Dublin, Nov. 14, 2023 (GLOBE NEWSWIRE) -- The "Electric Wheelchair Market: Trends, Opportunities and Competitive Analysis (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global electric wheelchair market is expected to reach an estimated $7.6 billion by 2028 with a CAGR of 9.2% from 2023 to 2028.
The future of the global electric wheelchair market looks promising with opportunities in the hospital & clinic, home care, and sports conditioning sectors. The major drivers for this market are increasing geriatric population, growing prevalence of disabilities globally, and rising integration of artificial intelligence in automated chairs.
Electric Wheelchair Market by Segment
The study includes trends and forecast for the global electric wheelchair market by product type, end-use industry, and region, as follows:
Electric Wheelchair Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:
- Center Wheel Drive
- Front Wheel Drive
- Rear Wheel Drive
- Standing Electric Wheelchairs
Electric Wheelchair Market by End-use Industry [Shipment Analysis by Value from 2017 to 2028]:
- Hospitals & Clinics
- Home Care
- Sports Conditioning
Electric Wheelchair Market by Region [Shipment Analysis by Value from 2017 to 2028]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
Electric Wheelchair Company Profiles
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, electric wheelchair companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.
Some of the electric wheelchair companies profiled in this report include:
- Matsunaga Manufactory
- Meyra Group
- Invacare Corporation
- Karma Medical Products
- Miki Kogyosho
- Nissin Medical
Electric Wheelchair Market Insights
- It is forecast that center wheel drive will remain the largest product type segment over the forecast period due to the substantial demand for this product owing to its smaller turning radius, lightweight front tires, ease of mobility in confined locations, and improved stability of center wheel drive.
- Hospitals & clinics is expected to remain the largest end-use industry segment due to the increasing number of patients being admitted with injuries or disabilities and a wide usage of these chairs to facilitate patients' mobility in hospitals.
- North America will remain the largest region due to the presence of well-established healthcare infrastructure, favorable government spending for continually upgrading medical equipment, and increased demand for these chairs in old age homes in order to deliver the best services in the region.
Features of the Electric Wheelchair Market
- Market Size Estimates: Electric wheelchair market size estimation in terms of value ($B)
- Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Electric wheelchair market size by various segments, such as by product type, end-use industry, and region
- Regional Analysis: Electric wheelchair market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different product types, end-use industries, and regions for the electric wheelchair market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the electric wheelchair market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers following key questions:
- What are some of the most promising, high-growth opportunities for the global electric wheelchair market by product type (center wheel drive, front wheel drive, rear wheel drive, and standing electric wheelchairs), end-use industry (hospitals & clinics, home care, and sports conditioning), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
- Which segments will grow at a faster pace and why?
- Which region will grow at a faster pace and why?
- What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
- What are the business risks and competitive threats in this market?
- What are the emerging trends in this market and the reasons behind them?
- What are some of the changing demands of customers in the market?
- What are the new developments in the market? Which companies are leading these developments?
- Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
- What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
- What M&A activity has occurred in the past five years and what has its impact been on the industry?
For more information about this report visit https://www.researchandmarkets.com/r/yksuio
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