Burlingame, Nov. 27, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, The global electric wheelchair market was valued at US$ 7.83 Bn in 2023 and is forecast to reach a value of US$ 16.27 Bn by 2030 at a CAGR of 11% between 2023 and 2030.
Increasing government initiatives are expected to offer lucrative growth opportunities for players in the market. For instance, According to data reported in The Times of India on February 25, 2023, 35 electric assistive neo-motion wheelchairs and neo-motion devices were given to para-athletes by The Association for Disabled Individuals (ADP), a nonprofit organization that aids people with disabilities.
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Key Market Takeaways:
The global electric wheelchair market is expected to exhibit a CAGR of 11.0% during the forecast period due to increasing inorganic strategies such as acquisition. For instance, in August 2022, Sunrise Medical, one of the global leaders in advanced assistive mobility solutions, announced that it had acquired Now Tech, a tech start-up company. Gyroset Vigo, its most recent special head control product invention, will be included to Sunrise Medical's SWITCH-IT power wheelchair special control product lineup.
Among regions, North America is expected to dominate the market over the forecast period, and this is attributed to increasing inorganic strategies such as acquisition. For instance, in June 2020, GF Health Products, Inc., one of the major manufacturers of healthcare products used in the extended care, acute care, primary care, and homecare markets, announced that it had acquired Endron, Inc., one of the US’s leading designers and manufacturers of mobile patient management, specializing in bariatric beds, mobility, seating, transfer, and transport for long-term care, home care, rehabilitation, and acute care.
Key players operating in the global electric wheelchair market include Invacare Corporation, Sunrise Medical (US) LLC, Permobil Inc., Pride Mobility Products Corporation, Drive Devilbiss Healthcare, Hoveround Corporation, Ottobock Healthcare, 21st Century Scientific, Inc., Meyra GmbH, LEVO AG, Merits Co. Ltd., Segway Inc., Scewo, GF Health Products Inc., Karman Healthcare, Inc., KYMCO Healthcare, SOWECARE B.V, and Nanjing Jin Bai He Medical Apparatus Co., Ltd.
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Market Key Developments:
On July 27, 2023, Vital Mobility Medical Supplies, one of Canada’s leading independent mobility equipment suppliers, announced the launch of the Robooter E40 Light-Weight Folding Wheelchair, which contains a lightweight integrated magnesium aluminum alloy frame and a powerful 20AH lithium-ion battery. The E40 grants an impressive range of 23 km on a single charge to provide portability and comfort to the user.
On July 24, 2023, the Metropolitan Transportation Authority (MTA), a public benefit corporation responsible for public transportation in the New York City metropolitan area of the U.S. state of New York, launched a six-month pilot to test an automated wheelchair securement device, the Quantum Self Securement Station, which enables mobility device users to secure themselves without assistance from bus operators.
On March 17, 2023, Golden Technologies, one of the leading providers of mobility solutions launched the GP301 Stride aluminum folding power wheelchair and the GP302 Cricket carbon fiber folding power wheelchair, two lightweight foldable power wheelchairs.
In August 2021, Falcon Mobility, one of the leading distributor of electric wheelchairs announced the launch of the Ultra-Lite 2 electric wheelchair, one of the leading distributor of electric wheelchairs, mobility scooters, and transfer aids in Singapore.
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Market Driver:
Increasing healthcare initiatives, such as funding for developments and the commercialization of wheelchairs are also expected to fuel the overall market’s growth. For instance, in May 2021, Munevo, a company developed by a team of students at the Technical University of Munich at the Chair of Business Informatics, announced that they had received US$ 1.06 Mn (€1M) for the development and commercialization of a platform solution used in wheelchair control units.
Market Oppurtunities:
Increasing government initiatives to provide services are expected to drive the growth of the global electric wheelchair market over the forecast period. For instance, on June 20, 2023, the San Diego Association of Governments (SANDAG), an association of local San Diego County governments, and Facilitating Access to Coordinated Transportation (FACT) collaborated to launch the RideFACTNow, a first-of-its-kind on-demand specialized transportation service in the San Diego region.
Market Restraint:
For instance, the National Environmental Education Foundation, a Washington, D.C.-based environmental organization, published data in July 2021 indicating that many trails, beaches, and campgrounds do not provide proper accessibility for wheelchair users. Just a few examples of accessibility issues include the absence of closed captioning on video displays and tactile or audio versions of maps for people who are blind or have low vision.
Government of various underdeveloped countries are taking actions to increase the accessibility for the disable people.
Read complete market research report, "Electric Wheelchair Market, By Modality, By Age Group, By End User, By Region and Segment Forecast 2023-2030", Published by Coherent Market Insights.
Detailed Segmentation:
- Global Electric Wheelchair Market, By Modality:
- Rear Wheel Drive Electric Wheelchair
- 4 Wheel Drive Electric Wheelchair
- Front Wheel Drive Electric Wheelchair
- Self Balancing Wheelchair
- Standing Electric Wheelchair
- Remote Control
- Global Electric Wheelchair Market, By Age Group:
- > 60 years
- 21 to <60 years
- <20 years
- Global Electric Wheelchair Market, By End User:
- Consumer
- Care
- Hospitals
- Clinics
- Care Homes
- Global Electric Wheelchair Market, By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
- North America
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