research and consulting. She excels in managing and delivering high-quality insights and solutions in Health-tech Consulting reports. Her expertise encompasses conducting both primary and secondary research, effectively addressing client requirements, and excelling in market estimation and forecast. Her comprehensive approach ensures that clients receive thorough and accurate analyses, enabling them to make informed decisions and capitalize on market opportunities.
Frequently Asked Questions :
What are the key factors hampering growth of the South Korea wheelchairs market?
High cost, lack of training for users, limited reimbursements, stigma around disabilities, low adoption in developing regions are hampering the market growth.
What are the major factors driving the South Korea wheelchairs market growth?
Rising geriatric population, increasing spinal injuries, advancements in technology, high healthcare spending, and favorable policies are driving market growth.
Which is the leading segment in wheelchair type in the South Korea wheelchairs market?
The leading segment is the powered wheelchairs segment due to rising adoption of motorized models.
Which are the major players operating in the South Korea wheelchairs market?
Karma Medical, OttoBock Healthcare, Permobil, Pride Mobility, Invacare, Sunrise Medical, Guangdong Shunde Jaeyong Hardware, Progeo Medical Technology, Dongguan Tianxing Furniture, Merits Health Products, OSTRICH MOBILITY, Guangzhou TopMEDI, Guangzhou HuiJu Medical Equipment, Amico Group, 21st Century Scientific, Besco Medical, Golden Technologies & Hoveround
What will be the CAGR of South Korea wheelchairs market?
The CAGR of the South Korea wheelchairs market is expected to be 6.8% during 2023-2030.
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