South Korea is a rapidly developing country with a growing economy and improving living standards. However, like many other nations, it also has a significant population of disabled citizens who require wheelchairs for their daily mobility needs.
CoherentMI explores the South Korea wheelchair market, some key manufacturers and trends in the industry in South Korea Wheelchair Market.
History and Development
Wheelchairs have been used in South Korea since the late 19th century to assist people with disabilities. However, it was only after World War 2 that the market started developing at a faster pace. With industrialization and economic growth, disposable incomes rose allowing more people to afford wheelchairs. Several small manufacturers started production to cater to the domestic demand.
Through the 1970s and 80s, the numbers of wheelchair users grew steadily due to various factors like better healthcare, longer lifespans and injuries from industrial accidents. The government also established social welfare programmes for the disabled which included subsidies for mobility aids. This boosted the local wheelchair industry further.
Major Players
Currently, some of the major players in the South Korea wheelchair market include:
- Kolcraft Enterprises: One of the largest manufacturers globally with a wide product range for adults and kids. They have a strong presence in South Korea through local partnerships.
- Eurovema AB: A Swedish brand known for lightweight folding and sports wheelchairs. They have a manufacturing plant and R&D facility in South Korea.
- Sunrise Medical: A leading American company with a portfolio including power wheelchairs, scooters and seating systems. They export numerous units to South Korea annually.
- Pride Mobility Products Corporation: Another American giant in the power wheelchair and scooter segment. Pride has a sizable market share in South Korea.
- Medline Industries: A medical equipment supplier focused on durable medical equipment including manual wheelchairs. They export to South Korea from their U.S factories.
Product Trends
Over the years, the South Korea wheelchair market has evolved significantly. Some of the notable product trends include:
- Growing Demand for Power Wheelchairs: With higher disposable incomes, more seniors and disabled are opting for power chairs for independent mobility. Features like obstacle detection and tilt functions are gaining popularity.
- Emphasis on Lightweight Construction: Korean manufacturers focus on utilizing modern materials like carbon fiber, magnesium alloys to build ultralight foldable/transport wheelchairs.
- Rise of Sports/All-Terrain Models: Models tailored for outdoor activities and rough terrains have become common as people seek active lifestyles. Shock absorption and track wheels are standard.
- Custom Seating Systems: Customizable cushions, backrests and padding are available to address pressure issues and provide proper ergonomic support based on individual needs.
Government Initiatives
The South Korean government has introduced various schemes to support the disabled population and local wheelchair industry:
- National Health Insurance covers 70-80% costs of a wheelchair prescribed by a doctor every 5 years.
- Tax exemption on imports of certain types of medical equipment including electric wheelchairs.
- Subsidies for small manufacturers developing innovative products through R&D programs.
- Grants for clinical research on seating, positioning needs of users and ways to improve comfort/functionality.
- Accessibility laws mandate installation of ramps, automatic doors in public infrastructure to promote independent mobility.
These initiatives have lowered the economic barriers and enhanced access to good quality assistive devices in South Korea.
Market Outlook
The South Korea Wheelchair Market as well as globally is expected to grow steadily driven by aging populations, rise in lifestyle diseases, improved healthcare infrastructure and increasing acceptance of mobility aids. Asia Pacific region dominated the global market in 2019 and is likely to remain an important regional market led by countries like China, Japan and South Korea due to their large populations and improving living standards. The increase in the number of wheelchair users will further augment the demand in residential, institutional and healthcare sectors. Key factors influencing future growth include technological innovations to develop smart/ Hi-tech assistive devices and greater accessibility measures worldwide. For more details on the industry, refer to the wheelchair market insights published on the CoherentMI website.
