Electric Wheelchair Market Size, Share, Growth Rate Analysis, Regional Trends, and Opportunity Assessment
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.
Electric
Wheelchair Market size is expected to reach USD 6.43
Billion by 2030 at 6.8% CAGR during the forecast period 2022-2030.
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.
Major Key
Players:
MRFR recognizes the Electric Wheelchair Market Players are— 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).
Segment Analysis
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.
Regional Analysis
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 2030. 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.
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Future
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