This Report Provides In-Depth Qualitative and Overall Analysis of the” Electric Wheelchair Market ” on a Regional Level from 2018 to 2023. The Study also Provides a Comprehensive Review of Restraints, Market Dynamics, Drivers and Opportunities along with their Impact on the Overall Market. The Report Segments the industry and Key Developments and Strategies for Key Players.
Electric Wheelchair Market – Highlights
The growth of the global electric wheelchairs market is sustained by the rise in geriatric population. Equipped with sensors and other assistive technology, electric wheelchairs help to alleviate the problems of mobility in the elderly populace. In addition, they are also beneficial to those who are unable to use manual wheelchairs.
The need for smart wheelchairs for disabled people is a significant factor boosting the growth of the market. People with motor, sensory, or cognitive impairment are unable to use manual wheelchairs or joysticks and find it extremely advantageous to use smart electric wheelchairs.
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The superior advantage of convenience acts as a motivating force for the growth of the market. Being user-friendly, they can be easily operated by aged people or consumers with disabilities. Other than patients with mobility issues, they can also be of use to accident patients and patients suffering from other chronic conditions.
The sophistication of technology and ready availability, and the development of prototypes have influenced the growth of the market to a great extent. To accommodate the pool of users who are unable to operate wheelchairs, massive efforts have been made by researchers to develop assistive technologies and make improved electrical wheelchairs which have further helped the global electric wheelchairs market progress. Other driving factors include the rise in incidences of road accidents, a growing number of patients with spinal deformities and rising purchasing power of consumers. However, the growth of the market might be hindered by the high cost of electric wheelchairs, and lack of awareness in the developing regions.
Electric Wheelchair Market – Segmentation
The global electric wheelchair market has been segmented based on product and end use. By product, the market has been segmented into an electric indoor chair, electric outdoor chair, dual-purpose chair, rear wheel drive chair, front wheel drive chair, center wheel drive chair, standing electric wheelchair, and others. By end use, the market has been segmented into home care settings, hospitals/clinics, and others.
Electric Wheelchair Market – Competitive Landscape
GF Health Products Inc., Drive Medical Ltd., MEYRA GmbH, Karman Healthcare, OttoBock Healthcare GmbH, Medical Depot, Inc., Sunrise Medical Limited, Pride Mobility Products Corp, Quantum Rehab, Invacare Corporation, Permobil AB, Hoveround Corporation, LEVO Ag, Whill Inc., and Permobil AB are the eminent players operating in the global electric wheelchair market.
Electric Wheelchair Market – Regional Analysis
The Americas, Europe, Asia Pacific, and the Middle East & Africa are the key markets for an electric wheelchair. The Americas is an established market and has been posting continuous growth owing to the inflated demand for electric wheelchairs due to higher affordability, high awareness regarding the product and greater inclination towards technologically advanced equipment. Favorable reimbursement scenario and government support for the aged population in the form of subsidies for medical equipment and medical facilities also support the growth of the market.
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Europe too is a strong market and has been exhibiting steady growth due to high investment in research & development activities. Asia Pacific is expected to grow at a rapid pace on account of rising purchasing power and awareness in the region. In addition, the rise in geriatric population, increasing penetration of electric wheelchairs, and increasing interest from manufacturers in investing in the developing economies of China, and India also create a conducive environment for the growth of the market in Asia Pacific. The Middle East & Africa market is anticipated to exhibit fast growth due to the development of the medical facilities in the region.
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