Electric wheelchair market

1. Electric wheelchair market is valued at US$ 1199.1 million in 2021 and is expected to reach US$ 1639.6 million by growing at a CAGR of 4.5% over the forecast period 2022-2027. Electric wheelchairs are motor-driven wheelchairs also called power-driven wheelchairs. These chairs run on electric batteries and do not require any human help for movement. Electric wheelchairs are lightweight and compact after folding, so easy to carry. According to WHO’s estimation, 1% of the global population, which counts around 75 million people globally, needs an appropriate wheelchair. However, out of these needy people, only 5% to 15% of people have access, which shows more than 85% of people are in need of a wheelchair. There is a space for new entrants to create demand for an electric wheelchair. Browse for full report @ https://www.marketdataforecast.com/market-reports/electric- wheelchair-market Electric wheelchair market Drivers and Restraints: Increasing orthopedic patients, post-surgery mobility requirements, the increasing global aging population are driving the demand of the market. According to a report by WHO, people above 60 years of age are susceptible to declining physical wellness; this factor can support the increasingly global market for electric wheelchairs. The global population aged 60 years and above is expected to reach 2 billion by 2050 from 900 million in 2015. The simplicity and ease of an electric wheelchair over a traditional manually driven wheelchair is another factor to consider for driving the market. The restraints include the high cost of the electric wheelchair, lack of awareness, low government support. Various NGOs and charities make wheelchairs available locally with public donations and donate locally for needy people, which hinders the market's growth. There is a lack of WHO guidelines inlined service providing wheelchairs in the market and well-developed infrastructure. Ask for a sample report @ https://www.marketdataforecast.com/market-reports/electric- wheelchair-market/request-sample Smart wheelchairs: In the past few years, by the use of technology, there are many developments and reinventions done in the electric wheelchair design to enhance safety and mobility, which led to the invention of a smart wheelchair. In this digital world, by using the Internet of Things, self-driven smart wheelchairs are being made, with digital twin maps and additional safety sensors. Major Challenges in the marketplace: The creation of demand for an electric wheelchair is a major challenge, as globally there are less than 15% of people are using a wheelchair for needy people. So, there is a need to increase awareness among the end-users, and also service providers, and at the policy level. Governments are preferring for local manufacturers and at low cost. Due to high costs, people are still using traditional self-driven wheelchairs.

2. Competition in the marketplace: There is direct competition between the old and new brands in the market, based on technological innovation. Due to government support for local manufacturers, local manufacturers are entering the market and making a presence locally, and that reduces the place in the market for big brands. Due to the unavailability of low-cost electric wheelchairs in the market, many NGOs are entering the market to provide demand-based, quality products at a low cost. Market Segmentation: Electric wheelchair market By type: Front-wheel Drive Center Wheel Drive Rear-wheel Drive Standing Electric Wheelchair Electric wheelchair market By end-user: Personal Hospital Sports conditioning Electric wheelchair market-by geography: North America Europe Asia-Pacific South America Middle-East and Africa North America is the largest market for electric wheelchairs, with more than 60% revenue share in 2021. Out of the total revenue share of North America, 84% revenue share is accounted by adult age category, and the drivers are low cost and low weight of the product, which led to high demand in the market. The Europe electric wheelchair market is known for the high cost compared to other geographies because carbon alloy is used to make lightweight wheelchairs. High-cost products lead to high income and terms of revenue generation Europe follows North America. Major European players focus on providing customized products to generate high revenue. The Asia Pacific is the fastest-growing market for electric wheelchairs and will dominate the market in the next five years with the increasing population of India and China. Due to the increase in China's aging population, China holds more than 240 million population of age more than 60years, and this will drive the electric wheelchair market in upcoming years. On

3. the other hand, India, 2nd largest country by population, records more than 4,40,000 accidents in the year 2019 in which more than 4,50,000 injuries and more than 1,50,000 deaths create the need for a wheelchair in the market and counts in Asia pacific. China manufactures low-cost electric wheelchairs by using aluminum. In South America, the major key players like Drive DeVilbiss Healthcare are located, bringing innovation in technology to provide user-friendly and low-cost products, thus creating the demand in South America. Middle-East and African countries are bringing new innovations like solar charging for batteries. The market is mainly in Argentina, UAE, Brazil, and Saudi Arabia. COVID 19 impact on the electric wheelchair market: COVID 19 pandemic has created many difficulties for the key players in every sector. Disruptions in the supply chain and production unit have brought huge losses for the companies especially in 2021. From the start of 2021, the shares started to rise with the unlock guidelines released by the government everywhere. The electric wheelchair market shares are expected to reach the highest values in the coming years. Major Key Players in the Market: Drive DeVilbiss Healthcare Invacare (USA) Pride Mobility Products Roma Medical Sunrise Medical (Germany/USA) OttoBock Healthcare GmbH(Germany) Permobil (Sweden) About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence and research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. Contact Us: Tel: +1-888-702-9626 Website: https://www.marketdataforecast.com/