Press release
2024 Electric Wheelchair Market Report : Market Size, Growth Drivers, And Key Trends | Invacare Corporation, Sunrise Medical Limited, Pride Mobility Products Corp, Permobil AB
Electric Wheelchair Global Market Report 2024
The Business Research Company offers in-depth market insights through Electric Wheelchair Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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 growth in the historic period can be attributed to rise in orthopedic surgeries, growth in incidences of obesity, rapid growth in 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%. The growth in the forecast period can be attributed to increasing government initiatives, growing demand for electric mobility devices for people with disability, healthcare infrastructure improvements and rise in healthcare expenditure. Major trends in the forecast period include launching smart wheelchair, next generation rear-wheelchair, venerable e-motion power-assist system, new lightweight electric wheelchair, technology advancement and focus on strategic partnership and collaborations.
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Market Segmentation:
The electric wheelchair market covered in this report is segmented -
1) By Product Type: Center Wheel Drive Electric Wheelchair, Front Wheel Drive Electric Wheelchair, Rear Wheel Drive Electric Wheelchair, Standing Electric Wheelchair, Other Products
2) By Category: Adults, Pediatric
3) By Application: Homecare, Hospitals, Ambulatory Surgical Centers, Rehabilitation Centers, Other Applications
Major Driver - Rising Incidence Of Spinal Deformities Fuels Growth In Electric Wheelchair Market
An increase in the incidence of spinal deformities is contributing to the growth of the electric wheelchair market. Spinal deformity refers to an abnormal alignment or curve of the bony vertebral column. Scoliosis in severe forms will be disabling. For some people diagnosed with Scoliosis, a wheelchair is required for mobility and comfort. For instance, according to the Columbia University Irving Medical Center, Scoliosis, a widespread, occasionally genetic spinal disorder that causes the spine to curve, affects 2% to 3% of Americans, or between 6 million to 9 million people in 2021. An increase in the incidence of spinal deformities will drive the growth of the electric wheelchair market.
Competitive Landscape:
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 Sanitätsartikel 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
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Top Trend - Technological Advancements Drive Innovation In The Electric Wheelchair Market
Technological advancements are shaping the electric wheelchair market. Many companies are launching new products to give an enhanced experience to their users. In February 2021, Invacare Corporation, an American medical equipment manufacturer, launched the Invacare AVIVA STORM RX power wheelchair. It is a forward rear-wheel drive power wheelchair with superior technology, design, and performance. It is a power wheelchair designed to travel outdoors and can also provide mobility indoors without any assistance.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electric Wheelchair Market Characteristics
3. Electric Wheelchair Market Trends And Strategies
4. Electric Wheelchair Market - Macro Economic Scenario
5. Electric Wheelchair Market Size And Growth
…..
27. Electric Wheelchair Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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