Electric Wheelchair Market
Global Electric Wheelchair Market is expected to have a market value of USD 3061.64 Million by 2027.
The electric wheelchair market is expecting strong support from various pointers for a better market growth. It is expecting strong growth due to competitors participating more and more in the market to take the market ahead with their strategic moves. Its easy application is fast gaining momentum. Latest innovations are also helping the global market in its growth opportunity. However, high price and maintenance complexity can deter the global electric wheelchair market growth in the coming years.
Electric wheelchairs get power from an electric motor that comes attached with the electric wheelchair. These wheelchairs offer great mobility and are light in weight. These are very compact in size and can be used in narrow pathways. The global electric wheelchair market is expecting substantial market growth during the forecast period (2019-2023). Market Research Future (MRFR) made a claim recently that the global electric wheelchair market can surpass the existing market valuation with relative ease.
Major Key Players:
MRFR recognizes the following companies as the Key Players in the Global Electric Wheelchair Market— GF Health Products, Inc. (US), Sunrise Medical (Germany), Quantum Rehab (US), Permobil AB (Sweden), Pride Mobility Products Corp (US), Invacare Corporation, Drive Medical (US), Ottobock (Germany), Levo AG (Switzerland), and Karman Healthcare, Inc. (US).
Global Electric Wheelchair Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The Americas led the market and accounted for the largest share in 2019. The technological advancement in the electric wheelchair with attachment of gadgets for control and accessibility majorly drive the market growth. Also, the rise in purchasing power, increasing geriatric population, and inclination towards more refined technology have been driving the progress of the electric wheelchair market in the region.
The European electric wheelchair market has been further segmented into Western Europe and Eastern Europe. The Western Europe electric wheelchair market has further been classified into Germany, France, the UK, Italy, Spain, and the Rest of Western Europe. Europe held the second-largest position in the electric wheelchair market with a market share of 29.3% in 2019 and anticipated to witness significant growth over the forecast period due to a higher number of patients and the availability of products in the region. Europe is also expected to have high growth in the electric wheelchair market, owing to the rising number of physically challenged people in the region.
Asia Pacific is anticipated to register the highest growth rate with a CAGR value of 8.5% over the forecast period from 2020 to 2027. According to the United Nations, across Asia, the number of people age 65 and above is expected to grow dramatically over the next 50 years. Moreover, the increasing disposable income of middle-class families, which accounts for a large population in Asia, encouraging them to spend more on health, is driving the growth of the electric wheelchairs market in the region.
The Middle East & Africa electric wheelchair market is segmented into the Middle East and Africa. The growth of the electric wheelchair market in the Middle East and Africa is growing steadily in the past few years. Increasing the prevalence of orthopedics disorders and funding by private players and government bodies is propelling the market growth in this region.
MRFR’s report of the global electric wheelchair market has an in-depth eye on segmentation that can impact the market in the coming years. Such a segmentation has its roots in the value-wise and volume-wise analysis of factors that can impact of the market.
Based on the electric wheelchair types, the electric wheelchair market comprises electric outdoor chair, electric indoor chair, center wheel drive chair, dual-purpose chair, front wheel drive chair, rear wheel drive chair, standing electric wheelchair, and others. The electric indoor chair segment has substantial market coverage. In many countries, lack of outdoor infrastructure can put some restraints on the expected market growth.
Based on the end-use, the electric wheelchair market comprises home care settings, hospitals/clinics, and others. The home care settings market is gaining remarkable coverage with many patients are looking for recovery from such setups.
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