Market Overview
The global electric wheelchair market is expected to witness substantial growth over the review period. The development of the worldwide demand for electric wheelchairs is supported by an increase in the geriatric population. Electric wheelchairs, complete with cameras and other assistive devices, help relieve the aging population's mobility issues. Furthermore, for those who do not use electric wheelchairs, they are also useful. A major factor driving the growth of the industry is the need for smart wheelchairs for disabled people. People with motor, sensory or cognitive disability are unable to use manual wheelchairs or joysticks and find the use of smart electric wheelchairs to be particularly beneficial.
Electric wheelchairs have been widely embraced because of the superior benefits over manual wheelchairs. The growth in the geriatric community encourages the expansion of the worldwide market for electric wheelchairs. In addition, they are also suitable for people who do not use electric wheelchairs. The need for smart wheelchairs for disabled people is a big factor in boosting the industry's progress. Comfort's superior importance acts as a driving force for the growth of the market.
Complexity of technology and ready development and development of prototypes have significantly affected the growth of the industry. In order to reach the population of people who are unable to use wheelchairs, experts have made massive advances in developing assistive technologies to build improved electric wheelchairs and have further helped advance the global electric wheelchair industry. Other motivating forces are the increase in the incidence of road accidents, the rising number of patients with spinal deformities, and the purchasing power of consumers. The high cost of electric wheelchairs, however, and the lack of awareness in developing regions could hinder market development.
To provide the customer with more comfort, the designers focus on the structure and ergonomics of the wheelchair. During the forecast age, the industry is expected to be powered by concepts such as standing wheelchairs, self-driving wheelchairs fitted with vision sensors to identify barriers, ultralight electric wheelchairs made of carbon fibre.
The world demand for medical assistance supplies is profoundly weakened as a result of the coronavirus outbreak. In China, the outbreak was first seen, leading to the lockdown and suspension of industrial activities throughout the country. Demand for electric wheelchairs is expected to drop slightly around the globe, leading to supply chain volatility and the implementation of rigid laws to meet social distancing and clear lockout around the world.
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Segmental Analysis
Based on product and end use, the global electric wheelchair market has been segmented. The electric indoor chair, electric outdoor chair, dual-purpose chair, rear wheel drive chair, front wheel drive chair, centre wheel drive chair, standing electric wheelchair, and others have been segmented by product.
The industry has been divides into home care conditions, hospitals / clinics, and others by end use.
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Regional Overview
The Americas, Europe, Asia Pacific, and the Middle East & Africa are the key markets for an electric wheelchair.
The Americas is a developed industry and has been showing continuous advancement due to the inflated demand for electric wheelchairs due to higher affordability, high commodity knowledge and greater propensity for technologically advanced equipment. A favorable reimbursement scenario and government funding for the ageing population in the form of incentives for medical instruments and medical services are also driving the expansion of the industry.
Europe, too, is a strong market and, as a result of high spending on R&D activities, has seen steady growth.
Asia Pacific is projected to expand at a rapid rate due to growing buying power and recognition in the region. In addition, the growth of the geriatric population, the increasing penetration of electric wheelchairs and the increasing involvement of manufacturers in investing in China and the emerging economies of India are also creating a favorable climate for the growth of the Asia-Pacific sector.
Due to the development of medical facilities in the region, the Middle East & Africa market is expected to show rapid growth.
Competitive Landscape
GF Health Products Inc., Drive Medical Ltd., MEYRA GmbH, Karman Healthcare, OttoBock Healthcare GmbH, Medical Depot, Inc., Sunrise Medical Limited, Pride Mobility Products Corp, Quantum Rehab, Invacare Corporation, Permobil AB, Hoveround Corporation, LEVO Ag, Whill Inc., and Permobil AB are the eminent players operating in the global electric wheelchair market. There is immense competition between new players and established players in the electric wheelchair market. In turn, this has paved the way for mergers and acquisitions, joint ventures, and product development to maintain dominance in the market for electric wheelchairs.