Electric Wheelchair Market Is Projected To Reach USD 6.47 Billion, Enlisting a CAGR of 6.8% By 2030 | Market Research Future
Research Reports
Nov 21, 2022
The global electric wheelchair market is anticipated to register significant growth over the forecast period. The increasing advancement in technology, and growing demand for electric mobility devices for people with disability and aged people, is likely to fuel the market growth over the forecast period. The increasing prevalence of chronic diseases and the rising aged population are the major factors anticipated to drive the market growth of the request.
The global electric wheelchair market is anticipated to register a CAGR of 6.8% with Value of USD 6.47 Billion during the forecast period (2022-2030).
An electric wheelchair is a motorized wheelchair that runs on a battery which is preferred by individuals with a medical condition or who have difficulty walking. These wheelchairs are generally four- wheeled or six- wheeled and can be partially dismantled for transits. These individuals prefer electric wheelchairs over manual wheelchairs due to a lack of upper body strength or want to be independent. The technological evolution in the wheelchair market has started offering electric wheelchair is looks similar to mobility scooter which offers further comfort, storehouse space, armrest, and joystick for controlling the movement of a wheelchair.
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Regional Analysis
The North American region is anticipated to witness the largest market share and growth over the forecast period. The market players in this region are continuously developing advanced products to meet the consumers’ demand. According to the Centers for Disease Control and Prevention, over 61 million grown-ups in the U.S. live with disability out of which 3.3. Million are wheelchair users. This number is continuously increasing with an estimation of 2 million new wheelchair users every time.
The industry is marked by the presence of colorful small and large industry players. The electric wheelchair market is largely competitive in the regions similar as North America and Europe. Key global industry players include Invacare Corporation, Pride Mobility Products Corp., Sunrise Medical LLC, Karman Healthcare, Ottobock, Permobil, Karma Medical, Seniority Mobility. According to the World Health Organization (WHO), about 15 of the global population suffered from some form of disability, of which about 2 – 4 of the population is functionally dependent on caregivers.
The Asia Pacific region has proved to be a potential market for the electric wheelchair as a result of the rapid advancements and developments seen in this sector. The tremendous increase in population of this region has increased the consumption of advanced facilities by the people. As a result of their growing disposable income people in the developing nations can afford such advanced technologies.
Market Segmentation
By product type
- Center Wheel Drive
- Front Wheel Drive
- Rear Wheel Drive
- Standing Electric Wheelchair
- Others
By End users
- Hospitals & Clinic
- Home Care
- Sports Conditioning
By Age Group
- 60 years
- 21 to< 60 years
Key Players
Invacare Corporation, Karma Medical Productsco., Ltd, Matsunaga Manufactoryco., Ltd, Meyra Group, Miki Kogyoshoco., Ltd, Nissin Medical Industriesco., Ltd, Ottobock Se & Co Kgaa, Permobil Ab, Pride Mobility Products Corp, Sunrise Medical(U.S.) Llc.
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