The Electric Wheelchair by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Electric Wheelchair, 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.
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.
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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
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.
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