The Global Electric Wheelchair Market size is expected to reach $6.8 billion by 2030, rising at a market growth of 8.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,682.5 thousand units, experiencing a growth of 8.8% (2019-2022).
Front-wheel-drive electric wheelchairs are known for their enhanced maneuverability. The front-wheel configuration allows easier navigation in tight spaces, making them well-suited for indoor use. Therefore, the front wheel drive segment will capture 22.3% share in the market by 2030. Users can maneuver through doorways, corridors, and other confined spaces more efficiently than drive configurations. Therefore, the segment will expand rapidly in the upcoming years. Some of the factors impacting the market are growth of global aging population, increasing cases of disabilities globally, and high cost of acquisition and maintenance.
As individuals age, there is a natural progression in the prevalence of mobility challenges. Conditions such as arthritis, osteoporosis, and other age-related issues can affect an individual's ability to walk or move freely. These wheelchairs become essential for those experiencing limitations in physical mobility, providing a reliable and convenient means of transportation. These play a crucial role in enabling seniors to maintain independence. Additionally, the global prevalence of disabilities is on the rise, encompassing a wide range of conditions. This includes physical disabilities resulting from injuries, degenerative diseases, and health issues associated with aging. Whether temporary or permanent, injuries often necessitate mobility assistance during rehabilitation. These offer a practical solution for individuals recovering from injuries, enhancing their mobility and independence throughout the recovery period. These aspects will propel their demand in the upcoming years.
However, it often come with a high initial price tag. These devices' advanced technology, features, and engineering contribute to their relatively expensive nature. For individuals with limited financial resources, the upfront cost can be a significant barrier to acquiring these. While these offer enhanced mobility but require regular maintenance to ensure optimal performance. Maintenance expenses, including repairs and replacement of parts, can add to the overall cost of ownership. These aspects will restrain the growth of the market in the coming years.
The market, like many other industries, experienced disruptions in the supply chain. Lockdowns, travel restrictions, and manufacturing shutdowns in different parts of the world affected the production and distribution. Delays in the supply chain had implications for manufacturers, distributors, and end-users. As a result of the pandemic, consumer priorities shifted to place a greater emphasis on health and safety. While individuals with mobility challenges continued to rely on these wheelchairs, there were delays or hesitations in purchasing decisions due to economic uncertainties and concerns about exposure to the virus.
Based on product type, the market is segmented into center wheel drive, front wheel drive, standing, rear wheel drive, and others. The center wheel drive segment held the largest revenue share in the market in 2022. Center wheel drive electric wheelchairs are known for their superior maneuverability. With the drive wheel positioned at the center of the wheelchair, users can easily navigate tight spaces, turn in place, and achieve a smaller turning radius than other drive configurations. This makes them particularly suitable for indoor use in homes, offices, and shopping malls.
On the basis of application, the market is bifurcated into home care settings and hospitals & clinics. In 2022, the hospitals and clinics segment witnessed a substantial revenue share in the market. Government initiatives aimed at improving accessibility and mobility for people with disabilities can impact their adoption in healthcare facilities. Reimbursement policies and insurance coverage for these can influence the decision of hospitals and clinics to provide these devices to patients. These aspects will pose lucrative growth prospects for the segment.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 3.5 Billion |
| Market size forecast in 2030 | USD 6.8 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 8.7% from 2023 to 2030 |
| Number of Pages | 273 |
| Number of Table | 530 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product Type, Application, Region |
| Country scope |
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| Companies Included | Invacare Corporation, Sunrise Medical, Inc., Karman Healthcare, Inc., Dane Technologies, Pride Mobility Products Corporation, Drive DeVilbiss Healthcare (Medical Depot, Inc.), Ottobock SE & Co. KGaA, GF Health Products, Inc., Golden Technologies, and Meyra Group GmbH |
| Growth Drivers |
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| Restraints |
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By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured the highest revenue share in the market in 2022. North America has a rapidly aging population, with many elderly individuals facing mobility challenges. As people age, the prevalence of mobility-related conditions increases, driving the demand for assistive devices such as these. The region has a relatively high prevalence of disabilities, including both congenital and acquired disabilities.
Free Valuable Insights: Global Electric Wheelchair Market size to reach USD 6.8 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Invacare Corporation, Sunrise Medical, Inc., Karman Healthcare, Inc., Dane Technologies, Pride Mobility Products Corporation, Drive DeVilbiss Healthcare (Medical Depot, Inc.), Ottobock SE & Co. KGaA, GF Health Products, Inc., Golden Technologies, and Meyra Group GmbH.
By Application (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Product Type (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Geography (Volume, Thousand Units, USD Billion, 2019 to 2030)
This Market size is expected to reach $6.8 billion by 2030.
Growth of global aging population are driving the Market in coming years, however, High cost of acquisition and maintenance restraints the growth of the Market.
Invacare Corporation, Sunrise Medical, Inc., Karman Healthcare, Inc., Dane Technologies, Pride Mobility Products Corporation, Drive DeVilbiss Healthcare (Medical Depot, Inc.), Ottobock SE & Co. KGaA, GF Health Products, Inc., Golden Technologies, and Meyra Group GmbH.
In the year 2022, the market attained a volume of 1,682.5 thousand units, experiencing a growth of 8.8% (2019-2022).
The Home Care Settings segment is registering the maximum revenue in the Market, By Application in 2022; thereby, achieving a market value of $4.0 billion by 2030.
The North America region is generating the maximum revenue in the Market, By Region in 2022; thereby, achieving a market value of $2.4 billion by 2030.
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