Electric Wheelchair Market Size, Recent Trends, Opportunities and Growth Revenue 2022-2027
Research Reports
Mar 19, 2022
The global electric wheelchair market is likely to make steady progress over the forecast period from 2018 to 2023 due to the growing population of geriatrics in developed regions around the world and the growing number of people living with disabilities. This information comes from a new market research report from Market Research Future (MRFR) aimed at providing a complete overview of the global electric wheelchair market, including its key drivers and restraints, leading segments, and key players operating in the market.
The global electric wheelchair is majorly driven by the growing number of people living with disabilities. The growing prevalence of trauma cases and diseases that lead to amputation or the loss of legs has led to growing use of electric wheelchairs. Electric wheelchairs provide individuals with disabilities an easy, reliable way to get around and perform their daily chores. The rapid technological advancement in the field of electric wheelchairs has also led to the availability of a wide range of electric wheelchairs in the market, which has led to steady growth of the market in recent years. The growing prevalence of handicaps and the increasing awareness about making life easier for these individuals, especially in developed Western economies, are likely to remain a major driver for the electric wheelchair market in developed economies over the forecast period.
The increasing government expenditure on the healthcare sector is another major driver for the global electric wheelchairs market, as it has allowed for a wide range of hospitals to carry a fleet of electric wheelchairs for the use of their patients. The convenience of electric wheelchairs in medical settings is likely to lead to growing demand from the global electric wheelchair market over the forecast period, as electric wheelchairs don’t require an attendant to carry, i.e. steer, the wheelchair. The high disposable income of consumers in developed economies is another major driver for the global electric wheelchair market.
On the other hand, the high costs of electric wheelchairs have counted against them, especially in underdeveloped regions. Even in developed countries, electric wheelchairs can still be expensive for many individuals, leading to their usage being restricted. The high technological sophistication of modern electric wheelchairs also makes servicing and repairing more complicated, which is also likely to remain a key restraint against the global electric wheelchair market over the forecast period.
Competitive Analysis:
Leading players in the global electric wheelchair market include Drive Medical Ltd., Quantum Rehab, Invacare Corporation, Pride Mobility Products Corp., MEYRA GmbH, Whill Inc., Permobil AB, 21st Century Scientific Inc., Medical Depot Inc., Hoveround Corporation, Sunrise Medical Limited, OttoBock Healthcare GmbH, LEVO AG, Karman Healthcare, GF Health Products Inc., and Permobil AB.
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Segmentation:
The global electric wheelchair market is segmented on the basis of end use, product, and region.
By product type, the global electric wheelchair market is segmented into electric indoor chair, electric outdoor chair, dual purpose chair, rear wheel drive chair, front wheel drive chair, center wheel drive chair, standing electric wheelchair, and others.
By end use, the global electric wheelchair market is segmented into hospitals/clinics, home care settings, and others.
Regional Analysis:
The global electric wheelchair market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas dominates the global electric wheelchair market and is likely to remain the leading regional revenue generator for the electric wheelchair market over the forecast period due to the growing adoption of electric wheelchairs in the U.S. The high disposable income of consumers in the region and the highly advanced technological framework of the healthcare sector in countries such as the U.S. and Canada are responsible for the dominant role played by the U.S. and North America in the global electric wheelchair market. The Americas and Europe are likely to remain in the leading positions in the global electric wheelchair market over the forecast period due to the high spending capacity of consumers in the region and the comparative ease of acquiring an electric wheelchair in these countries, as compared to underdeveloped, emerging countries in Asia Pacific, the Middle East, or Latin America.
Asia Pacific could exhibit strong growth in the global electric wheelchair market over the forecast period due to the growing awareness about them and their increasing adoption, especially in regional economic powers such as China, Japan, and South Korea.
Industry Updates:
On February 20, 2019, Montana’s Capitol installed its first electric wheelchair charging station. Initiatives such as these are crucial steps in making it easy to own and operate electric wheelchairs.
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