PUBLISHER: The Business Research Company | PRODUCT CODE: 1429790
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429790
An electric wheelchair is a mobility device consisting of a seating surface with attached wheels, powered by an electric source, typically motors and batteries. These wheelchairs are designed to assist individuals with medical conditions or mobility challenges, providing a means to move from one place to another.
The main types of electric wheelchairs include rear-wheel drive, center-wheel drive, front-wheel drive, standing wheelchairs, and others. Rear-wheel drive wheelchairs have large drive wheels at the back, while center-wheel and front-wheel drive variants have their drive wheels in the respective positions. Standing wheelchairs allow users to stand while using the device. Electric wheelchairs cater to various age groups, including adults and pediatrics. These wheelchairs find applications in home care, hospitals, ambulatory surgical centers, rehabilitation centers, and other healthcare settings.
The electric wheelchair market research report is one of a series of new reports from The Business Research Company that provides electric wheelchair market statistics, including the electric wheelchair industry global market size, regional shares, competitors with an electric wheelchair market share, detailed electric wheelchair market segments, market trends, and opportunities, and any further data you may need to thrive in the electric wheelchair industry. This electric wheelchair market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electric wheelchair market size has grown rapidly in recent years. It will grow from $4.86 billion in 2023 to $5.58 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The historical growth in the electric wheelchair market can be attributed to several factors, including the rise in orthopedic surgeries, an increase in incidences of obesity, the rapid growth of the geriatric population, and regulations favoring disabled-friendly places.
The electric wheelchair market size is expected to see rapid growth in the next few years. It will grow to $8.8 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. Projected growth is driven by government initiatives, increased demand for electric mobility devices for people with disabilities, healthcare infrastructure improvements, and rising healthcare expenditure. Key trends include the launch of smart wheelchairs, next-gen rear-wheelchairs, innovative power-assist systems, lightweight electric wheelchairs, technological advancements, and a focus on strategic partnerships.
The escalating prevalence of spinal deformities is a pivotal factor propelling the expansion of the electric wheelchair market. Spinal deformity, characterized by an abnormal alignment or curvature of the vertebral column, particularly manifests as severe forms of scoliosis, resulting in debilitating conditions. A notable statistic from the Columbia University Irving Medical Center reveals that scoliosis, a prevalent spinal disorder affecting 2% to 3% of Americans or an estimated 6 million to 9 million individuals in 2021, necessitates the use of wheelchairs for mobility and enhanced comfort. This rise in spinal deformities is anticipated to be a driving force behind the growth of the electric wheelchair market.
The burgeoning electric wheelchair market is further propelled by increasing governmental initiatives. Governments worldwide, including those of India, China, and the USA, are actively implementing measures to foster the growth of this market segment. A case in point is the UK government's March 2022 launch of the Motability Scheme, a strategic initiative designed to facilitate access to electric wheelchairs for disabled individuals. Under this scheme, individuals can lease an electric wheelchair by utilizing the mobility component of their benefit payments. This innovative approach enables certain individuals to allocate their benefits toward acquiring a wheelchair, thereby underscoring the significant role of government support in driving the expansion of the electric wheelchair market.
The landscape of the electric wheelchair market is being profoundly influenced by technological advancements, with numerous companies introducing innovative products to elevate user experiences. In February 2021, Invacare Corporation, a prominent American medical equipment manufacturer, unveiled the Invacare AVIVA STORM RX power wheelchair. Distinguished by its forward rear-wheel drive and state-of-the-art technology, design, and performance, this power wheelchair is specifically engineered for outdoor travel while also offering seamless indoor mobility without external assistance.
A notable trend gaining momentum in the electric wheelchair market is the adoption of the venerable E-motion power assist system. This system, recognized for its efficacy, facilitates easier movement of wheelchairs over extended distances and uphill terrains. Companies are actively integrating these systems into the market, enhancing the travel capabilities of electric wheelchairs. A case in point is the collaborative effort between Invacare Corp, a USA-based medical equipment manufacturer, and Alber, a German company specializing in electromobility. In March 2021, they jointly launched the next generation of the venerable e-motion power-assist system, featuring significant battery and motor upgrades resulting in a 33% power increase. This enhanced strength allows the e-motion system to now support up to 330 lbs., a notable 15% increase from the previous model. The system's new features, including a consistent pace maintenance and innovative roll-back delay for extra assistance during descents, further underscore the evolution of electric wheelchair technology for improved user convenience and performance.
In October 2021, Etac, a UK-based company specializing in ergonomic assistive devices and patient handling equipment, successfully acquired Ki Mobility for an undisclosed sum. This strategic move enhances Etac's product offering by incorporating complex manual rehab wheelchairs, seating, and pediatric assistive devices. Ki Mobility, the acquired company, is a leading developer and provider of wheelchairs and seating solutions.
Major companies operating in the electric wheelchair market report are Invacare Corporation, Sunrise Medical Limited, Pride Mobility Products Corp, Permobil AB, Ottobock SE & Co. KGaA, Golden Technologies, Drive Medical Ltd., Hoveround Corporation, GF Health Products, Karman Healthcare, Ostrich mobility, Motorized, Hero, Med-e-move, Vissco, Micro & Nano Technologies, Guangdong Kaiyang Medical, Yongkang Goodbrother, Jiangsu Yuyue Medical, Hebei Satcon Medical, Evox Therapeutics, Phoenix, Linet, Karma, Reac Poland Sp.Zoo, Mobilex, Quantum Rehab, Medline, Graham field Health Products Inc., Numotion, Carex Health Brands Inc., AGA Sanitatsartikel GmbH, Brumaba GmbH & Co. KG, medifa-hesse GmbH & Co. KG, UFSK-International OSYS GmbH, Stiegelmeyer GmbH & Co. Kg, Mr. Wheelchair, Medop CC, CE Mobility, CareChamp, Sitwell Technologies, Sheer Mobility
North America was the largest region in the electric wheelchair market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric wheelchair market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electric wheelchair market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The electric wheelchair market consists of sales of smart EV electric wheelchairs, folding power wheelchairs,and stand-up power wheelchairs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electric Wheelchair Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electric wheelchair market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electric wheelchair? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric wheelchair market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.