Industry Background:
Electric Wheelchairs are also known as power chair or electric power wheel chairs, is type of wheel mobility device that support seating for a person with difficulty in walking or moving around. This does not require any human assistance for mobility as they are powered by battery. These wheelchairs are user-friendly and convenient. By product the electric wheelchair market can be segmented as Centre Wheel Drive Electric Wheelchair, Front Wheel Drive Electric Wheelchair, Standing Electric Wheelchair and Back Wheel.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Europe |
Current Value (2022) | USD 5591.0 Million |
Unit | Value (USD Million) |
Dominating Application | Hospital |
Dominating Application % Share | 72.3% |
Key Companies Profiled | Golden Technologies (United States), Medical Depot, Inc. (United States), Ottobock (Germany), Invacare Corporation (United States), Hoveround Corporation (United States), Heartway Medical Products Co., Ltd. (Taiwan), 21st Century Scientific, Inc. (United States), Pride Mobility Products Corp. (United States), EZ Lite Cruiser (United States), MERITS CO. LTD. (Taiwan) and Karman Healthcare, Inc. (United States) |
According to AMA, the market for Electric Wheelchair is expected to register a CAGR of 3.53% during the forecast period to 2028. This growth is primarily driven by Rising Demand for an Advanced Wheelchair from the Sports Industry and Growing Need for Powerful Portability Arrangements in Different Indoor and Open-Air Applications.
Globally, a noticeable market trend is evident Development of Technologically Advanced Products
The Consumer Electronics sector in the Asia Pacific region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Golden Technologies (United States), Medical Depot, Inc. (United States), Ottobock (Germany), Invacare Corporation (United States), Hoveround Corporation (United States), Heartway Medical Products Co., Ltd. (Taiwan), 21st Century Scientific, Inc. (United States), Pride Mobility Products Corp. (United States), EZ Lite Cruiser (United States), MERITS CO. LTD. (Taiwan) and Karman Healthcare, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies.
Key Developments in the Market:
In February 2022, Stryker acquired Vocera Communications, Inc., a prominent provider of digital care coordination and communication solutions. This acquisition provides significant opportunities to advance innovations and accelerate digital aspirations.
Influencing Trend:
Development of Technologically Advanced Products and Upsurge in the Cases of Cardiovascular Diseases
Market Growth Drivers:
Rising Demand for an Advanced Wheelchair from the Sports Industry and Growing Need for Powerful Portability Arrangements in Different Indoor and Open-Air Applications
Challenges:
Lack of Pavements and the Climate and Physical Terrain and Access to Rehabilitation Service
Restraints:
High Cost of the Electric Wheel and Poor Infrastructure
Opportunities:
Development of Medical Facilities
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Electric Wheelchair Market
- Analysis about New Entrants in Electric Wheelchair Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Electric Wheelchair Study Sheds Light on
The Electric Wheelchair Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Electric Wheelchair industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Electric Wheelchair industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.