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Electric Wheelchair Market Global Industry Trends, Growth, Share, Size and Forecast Research Report 2032

10-11-2024 11:05 AM CET | Health & Medicine

Press release from: Emergen Research

Electric Wheelchair Market

Electric Wheelchair Market

The global electric wheelchair market, valued at USD 3.12 billion in 2022, is projected to grow at a rapid compound annual growth rate (CAGR) of 10.6% during the forecast period. Key factors driving this growth include the rising geriatric population, increasing prevalence of spinal deformities, disabilities, and accidents, as well as significant advancements in electric wheelchair technology.

One of the major contributors to this growth is the rising demand for electric wheelchairs in the healthcare sector. The increasing number of people, including children and elderly individuals, suffering from chronic conditions such as obesity and disabilities, is leading to a higher demand for electric mobility solutions. Hospitals and home care providers are increasingly turning to electric wheelchairs to enhance the mobility of individuals with limited physical abilities.

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Technological Advancements Through AI

Artificial Intelligence (AI) is playing a significant role in transforming the healthcare sector, including electric wheelchair technology. New innovations, such as facial expression-based commands for wheelchair movement, are making electric wheelchairs more intuitive and user-friendly. AI-based wheelchairs are considered assistive technology, helping individuals carry out daily tasks they may otherwise find challenging due to physical limitations.

Companies in the electric wheelchair market are also investing heavily in research and development to improve their product offerings. For example, Chinese startup Bang Bang Robotics raised USD 14.8 million in a Series B funding round to further develop AI-powered electric wheelchairs, highlighting the ongoing interest in this innovative segment.

Growing Geriatric Population

The increasing number of older individuals worldwide is expected to further drive the demand for electric wheelchairs. According to the World Health Organization (WHO), by 2030, one in six people globally will be aged 60 or older, and by 2050, the global population of individuals aged 80 and above is expected to triple, reaching 426 million. As life expectancy increases and medical care improves, the need for electric mobility solutions, especially for the elderly, will continue to rise.

Challenges to Market Growth

Despite these positive trends, the electric wheelchair market faces several challenges. One of the main obstacles is the lack of adequate infrastructure in developing countries. Electric wheelchairs rely on well-maintained sidewalks, slopes, and accessible public spaces to function effectively, which is often lacking in nations like India and Brazil. Additionally, there is a shortage of skilled professionals in hospitals and clinics in some regions, making it difficult to handle advanced electric wheelchairs properly. These factors could limit market growth in certain areas.

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Market Segmentation Insights

The global electric wheelchair market is divided into various segments based on product type and end-use.

Center Wheel Drive Leads Product Segment: Among the product types, the center wheel drive segment held the largest market share in 2022. This type of wheelchair is favored for its durability, stability, and ease of movement. Its ability to provide equal torque to all wheels allows users to maintain balance, and its smaller turning radius makes it ideal for navigating narrow spaces. Center wheel drive wheelchairs are especially beneficial for users with cognitive or perceptual impairments.

Moderate Growth in Front-Wheel Drive Segment: The front-wheel drive segment is expected to see moderate growth during the forecast period. These wheelchairs offer a lower seat-to-floor height, making them easier for users to fit under tables and desks. Their ability to navigate obstacles and uneven surfaces makes them suitable for both indoor and outdoor use, with a turning circle smaller than rear-wheel drive options.

End-Use Insights

Hospitals and Clinics Dominate the Market: In terms of end-use, hospitals and clinics accounted for the largest share of the electric wheelchair market. Patients with chronic diseases or disabilities often require electric wheelchairs to move around hospital premises for medical tests and treatment. These healthcare facilities are increasingly investing in high-quality, advanced electric wheelchairs to meet the growing demand. Hospitals also have dedicated staff trained to handle these advanced devices, providing a comprehensive range of services to patients with mobility challenges.

Electric Wheelchair Top Companies and Competitive Landscape

The global electric wheelchair market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective electric wheelchair solutions in the market.

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Some major players included in the global electric wheelchair market report are:

JIN MEDICAL INTERNATIONAL LTD.
Invacare Corporation
Sunrise Medical Limited
Permobil AB
OttoBock Healthcare
Pride Mobility Products Corp.
Matsunaga Manufactory Co., Ltd.
Meyra Group
Karma Medical Products Co., Ltd.
Miki Kogyosho Co., Ltd.
Nissin Medical Industries Co., Ltd.
Golden Technologies
Now Technologies Zrt
GF Health Products, Inc.
Levo AG
Drive Devilbiss Healthcare
Hoveround Corporation

Electric Wheelchair Latest Industry Updates

On 17 March 2023, Golden Technologies announced the launch of two new lightweight, super-portable, foldable power wheelchairs named as GP301 Stride aluminum folding power wheelchair and GP302 Cricket carbon fiber folding power wheelchair for upgrading their existing product portfolio.

On 22 July 2022, Sunrise Medical announced the launch of QUICKIE ACCESS, a knee-pivot manual wheelchair for independent propelling with the benefits of tilt and recline for upgrading their existing product portfolio. This wheelchair is developed to solve multiple seating challenges while allowing clients to hand or foot propel, offering much appreciated independence.

On 6 March 2020, Invacare Corporation launched Invacare AVIVA FX Power Wheelchair, a front-wheel drive type electric wheelchair. This model is made by the standard Invacare G-Trac Technology and LiNX Technology's improved Adaptive Load Compensation.

Electric Wheelchair Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented the global electric wheelchair market on the basis of product type, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2019-2032)

Center Wheel Drive
Front Wheel Drive
Standing Electric Wheelchairs
Rear Wheel Drive

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals and Clinics
Home Care
Sports Conditioning

Regional Outlook (Revenue, USD Billion; 2019-2032)

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa

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Emergen Research | Web: www.emergenresearch.com
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E-mail: sales@emergenresearch.com
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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