Latin America Wheelchair Market Size & Outlook, 2023-2030
Latin America wheelchair market, 2018-2030 (US$M)
Related Markets
Latin America wheelchair market highlights
- The Latin America wheelchair market generated a revenue of USD 371.3 million in 2023.
- The market is expected to grow at a CAGR of 6.6% from 2024 to 2030.
- In terms of segment, manual was the largest revenue generating product in 2023.
- Manual is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 371.3 million |
| Market revenue in 2030 | USD 582.0 million |
| Growth rate | 6.6% (CAGR from 2023 to 2030) |
| Largest segment | Manual |
| Fastest growing segment | Manual |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Manual, Electric |
| Key market players worldwide | Carex Health Brands, Drive Medical, Graham - Field Health Products, Invacare, Medline Industries, Sunrise Medical, Quantum Rehab, Numotion, Pride Mobility Products Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 7.2% of the global wheelchair market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,876.4 million by 2030.
Manual was the largest segment with a revenue share of 61.19% in 2023. Horizon Databook has segmented the Latin America wheelchair market based on manual, electric covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America accounted for 7.3% of the global wheelchair market in 2021. The region’s economy is majorly driven by Brazil. Based on EIU estimates in 2018, healthcare spending was around 7.6% of GDP, which was third in terms of healthcare spending after North America and Western Europe. Moreover, life expectancy in this region is reported to be over 75 years.
Growing life expectancy & awareness about home healthcare services, increasing prevalence of disabilities, and rising demand for medical devices for long-term care are key factors expected to boost the wheelchair market.
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Wheelchair Market Scope
Wheelchair Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America wheelchair market size, by country, 2018-2030 (US$M)
Latin America Wheelchair Market Outlook Share, 2023 & 2030 (US$M)
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