COVID-19 (Coronavirus) has caused a dip in production and lead to volatility in raw material prices in the Electric Wheelchair Market. An early preview into our market estimations and projections will put readers at an edge over others. Formulation of new policies and proactive steps will be lucrative for players and newcomers in the coming years.
Electric Wheelchair Market Analysis
The global electric wheelchair market is likely to grow at a healthy CAGR between 2017- 2023, according to the recent Market Research Future (MRFR) report. An electric wheelchair is powered by a battery and does not need human assistance for mobility. Some of its key benefits include convenience and user-friendly. Along with people suffering from mobility disability, an electric wheelchair is also used by those who met accidental conditions or suffering from cardiovascular diseases. An electric wheelchair is also known as electric power wheelchairs or power chairs. Standing electric wheelchair, center wheel drive chair, front wheel drive chair, rear wheel drive chair, dual-purpose chair, electric outdoor chair, electric indoor chair, and others are the different types of wheelchairs.
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Various factors are adding to the global electric wheelchair market share. These factors, as per the new MRFR report, include growing demand for advanced electric wheelchairs for sports events for disabled people, demand for automated wheelchairs for disabled people, an increase in disposable income, and developing urban setting. Additional factors adding market growth include an increase in accidental conditions, rising prevalence of cardiovascular diseases, increasing geriatric population, ease of mobility, and convenience.
On the contrary, lack of knowledge, poor infrastructure, and the high price of electric wheelchairs are factors that may impede the electric wheelchair market growth over the forecast period.
Electric Wheelchair Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global electric wheelchair market based on end use and product.
By product, the global electric wheelchair market has been segmented into standing electric wheelchair, center wheel drive chair, front wheel drive chair, rear wheel drive chair, dual-purpose chair, electric outdoor chair, electric indoor chair, and others. Of these, the electric indoor chair segment will lead the market over the forecast period.
By end use, the global electric wheelchair market is segmented into hospitals/clinics, home care settings, and others. Of these, home care settings will dominate the market over the forecast period for the majority of the patients on the lookout for recovery from these setups.
Electric Wheelchair Market Regional Analysis
Based on the region, the global electric wheelchair market covers the recent trends and growth opportunities across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will lead the market over the forecast period for higher inclination towards equipment that is technologically advanced and surging demand for electric wheelchairs owing to higher affordability, and increasing awareness about the product. Besides, support from the government for the aging population, such as medical facilities and subsidies for medical equipment, are also adding market growth in the region.
The electric wheelchair market in Europe is predicted to have healthy growth over the forecast period for high investments in R&D activities and the rising number of physically-challenged people in this region. The UK, Italy, Germany, France, and Spain are the key contributors in the region.
The electric wheelchair market in the APAC region is predicted to grow at a quick pace over the forecast period. Factors boosting the market growth include rising purchasing power, increasing awareness about electric wheelchairs, increasing geriatric population, manufacturers’ increasing interest to invest in developing economies of India and China, and rising penetration of electric wheelchairs.
The electric wheelchair market in the MEA is predicted to have sound growth over the forecast period for the development of medical facilities. Meanwhile, the African region is predicted to have slow growth for lack of affordability, especially in poor economies.
Electric Wheelchair Market Key Players
Leading players profiled in the global electric wheelchair market report include Permobil AB, Whill Inc., LEVO Ag, Hoveround Corporation, Permobil AB, Invacare Corporation, Quantum Rehab, Pride Mobility Products Corp, Sunrise Medical Limited, Medical Depot, Inc., OttoBock Healthcare GmbH, Karman Healthcare, MEYRA GmbH, Drive Medical Ltd., and GF Health Products Inc.
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