Rapid Advancements will boost Electric Wheelchair Market Size Further
Electric Wheelchair Market: Drivers and Restraints
Factors which are driving the growth of global electric wheelchair market are growing worldwide elderly population, necessity of automated wheelchair for disabled people and high disposable income of people from developed countries such as UK, France, Germany, US, Canada and Japan. Furthermore increasing demand of advanced wheelchairs from sport industry is also influencing the growth of electric wheelchair market, as many sport events are organised specially for disabled persons.
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Apart from several advantages, global electric wheelchair market is also facing some challenges such as high cost of electric wheel chair and lack of awareness and infrastructure. However this issues are expected to reduce during forecast period
Electric Wheelchair Market: Segmentation
The Global Electric wheelchair market is segmented on the basis of product type and region. By product type, the electric wheelchair market can be segmented as centre wheel drive electric wheelchair, front wheel drive electric wheelchair, standing electric wheelchair, rear wheel drive electric wheelchair and others. Among all this product types, centre wheel drive electric wheelchair held largest revenue share and represents more than 50% of total market in 2014. Front wheel drive electric wheelchair is expected to be second largest growing type after centre wheel drive electric wheelchair and estimated to conquer significant growth in near future.
By region, the market is segmented into seven major region such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (excluding Japan), Japan as a separate region and Middle East and Africa (MEA). Current global electric wheelchair market is dominated by North America region however in recent future developing economies such as China, India and Brazil are expected to drive the demand for electric wheelchairs.
Electric Wheelchair Market: Region ?wise outlook
The global electric wheelchair market is estimated to witness robust growth through 2025 due to growing technological advancement in electric wheelchair industry, new products are equipped with gadgets for accessibility and control. North America region led the market in 2014 in terms of highest demand. In US, government provides medical insurance to people over age of 65, which also helps them to get medical facilities at subsidized rates. High purchasing power, increasing elderly population and consumer awareness and inclination towards more sophisticated technology driven the progress of electric wheelchair market in this region. In coming years, developing countries such as India, China and Brazil expected to boost the demand of electric wheelchairs. It is mainly because of gradual increase in consumer awareness and development of medical facilities in this region.
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Electric Wheelchair Market: Key Players
The key international players operating in electric wheelchair market includes OttoBock Healthcare GmbH, Invacare Corp., Pride Mobility Products Corp., Permobil AB, Sunrise Medical Limited, Hoveround Corporation, LEVO AG, Invacare Corp., MEYRA GmbH, Medical Depot, Inc., GF HEALTH PRODUCTS, INC and Others. All these key players are focusing on delivering best value products to their customers. Customised offering and product innovation is a common strategy adopted by most of the key players. These electric wheelchair manufactures offers large variety and different sizes of wheelchairs to meet demand of individuals depending upon their weight and height.
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