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Electric Wheelchair Market by Product type (Centre Wheel Drive, Front Wheel Drive, Rear Wheel Drive, Standing Electric Wheelchair) - Global Opportunity Analysis and Industry Forecast, 2014 - 2022

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Pages: 120
Apr 2017 | 6419 Views
 
Author's : Preksha Verma
Tables: 45
Charts: 22
 

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.

Electric Wheelchair Market

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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.

Electric Wheelchair Market

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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.

Segment Overview

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.

Ageing Population

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.

Key Benefits

  • 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)

By Geography

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

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.
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top factors impacting the market
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. Moderate bargaining power of suppliers
3.3.2. Moderate bargaining power of buyers
3.3.3. Low threat of substitution
3.3.4. Moderate threat of new entrants
3.3.5. High competitive rivalry

3.4. MARKET SHARE ANALYSIS, 2015
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Ageing population
3.5.1.2. Increase in spinal deformities
3.5.1.3. Increase in obese population
3.5.1.4. Increase in incidence of disabilities and accidents

3.5.2. Restraints

3.5.2.1. Inaccessibility to quality healthcare in developing regions
3.5.2.2. High cost

3.5.3. Opportunities

3.5.3.1. Emergence of technologically advanced products
3.5.3.2. Untapped opportunities in developing and under developed economies

Chapter: 4 GLOBAL ELECTRIC WHEELCHAIRS MARKET, BY PRODUCT TYPE

4.1. OVERVIEW

4.1.1. Market size and forecast

4.2. REAR WHEEL DRIVE

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. FRONT WHEEL DRIVE

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

4.4. CENTER WHEEL DRIVE

4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast

4.5. STANDING ELECTRIC WHEELCHAIR

4.5.1. Key market trends
4.5.2. Key growth factors and opportunities
4.5.3. Market size and forecast

4.6. OTHERS

4.6.1. Key market trends
4.6.2. Key growth factors and opportunities
4.6.3. Market size and forecast

Chapter: 5 GLOBAL ELECTRIC WHEELCHAIRS MARKET, BY GEOGRAPHY

5.1. OVERVIEW

5.1.1. Market size and forecast

5.2. NORTH AMERICA

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.2.3.1. U.S.
5.2.3.2. Canada
5.2.3.3. Mexico

5.3. EUROPE

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

5.3.3.1. UK
5.3.3.2. Germany
5.3.3.3. France
5.3.3.4. Italy
5.3.3.5. Rest of Europe

5.4. ASIA-PACIFIC

5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast

5.4.3.1. China
5.4.3.2. India
5.4.3.3. Japan
5.4.3.4. South Korea
5.4.3.5. Rest of Asia-Pacific

5.5. LAMEA

5.5.1. Key market trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast

5.5.3.1. Latin America
5.5.3.2. Middle East
5.5.3.3. Africa

Chapter: 6 COMPANY PROFILES

6.1. DRIVE MEDICAL LTD.

6.1.1. Company overview
6.1.2. Business performance
6.1.3. Operating business segments
6.1.4. Key strategic moves and developments

6.2. INVACARE CORPORATION

6.2.1. Company overview
6.2.2. Business Performance
6.2.3. Operating business segments
6.2.4. Key strategic moves and developments

6.3. GF HEALTH PRODUCTS, INC.

6.3.1. Company overview
6.3.2. Business performance
6.3.3. Operating business segments
6.3.4. Key strategic moves and developments

6.4. KARMAN HEALTHCARE

6.4.1. Company overview
6.4.2. Business performance
6.4.3. Operating business segments
6.4.4. Key strategic moves and developments

6.5. LEVO AG

6.5.1. Company overview
6.5.2. Business performance
6.5.3. Operating business segments
6.5.4. Key strategic moves and developments

6.6. MEYRA GMBH

6.6.1. Company overview
6.6.2. Business performance
6.6.3. Operating business segments
6.6.4. Key strategic moves and developments

6.7. OTTOBOCK HEALTHCARE GMBH

6.7.1. Company overview
6.7.2. Business performance
6.7.3. Operating business segments
6.7.4. Key strategic moves and developments

6.8. PERMOBIL AB

6.8.1. Company overview
6.8.2. Business performance
6.8.3. Operating business segments
6.8.4. Key strategic moves and developments

