NEWARK, Del, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The electric wheelchair market will be worth US$ 4,352.4 million by 2023. Between 2023 and 2033, the global market share is predicted to increase by 10.4%. Furthermore, the global electric wheelchair market is expected to reach US$ 11,741.6 million by 2033.
The demand for electric wheelchairs is poised to increase by 2.5X, recording a CAGR of 10.4% over the next ten years. By the conclusion of this forecast period in 2033, the overall electric wheelchair market value is anticipated to reach US$ 11,741.6 million.
The rise in the older population with age-related mobility issues is a leading cause for the growing sales of electric wheelchairs worldwide. Besides that, the need for automated wheelchairs for persons with disabilities is an emerging trend driving the global demand for electric wheelchairs. Furthermore, improving lifestyle with high disposable money is also considered responsible for the electric wheelchair industry's expansion in recent years.
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The worldwide sales of electrical wheelchairs are anticipated to be hampered by the high cost of the devices and lack of infrastructure and awareness.
“Research and development spending in battery-powered wheelchairs with wireless technology has significantly increased, encouraging the creation of specialized products and solutions. In recent years, many small businesses are also developing customized wheelchairs to appeal to sectors with specific requirements.” –Says Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI) analyst.
Key Takeaways from the Global Electric Wheelchair Market Study Report:
- The United States alone manufactured around 18.2% of the world's electric wheelchairs in 2022 because of the presence of significant players in the country.
- In Europe, Germany is the leading manufacturer of electrical wheelchairs, contributing an 8.2% share of the global revenue generated in 2022.
- China now holds a dominant position in Asia with a global market share of 10.1% in 2022 and is anticipated to strengthen through 2033.
- India currently accounts for almost 9.1% of the global revenue and is anticipated to become the leading market for electric wheelchairs in Asia.
- In terms of product type, the center-wheel drive category dominated the electric wheelchair market in 2022 with a 30.1% global market share.
Competitive Landscape for the Electric Wheelchair Market Players
The market is somewhat fragmented, with local and international firms predominating the powered wheelchair industry. The overall market is poised to develop over the introduction of wheelchairs, which enable more effective long- and short-distance ambulation and enhanced freedom.
Recent Developments by the Electric Wheelchair Manufacturing Industries
Sunrise Medical Company introduced an ultra-light QUICKIE Nitrum wheelchair in July 2021. This innovation in mobility aids & transportation equipment provides the best stiffness and strength.
The e-fix eco Power Assist Device from Invacare Corporation was released in February 2022. The improved design of this new technology can transform manual wheelchairs into electric wheelchairs.
An innovative electric wheelchair called the Scewo BRO was introduced in January 2022 by the Swiss firm Scewo. The company claims this innovative product can set new market trends in electric wheelchairs to help persons with mobility problems upstairs.
A mobility aids and transportation equipment manufacturer based in the United States called Segway debuted an egg-shaped pod in January 2020. This electric mobility solution lets patients quickly travel across airports, amusement parks, campuses, and cities.
Electric Wheelchair Market Report Scope:
| Report Attribute | Details |
| Growth Rate | CAGR of 10.4% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ million or billion, Volume in Kilotons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Countries Covered |
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| Key Companies Profiled |
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Electric Wheelchair Market Segmentation:
By Product Type:
- Front Wheel Drive
- Rear Wheel Drive
- Standing Electric Wheelchairs
By End Users:
- Hospitals & Clinic
- Home Care
- Sports Conditioning
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- The Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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