Outlook on the Electric Wheelchair Global Market to 2027 – Opportunity Analysis and Industry Forecasts – ResearchAndMarkets.com | Financial Buzz

Outlook on the Electric Wheelchair Global Market to 2027 – Opportunity Analysis and Industry Forecasts – ResearchAndMarkets.com

The “Electric Wheelchair Market by Product Type: Global Opportunity Analysis and Industry Forecast, 2021-2027” report has been added to ResearchAndMarkets.com’s offering.

The electric wheelchair is a motorized wheelchair equipped with wheels and a set of batteries to provide the required power to move the wheelchair in the desired direction, causing less physical exertion. These chairs do not require any human assistance for mobility.

The factors that drive the growth of the global electric wheelchair market include upsurge in elderly population globally; necessity for automated, independent wheelchair; increase in government expenditure on healthcare, and high disposable income in developed countries such as the US, the UK, and Germany.

However, high cost of power wheelchair and lack of awareness & infrastructure supporting easy access of wheelchair restrain the growth of the market. On the contrary, launch of smart wheelchair integrated with artificial intelligence control systems and The rise in willingness among individuals toward active & independent lifestyle are expected to offer potential opportunities for manufacturers to innovate and develop new products according to consumer preferences.

The global electric wheelchair market presently has witnessed a balanced growth, and is anticipated to grow with a steady CAGR during the forecast period. A considerable increase in disposable income was observed over the past decade. North America and Asia-Pacific are the prominent markets for electric wheelchair, owing to widespread adoption of electric wheelchair in the region.

The global electric wheelchair market is segmented into product type and region. Depending on product type, the market is fragmented into center wheel drive, front wheel drive, rear wheel drive, standing electric wheelchair, and others. The others segment includes sports wheelchair, pediatric wheelchair, and high power electric wheelchair. Among these products, center wheel drive witnessed maximum demand; thus, the segment garnered the largest share in the global electric wheelchair market.

Market Dynamics

Drivers
  • Upsurge in Geriatric Population
  • Increase in Incidence of Spinal Deformities
  • Increase in Incidence of Disabilities and Accidents
Restraints
  • Inaccessibility to Quality Healthcare and Infrastructure in Developing Regions
  • High Cost Compared to Manual Wheelchair to Impede Market Proliferation
Opportunities
  • Emergence of Technologically Advanced Products
  • Untapped Opportunities in Developing and Underdeveloped Economies

Key Market Players

  • OttoBock Healthcare GmbH
  • Invacare Corporation
  • Pride Mobility Products Corp
  • Permobil AB
  • Sunrise Medical Limited
  • MEYRA GmbH
  • Matsunaga Manufactory Co., Ltd.
  • Karma Medical Products Co., Ltd.
  • Miki Kogyosho Co. Ltd.
  • Nissin Medical Industries Co., Ltd.

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