Global Electric Wheelchairs Market to Reach $5.8 billion by 2027: Allied Market Research
Rise in ageing population, increase in the number of obese people and spine deformities, and surge in incidence of disabilities and accidents drive the growth of the global electric wheelchairs market. The centre wheel drive segment dominated the market in 2019 and would lead the trail throughout the forecast period. Moreover, the market across North America region dominated the market in 2019 and would continue its dominance by 2027.
Portland, OR, Jan. 13, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global electric wheelchairs industry was estimated at $2.9 billion in 2019, and is anticipated to garner $5.8 billion by 2027, with the CAGR of 9.7% from 2021 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Rise in ageing population, increase in the number of obese people and spine deformities, and surge in incidence of disabilities and accidents drive the growth of the global electric wheelchairs market. At the same time, inaccessibility to quality healthcare in developing regions restrains the growth to some extent. Nevertheless, emergence of technologically advanced products and untapped opportunities in developing and under developed economies are anticipated to present an array of opportunities in the industry.
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Covid-19 Scenario-
- Due to the outbreak of covid-19, the market witnessed disruptions in the manufacturing of durable, adjustable and feature-special seats for electric wheelchairs. This in turn, impacted the market growth.
- However, several government bodies are imposing relaxations on the existing regulations which has now aided the market to grapple with the situation.
The electric wheelchair market is segmented on the basis of product type and region. Based on product type, the market is divided into f center wheel drive, front wheel drive, rear wheel drive, standing electric wheelchair, and others.The centre wheel drive segment contributed to nearly two-fifths of the global electric wheelchairs market share in 2019. In addition the segment is expected to maintain its dominance throughout the forecast period. On the other hand, the front wheel drive segment is anticipated to manifest the fastest CAGR of 11.0% throughout the forecast period.
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By region, the market is analyzed across various regions including North America, Europe, LAMEA< and Asia-Pacific. The market across North America dominated with the major market share in 2019, with nearly two-fifths of the global electric wheelchairs market. Furthermore, the region would rule the roost by 2027. At the same time, the Asia-Pacific region is expected to showcase the fastest CAGR of 11.5% from 2021 to 2027.
The key market players in the report include MEYRA GmbH, Matsunaga Manufactory Co., Ltd., Karma Medical Products Co., Ltd., Miki Kogyosho Co. Ltd., OttoBock Healthcare GmbH, Invacare Corporation, Pride Mobility Products Corp, Permobil AB, Sunrise Medical Limited, and Nissin Medical Industries Co., Ltd.
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