Electric Wheelchair Market
Electric Wheelchair Market - Global Industry Assessment & Forecast
- By Drive Type Center Wheel Drive Chair, Front Wheel Drive Chair, Rear Wheel Drive Chair
- By End User Home Care Settings, Hospitals & Clinics
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 2.7 Billion|
|Revenue 2028:||USD 4.3 Billion|
|Revenue CAGR (2022 - 2028):||8.1%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
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- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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The Global Electric Wheelchair Market is valued at USD 2.7 Billion in the year 2021 and is forecasted to reach a value of USD 4.3 Billion by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 8.1% over the forecast period.
An Electric Wheelchair, often known as a powered wheelchair, is a form of transportation for those unable to walk. Electrical power sources, such as sealed lead-acid (SLA) batteries, move it forward. Under the seat is a power base that stores the wheels, motors, brakes, batteries, and wire harnesses. Gel-filled headrests, backrests, cushions, molded foam, and air-filled bladders are included. Electric Wheelchairs are often controlled by joysticks or switches that allow users to control movement and acceleration. One of the primary factors driving market expansion is the rising frequency of neurological illnesses, which coincides with the growing geriatric population, which is more vulnerable to orthopedic ailments. Furthermore, Electric Wheelchairs make it easier for people to go around uneven terrain, soft terrain, grass, and gravel.
Electric Wheelchair Market Size, 2021 To 2028 (USD Billion)
Compared to their traditional equivalents, they also help with pressure relief, posture management, and dependency reduction. In addition, the introduction of Electric Wheelchairs that can be controlled by voluntary motions such as head and tongue movement, breath actuation, and lower extremity control is boosting the market growth. However, the rise in disabilities due to an aging population and the prevalence of chronic diseases is expected to continue to be a significant driving factor for the market studied, encouraging hospitals and healthcare facilities to use Electric Wheelchairs to improve the welfare of patients and healthcare workers. In addition, Electric Wheelchairs are employed in-home care settings to safely and comfortably transfer patients from one location to another. As a result of the extraordinary increase in the geriatric population, demand for Electric Wheelchairs is predicted to rise in hospitals and aged care facilities.
The Electric Wheelchair Market is segmented based on Drive Type, End-User, and Region. Based on Type, the market is sub-segmented as Center Wheel Drive Chair, Front Wheel Drive Chair, and Rear Wheel Drive Chair. Based on End Users, the market is further sub-segmented as Home Care Settings and Hospitals & Clinics.
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Based on Drive Type:
Based on Drive Type, the sub-segment Center Wheel Drive Chair, along with its small turning radius, light front tires, ease of manoeuvring through tight spaces, and better stability, the center wheel drive segment leads in terms of Electric Wheelchair Market share; however, the Front Wheel Drive sub-segment is expected to gain significant traction in the coming years.
Based on End User:
Based on End Users, the Home Care Settings sub-segment is expected to dominate the market in the forecast period. As a result, the Home Care Setting sub-segment will likely lead the market over the projected period. On the other hand, the Rear-Wheel Driven wheelchair sub-segment is predicted to account for the largest market share due to its ease of use and manoeuvrability indoors and outdoors with the help of a joystick.
Asia Pacific - Projected to Grow at the Fastest CAGR During the Forecast Period
Asia Pacific is accounted to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. In addition to the advancements in healthcare facilities and increasing government attempts to provide superior mobility equipment, the area is supported by a vast population base in nations such as India and China. Furthermore, countries with a large senior population, like Japan, benefit from market expansion. According to an article in The Japan Times, the country's population over certain age accounted for a certain number of percentages of the people, the highest proportion in the world. However, the way of living in the area may make wheelchairs unnecessary. In addition, the rising adoption of vehicles in nations such as China, India, South Korea, and others has resulted in increased traffic and, as a result, an increase in the number of road accidents in the Asia Pacific, excluding Japan.
The key players in the Electric Wheelchair Market include- GF Health Products (US), Sunrise Medical (Germany), Quantum Rehab (US), Permobil AB (Sweden), Pride Mobility Products Corp (US), Invacare Corporation (US), Drive Medical (US), Ottobock (Germany), Levo AG (Switzerland), Karman Healthcare (US).
Segmentation of Electric Wheelchair Market:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
What is the global demand for Electric Wheelchair in terms of revenue?
The global Electric Wheelchair valued at USD 2.7 Billion in 2020 and is expected to reach USD 4.3 Billion in 2028 growing at a CAGR of 8.1%.
Which are the prominent players in the market?
The prominent players in the market are GF Health Products (US), Sunrise Medical (Germany), Quantum Rehab (US), Permobil AB (Sweden), Pride Mobility Products Corp (US), Invacare Corporation (US), Drive Medical (US), Ottobock (Germany), Levo AG (Switzerland), Karman Healthcare (US).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 8.1% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Electric Wheelchair include
- Upsurge in geriatric population
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Electric Wheelchair in 2020.