Electric wheelchairs are powered with a set of batteries that provides the required power for the movement of wheelchair in the desired direction causing less physical exertion. These chairs do not require any human assistance for mobility as these are automated. The global electric wheelchairs market is expected to reach $4,846 million by 2022, registering a CAGR of 17.1% from 2016 to 2022.
Factors that strengthen the growth of this market include growth in elderly population globally, necessity for automated independent wheelchairs, increase in government expenditure on healthcare, and high disposable income from developed countries, such as U.S., UK, Germany, and others. However, factors that hinders the market growth are high cost of power wheelchairs, lack of awareness about benefits of power wheelchairs, and infrastructure. Moreover, launch of smart wheelchairs equipped with artificial intelligence control systems and increase in active and independent lifestyles offer potential opportunities for manufacturers to innovate and develop new products according to consumer preferences.
Currently, the global electric wheelchairs market has witnessed a balanced growth and is anticipated to grow with a steady CAGR during the forecast period. There has been a considerable rise in disposable incomes over the past decade, which has resulted in improved spending capacity of the consumers on health & medical facilities. Moreover, improvement in standard of living, change in lifestyles, and varied cultures, encourages the growth of the electrical wheelchairs market. North America and Asia-Pacific are the significant markets for electric wheelchairs. The North American electric wheelchairs market is expected to grow at a CAGR of 16.4% to reach $2,192 million by 2022.
The global electric wheelchairs market is segmented on the basis of product type and geography. Based on type, it is classified into center wheel drive, front-wheel drive, rear-wheel drive, standing electric wheelchair, and others. The others segment includes sports-wheelchairs, pediatric-wheelchairs, and high-power electric wheelchairs. Among these products, the center-wheel drive segment is in demand and holds a significant share of around 47% 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.
Geographically, the 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 a large number of established manufacturers of electric wheelchairs in the U.S. and Canada. The market in the Asia-Pacific is expected to grow at a significant rate, owing to the rise in geriatric population and rise in expenditures in emerging markets (India and China) to overcome the unmet medical needs. Technological advancements to develop cost-effective power wheelchairs in these nations offer lucrative opportunities for global electric wheelchairs industry growth.
Key Benefits
This report provides quantitative and qualitative analyses of the current market trends and estimations from 2014 to 2022, which assist to identify the prevailing market opportunities in different product segments.
It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
Key drivers, restraints, and opportunities, and their detailed impact analysis are elucidated.
Electric wheelchairs market trends of major countries in each region are mapped according to the estimated revenue.
Porter's Five Forces model illustrates the threat of new entrants, threat of substitutes, strength of the buyers, and strength of suppliers.
Key manufactures of global electric wheelchairs industry products are profiled and their recent developments are listed.
Electric Wheelchair Market Key Segments:
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.
