Research Nester released a report titled “Electric Wheelchair Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global electric wheelchair market in terms of market segmentation by type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global electric wheelchair market is projected to grow with a moderate CAGR during the forecast period, i.e., 2022-2030 on account of the increasing geriatric and differently-abled population globally. As per the data provided by the United Nations, the population of people aged above 60 years was 703 million globally in 2019 and is expected to reach over 1.5 billion people in 2050. Moreover, the increasing advancement in mobility technology is also increasing the market growth. According to the data provided by the World Bank, one billion people, or 15% of the world’s population, experience some form of disability. This is another major factor estimated to boost the market growth.
The market is segmented based on type into center wheel drive chair, front-wheel drive chair, rear-wheel drive chair, and others. The center wheel drive chair segment is anticipated to grab the most significant share by the end of 2021 on account of various advantages of the center wheelchair in improving postural positioning, minimalized effort for mobilization, and making users independent to carry out daily activities.
Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The electric wheelchair market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period on the back of high geriatric population in countries, such as, China, Japan, and India. Currently, the electric wheelchair market in North America holds the largest share. This can be attributed to the better availability of technological support, presence of variety in the product, and high disposable income of the people in the region.
Increasing Differently-Abled and Geriatric Population to Drive the Market Growth
According to the data by the CDC, 1 in every 4 adults in the U.S, that is, around 61 million Americans suffered from mobility disability in 2018.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Electric wheelchairs provide independence for mobility and movement for differently-abled people. The increasing necessity of electric wheelchairs for disabled people and the high disposable income of people are estimated to boost the growth of the electric wheelchair market.
However, the high cost of electric wheelchairs and lack of awareness and infrastructure restrict the adoption of electric wheelchairs.
This report also provides the existing competitive scenario of some of the key players of the global electric wheelchair market which includes company profiling of Invacare Corporation, GF Health Products, Inc., Sunrise Medical, Inc., Quantum Rehab, Permobil AB, Pride Mobility Products Corp, Medical Depot, Inc., Ottobock, Levo AG, and Karman Healthcare, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global electric wheelchair market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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