Electric Wheelchair Market Size to Surpass USD 15.4 Bn by 2030

Ottawa, Sept. 08, 2022 (GLOBE NEWSWIRE) -- The global electric wheelchair market size will reach at USD 7.35 billion in 2022. The electric wheelchair product is mainly a machine that is used as a wheelchair and is operated with the help of electrical energy. It is also known as electric powered wheelchair or motorized wheelchair. It consists of a small motor and batteries which provide movement to this machine. It has various types according to the mechanism which is used in the system.

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What is the regional impact in the electric wheelchair market?

• The region of North America as a market has produced the highest results pertaining to the huge geriatric population living in this nation. The presence of many old age homes has boosted the demand for electric wheelchair where special care and attention is provided to the elders in order to provide them with maximum comfort and safety.
• The European region has also shown a considerable growth on account of the advanced medical facilities provided by the government to the people. The rapid urbanization and industrialization of this region has boosted the demand for automated machines and facilities.
• The Asia-Pacific region has proved to be a potential market for the electric wheelchair pertaining to the increasing disposable income of the people residing in this region. The increasing awareness regarding advanced medical facilities has also propelled the size of the market during the forecast period.
  
  

Key Insights:

• North America electric wheelchair market size was accounted at USD 2.7 billion in 2021.
• North America region has contributed 42.5% market share in 2021.
• Asia-Pacific is poised to grow at a CAGR of 9.5% between 2022 to 2030.
• Front wheel drive segment is poised to grow at a registered CAGR of 9.3% from 2022 to 2030.
• The center wheel drive segment has contributed market share of over 40% in 2021.
  
  

Report Highlights

• On the basis of type, the center wheel drive type has dominated the market as a result of its multi-functional approach and stability. It also provides a smaller turning radius which makes it more portable and usable as compared to its competitors.
• On the basis of end user, the market is dominated by the hospitals as a result of the huge number of patients visit this sector on a daily basis. The demand and supply are primarily generated in this industry. Home care becomes the next market which proves to be the fastest growing market as a result of the increasing old age homes globally. In order to provide maximum care and comfort to the elderly people, electric wheelchairs are used rapidly. The use of electric wheelchair has made the elderly people independent of.
• On the basis of region, North America as a market has shown the maximum growth in the segment as a result of the huge demand experience by the market. The increasing incidents of accidents in the developing nations has boosted the need for electric wheelchair in the hospital sector. The European nations to prove to be a potential market for the electric wheelchair.
  
  

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Scope of the Report

Market Dynamics

Drivers

An increasing demand for safety and comfort in the accessory services provided in the healthcare industry has boosted the demand for electric wheelchair. The inclusion of artificial intelligence in the electric wheelchair system has boosted its demand to a great extent. Facial expressions and gestures are taken into consideration for conducting the required movements which provides complete independence to the consumer. In order to gain independence from care givers, elders usually prefer to opt for automated services that can provide movement. The rapidly rising cases of high velocity accidents in the developed nations has also propelled the demand for automated electric wheelchairs. The hospital sector proves to be a great driving force for the growth of the market.

Restraints

The risk of mechanical malfunctioning which is associated with the use of automated electric wheelchairs has proved to be a restraining factor for the market. The after-sales services are very primitive and required advancements in order to boost the market. The occurrence of the pandemic had a significant impact on the growth of the market due to the lack of transportation facilities and strict lockdowns. Patient flow and regulation in the hospitals regarding lower limb disorders had reduced due to risk of spreading the infection. Hence the sales and demand were hampered to a great extent. These multiple reasons prove to be the restraining factors for the development of the market during the forecast period.

Opportunities

Various lucrative opportunities are offered by the healthcare industry to this market as a result of the rapid rise in orthopedic surgeries. Increasing modernization and urbanization has boosted the number of road traffic accidents which benefits the market growth. The high level of comfort which is experienced by the patient is also proving to be a great opportunity for the market. The rapidly increasing number of people with physical disabilities has also increased the demand for electric wheelchair which provides them sufficient movement. The advanced technologies of artificial intelligence which is used in the electric wheelchair has provided the market numerous opportunities.

Challenges

The electric wheelchair has been designed in order to enable the geriatric population to perform movement independently. Hence, the use of artificial intelligence has been seen in its mechanism which provides comfort to the patient. Technical glitches experienced by the patient proves to be a challenge for the growth of the market. As the individual using a wheelchair is disabled, any technical fault created leads to a great discomfort for the consumer. Failure of any component of the electric wheelchair proves to be a bad experience for the user. This negative impact hinders the growth of the market. The heavy weight of the electric wheelchair makes it difficult for the consumers to carry it along during traveling. The high cost associated with the electric wheelchair makes it an unaffordable affair for the consumer due to the shortage of disposable income with the people.

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Recent Developments

• In January 2021 - Invacare Corporation along with its associated company, Alber USA LLC, disclosed the launch of the power assist devices. These devices are launched as the next generation technology. The Alber e-motion power is an assist device that is used for manual wheelchairs in order to provide a push rim system. It consists of an in-hub motor which is considerably powerful and is connected to lithium-ion batteries for energy.
  
  

Market Segmentation

By Product

• Center Wheel Drive
• Front Wheel Drive
• Standing Electric Wheelchairs
• Rear Wheel Drive

By End Users

• Hospitals & Clinic
• Home Care
• Sports Conditioning
  
  

By Age Group

• 60 years
• 21 to <60 years
• < 20 years
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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