Electric Wheelchair Market Overview
The electric chair is one such invention that made life convenient for people fighting with a physical disability. The electric wheelchair market is estimated to witness a compound annual growth rate (CAGR) of 6.7 % during the forecast period from 2020 to 2027 and will reach a value of USD 3,061.64 million.
The advancement in technology is transferring invention to the next level. The product is high in demand due to multiple features and advanced usage. The manufacturers are making its usage easier along with the lightweight feature. These improvements are driving the demand of the electric wheelchair market. The introduction of IoT and artificial intelligence in the market has enhanced the feature of the product. It became more convenient for the users.
Many growth factors drive the electric wheelchair market value at the global level by accelerating its demand. Advanced featured electric wheelchair by the key players is driving the market’s growth. The key player’s focus to make the usage more efficient is driving the market’s demand. The multi-functionality features propel the usage of the product. These advanced factors let people choose an electric wheelchair over a traditional wheelchair because of the innovative multi-functionality features and the designer’s efforts which made it easier to use and navigate.
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During the pandemic period, the electric wheelchair market noticed mild effects which challenged its manufacturer. The lockdown has ordered to shut down the manufacturing units of the industry. But at the same time, the market also noticed a good growth rate when the use of electric wheelchairs increased in the hospital and clinics. When the beds were limited due to the rise in the number of COVID patients, the patients found wheelchairs as a medium of comfort, which has led to the demand of the market.
Electric Wheelchair Market Segmentation
The electric wheelchair market is fragmented into major types, such as the product type, battery type and end-user. These segments are further sub-segmented into different segments.
The product type segment of the electric wheelchair market is divided into Center Wheel Drive Chair, Front-Wheel Drive Chair, and Back Wheel Drive chair.
The End-user section of the market is segregated into home care settings and hospitals and clinics where its usage is higher. The battery type segment is classified into the dry-battery electric wheelchair and wet-battery electric wheelchair.
Electric Wheelchair Market Regional Analysis
According to the geographical analysis, the electric wheelchair market is distributed into major regions such as North America, South America, Europe, Asia-Pacific, Middle-East, and Africa.
Among all the above regions, North America is expected to hold the largest share value of the Electric Wheelchair Market share by 2023. The Asia- Pacific region is estimated to show a rise in growth rate due to the growing demand for electric wheelchairs in the end-users section. Other regions are also expected to show a significant growth rate during the forecast period.
The top companies in the electric wheelchair market are
- Pride Mobility Products Corp (US)
- Levo AG (Switzerland)
- Sunrise Medical (Germany)
- Quantum Rehab (US)
- Permobil AB (Sweden)
- Invacare Corporation
- Drive Medical (US)
- Ottobock (Germany)
- GF Health Products, Inc. (US)
- Karman Healthcare, Inc. (US).
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South Korea’s major telecom company, KT, at MWC, a mobile device exhibition in Barcelona, Spain, announced the launch of Electric wheelchairs with enhanced user convenience and safety functions associated with artificial intelligence and the internet of things (IoT) technologies. The wheelchair can automatically make emergency calls and recognize collisions and abnormal situations.
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