Electric Wheelchair Market is Expected to Grow at a Healthy CAGR During Forecast 2018-2023

Market Overview:
Electric wheelchairs are of immense benefit to wheelchair users in terms of convenience and suitability for outdoor as well as indoor movement. The global electric wheelchair market is expected advance with an impressive CAGR and achieve high growth revenues in the coming years, projects Market Research Future (MRFR) in an exhaustive study. Electric wheelchairs have gained widespread adoption due to the superior advantages it provides over manual wheelchairs.

The growth of the global electric wheelchairs market is sustained by the rise in geriatric population. Equipped with sensors and other assistive technology, electric wheelchairs help to alleviate the problems of mobility in the elderly populace. In addition, they are also beneficial to those who are unable to use manual wheelchairs.

The need for smart wheelchairs for disabled people is a significant factor boosting the growth of the market. People with motor, sensory, or cognitive impairment are unable to use manual wheelchairs or joysticks and find it extremely advantageous to use smart electric wheelchairs.
The superior advantage of convenience acts as a motivating force for the growth of the market. Being user-friendly, they can be easily operated by aged people or consumers with disabilities. Other than patients with mobility issues, they can also be of use to accident patients and patients suffering from other chronic conditions.

The sophistication of technology and ready availability, and the development of prototypes have influenced the growth of the market to a great extent. To accommodate the pool of users who are unable to operate wheelchairs, massive efforts have been made by researchers to develop assistive technologies and make improved electrical wheelchairs which have further helped the global electric wheelchairs market progress. Other driving factors include the rise in incidences of road accidents, a growing number of patients with spinal deformities and rising purchasing power of consumers. However, the growth of the market might be hindered by the high cost of electric wheelchairs, and lack of awareness in the developing regions.

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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.

Segmentation:

The global electric wheelchair market has been segmented based on product and end use. By product, the market has been segmented into an electric indoor chair, electric outdoor chair, dual-purpose chair, rear wheel drive chair, front wheel drive chair, center wheel drive chair, standing electric wheelchair, and others. By end use, the market has been segmented into home care settings, hospitals/clinics, and others.

Regional Analysis

The Americas, Europe, Asia Pacific, and the Middle East & Africa are the key markets for an electric wheelchair. The Americas is an established market and has been posting continuous growth owing to the inflated demand for electric wheelchairs due to higher affordability, high awareness regarding the product and greater inclination towards technologically advanced equipment. Favorable reimbursement scenario and government support for the aged population in the form of subsidies for medical equipment and medical facilities also support the growth of the market. Europe too is a strong market and has been exhibiting steady growth due to high investment in research & development activities. Asia Pacific is expected to grow at a rapid pace on account of rising purchasing power and awareness in the region. In addition, the rise in geriatric population, increasing penetration of electric wheelchairs, and increasing interest from manufacturers in investing in the developing economies of China, and India also create a conducive environment for the growth of the market in Asia Pacific. The Middle East & Africa market is anticipated to exhibit fast growth due to the development of the medical facilities in the region.

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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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