The global electric wheelchair market is anticipated to grow at a registered compound annual growth rate (CAGR) of 8.4% during the forecast period from 2021-2027.
The electric wheelchair or a motorized wheelchair is driven by power batteries and wheels that enhance the efficiency of work. The battery provides the required amount of power to the wheelchair to move without much physical exertion.
An increase in demand for electrical wheelchairs is directly attributed to the demand for technological advancements. The need for durable, sturdier, and weight bearable wheelchairs enhances the necessity for further advancement in the market. Hence, it also propels the overall growth of the global electric wheelchair market.
Technological advancements in the global electric wheelchair market have reduced the usage of traditional wheelchairs. With the development of automated movement systems, patients can remotely control the equipment. Moreover, the integration of artificial intelligence in the electric wheelchair industry has helped disabled people to adopt convenient features of electronic wheelchairs. These features include managing wheelchairs through facial expressions like raising eyebrows and holding out tongues etc. Therefore, demand for the development and innovative development in the field would drive the expansion of the electric wheelchair market size.
The geriatric population is more prone to physical disabilities, which increases the use of electric wheelchairs in hospitals and healthcare departments. Moreover, electrical wheelchairs have also applied in-home care to carry patients and shift them safely from one place to another. Thus, these safety benefits increase the demand for electrical wheelchairs and are anticipated to extend more in hospitals and homes. According to World Health Organization, the percentage of the geriatric population will grow to 16% by 2050. Thus, the growth of the population would fuel the demand for electric wheelchairs.
Furthermore, an increment in the accident cases will prompt the growth of the global electric wheelchair market. Accidents can cause temporary or permanent disabilities in a person, and caretakers have to take care of them. As per the information published by WHO, around 50 million people worldwide are affected due to road accidents.
However, the unavailability of a quality healthcare system in developing and underdeveloped regions is obstructing the growth of the global electric wheelchair market. Most of the geriatric population lives in these regions. Hence, there is significant growth expected from these regions.
The absence of supporting infrastructure, high expenses, and low consumer awareness is expected to decelerate the industry expansion.
Regional Analysis
Asia-pacific is anticipated to grow at the highest CAGR during the forecast time frame. The growth is projected due to the expanding medical tourism industry, rising elderly population, and surge in chronic diseases.
Impact Analysis of COVID-19
Industries experienced significant challenges due to the effects of the COVID-19 pandemic. The growth of developing countries mostly halted and drove the reduction in global trade.
Wheelchair devices are essentially required for several mobility situations. Due to the pandemic, there was a shortage in the distribution of wheelchairs and consumables.
Key Market Segments
By Product Type
By Region
Key market players
