Dublin, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The "Electric Wheelchair Market Forecast 2024-2031" report has been added to ResearchAndMarkets.com's offering.
The Global Electric Wheelchair Market is experiencing robust expansion, valued at US$ 7.3 billion in 2023, and projected to grow at a CAGR of 11.37% from 2024 to 2031, reaching US$ 16.41 billion in 2031.
The electric wheelchair market has experienced significant growth driven by technological advancements and an increasing focus on accessibility. Key factors propelling market expansion include improvements in battery technology, making electric wheelchairs more reliable and longer-lasting.
Additionally, advancements in design have led to lighter and more maneuverable models, enhancing user comfort and usability in both indoor and outdoor settings. The market is also influenced by rising healthcare expenditures globally and government initiatives promoting inclusivity and accessibility.
As demographics shift towards an aging population in many regions, there is a heightened demand for electric wheelchairs that provide not only mobility but also ergonomic comfort and safety features. This combination of technological innovation and demographic trends underscores the promising future of the electric wheelchair market.
Segmental Overview
On the basis of product, the market is segmented into center wheel drive, front wheel drive, rear wheel drive, standing electric wheelchair, push-rim-activated power-assisted wheelchairs (papaws), with center wheel drive electric wheelchairs being particularly popular. these wheelchairs feature six wheels, providing excellent traction and stability to prevent accidents like tipping over physical barriers such as stairs, which account for 87% of wheelchair incidents. Mid-wheel drives are noted for their exceptional maneuverability, boasting the smallest 360-degree turning radius (20 to 26 inches) among wheelchair types, which contributes to their high demand and compound annual growth rate (CAGR).
An electric wheelchair consists of several components including joysticks, batteries, transmission belts, and motors, with motors holding the largest market share based on the component. Each drive wheel requires a pair of motors, and the efficiency of these motors significantly impacts battery life and overall wheelchair performance. Brushless DC permanent magnet motors have gained popularity due to their extended service life of tens of thousands of hours compared to traditional brush motors.
Wireless charging is anticipated to dominate over wired charging in terms of growth, offering significant mobility benefits by eliminating the need for plug-in chargers. However, the current infrastructure limitations mean wired charging remains more prevalent. There is a notable shortage of public charging points for wheelchairs, with 61% of disabled individuals indicating they would consider purchasing an electric wheelchair if charging accessibility improved.
The elderly population aged 60 and above represents the largest demographic using electric wheelchairs due to age-related disabilities. The senior care segment is expected to experience the highest CAGR, driven by the increasing elderly population and related chronic illnesses globally, particularly in countries like the US and UK where mobility-related disabilities are prevalent among seniors.
The offline segment dominates the global Electric Wheelchair Market due to personalized services offered by specialist mobility shops, medical stores, and healthcare facilities. These include demonstrations, trials, and consultations, crucial for potential buyers to test wheelchair comfort and usability. Immediate access to technical support, maintenance, and repairs further enhances offline appeal. Conversely, the online segment is growing rapidly with the highest CAGR, driven by convenience. It allows customers to compare products, prices, and reviews from home, often offering competitive pricing and discounts. E-commerce's rise and digitalization expand global market reach, enabling broader audience access.
The Hospitals/Clinics segment dominates the global Electric Wheelchair Market due to its significant demand from healthcare facilities where patients require mobility aids for rehabilitation and daily activities. Hospitals prioritize reliable, high-quality electric wheelchairs that meet rigorous healthcare standards, driving substantial market share. In contrast, the Homecare Settings segment is witnessing the fastest growth in the market. This growth is fueled by increasing preferences for home-based care among individuals with disabilities and seniors, driven by comfort, convenience, and cost-effectiveness compared to hospital stays. Electric wheelchairs play a crucial role in enhancing mobility and independence within home environments, supported by technological advancements catering to complex medical needs at home. As healthcare systems globally promote homecare solutions to improve patient outcomes and reduce hospitalization rates, the demand for electric wheelchairs in homecare settings is projected to expand rapidly.
Regional Overview
Europe holds the highest market share in the global electric wheelchair market primarily due to its substantial elderly population and robust healthcare infrastructure. Countries like Germany, the UK, and Italy have aging demographics that necessitate increased use of electric wheelchairs for mobility support. Moreover, stringent accessibility regulations and supportive healthcare policies in Europe contribute to the widespread adoption of assistive technologies, including electric wheelchairs. These factors ensure that mobility solutions are widely available and affordable for seniors and people with disabilities across the region.
Conversely, the Asia-Pacific (APAC) region is witnessing the fastest growth in the electric wheelchair market. This growth is driven by a rapidly aging population in countries such as Japan, China, and South Korea, coupled with economic development and improving healthcare standards. Rising disposable incomes and increasing awareness about disability rights are also fueling demand for electric wheelchairs in APAC, making them more accessible to a broader segment of the population. As APAC countries continue to invest in healthcare infrastructure and accessibility measures, the electric wheelchair market in the region is expected to expand significantly in the coming years.
Competitive Landscape
The Electric Wheelchair market is characterized by a vigorous competitive landscape, with prominent entities like Drive Medical Design & Manufacturing, Numotion, Invacare, and Sunrise Medical LLC at the forefront, collectively accounting for between 55%-60% of the overall market share. This competitive milieu is fueled by their intensive efforts in research and development as well as strategic partnerships and collaborations, underscoring their commitment to solidifying market presence and diversifying their offerings.
