Factors that strengthen the growth of this market include growth in elderly population globally, necessity for automated independent wheelchairs, increase in government expenditure on healthcare, and high disposable income from developed countries, such as U.S., UK, Germany, and others. However, factors that hinders the market growth are high cost of power wheelchairs, lack of awareness about benefits of power wheelchairs, and infrastructure. Moreover, launch of smart wheelchairs equipped with artificial intelligence control systems and increase in active and independent lifestyles offer potential opportunities for manufacturers to innovate and develop new products according to consumer preferences.
Currently, the global electric wheelchairs market has witnessed a balanced growth and is anticipated to grow with a steady CAGR during the forecast period. There has been a considerable rise in disposable incomes over the past decade, which has resulted in improved spending capacity of the consumers on health & medical facilities. Moreover, improvement in standard of living, change in lifestyles, and varied cultures, encourages the growth of the electrical wheelchairs market. North America and Asia-Pacific are the significant markets for electric wheelchairs. The North American electric wheelchairs market is expected to grow at a CAGR of 16.4% to reach $2,192 million by 2022.
The global electric wheelchairs market is segmented on the basis of product type and geography. Based on type, it is classified into center wheel drive, front-wheel drive, rear-wheel drive, standing electric wheelchair, and others. The others segment includes sports-wheelchairs, pediatric-wheelchairs, and high-power electric wheelchairs. Among these products, the center-wheel drive segment is in demand and holds a significant share of around 47% in global electric wheelchairs market in the year 2015.
The key players profiled in the report are Drive Medical Ltd., GF Health Products, Inc., Invacare Corporation., Karman Healthcare, LEVO AG, MEYRA GmbH, OttoBock Healthcare GmbH, Pride Mobility Products Corp, Permobil AB, and Sunrise Medical Limited.
Geographically, the market is analyzed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global market during the analysis period, due to the presence of a large number of established manufacturers of electric wheelchairs in the U.S. and Canada. The market in the Asia-Pacific is expected to grow at a significant rate, owing to the rise in geriatric population and rise in expenditures in emerging markets (India and China) to overcome the unmet medical needs. Technological advancements to develop cost-effective power wheelchairs in these nations offer lucrative opportunities for global electric wheelchairs industry growth.
This report provides quantitative and qualitative analyses of the current market trends and estimations from 2014 to 2022, which assist to identify the prevailing market opportunities in different product segments.
It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
Key drivers, restraints, and opportunities, and their detailed impact analysis are elucidated.
Electric wheelchairs market trends of major countries in each region are mapped according to the estimated revenue.
Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, strength of the buyers, and strength of suppliers.
Key manufactures of global electric wheelchairs industry products are profiled and their recent developments are listed.
Electric Wheelchair Market Key Segments:
By Product Type
Centre Wheel Drive
Front Wheel Drive
Rear Wheel Drive
Standing Electric Wheelchair
Others (Sports Wheelchair, Pediatric Wheelchair, and High-Power Wheelchair)
Rest of Europe
Rest of Asia-Pacific
Key Market Players
OttoBock Healthcare GmbH
Pride Mobility Products Corp.
Sunrise Medical Limited
Drive Medical Ltd.
GF Health Products, Inc.
Other companies mentioned in the report
21st Century SCIENTIFIC Inc.
MERITS CO. LTD.
Ostrich Mobility Instruments.
GUANGZHOU TOPMEDI CO., LTD.
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top factors impacting the market
3.2.2. Top investment pockets
3.2.3. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.3.1. Moderate bargaining power of suppliers
