New York, United States , April 05, 2024 (GLOBE NEWSWIRE) -- The Global Electric Wheelchair Market Size is to Grow from USD 3.78 Billion in 2023 to USD 10.17 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 10.40% during projected period.
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An electric wheelchair, also known as a motorized wheelchair, power wheelchair, or electric-powered wheelchair, is powered by electricity, mostly by motors and batteries. It is intended to assist those with limited mobility in getting from one location to another. People who struggle to walk or drive a manual wheelchair benefit greatly from electric wheelchairs, which provide excellent independence and freedom. These are equipped with a control system that allows the user to operate the chair using a joystick, buttons, or other interfaces. Mobility chairs frequently include a strong structure, comfortable seating, and a range of other features designed to enhance the user's safety and comfort. Disability prevalence is increasing due to non-communicable diseases and longer lives. Hospitals and healthcare institutions are investing in infrastructure and adopting technology like electric wheelchairs, driving market expansion. The geriatric population is driving growth, and disabled persons' participation in sports is expected to increase demand for the global electric wheelchair market during the forecast period. However, high costs, limited healthcare coverage, and restrictive reimbursement policies hinder the adoption of electric wheelchairs, affecting market growth and maintenance expenses. Hence, these factors may impede the market growth of the global electric wheelchair market during the forecast period.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Electric Wheelchair Market Size, Share, and COVID-19 Impact Analysis, By Product Types (Center Wheel Drive Chair, Front Wheel Drive Chair, Rear Wheel Drive Chair), By Type (Adult Wheelchairs, Pediatric Wheelchairs), By End-users (Home Care Settings, Hospitals & Clinics), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The center wheel drive chair segment is anticipated to hold the greatest share of the global electric wheelchair market during the projected timeframe.
On the basis of product type, the global electric wheelchair market is divided into center wheel drive chair, front wheel drive chair, and rear wheel drive chair. Among these, the center wheel drive chair segment is anticipated to hold the greatest share of the global electric wheelchair market during the projected timeframe. The growth can be attributed to the growth of the electric wheelchair market share because of the small turning radius, light front tires, ease of movement through limited places, and increased stability of center-wheel drive.
The adult wheelchairs segment is anticipated to hold the greatest share of the global electric wheelchair market during the projected timeframe.
On the basis of type, the global electric wheelchair market is divided into adult wheelchairs and pediatric wheelchairs. Among these, the adult wheelchairs segment is anticipated to hold the greatest share of the global electric wheelchair market during the projected timeframe. The segmental growth can be attributed to the growing number of the world's aging individuals.
The home care settings segment is predicted to hold the greatest share of the global electric wheelchair market during the estimated period.
On the basis of end-users, the global electric wheelchair market is divided into home care settings and hospitals & clinics. Among these, the home care settings segment is predicted to hold the greatest share of the global electric wheelchair market during the estimated period. The segmental growth can be attributed to the presence of a geriatric population in society, which typically lives at home or in old-age facilities where they receive special attention and care.
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North America is expected to hold the largest share of the global electric wheelchair market over the forecast period.
North America is expected to hold the largest share of the global electric wheelchair market over the forecast period. There is a growing geriatric population in this region. The government's provision of advanced healthcare facilities boosts the demand for up-to-date hospital equipment. This area is given considerable attention in elderly care homes, where the best services are provided. Increased patient awareness, product variety, and access to high-quality healthcare. Due to increased traffic accidents, the government's contemporary healthcare facilities have stimulated public demand for sophisticated medical equipment, particularly in senior living and electric wheelchairs. These factors would considerably boost the geographical expansion of the electric wheelchair market over the forecast period.
Asia-Pacific is predicted to grow at the fastest pace in the global electric wheelchair market during the projected timeframe. The region's growth can be attributed to the electric wheelchair is increasing in popularity as a result of significant advancements in the market, which are being driven by a growing population in developing countries that can afford modern technologies due to increased disposable income.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global electric wheelchair market include Karma Medical Products Co., Ltd., PERMOBIL Ab, Levo AG, Pride Mobility Products Corp, Quantum Rehab, GF Health Products, Nissin Medical Industries Co., Ltd, Drive Medical, Matsunaga Manufactory Co., Ltd, Miki KOGYOSHO Co., Ltd., Sunrise Medical LLC., Invacare Corporation, Hoveround Corporation, OTTOBOCK Se & Co KGAA, MEYRA Group, Others.
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Recent Developments
- In February 2022, the e-fix eco, which is a power assisted device of the next generation has been introduced by the Invacare corp. The introduction of this new device helps to transform a normal wheelchair which is regularly used into oh power wheelchair which is portable with the help of a joystick. The use of in wheel motors and batteries have been observed in this device.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global electric wheelchair market based on the below-mentioned segments:
Global Electric Wheelchair Market, By Product Types
- Center Wheel Drive Chair
- Front Wheel Drive Chair
- Rear Wheel Drive Chair
Global Electric Wheelchair Market, By Type
- Adult Wheelchairs
- Pediatric Wheelchairs
Global Electric Wheelchair Market, By End-users
- Home Care Settings
- Hospitals & Clinics
Global Electric Wheelchair Market, Regional Analysis
- North America
- US
- Canadas
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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