The primary competitive factors include pricing, product caliber, and technological innovation. As the Electric Wheelchair industry continues to expand, the competitive fervor among these key players is anticipated to intensify. The impetus for ongoing innovation and alignment with evolving customer preferences and stringent regulations is high. The industry's fluidity anticipates an uptick in novel innovations and strategic growth tactics from these leading corporations, which in turn propels the sector's comprehensive growth and transformation.
Key Topics Covered
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global Electric Wheelchair Market
Chapter 4. Global Electric Wheelchair Market Outlook
4.1. Electric Wheelchair
4.1.1. Buying Expense Cost Teardown
4.1.2. Top Electric Wheelchair Models
4.2. Top Vendors of Electric Wheelchair
Chapter 5. Global Electric Wheelchair Market Overview
5.1. Industry Value Chain Analysis
5.1.1. Component Provider
5.1.2. Manufacturer
5.1.3. Distributor
5.1.4. End-user
5.2. Consumer Behavior Analysis
5.3. PESTLE Analysis
5.4. Porter's Five Forces Analysis
5.4.1. Bargaining Power of Suppliers
5.4.2. Bargaining Power of Buyers
5.4.3. Threat of Substitutes
5.4.4. Threat of New Entrants
5.4.5. Degree of Competition
5.5. Market Dynamics and Trends
5.5.1. Growth Drivers
5.5.2. Restraints
5.5.3. Challenges
5.5.4. Key Trends
5.6. COVID-19 Impact Assessment on Market Growth Trend
5.7. Market Growth and Outlook
5.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2018 - 2031
5.7.2. Market Volume Estimates and Forecast ('000 Units), 2018 - 2031
5.7.3. Price Trend Analysis
5.8. Competition Dashboard
5.8.1. Market Concentration Rate
5.8.2. Company Market Share Analysis (Value %)
5.8.3. Competitor Mapping
Chapter 6. Global Electric Wheelchair Market Analysis, by Product
6.1. Key Insights
6.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & '000 Units)
6.2.1. Center Wheel Drive
6.2.2. Front Wheel Drive
6.2.3. Rear Wheel Drive
6.2.4. Standing Electric Wheelchair
6.2.5. Push-Rim-Activated Power-Assisted Wheelchairs (PAPAWs)
6.2.6. Others
Chapter 7. Global Electric Wheelchair Market Analysis, by Component
7.1. Key Insights
7.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & '000 Units)
7.2.1. Joystick
7.2.2. Battery
7.2.3. Transmission belts
7.2.4. Motors
7.2.5. Others
Chapter 8. Global Electric Wheelchair Market Analysis, by Charging Type
8.1. Key Insights
8.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & '000 Units)
8.2.1. Wired
8.2.2. Wireless
Chapter 9. Global Electric Wheelchair Market Analysis, by Application
9.1. Key Insights
9.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & '000 Units)
9.2.1. Post-Acute Care
9.2.2. Pediatric care
9.2.3. Maternity Care
9.2.4. Senior Care
9.2.5. Home Care
9.2.6. Sports Injury
9.2.7. Others
Chapter 10. Global Electric Wheelchair Market Analysis, By Distribution Channel
10.1. Key Insights
10.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & '000 Units)
10.2.1. Online
10.2.1.1. E-Commerce Websites
10.2.1.2. Company Websites
10.2.2. Offline
10.2.2.1. OEMs
10.2.2.2. Distributors
10.2.2.3. Others
Chapter 11. Global Electric Wheelchair Market Analysis, by End User
11.1. Key Insights
11.2. Market Size and Forecast, 2018 - 2031 (US$ Mn & '000 Units)
11.2.1. Home care settings
11.2.2. Hospitals/Clinics
11.2.3. Others (Travel & Transport, Hospitality, Education)
Chapter 12. Global Electric Wheelchair Market Analysis, by Region
Chapter 13. North America Electric Wheelchair Market Analysis
Chapter 14. Europe Electric Wheelchair Market Analysis
Chapter 15. Asia Pacific Electric Wheelchair Market Analysis
Chapter 16. Middle East and Africa Electric Wheelchair Market Analysis
Chapter 17. South America Electric Wheelchair Market Analysis
Chapter 18. Company Profiles
(Company Overview, Financial Matrix, Key Product Landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
18.1. Carex Health Brands, Inc.
18.2. Drive Medical Ltd.
18.3. GF Health Products, Inc.
18.4. Invacare Corporation
18.5. Karma Medical Products Co. Ltd.
18.6. Karman Healthcare
18.7. LEVO AG
18.8. Matsunaga Manufactory Co. Ltd.
18.9. Medline
18.10. MEYRA GmbH
18.11. Miki Kogyosho Co. Ltd.
18.12. Nissin Medical Industries Co. Ltd.
18.13. OttoBock Healthcare GmbH
18.14. Permobil AB
18.15. Pride Mobility Products Corp.
18.16. Quantum Rehab
18.17. Seating Matters
18.18. Sunrise Medical Limited
18.19. Other Prominent Players
For more information about this report visit https://www.researchandmarkets.com/r/4zjo7h
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