Electric Wheelchair Market
Global Electric Wheelchair Market is expected to have a market value of USD 3061.64 Million by 2027.
Electric wheelchair, also known as the power wheelchair, motorized wheelchair, or electric-powered wheelchair, is propelled by an electrically based power source, majorly motors and batteries. Electric wheelchair consists of one or more rechargeable batteries. These batteries power motor, which facilitates the movement of wheels, joystick, or ball used to operate the wheelchair.
Global Electric Wheelchair Market Share has been segmented on the basis of Type, into center wheel drive chair, front-wheel drive chair, and rear-wheel drive chair. Based on end-user the market is categorized into home care settings, hospitals and clinics, and others
MRFR recognizes the following companies as the Key Players in the Global Electric Wheelchair Market— GF Health Products, Inc. (US), Sunrise Medical (Germany), Quantum Rehab (US), Permobil AB (Sweden), Pride Mobility Products Corp (US), Invacare Corporation, Drive Medical (US), Ottobock (Germany), Levo AG (Switzerland), and Karman Healthcare, Inc. (US).
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Global Electric Wheelchair Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The Americas led the market and accounted for the largest share in 2019. The technological advancement in the electric wheelchair with attachment of gadgets for control and accessibility majorly drive the market growth. Also, the rise in purchasing power, increasing geriatric population, and inclination towards more refined technology have been driving the progress of the electric wheelchair market in the region.
The European electric wheelchair market has been further segmented into Western Europe and Eastern Europe. The Western Europe electric wheelchair market has further been classified into Germany, France, the UK, Italy, Spain, and the Rest of Western Europe. Europe held the second-largest position in the electric wheelchair market with a market share of 29.3% in 2019 and anticipated to witness significant growth over the forecast period due to a higher number of patients and the availability of products in the region. Europe is also expected to have high growth in the electric wheelchair market, owing to the rising number of physically challenged people in the region.
Asia Pacific is anticipated to register the highest growth rate with a CAGR value of 8.5% over the forecast period from 2020 to 2027. According to the United Nations, across Asia, the number of people age 65 and above is expected to grow dramatically over the next 50 years. Moreover, the increasing disposable income of middle-class families, which accounts for a large population in Asia, encouraging them to spend more on health, is driving the growth of the electric wheelchairs market in the region.
The Middle East & Africa electric wheelchair market is segmented into the Middle East and Africa. The growth of the electric wheelchair market in the Middle East and Africa is growing steadily in the past few years. Increasing the prevalence of orthopedics disorders and funding by private players and government bodies is propelling the market growth in this region.
Key Findings of the Study
- Global Electric Wheelchair Market is estimated to reach USD 3061.64 Million by 2027 at a CAGR of 6.7% during the assessment period of 2020 to 2027.
- The Americas accounted for the largest share of the global electric wheelchair market due to the presence of prominent players involved in new product launch & clearance from regulatory authorities along with various acquisitions in the US, high uptake rate, and product clearances from regulatory authorities
- Based on type, the center wheel drive electric wheelchair segment accounted for the largest market share of 6.9% in 2019. However, the front-wheel-drive chair segment accounted for the fastest-growing segment at a CAGR of 8.3%
- On the basis of end-user, the home care settings segment held the largest segment with the CAGR of 8.3% during the assessment period
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