Electric Wheelchairs Market Overview:
Global Electric Wheelchairs Market size in 2015 was valued at $1,597 million growing at CAGR of 17.1% to reach $4,846 million by 2022. Electric wheelchairs market has witness increased adoption owing to factors such as ease of mobility, convenience, growing worldwide elderly population and growing demand for advanced wheelchairs from the sports industry, as many sports events are organized for disabled persons such as wheelchair basketball, wheelchair rugby, and others.
An electric wheelchair, also known as power wheelchair is a wheelchair that is propelled by means of an electric motor rather than manual efforts. Electric wheelchairs are light in weight, generally less than 100 lbs and offer mobility in a light package. These electric wheelchair offers compact size, ideal for confined spaces or narrow doorways.
The revenue of the global electrical wheelchairs market has increased, owing to rising trend of automation enabling enhanced returns on investments and cost optimization. They are durable, adjustable and feature special seats with soft pads for orthopedic patients. Growing elderly population, necessity of automated wheelchair for disabled people and high disposable income of people are the driving factors for the market growth. However, high cost of electric wheel chair and lack of awareness and infrastructure, such as broken pathways, non-availability of ramps in buses & trains for wheelchair users restrict the adoption of electrical wheelchairs.
The report segments the global electric wheelchairs market on the basis of product type and geography. Based on the type of the product, the market is categorized into front wheel drive, rear wheel drive, centre wheel drive, standing electric wheelchair, and others. Among these products, the centre and front wheel drive segments are majorly in demand and hold a combined share of around 63% in global electric wheelchairs market in the year 2015.
The key players profiled in the report are Drive Medical Ltd., GF Health Products, Inc., Invacare Corporation., Karman Healthcare, LEVO AG, MEYRA GmbH, OttoBock Healthcare GmbH, Pride Mobility Products Corp, Permobil AB, and Sunrise Medical Limited.
The global electric wheelchairs market is segmented based on product type into centre wheel, front wheel, rear wheel, standing wheel drives, and others. Front wheel and rear wheel drives, together accounted for about 26% of the total electric wheelchairs market in 2015, with the former constituting around 10%. Front wheel drive is expected to grow at a lucrative rate of 18.6% during the forecast period.
Top Factors Impacting the Market
The factors affecting the global electric wheelchairs market include increase in spinal cord injuries, ageing population, enhancements in technological advancements, and rise in adoption of artificial intelligence. Such major factors have boosted the adoption of electrical wheelchairs among consumers.
Increase in Spinal Cord Injuries
The number of serious traumatic spinal cord injuries is on the rise in the United States, majorly due to accidents and falls. Senior citizens today are a lot more active than they used to be, pertaining to the fact that balance and cognitive issues may contribute to their increased risk for falls. According to a study conducted by various hospitals in U.S., the number of cases of acute spinal cord injury in the country increased from 2,659 in 1993, to 3,393 in 2012. This factor would contribute to the electric wheelchairs market growth.
Inclination Towards Automation/Technological Advancements
Automation and automatic operation of wheelchairs are in excessive demand among customers in the developing nations. A busy lifestyle and sophistication in daily life activities are the two key factors leading to adoption of automated electric wheelchairs. An increase in the number of working professionals and elderly population has led to time constraints for providing assistance with manual wheelchairs, which has in turn increased the demand for power wheelchairs. In addition, electric wheelchairs offer both, the independence and the convenience of usage. Electric wheelchairs allows ease of control which help in instantaneous turns and path changing options. The impact of this factor is expected to increase during the forecast period.
The electric wheelchairs are an effective way to alleviate the impact of mobility limitations for aged people, permitting more efficient ambulation over long and short distances, increased independence, and the promise of full participation in community life. Increased usage of electric wheelchairs has helped mitigate disability at older ages. According to Journal of Ageing Research, in the US alone, the elderly population was estimated to be 40 million in 2010 and is projected to climb to approximately 87 million by 2050. The increase in the life expectancy has resulted in growing need for electric wheelchairs for performance of daily activities.
The electric wheelchairs market is analyzed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global market during the analysis period due to the presence of multiple established manufacturers of electric wheelchairs in the U.S., and Canada. The market in Asia-Pacific is expected to grow at a significant rate due to the rise in geriatric population and rise in expenditures in emerging markets (India and China) to overcome the unmet medical requirements.
- This report provides an in-depth analysis of the global electric wheelchairs market to elucidate the potential investment pockets.
- The current trends and future scenarios are outlined to determine the overall market potential and single out profitable trends to gain a stronger foothold in the market.
- This report provides information regarding key drivers, restraints, and opportunities along with their detailed impact analysis.
- Quantitative analysis of the current market trends and future estimations for 2014-2022 are provided to indicate the financial competency.
- Porters Five Forces Model of the industry illustrate the potency of the buyers and suppliers.
Electric Wheelchairs Market Key Segments:
The global electric wheelchairs market is segmented on the basis of product type and geography-
By Product Type
- Centre Wheel Drive
- Front Wheel Drive
- Rear Wheel Drive
- Standing Electric Wheelchair
- Others (Sports Wheelchair, Pediatric Wheelchair, and High-Power Wheelchair)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- OttoBock Healthcare GmbH
- Invacare Corporation
- Pride Mobility Products Corp.
- Permobil AB
- Sunrise Medical Limited
- Drive Medical Ltd.
- Karman Healthcare
- GF Health Products, Inc.
- LEVO AG
- MEYRA GmbH
Other Companies Mentioned in the Report
- Antano Group
- 21st Century SCIENTIFIC Inc.
- Hoveround Corporation
- MERITS CO. LTD.
- Ostrich Mobility Instruments.
- KrosMedical Europe
- GUANGZHOU TOPMEDI CO., LTD.