Industry Analysis & Industry Trends
Favorable demographic changes will benefit the industry, with demand for wheelchairs growing as a result of a greater need among older baby boomers. While input costs will remain high, they will not shift as drastically as in the previous five-year period. Nevertheless, healthcare reform is expected to negatively affect public healthcare spending as the excise tax on wheelchairs adversely affects industry operators' revenue.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Wheelchair Manufacturing industry is in the growth phase of its life cycle, with growth outpacing US GDP growth. Over the 10 years to 2019, industry valued added, or the value that the industry adds to the overall economy, is forecast to increase by 3.1% per year on average. In comparison, US GDP is anticipated to expand at an average annual rate of 2.5% during the same period.
One key characteristic of a growing industry is technological change. Since wheelchairs are expensive products, consumers are more willing to purchase a new chair if there have been major improvements that will make their daily life easier. Additionally, users can increasingly find custom-made and high-performance wheelchairs as well as accessories... purchase to read more