It is anticipated that the electric wheelchairs market will grow at a compound annual growth rate of 6.7% from the years 2020 to 2027, ultimately reaching a value of USD 3,061.64 million by the end of the forecast period. With an electric wheelchair, a person no longer relies on another person for transportation. A person with a disability or a leg issue should not be forced to rely on others to accomplish their job.
Driven is a term used to describe factors contributing to the market’s development. Market growth is driven by product releases and market expansion in developing countries. Product releases and market expansion are expected to drive the development of the electric wheelchair market. Producing more goods and increasing market demand are both positive outcomes. Features with a Wide Range of Uses People are seeking electric wheelchairs and selecting them over regular wheelchairs because electronic wheelchairs come with features that allow them to do several functions, and developers are attempting to make electric wheelchairs simpler to use and traverse.
The epidemic has ravaged the planet and wiped off many new markets and enterprises in their infancy or critical stages of development. A drop in output and a subsequent decline in the market’s growth rate resulted from the worldwide lockdown. Electric Wheelchairs were unaffected or challenged by COVID-19. While such hurdles remain, the industry is nevertheless striving to develop.
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Key Players
GF Health Products, Sunrise Medical (Germany), Quantum Rehab (US), Permobil AB (Sweden), Pride Mobility Products Corp (US), Invacare Corporation, Drive Medical (US), Ottobock (Germany), Levo AG (Switzerland), Karman Healthcare
Segmental Analysis
Product type and geographic location are the two main divisions of the worldwide market for electric wheelchairs. Product type is broken down into center wheel drive, front and rear wheels, and standing electric wheelchairs worldwide. For now, the electric wheelchair market is dominated by wheelchairs with center-wheel drive, thanks to the smaller turning radius, lighter front tires, and ease of moving through tight areas. But then, the front-wheel-drive is projected to acquire significant momentum in the future years.
Home care facilities are projected to dominate the market in the long term due to a growing demand for electric wheelchairs that allow people to work independently and conveniently. With its joystick control and capacity to be used inside and outdoors, the rear-wheel-driven wheelchair is likely to have the largest share of the market.
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Regional Analysis
Throughout the projection, North America is predicted to have the biggest market share and expand the fastest. To keep up with the ever-increasing demands of the market, companies in this area are constantly innovating. According to the CDC, more than 61 million persons in the United States have some impairment, including 3.3 million wheelchair users. Estimates place the annual addition of new wheelchair users at 2 million.
Industry News
Invacare Corporation announced that it would be launching the AVIVA STORM RX Narrow Base Power Wheelchair in January 2022. Compared to the ordinary wheelchair, this one has been designed to be more maneuverable and easier to navigate. Including this device in the company’s line of electric wheelchairs allowed them to broaden their product offerings while increasing their reach among a wider range of end consumers.
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