Electric Wheelchair Market is expected to foresee significant growth during the forecast period. North America to witness the highest growth
- September 25, 2021
- AUTOMOTIVE, NEWS
- Electric Wheelchair Market, Electric Wheelchair Market news
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Global Electric Wheelchair market is expected to reach the market valuation of USD XX million by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from USD XX million in 2020. Electric wheelchair or electric-powered wheelchair (EPW), is a wheelchair powered by an electric motor. It is a wheelchair that reduces manual activity or does not require any human assistance to move a wheelchair. This wheelchair comes in various types like center wheel drive, front-wheel drive, and standing electric wheelchair. The wheelchair type is used according to the type of surface and space on which the wheelchair is to be used.
The rising prevalence of geriatric population is expected to increase demand for electric wheelchairs to support the geriatric population with disabilities, which is expected to drive growth of the global electric wheelchair market in the near future. For instance, according to the report of World Population Ageing 2017, the global population aged 60 years or over numbered 962 million in 2017, and the number of older people is expected to double again by 2050 and is projected to reach around 2.1 billion.
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Furthermore, increase in cases of accidents acts as a key growth driver of the electric wheelchair market. This is attributed to the fact that accidents can cause temporary or permanent disabilities. It is cumbersome for caregivers to carry patients to the toilet. According to WHO, 50 million people across the globe suffer from injuries due to road accidents. Electric wheelchair helps to safely and comfortably transfer patients from one location to another. Thus, increase in number of accidents is expected to boost the growth of electrical wheelchair market demand in the near future.
However, some of the restraints in the market are excessive cost of electric wheelchair and lack of awareness and infrastructure. Electric wheelchair is costly due to the use of specialized and automated controls. The need to use high-quality materials for manufacturing the final product incurs additional cost, which limit the adoption of the equipment. Furthermore, the procurement of these equipment by consumers and healthcare facilities and other institutions is hampered by factors such as budgetary restrictions, low disposable income, and unavailability of funding from government agencies. Thus, high initial costs of electric wheelchair acts as a key restraint of the global electric wheelchair market.
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Based on end user segment, the market is segmented into the market is categorized into hospitals & clinics, home-users, sports conditioning and others. The hospitals segment is projected to show fastest growth over the coming years, due to increasing medical emergencies that require electric wheelchairs. The post-surgical procedures enhance the demand for electric wheelchairs.
Home-users segment held substantial share in 2020 due to rising prevalence of arthritis and developmental disabilities among ageing population. Additionally, rapid adoption of electric wheelchair for indoor application among disabled children & injured adults coupled with the launch of advanced electric wheelchairs specifically designed for homecare are anticipated to propel the growth of this segment in the near future.
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Additionally, the report provides detailed initiatives that are being taken in the field of Electric Wheelchair. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of World has been conducted. North America is expected to dominate the Electric Wheelchair market owing to rising collaborations and partnerships between market players. For instance, in August 2020, Sunrise Medical announced the acquisition of two leading global pediatric brands, Leckey and Firefly to expand Sunrise Medical’s existing pediatric mobility portfolio.
In addition to this, surging number of people affected by mobility impairment disorders and rise in geriatric population in the region are some other major factors making headway for the growth of electric wheelchair market in North America.
Invacare Corporation, Sunrise Medical (US) LLC, Permobil Inc., Pride Mobility Products Corporation, Drive Devilbiss Healthcare, Hoveround Corporation, Ottobock Healthcare, 21st Century Scientific, Inc., Meyra GmbH and LEVO AG. are some of the prominent players operating in the global electric wheelchair market. Several M&A’s along with partnerships have been undertaken by these players to develop new and innovative products.
Global Electric Wheelchair Market Segmentation
Market Insight, by Product Type
- Centre Wheel Drive
- Front Wheel Drive
- Rear Wheel Drive
- Standing Electric Wheelchair
Market Insight, by Age Group
Market Insight, by End-User
- Hospitals and Clinics
- Sport Conditioning
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Invacare Corporation
- Sunrise Medical (US) LLC
- Permobil Inc.
- Pride Mobility Products Corporation
- Drive Devilbiss Healthcare
- Hoveround Corporation
- Ottobock Healthcare
- 21st Century Scientific, Inc.
- Meyra GmbH
- LEVO AG