Wheelchair Market Analysis, Growth, and COVID-19 Impact Till 2030
Market Overview
The global electric Wheelchair Market 2022 is expected to witness substantial growth voer the review period.
Market Highlights
Owing to the superior advantages it presents over manual wheelchairs, electric wheelchairs have been commonly accepted. The expansion of the global demand for electric wheelchairs is supported by the increase of the geriatric population. Furthermore, for those who do not use electric wheelchairs, they are also useful. A major factor in improving the growth of the industry is the need for smart wheelchairs for disabled people. The superior value of comfort serves as a driving agent for the growth of the market.
Technology complexity and ready availability and prototype production have influenced the growth of the industry to a large degree. Researchers have made massive strides to improve assistive devices to develop upgraded electric wheelchairs to meet the population of people who are unable to use wheelchairs, and have further helped advance the worldwide electric wheelchair industry. The spike in the occurrence of traffic injuries, the increasing number of patients with spinal deformities and the the buying power of customers are other driving forces. However, the high cost of electric wheelchairs and the lack of knowledge in the developing regions could impede the growth of the market.
The designers work on the wheelchair ‘s construction and ergonomics to provide the user with more ease. During the forecast era, concepts such as standing wheelchairs, self-driving wheelchairs equipped with vision sensors to locate barriers, ultralight electric wheelchairs made of carbon fibre are expected to propel the market.
In the aftermath of the coronavirus epidemic, the global medical aid equipment market is deeply affected. The epidemic was first seen in China, leading to the lockdown and cessation of manufacturing operations throughout the region. Leading to supply chain instability and the introduction of stringent regulations to follow social distancing and clear lockout around the world, demand for electric wheelchairs is projected to decline marginally around the globe.
Segmental Analysis
Based on product and end use, the global electric Wheelchair power assist 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 split into home care conditions, hospitals / clinics, and others by end use.
Regional Overview
The Americas, Europe, Asia Pacific, and the Middle East & Africa are the key markets for an electric wheelchair.
Due to the inflated demand for electric wheelchairs due to higher affordability, high knowledge of the commodity and greater propensity for technologically advanced equipment, the Americas is a developed industry and has been showing continuous progress. The expansion of the industry is also driven by a favourable reimbursement scenario and government funding for the ageing population in the form of incentives for medical instruments and medical services.
Europe, too, is a strong market and has seen steady growth as a result of high spending in R&D activities.
Due to increasing buying power and recognition in the region, Asia Pacific is projected to expand at a rapid rate. Moreover, the increase in the geriatric population, the rising penetration of electric wheelchairs and the growing involvement of manufacturers in investing in China and India’s emerging economies are also creating a favourable climate for the growth of the Asia Pacific industry.
The Middle East & Africa market is expected to show rapid growth due to the development of medical facilities in the region.
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.
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