Electric Wheelchair Market Booming Segments; Investors Seeking Growth 2022 -2028
Electric Wheelchair Market
Market Highlights
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.
Segment Analysis
Global Electric
Wheelchair Market 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
Key Players
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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Regional Analysis
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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