Electric Wheelchair is Market Segmented by Product Outlook (Revenue, USD Million, 2020 - 2027)of Centre Wheel Drive Electric Wheelchair, Front Wheel Drive Electric Wheelchair, Front Wheel Drive Electric Wheelchair and Application Outlook (Revenue, USD Million, 2020 - 2027) forHospital, Home
An electric or motorized wheelchair is defined as any seat with wheels fixed to it and that is set in motion by an electric-based motor or power source. An electric wheelchair is usually used by patients who are unable to walk by themselves and are also unable to propel themselves using a normal wheelchair. It is therefore mainly used by the elderly and quadriplegics as well as people with certain neurological deficits.
Electric Wheelchair Market size was estimated at $2,662.9 Million in 2021 and is expected to reach $4,446.8 Million by 2031, growing at a CAGR of 7.6% during the forecast period of 2022 to 2031.
There has been a huge increase in demand for electric wheelchairs mainly due to the increasing number of orthopedic and neurological deficits in patients. Also an increase in the number of elderly patients that require wheelchairs but are unable to propel it themselves causing an increase in the need for electric wheelchairs.
The major problems with this increase in demand are that it skyrockets the prices of these wheelchairs making it too expensive for a lot of patients with these disorders to acquire one. Another problem is that electric wheelchairs are very difficult and complex to assemble correctly and if this process is sped up in order to meet the rising demand could increase the problems that may occur with this device. This could mean an increase in repairs which costs more for patients as well as an increase in the dangers of these machines.
Electric Wheelchair Market Growth and Trends
Increase in geriatric population serves as one of the key drivers in the electric wheelchair market growth, as weakness and fall-associated injuries are common occurrences among the geriatric population. Moreover, increase in the frequency of accidents acts as another significant growth driver of the electric wheelchair market, since accidents may cause temporary or permanent disabilities where mobility becomes a challenge. Electric wheelchairs have a high demand as they ensure safe and comfortable transfer of patients from one location to another. Thus, increase in the number of accidents is most likely to foster growth of the electrical wheelchair market demand in the forthcoming days. Technological advances have bolstered the development of automated mobile systems, thereby reducing manual intervention of caregivers. A patient is easily able to adjust the wheelchair’s seat and can operate the equipment using a remote control or automated controls installed in the wheelchair itself. Besides, wheelchairs that are enabled with artificial intelligence features have been introduced in the market allowing disabled people to control their wheelchair with the help of various facial expressions, including raising of the eyebrows and sticking out their tongues. Thus, the need for technological advances in this machine that looks at improving comfort and safety of users is a boosting demand factor providing lucrative opportunities for the stakeholders engaged in the electric wheelchair industry. The market growth is therefore very steep for high product utility.
The demand for electric wheelchairs is anticipated to be slightly affected across the world, as a result of disruptions in the supply chain disruptions and implementation of strict restrictions to follow social distancing and lockdown across the world. Resurgence of the second wave of coronavirus in Europe is a major challenge the market is expected to face in the near future along with other Asian countries facing the same predicament.
Electric Wheelchair Market Competition
Key companies operating in this industry are Golden Technologies, Drive Medical, Invacare Corp, Hoveround Corp, Heartway, 21st Century SCIENTIFIC Inc., Pride Mobility Products Corp, EZ Lite Cruiser, Merits Health Products and Dane.
• Electric Wheelchair Market Revenue Estimation and Forecast (2022 – 2031)
• Production Estimation and Forecast (2022 – 2031)
• Sales/Consumption Volume Estimation and Forecast (2022 – 2031)
• Breakdown of Revenue by Segments (2022 – 2031)
• Breakdown of Production by Segments (2022 – 2031)
• Breakdown of Sales Volume by Segments (2022 – 2031)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Electric Wheelchair Market Segmentation
Product Outlook (Revenue, USD Million, 2022 - 2031)
• Centre Wheel Drive Electric Wheelchair
• Front Wheel Drive Electric Wheelchair
• Front Wheel Drive Electric Wheelchair
Application Outlook (Revenue, USD Million, 2022 - 2031)
Country (Revenue, USD Million, 2022 - 2031)
• United States
• South Korea
• Rest of Asia Pacific
• Rest of Europe
• Rest of South America
The Middle East and Africa
• Saudi Arabia
Electric Wheelchair Market Companies
• Golden Technologies
• Drive Medical
• Invacare Corp
• Hoveround Corp
• 21st Century SCIENTIFIC Inc.
• Pride Mobility Products Corp
• EZ Lite Cruiser
• Merits Health Products
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