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Global Electric Wheelchair Market to Grow at a CAGR of 9.7% During 2022-2027, Aided by the Growing Ageing Population

According to a new report by EMR titled, ‘Global Electric Wheelchair Market Report and Forecast 2022-2027’, the market attained a value of USD 3.11 billion in 2020. The market is further projected to grow at a CAGR of 9.7% in the forecast period of 2022-2027.

The global market for electric wheelchair is being driven by the rising prevalence of chronic orthopaedic conditions among individuals. Physical ailments restricting mobility, arising from traffic accidents, ageing, and severe neurological diseases, are resulting in an increased demand for mobility assistance solutions. The growing demand for advanced wheelchairs to assist in travelling across rough and difficult terrains comfortably has contributed to the market growth. In addition, the rising geriatric population, with heightened susceptibility to severe ailments and injuries is anticipated to bolster the demand for electric wheelchairs in the forecast period. Furthermore, the growing research activities to develop innovative electric wheelchairs are expected to supplement the market growth. Mobility assistance solutions including wheelchairs are being integrated with advanced technologies such as motor sensors and touch panels to provide enhanced control and safety features.

The growing focus of the market leaders on enhancing the quality of life of wheelchair users is anticipated to further the development of advanced wheelchair solutions. For instance, in January 2022, Invacare Corporation (NYSE: IVC) announced the launch of its new and narrower version of Invacare® AVIVA® STORM RX™ rear wheel drive power wheelchair. This new version offers improved features such as small seat size, lightweight body, and a tighter turn radius, along with the innovative design, technology, and performance features of the standard version of the AVIVA® STORM RX™. Meanwhile, in March 2020, Allied Motion Technologies, Inc. (NASDAQ: AMOT) announced the acquisition of the Dynamic Controls subsidiary of Invacare Corporation (NYSE: IVC). The integration of control and motor technologies and the comprehensive know-how of both the firms will create new opportunities for technical advancements in power wheelchair solutions. Such developments are expected to prove beneficial for the growth of the electric wheelchair industry.

Market Breakup by Product Type and Region:

  • The market is divided, based on product type, into centre wheel drive, front wheel drive, rear wheel drive, and standing electric wheelchair, among others. 
  • Region-wise, the global market for electric wheelchair can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for electric wheelchair is being driven by the increasing demand for mobility assistance solutions with the growing prevalence of disabilities and chronic diseases.
  • The growing geriatric population, with heightened susceptibility to chronic diseases and injuries is driving the market growth. 
  • The rising purchasing power and improved living standards of people are also adding to the market expansion. 
  • The rising investments by the leading market players to develop advanced wheelchairs to enhance the quality of life of patients are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for electric wheelchair for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the product types and regions of electric wheelchair.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global electric wheelchair market are Invacare Corporation, Karma Medical Products Co., Ltd., Matsunaga Manufactory Co., Ltd., Meyra Group, and Guangzhou HEDY Rehabilitation Technology Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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