The [FURL=https://www.industryarc.com/Report/16307/electric-wheel-chair-market.html]Electric Wheel Chair Market[/FURL] is forecast to reach $4,262.1m by 2025, growing at a CAGR of 12.2% during the forecast period 2019-2025. The growth of the Electric Wheel Chair Market can be attributed to increasing applications of Electric Wheel Chairs in homes, hospitals, rehab centers, sports and athletics, and others. The Electric Wheel Chair market is anticipated to rise with the adoption of new technologies such as AI in the manufacture of self-driving electric wheelchairs for airport passengers, sports, and other applications.Key Takeaways
The Electric Wheel Chair Market is a consolidated market with top 5 players accounting a market share of 65.16% in 2018.
Center Wheel Drive Electric Wheel Chair is the fastest-growing type and has a major share in the market owing to high adoption of these chairs in homes by disabled and old age people.
Geographically, North America holds a major share owing to an increase in the advanced medical care facilities and healthcare expenditure
Adoption of electric wheelchairs by patients suffering from spinal cord injury, physical disability people, and elderly population is set to drive the electric wheelchairs market.
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Electric Wheel Chair Market Segment Analysis - By Geography
North America holds major (32%) share in Electric Wheel Chair Market and the usage of Electric wheel chairs has been increasing in hospitals and homes owing to a rise in advanced healthcare facilities. According to World Bank statistics, the North America elderly population of age 65 has increased from 54.54 million in 2016 to 58.12 million in 2018. As per a survey conducted by Centers for Disease control and prevention in U.S., it was found that in 2018, about 61 million adults (26%) of United States live with some kind of disability, out of which 13.7% have serious mobility issues and 10.8% have serious neural and spinal cord issues. As per Canadian Survey on Disability, 2017, one out of five Canadian (which accounts for about 6.2 million) aged between 15-17 years suffer with one or more disabilities, out of which about 13% have severe mobility disorder.
Electric Wheel Chair Market Drivers
Enhancements in Technological Advancements
Growing Demand for Advanced Electric Wheel Chairs from the Sports Industry
Market Landscape: Major players in the Electric Wheel Chair Market include Invacare Corp, Sunrise Medical Corp, Drive DeVilbiss Healthcare, Hoveround Corp, and Permobil AB among others. Acquisitions of the companies and product development are the key strategies of the players in the Electric Wheel Chair market.
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