A surge in demand for electric mobility devices among the elderly and individuals with disabilities is accelerating the growth trajectory of the electric wheelchair market. Moreover, the growing prevalence of chronic diseases coupled with the rise in the geriatric population is driving the market towards unprecedented levels of growth. Furthermore, the market will continue to display substantial momentum with the rising demand for electrical wheelchairs in healthcare facilities for patients. Apart from that, the continuous evolution in the design of electric wheelchairs is contributing to its growing traction. Battery-operated, in particular, has gained significant prominence due to increased convenience for users. All these trends together are projected to spur exponential growth in the global electric wheelchair market over the forecasted period.
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Increase in Number of Accidents Soars Demand for Electric Wheelchair
An uptick in the number of accidents in recent years is propelling the growth of the global electric wheelchair market. Often, individuals met with an accident suffer short-term or long-term disability. World Health Organisation (WHO) data reveals that approx. 50 million individuals sustain injuries as a result of traffic accidents. To this end, electric wheelchairs help these patients to move safely and comfortably from one location to another. Therefore, it is estimated that the surge in accidents will boost the sales of electric wheelchairs. Such a scenario, in turn, set the stage for novel revenue generation in the global electric wheelchair market.
Extensive Demand from Home Care Sector to Significantly Influence Market Growth
Hospitals clinics, home care, and sports conditioning has emerged as key end-use sectors in the electric wheelchair market. However, of late, the home care sector is providing a major impetus to the electric wheelchair market growth. Home care helps patients suffering from various diseases rest, recover, and get treatment in the comforts of their own homes. In addition to this, home care boosts family engagement, and offers companionship and individualized attention. With the help of electric wheelchairs, homecare providers are able to develop safe work procedures. Against this backdrop, the global electric wheelchair is projected to forge its trail to hypergrowth during the study period.
Growing Incidence of Physical Immobility Issues Cements North America’s Position as a Key Regional Player
North America is expected to take the lead in the global electric wheelchair industry. The growing prevalence of various physical immobility problems coupled with the rise in geriatric populations in nations such as the U.S. and Canada is facilitating regional market expansion. Considering such a favourable landscape in the regional market, prominent industry participants have increased their investments in research and development (RD) activities. Meanwhile, Asia Pacific’s electric wheelchair industry is projected to expand at the highest rate owing to the large consumer base in the region and the rising number of modern hospitals and healthcare facilities.
Leading Market Players
Some of the major players in the electric wheelchair industry include GF Health Products, Inc, Invacare Corp., Permobil AB, OttoBock Healthcare GmbH, Hoveround Corporation, Pride Mobility Products Corp., LEVO AG, Sunrise Medical Limited, MEYRA GmbH, Invacare Corp., and Medical Depot, Inc.
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