Dublin, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The "Electric Wheelchair Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The global electric wheelchair market is poised for substantial growth, with projections indicating it will surpass $6.60 billion by 2030. Electric wheelchairs, powered by batteries and motors, offer enhanced mobility and convenience, typically controlled by a joystick. The market's rapid expansion is attributed to a surge in demand for these advanced mobility aids.
Aging Population Drives Demand
The World Health Organization forecasts a doubling of the percentage of people aged 65 and older, from 7% in 2000 to 16% by 2050. This aging demographic presents a significant opportunity for the widespread adoption of electric wheelchairs on a global scale.
Market Growth Rate
The electric wheelchair market is expected to grow at an impressive CAGR of 8.85% during the forecast period of 2022-2030.
Accidents and Disabilities Boost Demand
A significant catalyst for the electric wheelchair market's growth is the rising accident rate, which often results in temporary or permanent disabilities. The challenges of manually moving patients to essential locations, such as bathrooms, can be strenuous for caregivers. According to the World Health Organization (WHO), approximately 50 million people worldwide sustain injuries from road accidents annually. Electric wheelchairs provide a stable and comfortable means of transferring patients. Consequently, the increasing incidence of accidents is expected to drive market growth in the foreseeable future. However, challenges like inadequate healthcare infrastructure and low purchasing power in low-income countries hinder market expansion.
Pandemic Impact and Aging Population
The COVID-19 pandemic restricted long-distance travel for many individuals, resulting in increased use of power wheelchairs. Hospitals and healthcare facilities adopted these advanced wheelchairs for the convenience and safety of patients during transfers. The growing aging population, especially in senior care facilities, has also fueled market growth. The increased usage of electric wheelchairs in orthopedic clinics and hospitals is driven by a rise in orthopedic and joint replacement surgeries.
Center Wheel Drive Dominates
In terms of product type, the center wheel drive (CWD) configuration leads the electric wheelchair market. CWD models excel in maneuverability and boast a compact turning radius, making them ideal for indoor use, tight spaces, and navigating doors. Additionally, they prioritize rider comfort and safety, providing a balanced, stable ride with reduced tipping risk. Ongoing technological advancements further enhance CWD wheelchair performance, solidifying their position as market leaders.
Seniors Drive Demand
The age group above 60 years represents the fastest-growing segment in the electric wheelchair market. Seniors seek mobility solutions that enhance their independence and quality of life. Electric wheelchairs offer convenient and eco-friendly transportation, enabling seniors to navigate indoor and outdoor environments easily. These devices are equipped with features such as ease of control, safety mechanisms, and comfortable seating, catering to the specific needs and challenges faced by older individuals. As the population continues to age, the electric wheelchair market is well-positioned for sustained growth, meeting the mobility requirements of seniors and ensuring their continued independence.
Hospitals Maintain Key Role
Hospitals remain a pivotal market segment for electric wheelchairs, serving as vital mobility solutions for patients with varying degrees of mobility impairment. Electric wheelchairs are essential for tasks like patient transportation within healthcare facilities, thanks to their maneuverability and patient comfort. With the healthcare sector continually evolving and expanding, the demand for electric wheelchairs is expected to endure, playing a crucial role in ensuring efficient patient care and mobility within the medical field.
United States Leads the Way
The United States electric wheelchair market holds a pivotal position within the healthcare and assistive technology sectors. It is poised to maintain its dynamism in the foreseeable future, serving diverse user needs across the country. Continuous technological advancements and a growing aging population are expected to drive sustained growth. Improvements in features, such as enhanced maneuverability and connectivity options, along with a commitment to improving the quality of life for those reliant on electric wheelchairs, contribute to the market's robust outlook in the United States.
Company Analysis:
1. InvacareCorporation
2. Dassault System SA
3. Sunrise Medical
4. Karman Healthcare Inc
5. Pride Mobility Products Corp
6. Permobil AB
7. Sermax Mobility Ltd
8. Carex Health Brands Inc
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.35 Billion |
| Forecasted Market Value (USD) by 2030 | $6.6 Billion |
| Compound Annual Growth Rate | 8.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth
4.2 Challenge
5. Global Electric Wheelchair Market
6. Market Share - Global Electric Wheelchair Market
6.1 By Products Type
6.2 By Age Group
6.3 By End User
6.4 By Countries
7. Product Type - Global Electric Wheelchair Market
7.1 Centre Wheel Drive
7.2 Front Wheel Drive
7.3 Rear Wheel Drive
7.4 Standing Electric Wheelchair
7.5 Others
8. Age group - Global Electric Wheelchair Market
8.1 Upto 20 years
8.2 21 to 60 years
8.3 Above 60 Years
9. End Users - Global Electric Wheelchair Market
9.1 Hospitals
9.2 Clinics
9.3 Home Care
10. Countries - Global Electric Wheelchair Market
11. Porter's Five Forces Analysis - Global Electric Wheelchair Market
12. SWOT Analysis - Global Electric Wheelchair Market
13. Key Players Analysis
For more information about this report visit https://www.researchandmarkets.com/r/6ljdy4
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