New York, USA, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Electric Wheelchair Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Electric Wheelchair Market Information by Type, End-User, and Region - Forecast till 2027”, the market can record a growth rate of 6.7% from 2020 to 2027, and touch USD 3.06 billion by 2027.
Market Synopsis
Electric wheelchairs refer to motorized wheelchairs that come with wheels as well as a set of batteries that offer sufficient power to ensure movement of the wheelchair in any direction. This helps reduce physical exertion. These wheelchairs require no human assistance and facilitate smooth mobility.
Electric wheelchairs are also called power wheelchairs, electric-powered wheelchairs, and motorized wheelchairs.
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Report Scope:
| Report Attribute | Details |
| 2027 Market Size | USD 3.06 Billion |
| CAGR | 6.7% |
| Base Year | 2018 |
| Forecast Period | 2020-2027 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Product launches and Expansion in emerging markets |
| Multi-Functionality Features of electric wheelchair over a traditional wheelchair |
Electric Wheelchair Market Competitive Landscape:
The affluent companies in the electric wheelchair market include
- Ottobock (Germany)
- Permobil AB (Sweden)
- GF Health Products
- Drive Medical (US)
- Pride Mobility Products Corp (US)
- Sunrise Medical (Germany)
- Levo AG (Switzerland)
- Quantum Rehab (US)
- Karman Healthcare
- Invacare Corporation
July 2022
The Mountain Trike Company introduces its latest electric wheelchair ePush in Birmingham. The ePush has been created keeping in mind a variety of user feedback. This latest offering will offer the user electric assistance to allow them to deal with steeper hills, extremely challenging terrains, and go on many adventures. It comes with a 36V 250W Hub motor, 36V, 12.8Ah Lithium Ion Battery along with a mains charger.
Market USP Covered:
Market Drivers:
For the expanding elderly populace, the use of manual wheelchairs is an exhausting task. This has raised the demand and preference for electric wheelchairs that provide independence to the patients. Manufacturers are focused on developing different designs as well as ergonomics that facilitate the comfort level of the patients. Self-driving wheelchairs featuring visual sensors, and ultralight electric wheelchairs are currently the top choices among patients. The rising number of product launches by the vendors in the market should augment the growth rate as well.
The favorable reimbursement scene in developed economies will favor the market too. To cite a reference, the Part B of Medicare Part is focused on power-operated vehicles, with the users expected to pay just 20% of the overall amount while the remaining 80% is paid by Medicare. However, this is only the case when the doctor gives a proper order listing the need of a wheelchair at home.
Market Restraints:
Low awareness levels about the latest types of wheelchairs and the poor economic growth in underdeveloped countries could challenge the worldwide market in the long run. Also, poor healthcare infrastructure in a few underdeveloped countries can have a detrimental effect on the global industry.
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COVID 19 Analysis
The COVID-19 outbreak’s notable impact has led to various repercussions on the health status of people across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. Also, the impact on the supply chains of several companies will be unfavorable for the electric wheelchair market.
Electric Wheelchair Market Segmentation
By Product Type
The major product types discussed in the MRFR study are back-wheel drive chairs, Front-Wheel Drive Chairs, Center Wheel Drive Chairs, and more. The center-wheel drive chair segment has secured the top position in the electric wheelchair market, given the product’s light front tires, small turning radius, better stability; and easy maneuverability through narrow spaces. On the other hand, the front-wheel drive segment can gain significant traction in the following years.
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By End-Users
The top market end-users are Home-care settings as well as Hospitals and Clinics. The leading position belongs to the home-care setting segment, on account of the high need to be independent and the ease of movement while using an electric wheelchair at home.
Electric Wheelchair Market Regional Insights
North America seems to be the biggest gainer in the worldwide market. The regional market’s unparalleled growth is the result of the robust base of highly affluent firms and the soaring instances of chronic diseases. The mushrooming base of geriatrics in the US as well as Canada along with the escalating demand for electric wheelchairs with the latest features in light of the rising disability rate benefit the market as well. The electric wheelchairs market here also sees substantial demand among obese individuals, as the condition doesn’t allow them to carry out activities that need quick mobility.
APAC will advance at the fastest pace in the following years, with China gaining the highest portion of the regional market. The vast patient based in the region coupled with the soaring number of well-equipped hospitals and healthcare facilities also induces significant market growth. The developing healthcare infrastructure, rise in government initiatives encouraging the adoption of innovative mobile devices, and the surging knowledge about the latest variants of wheelchairs will favor the APAC market.
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The MEA electric wheelchair market size is fostered by the mounting awareness level regarding the latest treatment options and the surge in government initiatives aimed at providing assistive devices to disabled individuals.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