3.3.2. Moderate bargaining power of buyers
3.3.3. Low threat of substitution
3.3.4. Moderate threat of new entrants
3.3.5. High competitive rivalry
3.4. MARKET SHARE ANALYSIS, 2015
3.5. MARKET DYNAMICS
18.104.22.168. Ageing population
22.214.171.124. Increase in spinal deformities
126.96.36.199. Increase in obese population
188.8.131.52. Increase in incidence of disabilities and accidents
184.108.40.206. Inaccessibility to quality healthcare in developing regions
220.127.116.11. High cost
18.104.22.168. Emergence of technologically advanced products
22.214.171.124. Untapped opportunities in developing and under developed economies
CHAPTER 4 GLOBAL ELECTRIC WHEELCHAIRS MARKET, BY PRODUCT TYPE
4.1.1. Market size and forecast
4.2. REAR WHEEL DRIVE
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast
4.3. FRONT WHEEL DRIVE
4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast
4.4. CENTER WHEEL DRIVE
4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast
4.5. STANDING ELECTRIC WHEELCHAIR
4.5.1. Key market trends
4.5.2. Key growth factors and opportunities
4.5.3. Market size and forecast
4.6.1. Key market trends
4.6.2. Key growth factors and opportunities
4.6.3. Market size and forecast
CHAPTER 5 GLOBAL ELECTRIC WHEELCHAIRS MARKET, BY GEOGRAPHY
5.1.1. Market size and forecast
5.2. NORTH AMERICA
5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast
5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast
126.96.36.199. Rest of Europe
5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast
188.8.131.52. South Korea
184.108.40.206. Rest of Asia-Pacific
5.5.1. Key market trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast
220.127.116.11. Latin America
18.104.22.168. Middle East
CHAPTER 6 COMPANY PROFILES
6.1. DRIVE MEDICAL LTD.
6.1.1. Company overview
6.1.2. Business performance
6.1.3. Operating business segments
6.1.4. Key strategic moves and developments
6.2. INVACARE CORPORATION
6.2.1. Company overview
6.2.2. Business Performance
6.2.3. Operating business segments
6.2.4. Key strategic moves and developments
6.3. GF HEALTH PRODUCTS, INC.
6.3.1. Company overview
6.3.2. Business performance
6.3.3. Operating business segments
6.3.4. Key strategic moves and developments
6.4. KARMAN HEALTHCARE
6.4.1. Company overview
6.4.2. Business performance
6.4.3. Operating business segments
6.4.4. Key strategic moves and developments
6.5. LEVO AG
6.5.1. Company overview
6.5.2. Business performance
6.5.3. Operating business segments
6.5.4. Key strategic moves and developments
6.6. MEYRA GMBH
6.6.1. Company overview
6.6.2. Business performance
6.6.3. Operating business segments
6.6.4. Key strategic moves and developments
6.7. OTTOBOCK HEALTHCARE GMBH
6.7.1. Company overview
6.7.2. Business performance
6.7.3. Operating business segments
6.7.4. Key strategic moves and developments
6.8. PERMOBIL AB
6.8.1. Company overview
6.8.2. Business performance
6.8.3. Operating business segments
6.8.4. Key strategic moves and developments
6.9. PRIDE MOBILITY PRODUCTS CORP.
6.9.1. Company overview
6.9.2. Business performance
6.9.3. Operating business segments
6.9.4. Key strategic moves and developments
6.10. SUNRISE MEDICAL LIMITED
6.10.1. Company overview
6.10.2. Business performance
6.10.3. Operating business segments
6.10.4. Key strategic moves and developments
Electric wheelchairs are power wheelchairs used for mobility of disable persons. These wheelchairs do not require any human assistance for mobility as they are operated on batteries. The market is driven by increase in government funds for medical equipment for the population aged at 60 years and above, rise in incidence of spil disorders, necessity for automated wheelchairs for disabled people, and inclition towards more sophisticated technology. However, high cost of electric wheelchair, lack of awareness and infrastructure in the developing & the underdeveloped countries are the constraints for the market growth.
The global electric wheelchairs market is categorized based on the type of product into front-wheel drive, rear-wheel drive, center wheel drive, standing electric wheelchairs, and others. Centre wheel drive segment generated a higher revenue in 2015, and is expected to domite the market throughout the forecast period, owing to its stability on slopes & uneven terrain, and maneuvering is more intuitive for people with perceptual and cognitive impairment.
The demand for power wheelchairs is growing at a steady pace owing to the introduction of technologically advanced products that are equipped with accessibility and control gadgets. The factors that drives the market growth globally are rise in geriatric population and growth in technological developments in design of power wheelchairs. In addition, rise in disposable income, development of medical facilities, and improvement of economic conditions fuels the market growth. North America domited the market in 2015, in terms of highest demand. The U.S. government provides medical insurance to elderly people over 65 years, which helps them to get medical facilities and equipment at subsidized rates while, the adoption is highest in Asia-Pacific and LAMEA. The electric wheelchair manufacturers are now targeting developing tions, such as India and Chi, as the potential markets, owing to increase in penetration of electric wheelchairs in the global market. However, high cost of electric wheelchairs and lack of infrastructure hinders the market growth.
According to the tiol Institute of Health and Ageing (NIH), the global population of elderly people (aged 65 and above) will rise to 1.6 billion by 2050. The global electric wheelchairs market is fragmented with both small and large players and other small brands and local non-branded products. Invacare Corp., Pride Mobility Products Corp., Sunrise Medical Limited, and Permobil AB are the prominent players in the global electric wheelchairs market.
North America accounted for the highest share in the global electric wheelchairs industry in 2015, and is expected to maintain its domince throughout the forecast period, owing to growth in demand for power wheelchairs and increase in imports in the U.S. Asia-Pacific is anticipated to grow at the highest rate in the near future, owing to increase in urbanization & disposable income, rise in awareness about automated wheelchairs, and presence of high obese & elderly patient population.
Key findings of the Electric Wheelchair Market
The front-wheel drive segment is expected to grow at the highest CAGR of 18.6% from 2016 to 2022.
U.S. accounted for the largest customer base in the North American electric wheelchairs market in 2015, and is anticipated to domite the market throughout the forecast period.
Japan is the major shareholder, accounting for almost one-fourth of the Asia-Pacific electric wheelchairs market in 2015.
The key players profiled in the report are Drive Medical Ltd., GF Health Products, Inc., Invacare Corporation., Karman Healthcare, LEVO AG, MEYRA GmbH, OttoBock Healthcare GmbH, Pride Mobility Products Corp, Permobil AB, and Sunrise Medical Limited. These market players have adopted various strategies, such as product launch, acquisition, collaboration, and partnership, to expand their foothold in the market.
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
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- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
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