6.9. PRIDE MOBILITY PRODUCTS CORP.

6.9.1. Company overview
6.9.2. Business performance
6.9.3. Operating business segments
6.9.4. Key strategic moves and developments

6.10. SUNRISE MEDICAL LIMITED

6.10.1. Company overview
6.10.2. Business performance
6.10.3. Operating business segments
6.10.4. Key strategic moves and developments

LIST OF TABLES

TABLE 1. GLOBAL ELECTRIC WHEELCHAIRS MARKET REVENUE, BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 2. ELECTRIC WHEELCHAIRS MARKET REVENUE FROM REAR WHEEL DRIVE, BY REGION, 2014-2022 ($MILLION)
TABLE 3. ELECTRIC WHEELCHAIRS MARKET REVENUE FROM FRONT WHEEL DRIVE, BY REGION, 2014-2022 ($MILLION)
TABLE 4. ELECTRIC WHEELCHAIRS MARKET REVENUE FROM CENTER WHEEL DRIVE, BY REGION, 2014-2022 ($MILLION)
TABLE 5. ELECTRIC WHEELCHAIRS MARKET REVENUE FROM STANDING ELECTRIC WHEELCHAIR, BY REGION, 2014-2022 ($MILLION)
TABLE 6. ELECTRIC WHEELCHAIRS MARKET REVENUE FROM OTHERS, BY REGION, 2014-2022 ($MILLION)
TABLE 7. GLOBAL ELECTRIC WHEELCHAIRS MARKET, BY REGION, 2014-2022 ($MILLION)
TABLE 8. NORTH AMERICA ELECTRIC WHEELCHAIRS MARKET, BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 9. NORTH AMERICA ELECTRIC WHEELCHAIRS MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 10. EUROPE ELECTRIC WHEELCHAIRS MARKET, BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 11. EUROPE ELECTRIC WHEELCHAIRS MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 12. ASIA-PACIFIC ELECTRIC WHEELCHAIRS MARKET, BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 13. ASIA-PACIFIC ELECTRIC WHEELCHAIRS MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 14. LAMEA ELECTRIC WHEELCHAIRS MARKET, BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 15. LAMEA ELECTRIC WHEELCHAIRS MARKET, BY REGION, 2014-2022 ($MILLION)
TABLE 16. DRIVE MEDICAL LTD.: COMPANY SNAPSHOT
TABLE 17. DRIVE MEDICAL LTD.: OPERATING SEGMENT
TABLE 18. DRIVE MEDICAL LTD.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 19. INVACARE CORPORATION.: COMPANY SNAPSHOT
TABLE 20. INVACARE CORPORATION: OPERATING SEGMENTS
TABLE 21. INVACARE CORPORATION: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 22. GF HEALTH PRODUCTS, INC.: COMPANY SNAPSHOT
TABLE 23. GF HEALTH PRODUCTS, INC.: OPERATING SEGMENTS
TABLE 24. GF HEALTH PRODUCTS, INC.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 25. KARMAN HEALTHCARE.: COMPANY SNAPSHOT
TABLE 26. KARMAN HEALTHCARE: OPERATING SEGMENTS
TABLE 27. KARMAN HEALTHCARE: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 28. LEVO AG.: COMPANY SNAPSHOT
TABLE 29. LEVO AG: OPERATING SEGMENTS
TABLE 30. LEVO AG: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 31. MEYRA GMBH.: COMPANY SNAPSHOT
TABLE 32. MEYRA GMBH: OPERATING SEGMENTS
TABLE 33. MEYRA GMBH: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 34. OTTOBOCK HEALTHCARE GMBH.: COMPANY SNAPSHOT
TABLE 35. OTTOBOCK HEALTHCARE GMBH: OPERATING SEGMENTS
TABLE 36. OTTOBOCK HEALTHCARE GMBH: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 37. PERMOBIL AB.: COMPANY SNAPSHOT
TABLE 38. PERMOBIL AB: OPERATING SEGMENTS
TABLE 39. PERMOBIL AB: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 40. PRIDE MOBILITY PRODUCTS CORP.: COMPANY SNAPSHOT
TABLE 41. PRIDE MOBILITY PRODUCTS CORP.: OPERATING SEGMENTS
TABLE 42. PRIDE MOBILITY PRODUCTS CORP.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 43. SUNRISE MEDICAL LIMITED.: COMPANY SNAPSHOT
