Market Insights - Industry Research Report

Electric Wheelchair Market

Electric Wheelchair Market Size, Share, & Growth Report- By Product: Center Wheel Drive, Front Wheel Drive, Standing Electric Wheelchairs, Rear Wheel Drive; By End Users: Hospitals & Clinic, Home Care, Sports Conditioning; By Age Group and Region – Global and Regional Industry Overview, Market Intelligence, Premium Insights, Complete Analysis, Historical Data, and Forecasts 2023 – 2030

The global electric wheelchairs market had a value of USD 7.39 billion in 2023, and it is projected to reach USD 13.69 billion by 2030, showing a compound annual growth rate (CAGR) of about 9.20% during the forecast period spanning from 2023 to 2030.

Electric Wheelchair Market

Introduction

When walking is difficult or impossible because of a disease, accident, or disability, a wheelchair is utilized. Wheelchairs come in two varieties: manual wheelchairs and powered wheelchairs. People who are crippled or unable to walk due to an injury or certain illnesses use wheelchairs to go around. Both interior and outdoor uses are possible for them. Wheelchairs that are specially made for daily usage or particular field activity are also an option. The user’s issues or suffering, such as back pain, sores, digestion, and breathing, are reduced by wheelchairs. Individuals with upper body strength typically use manual wheelchairs, while patients who tire easily utilize electric wheelchairs.

Market Dynamics

A growing number of electric wheelchair product launches, an increase in chronic disease instances, an increase in research and development activities by market participants, and an increase in strategic partnerships among market participants are some of the factors projected to fuel market expansion. It is anticipated that a key driving force in the market under study will continue to be the rise in disabilities brought on by an aging population and the prevalence of chronic diseases, which has led hospitals and healthcare facilities to use electric wheelchairs to improve the welfare of patients and healthcare workers. Additionally, electric wheelchairs are utilized in home healthcare settings to transfer patients from one location to another in a secure and comfortable manner. As a result of the extraordinary increase in the number of elderly people, it is anticipated that the need for electric wheelchairs in hospitals and nursing homes will rise. Over the course of the forecast period, it is anticipated that the large increase in the senior population will drive the growth of the worldwide electric wheelchair market.

However, because they are such high-tech tools for assisting the elderly and crippled with mobility, electric wheelchairs are frequently anticipated to have flaws, inconsistent technical issues, and other issues. The U.S. Food and Drug Administration (FDA) frequently recalls electric wheelchairs as a result of these technical issues, which is anticipated to restrain the growth of the electric wheelchair market over the forecast period.

Additionally, the market for electric wheelchairs is being driven by an increase in accident rates. This is explained by the fact that accidents can result in either short-term or long-term disability. Carrying patients to the bathroom requires a lot of effort from the carer. WHO estimates that 50 million people worldwide sustain injuries as a result of traffic accidents. Patients can be moved from one location to another safely and comfortably with the use of electrical wheelchairs. Therefore, a rise in accidents is anticipated to push the market for electric wheelchairs in the near future.

Segmentation Insights

Product Insights

Regarding product types, the center wheel drive type has emerged as the dominant segment. This is primarily due to its versatile functionality and multidimensional approach. It facilitates uniform torque distribution to all wheels, promoting enhanced balance and stability in wheelchairs. Additionally, it exhibits greater durability compared to other system types and offers a tighter turning radius. Its lightweight front tire enables easy navigation through narrow pathways, making it a user-friendly option.

End Users Insights

In terms of end-users, the hospital segment has taken the lead in the market. This can be attributed to the substantial demand and supply dynamics within the healthcare sector. Typically, patients turn to hospitals following accidents or the onset of disabilities, and it is in these medical facilities that wheelchair usage is first recommended. Consequently, hospitals represent a significant market for electric wheelchairs. These products are also extensively employed for patient transfers and mobility, ensuring maximum comfort and safety. Stringent standards set for healthcare facilities have further driven sales and demand for electric wheelchairs in the market.

Regional Overview

The Middle East and Africa, Asia Pacific, Europe, South America, North America, and Latin America make up the regional segments of the electric wheelchair market. During the predicted period, North America is anticipated to fare well. High investment capacity, improved technology support, and weak government rules are to blame for this. Better growth could be seen in the Asia-Pacific region during the projection period. Similar factors exist in Europe and North America. As a result, it is anticipated to increase at a good rate during the projection period.

Key market players

  1. Matsunaga Manufactory Co., Ltd
  2. Meyra Group
  3. Invacare Corporation
  4. Karma Medical Products Co., Ltd
  5. Miki Kogyosho Co., Ltd
  6. Nissin Medical Industries Co., Ltd
  7. Pride Mobility Products Corp
  8. Sunrise Medical (U.S.) LLC
  9. Ottobock Se & Co Kgaa
  10. Permobil AB

Segments covered in the report

By Product

  1. Center Wheel Drive
  2. Front Wheel Drive
  3. Standing Electric Wheelchairs
  4. Rear Wheel Drive

By End Users

  1. Hospitals & Clinic
  2. Home Care
  3. Sports Conditioning

By Age Group

  1. 60 years
  2. 21 to <60 years
  3. < 20 years

By Geography

  1. North America
  2. Europe
  3. Asia-Pacific
  4. Latin America
  5. Middle East & Africa (MEA)

Frequently Asked Questions

The global Electric Wheelchair market was estimated to be worth USD 6.2 billion in 2022 and is expected to reach USD 7.39 billion in 2023.
The global Electric Wheelchair market is projected to achieve a compound annual growth rate (CAGR) of 9.2% from 2023 to 2030, reaching USD 13.69 billion by 2030.
Some of the key players operating in the Electric Wheelchair market include Matsunaga Manufactory Co., Ltd, Meyra Group, Invacare Corporation, Karma Medical Products Co., Ltd, Miki Kogyosho Co., Ltd, Nissin Medical Industries Co., Ltd, Pride Mobility Products Corp, Sunrise Medical (U.S.) LLc, Ottobock Se & Co Kgaa, Permobil AB.

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