Electric Wheelchair Market

Electric Wheelchair Market: Overview

The market size for electric wheelchair was USD 3217.4 million in 2021, and it is projected to grow at a CAGR of 8.1 percent during the forecast period. Over the course of the forecast period, the global market for electric wheelchairs is anticipated to rise significantly. Over the course of the forecast period, the market is expected to rise due to the rising demand for electric mobility devices among the elderly and individuals with disabilities. The two main reasons predicted to propel the market's growth are the rising older population and the rising prevalence of chronic disorders.

The aging population and rising chronic disease rates are to blame for the growth in impairments. In order to enhance the well-being of patients and healthcare professionals, hospitals and other healthcare institutions use electrical wheelchairs. Additionally, electrical wheelchairs are utilized in home healthcare settings to transfer patients from one location to another safely and comfortably. As a result of the enormous rise in the population of older people, electrical wheelchair demand is predicted to rise in hospitals and nursing homes. According to information provided by the World Health Organization, the proportion of adults 65 and older in the world's population will double from 7% in 2000 to 16% in 2050. By that time, there will be more elderly people than children (ages 0–14) in the population. Thus, it is projected that an increase in the older population will present a market opportunity for electric wheelchair adoption.

Wheelchair designs that continue to evolve technologically are a major trend that is anticipated to drive market sales in the future. The introduction of battery-operated electric wheelchairs is anticipated to help users more. Additionally, thanks to design advancements, wheelchairs can now save, link to, and even monitor the users' health information as well as their medical history. The Invacare Corporation unveiled the AVIVA FX Power Wheelchair in March 2020. It may be used both indoors and outdoors and is built with a combination of new technology to provide improved comfort.

Electric Wheelchair Market: COVID-19 Impact

Due to the disruption of the supply chain and business operations across several locations in 2020 during the COVID-19 pandemic, the market saw a drop. The growing elderly population and the rise in spinal cord injuries requiring assistance with mobility are a few of the key drivers fueling the market's expansion. Around 17,730 new spinal cord injuries occur in the United States each year, with auto accidents being the main cause of injury, according to the National Spinal Cord Injury Statistical Center. As a result, the United States is a significant market for wheelchairs. The transport and mobility sector had been severely impacted by the COVID-19 pandemic. It had significantly impacted the wheelchair's supply chain.  Due to the severe lockdowns put in place, wheelchair operations were stopped in various nations. Due to an increase in the number of elderly patients being admitted as a result of the COVID-19 infection, hospitals have seen constant demand. Businesses are anticipated to restart operations with the updated COVID-19 restrictions.

Electric Wheelchair Market: Drivers

Increasing Proportion of Elderly People to Drive Market Growth

The increase in disability that will help the industry is being fueled by both the aging of the population and the incidence of chronic diseases. In order to improve the well-being of patients and healthcare professionals, electrical wheelchairs are employed in hospitals and other healthcare settings. The World Health Organization estimates that by the end of 2050, the percentage of those 65 and older in the global population will have quadrupled, going from 7% in 2000 to 16%. By then, the population's senior population will outnumber its young population (aged 0–14 years). In the next 25 years, according to the UK's Office of National Statistics, the proportion of adults 85 and older is expected to double.

Rising Numbers of Accidents Driving Market Growth

The market for electric wheelchairs is primarily driven by an increase in accident rates. This is explained by the fact that accidents can result in either short-term or long-term disability. Carrying patients to the bathroom requires a lot of effort from the caregiver. WHO estimates that 50 million people worldwide sustain injuries as a result of traffic accidents. Patients can be moved from one location to another safely and comfortably with the use of electrical wheelchairs. Therefore, a rise in accidents is anticipated to push the market for electrical wheelchairs in the near future. The expansion of the electric wheelchair market is being restricted by the lack of infrastructure and access to high-quality healthcare in emerging nations.

Electric Wheelchair Market: Restraints

Technical Issues and High Cost of Maintenance to Hamper Market Growth

Although electric wheelchairs are extremely sophisticated medical gadgets that assist elderly or disabled patients with mobility, the user frequently encounters a variety of inconsistent technological errors, flaws, and other issues. Due to these technological problems, product recalls for these wheelchairs are frequently launched by regulatory agencies like the Food and Drug Administration (FDA). For instance, the FDA issued a product recall for Permobil powered wheelchairs in 2018 owing to the failure of one or more backrest bars that provided back support. Permobil AB is a provider of rehabilitation mobility solutions. The market for electric wheelchairs is predicted to have slow growth as a result of such product recalls. Additionally, expensive initial costs, high maintenance costs, and the weight of electric wheelchairs are deterrents to sales.