TABLE 44. SUNRISE MEDICAL LIMITED: OPERATING SEGMENTS
TABLE 45. SUNRISE MEDICAL LIMITED: STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 1. SEGMENTATION OF GLOBAL ELECTRIC WHEELCHAIRS MARKET
FIGURE 2. EXECUTIVE SUMMARY OF GLOBAL ELECTRIC WHEELCHAIRS MARKET
FIGURE 3. TOP FACTORS IMPACTING THE GLOBAL ELECTRIC WHEELCHAIRS MARKET
FIGURE 4. TOP INVESTMENT POCKETS
FIGURE 5. PORTERS FIVE FORCES MODEL
FIGURE 6. POPULATION BY AGE GROUP (2000 & 2050)
FIGURE 7. GLOBAL OBESITY RATES, 2013
FIGURE 8. GLOBAL ELECTRIC WHEELCHAIRS MARKET SHARE, BY PRODUCT TYPE, 2014-2022 (%)
FIGURE 9. ELECTRIC WHEELCHAIRS MARKET SHARE FROM REAR WHEEL DRIVE, BY REGION, 2014-2022 (%)
FIGURE 10. ELECTRIC WHEELCHAIRS MARKET SHARE FROM FRONT WHEEL DRIVE, BY REGION, 2014-2022 (%)
FIGURE 11. ELECTRIC WHEELCHAIRS MARKET SHARE FROM CENTER WHEEL DRIVE, BY REGION, 2014-2022 (%)
FIGURE 12. ELECTRIC WHEELCHAIRS MARKET SHARE FROM STANDING ELECTRIC WHEELCHAIR, BY REGION, 2014-2022 (%)
FIGURE 13. ELECTRIC WHEELCHAIRS MARKET SHARE FROM OTHERS, BY REGION, 2014-2022 (%)
FIGURE 14. GLOBAL ELECTRIC WHEELCHAIRS MARKET SHARE, BY REGION, 2016 (%)
FIGURE 15. NORTH AMERICA ELECTRIC WHEELCHAIRS MARKET REVENUE, BY COUNTRY & PRODUCT TYPE, 2014-2022 ($MILLION)
FIGURE 16. NORTH AMERICA ELECTRIC WHEELCHAIRS MARKET SHARE, BY COUNTRY, 2014-2022 (%)
FIGURE 17. EUROPE ELECTRIC WHEELCHAIRS MARKET REVENUE, BY COUNTRY & PRODUCT TYPE, 2014-2022 ($MILLION)
FIGURE 18. EUROPE ELECTRIC WHEELCHAIRS MARKET SHARE, BY COUNTRY, 2014-2022 (%)
FIGURE 19. ASIA-PACIFIC ELECTRIC WHEELCHAIRS MARKET REVENUE, BY COUNTRY & PRODUCT TYPE, 2014-2022 ($MILLION)
FIGURE 20. ASIA-PACIFIC ELECTRIC WHEELCHAIRS MARKET SHARE, BY COUNTRY, 2014-2022 (%)
FIGURE 21. LAMEA ELECTRIC WHEELCHAIRS MARKET REVENUE, BY COUNTRY & PRODUCT TYPE, 2014-2022 ($MILLION)
FIGURE 22. LAMEA ELECTRIC WHEELCHAIRS MARKET SHARE, BY REGION, 2014-2022 (%)

 

Spinal disorders, such as spondylolisthesis and spinal stenosis, and obesity problems constitute a major proportion of health issues globally. According to the Institute for Health Metrics and Evaluation, about 30% of the global population were either obese or overweight in 2013. Such people have limited mobility and in severe cases may need to use electric wheelchairs to carry out their day-to-day activities. In addition, the increase in geriatric population and incidence of accidents is expected to fuel the adoption of power wheelchairs.

Electric wheelchairs are used for patient movement from one place to another without causing any muscular strain to the patient and to the supporting healthcare workers. The demand for electric wheelchairs is expected to increase globally during the forecast period, owing to the increased standards, demand for automated wheelchairs, and favorable regulations.

Asia-Pacific possesses high market potential for investments in electric wheelchairs market, owing to the presence of high population base, rise in awareness about the benefits of power wheelchairs, and increase in disposable incomes. This region is the fastest growing market for these equipment, due to growth in bariatric & geriatric patients in China, Japan, India, and others.

Automation of manual wheelchairs, increased comfort levels, and improved multiple functionalities in the equipment are anticipated to offer lucrative growth opportunities for market expansion.

 

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