Electric Wheelchair Market to Generate a Revenue of US$ 16,411.28 Million by 2031
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Due to the rising need for accessibility and mobility solutions for persons with disabilities and mobility impairments, the global electric wheelchairs market is likely to expand significantly over the next several years. The improvements in battery technology, customization possibilities, and healthcare regulations are also driving global market growth.
According to the Astute Analytica analysis, the global electric wheelchair market has promising growth opportunities due to the presence of a prominent consumer base. For instance, WHO estimates, over one billion people worldwide have some sort of impairment, including over 100 million people who need wheelchairs for movement. The demand for electric wheelchairs is likely to rise in the upcoming years due to an aging population and an increase in the prevalence of chronic diseases like diabetes.
A report from the US Census Bureau estimates that 40 million Americans, or 12.6% of the population, are disabled. 13.7 million of them, or people, have trouble walking or ascending stairs and could use aids like electric wheelchairs. According to the European Union Agency for Fundamental Rights, 15% of the population in Europe, or about 80 million people, have a disability. Seven million or more of them use wheelchairs to move around.
Additionally, an increase in accident rates fuels the global electric wheelchair market growth. This is due to the fact that accidents can result in either short-term or long-term disability. WHO estimates that 50 million people worldwide sustain injuries owing to traffic accidents. Patients can be moved from one location to another safely and comfortably with the use of electrical wheelchairs. Therefore, a rise in accidents is likely to push the electric wheelchairs market in the near future.
Center Wheel Drive Wheelchairs are Gaining Popularity
In 2022, the global center wheel drive segment revenue was US$ 3,320 million and is anticipated to reach US$ 8,300.7 million by 2031. Individuals with mobility disabilities, such as spinal cord injuries, multiple sclerosis, or cerebral palsy, and the elderly population are major end users of these wheelchairs.
Center wheel drive electric wheelchairs are gaining popularity and are likely to produce 50% of global market revenue. Their mobility, versatility, and advanced features are significant factors in their popularity. Center wheel drive electric wheelchairs are widely used in nations with significant populations of aging and persons with disabilities, such as the United States, Japan, China, and Germany.
Battery Component-Based Electric Wheelchair to Generate 32% of the Revenue
The battery pack component has a sizable market share, accounting for more than 32% of the total. This is primarily due to the critical role batteries play in electric wheelchair performance, range, and overall user experience. The battery pack not only provides the electricity required for the wheelchair to work, but it also has a direct impact on the wheelchair's speed, runtime, and charging time. As a result, developments in battery technology and the growing need for more efficient and long-lasting batteries contribute to the electric wheelchair market's significant proportion of battery packs.
Electric Wheelchairs are Commonly Used for Senior Care
With a market share of 36.9% in the base year 2022, the senior-care segment leads the electric wheelchair market. Furthermore, it will grow at the highest CAGR of 11.4% during the projection period of 2023-2031. The elderly population is the largest age group with a disability. Thus, the most significant users of the electric wheelchair market. Countries with the highest mobility-related disability among the elderly include the United States and the United Kingdom. Frailty affects 20-30% of the senior population over the age of 75 in the United Kingdom, and it worsens with age.
Major Sales of Electric Wheelchairs Come from Home Care Setting
The home care setting segment will record the highest CAGR of 11.4% over the forecast period. Caregivers frequently care for disabled persons at home rather than in hospitals to make them feel more comfortable and at ease. Homecare settings are the greatest and safest places for disabled persons as there is a high prevalence of environmental barriers, such as stairs and small lanes that can lead to high incidences of accidents among wheelchair users. Furthermore, the aging population and rising disability rates are likely to fuel demand for electric wheelchairs in the home care setting segment in the future years.
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North America and Europe Hold Major Growth Opportunities in the Global Electric Wheelchair Market
According to a recent analysis by Astute Analytica, the economies of North America and Europe account for more than 70% of the market's income. Clearly, both of these markets are crucial to wheelchair manufacturers. The report also discovered that during the forecast period, the demand for electric wheelchairs is likely to expand most rapidly in the Asia-Pacific region.
According to the report, the significant concentration of electric wheelchair producers in these places is to blame for the high revenue these regions produce. Companies like Quantum Rehab and Invacare are based in North America, whereas Ottobock and Sunrise Medical are based in Europe. These producers have a wealth of knowledge and experience in creating high-quality electric wheelchairs that satisfy client demands.
Top 5 Companies Hold a Share of 60% in the Global Electric Wheelchair Market
According to Astute Analytica's report, Drive Medical Design & Manufacturing, Numotion, Invacare, and Sunrise Medical LLC are the major participants in the electric wheelchair market. Together, these businesses account for more than 60% of the market. According to the analysis, Sunrise Medical is the dominant company in its sector. The company has a robust global distribution network, and its products are sold in over 35 countries. Invacare is the second-largest participant. The business provides a variety of goods and services for those with impairments.
Key Companies
Carex Health Brands, Inc.
Drive Medical Ltd.
GF Health Products, Inc.
Invacare Corporation
Karma Medical Products Co., Ltd
Karman Healthcare
LEVO AG
Matsunaga Manufactory Co., Ltd.
Medline
MEYRA GmbH
Miki Kogyosho Co. Ltd.
Nissin Medical Industries Co., Ltd.
OttoBock Healthcare GmbH
Permobil AB
Pride Mobility Products Corp.
Quantum Rehab
Seating Matters
Sunrise Medical Limited
Other Prominent Players
Segmentation Outline
The global electric wheelchair market segmentation focuses on Product, Component, Charging Type, Application, Distribution Channel, End-User, and Region.
By Product
Center Wheel Drive
Front Wheel Drive
Rear Wheel Drive
Standing Electric Wheelchair
Push-Rim-Activated Power-Assisted Wheelchairs (PAPAWs)
Others
By Component
Joystick
Battery
Transmission Belt
Motors
Others
By Charging Type
Wired
Wireless
By Application
Post-Acute Care
Pediatric care
Maternity Care
Senior Care
Home Care
Sport Injury
Others
By Distribution Channel
Online
E-Commerce Websites
Company Websites
Offline
OEMs
Distributors
Others
By End-user
Homecare settings
Hospitals/Clinics
Others (Travel & Transport, Hospitality, Education)
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
Saudi Arabia
South Africa
UAE
Rest of MEA
South America
Argentina
Brazil
Rest of South America
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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
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