Electric Wheelchair Market: Segment Overview

Rear Wheel Drive to Dominate Market due to its Power and Control

The front wheel, center wheel, and rear wheel segments of the worldwide powered wheelchair market are determined by the product. In 2021, the rear wheel category held a market share of more than 36% and is anticipated to grow at the highest CAGR during the forecast period. Wheelchairs with rear-wheel drives (RWDs) are propelled by an engine that drives the back wheels. In sharp turns, these wheelchairs offer superior power and control and don't lose traction as much. In comparison to its competitors, the wheelchair with rear wheels-drive distributed the weight evenly. The RWD is dependable and resistant to damage. For instance, the RWD coupled with the electronic control system Invacare Aviva Storm Rx power wheelchair can be used for both indoor and outdoor travel. More than 1 billion people worldwide live with a handicap, according to WHO statistics from 2021.

With Increased Benefits, Home Care Category Dominated Market

Hospitals & clinics, Home Care, and Sports Conditioning are the three categories under which electric wheelchair end-users are divided. The majority of individuals with chronic diseases limit their movement and remain at home. The benefits of choosing homecare include enhanced comfort, individualized attention, family engagement, and companionship, among others. As opposed to adhering to the schedules and routines of a care facility, a home care plan is customized to the needs of your family. According to the patient's need for assistance, a homecare facility can be tailored to provide partial or full-time care. As a result of its many benefits, the homecare sector will, according to the report, drive industry growth.

Electric Wheelchair Market: Regional Landscape

North America to Dominate Market due to Growing Preference for Online Grocery Shopping

Between 2022 and 2027, North America is anticipated to become a highly lucrative market for electric wheelchairs. With the prevalence of various physical immobility problems rising and the ageing populations in North American nations like the U.S. and Canada on the increase, the market for electric wheelchairs is expanding quickly. Therefore, to take advantage of current prospects, a number of market companies are investing more in research and development (R&D) projects. For instance, Invacare, a top American producer of non-acute medical equipment that includes wheelchairs and mobility scooters, announced the introduction of the AVIVA Storm RX, a new generation of rear-wheel drive electric wheelchair, in 2021. The wheelchair includes a unique open stack design that allows the legs to tuck under the chair by up to 7 degrees, as well as an LED lighting system, adjustable loan compensation interpreters, and other features. The demand in the North American market is anticipated to increase as a result of numerous such product releases.

In the coming years, Asia Pacific will develop at the fastest rate, with China capturing the largest share of the market. Significant market expansion is also induced by the region's large patient population and the rising number of modern hospitals and healthcare facilities. The APAC market will benefit from the expanding healthcare infrastructure, rise in government programmes encouraging the adoption of cutting-edge mobile devices, and growing awareness of the newest wheelchair varieties.

Global Electric Wheelchair Market: Competitive Landscape

Invacare Corp. announced the release of the AVIVA STORM RX Narrow Base Power Wheelchair in January 2022. This wheelchair has been improved to offer its standard equivalent more flexibility and navigation. The company was able to expand its product line and increase product penetration across a variety of end consumers thanks to the addition of this product to their lineup of electric wheelchairs. Moreover, the release of the intelligent power wheelchair iChair Meylife was announced by Meyra Gmbh in December 2021. Patients with tetraplegia, traumatic brain injury, paraplegia, Parkinson's disease, limb amputations, and many other disorders were the target market for this product. With its cutting-edge capabilities, this device will help the business create new revenue streams in the market. Additionally, in June 2020, the company LUCI, which is reimagining modern mobility, released its flagship product, called "LUCI." The LUCI platform is a sophisticated piece of hardware and software that connects to a power wheelchair and offers communication, stability, and security.

Few of the players in the Electric Wheelchair Market include OttoBock Healthcare GmbH, GF Health Products, Inc, Invacare Corp., Permobil AB, Pride Mobility Products Corp., Hoveround Corporation, Sunrise Medical Limited, LEVO AG, Invacare Corp., MEYRA GmbH, and Medical Depot, Inc.

Global Electric Wheelchair Market is Segmented as Below:

By Product Type

• Center Wheel Drive
• Front Wheel Drive
• Rear Wheel Drive
• Standing Electric Wheelchairs

By End Users

• Hospitals & Clinic
• Home Care
• Sports Conditioning

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Rest of Europe
• Asia Pacific
  • Japan
  • South Korea
  • India
  • China
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

Key Elements Included In The Study: Global Electric Wheelchair Market

• Electric Wheelchair Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value and Volume, 2018 - 2021
• Volume Consumption at Regional and Country Level, 2022 - 2029
• Market Dynamics and Economic Overview
• Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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