COVID-19 IMPACT: Electric Wheelchair Market Growth, Restrains and Opportunities 2022 | Drive Medical Ltd., GF Health Products, Inc., Invacare Corporation., Karman Healthcare, LEVO AG, MEYRA GmbH, OttoBock Healthcare GmbH

Electric wheelchairs are used for patient movement from one place to another without causing any muscular strain to the patient and to the supporting healthcare workers. The demand for electric wheelchairs is expected to increase globally during the forecast period, owing to the increased standards, demand for automated wheelchairs, and favorable regulations.

Global Electric Wheelchairs Market size in 2015 was valued at $1,597 million growing at CAGR of 17.1% to reach $4,846 million by 2022. Electric wheelchairs market has witness increased adoption owing to factors such as ease of mobility, convenience, growing worldwide elderly population and growing demand for advanced wheelchairs from the sports industry, as many sports events are organized for disabled persons such as wheelchair basketball, wheelchair rugby, and others.

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The global electric wheelchairs market is categorized based on the type of product into front-wheel drive, rear-wheel drive, center wheel drive, standing electric wheelchairs, and others. Centre wheel drive segment generated a higher revenue in 2015, and is expected to dominate the market throughout the forecast period, owing to its stability on slopes & uneven terrain, and maneuvering is more intuitive for people with perceptual and cognitive impairment.

The demand for power wheelchairs is growing at a steady pace owing to the introduction of technologically advanced products that are equipped with accessibility and control gadgets. The factors that drives the market growth globally are rise in geriatric population and growth in technological developments in design of power wheelchairs. In addition, rise in disposable income, development of medical facilities, and improvement of economic conditions fuels the market growth. North America dominated the market in 2015, in terms of highest demand. The U.S. government provides medical insurance to elderly people over 65 years, which helps them to get medical facilities and equipment at subsidized rates while, the adoption is highest in Asia-Pacific and LAMEA. The electric wheelchair manufacturers are now targeting developing nations, such as India and China, as the potential markets, owing to increase in penetration of electric wheelchairs in the global market. However, high cost of electric wheelchairs and lack of infrastructure hinders the market growth.

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The key players profiled in the report are Drive Medical Ltd., GF Health Products, Inc., Invacare Corporation., Karman Healthcare, LEVO AG, MEYRA GmbH, OttoBock Healthcare GmbH, Pride Mobility Products Corp, Permobil AB, and Sunrise Medical Limited. These market players have adopted various strategies, such as product launch, acquisition, collaboration, and partnership, to expand their foothold in the market.

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