New York, USA, March 16, 2022 (GLOBE NEWSWIRE) -- A new report on the global electric wheel chair market has been added by Research Dive to its repository. As per the report, the market is expected to garner $4,817.6 million by 2028, growing at a CAGR of 8.2% from 2021 to 2028. This report provides thorough insights into the present condition and future outlook of the global industry. The report is drafted by professional market analysts and assures to be a reliable source of data and detailed market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
Factors Impacting the Market Growth:
The increasing rate of physical disabilities and rising cases of accidental injuries across the world are boosting the growth of the global electric wheel chair market. Furthermore, growing advancements in hospitals & home care settings equipment by medical professionals and medical technology providers is projected to give rise to profitable opportunities for the market growth during the forecast period. However, the costs involved in the procurement of electric wheel chairs are anticipated to hinder the market growth.
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COVID-19 Pandemic Impact on the Market:
The abrupt rise of the COVID-19 pandemic has negatively impacted the growth of the global electric wheel chair industry. In the pandemic period, numerous electric wheel chair makers, such as Permobil and Ottobock SE & Co KGaA, faced various challenges in the supply of their products due to a shortage of raw materials. This has restrained the global market growth significantly. However, as soon as the pandemic situation resolves, the production of electric wheel chair will resume and its demand is likely to rise, thus boosting the market growth.
The report segments the global electric wheel chair market into product type, end-user, and region.
Front-Wheel Drive Sub-Segment to Observe Widespread Growth
Among product type segments, the front-wheel-drive sub-segment is expected to experience significant growth and garner $939.8 million during the forecast period. The growth of this sub-segment is mostly because of the enhanced stability and best performance of front-wheel type electric wheel chairs.
Homecare Settings Sub-Segment to Experience Highest Growth
Among the end-user segment, the homecare settings sub-segment is projected to observe the highest growth by garnering $3,108.4 million by 2028. The rising cases of physical disabilities are due to the growing occurrence of chronic disorders and the increase in the elderly population across the globe.
Asia-Pacific Region to Observe Significant Growth
The report analyzes the global electric wheel chair market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia Pacific region market is expected to garner a revenue of $1,108.1 million during the estimated timeframe. The growth of this regional market is mainly owing to the rising support from the government bodies to offer efficient mobility aids and equipment for helping disabled and sick people in the region.
Major Players in the Market:
The report lists some of the leading players functioning in the global electric wheel chair industry including
- Invacare Corporation.
- Permobil
- Miki Kogyosho Co., Ltd.
- Pride Mobility Products Corp.
- Karma Medical Products Co., LTD.
- MATSUNAGA MANUFACTORY Co., Ltd.
- MEYRA GmbH,
- NISSIN MEDICAL INDUSTRIES CO., LTD.
- OTTOBOCK
- Sunrise Medical., and others.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. - Check Which companies are launching their value-added services in the international market
For instance, in March 2020, Invacare Corporation, an American producer and distributor of non-acute medical equipment, launched the Invacare® AVIVA™ FX Power Wheelchair, setting a new benchmark for the front-wheel-drive power mobility industry.
Related Top Articles:
- Strategic Partnerships and Product Launches by Market Players such as Invacare Corporation, Sunrise Medical, and Others to Foster the Growth of the Global Electric Wheel Chair Market
- How to Choose the Perfect Electric Wheel Chair for You?
- The Global Electric Wheel Chair Market Anticipated To Register A Revenue Of $4,817.6 Million, Growing At A CAGR Of 8.2% From 2021 To 2028
