Press Release
Press Release
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.
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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.
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