Electric Wheelchair Market-Overview
Electric wheelchairs are in high demand because they enable a person to move without the assistance of another person. As per MRFR, the market is estimated to exhibit a CAGR of 6.7% during the assessment period to reach USD 3,061.64 million by 2027.
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Product launches and business expansion are anticipated to drive the growth in the electric wheelchair market, this will cause a spike in product manufacturing and market demand. Individuals are seeking and preferring electric wheelchairs over regular wheelchairs since the former has multi-functional features, and engineers are attempting to make it easier to navigate and function.
The segmentation of the electric wheelchair market is conducted based on type, end user, and region. The electric wheelchair market is segmented by type based on a front-wheel-drive chair, center-wheel drive chair, and rear-wheel drive chair. By region, the electric wheelchair market is segmented based on Europe, Asia-Pacific, the Middle East, the Americas, and Africa. By end-user, the electric wheelchair market is segmented based on Hospitals & Clinics and Home Care Setting,
Detailed Regional Analysis
In 2019, the Americas led the market and held the principal share. The scientific progress in electric wheelchairs with attachments for control and approachability is a primary driver of market expansion. In addition, an senior population, mounting purchasing power, and a preference for more refined technology are boosting the region’s electric wheelchair industry forward. Europe is also foreseen to see rapid growth in the electric wheelchair market, owing to the region’s maturing population of physically challenged persons. Over the projected period, Asia-Pacific is expected to develop at the most rapid rate, with a CAGR of 8.5 percent. Besides, the intensifying disposable income of Asia’s middle-class households, which account for a strategic portion of the population, is reassuring them to spend more on health care, powering the region’s electric wheelchairs market expansion.
The market is projected to witness an improvement in growth cues in the near future. The reclaimed market potential is projected to augment the worldwide market’s progress. The essential policies being developed by government bodies worldwide are thought to have a powerful role in the global advancement of the market. The restructuring of the market’s fundamental operations is expected to impact the market shortly. The upsurge in innovative technologies in the global supply chain is estimated to generate opportunities during the forecast period. The market’s production stability is predicted to be variable. Each manufacturer is expected to make microeconomic decisions to ensure long-term business growth and continuity during the forecast timeframe. The COVID-19 pandemic’s drastic changes in the global financial intermediation structure are believed to influence how firms acquire finance in the comparable period. The mindset of hypervigilance in the aftermath of the pandemic is intended to guide market decisions throughout the projected period.
The notable companies in the electric wheelchair market are Levo AG (Switzerland), Sunrise Medical (Germany), Pride Mobility Products Corp (US), Quantum Rehab (US), Permobil AB (Sweden), Invacare Corporation, Drive Medical (US), Ottobock (Germany), GF Health Products, Inc. (US), and Karman Healthcare, Inc. (US).
Dec 2021 Bird is expanding the availability of its electric wheelchairs and mobility scooters to other cities. The concept is now being expanded to San Diego by the company and its partner, Scootaround. Wheelchairs and mobility scooters have also lately arrived in San Francisco. The California expansion comes after a successful pilot in New York City. People may search, reserve, and pay for accessible vehicles using a modified Scootaround interface in the Bird app. Riders are given an in-person tutorial and can choose convenient pick-up and drop-off locations.
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