Electric Wheelchair Market Share, Development, Trends and Forecast 2030

The global electric wheelchair market is set to achieve remarkable growth over the forecast period from 2023 to 2030, with a projected Compound Annual Growth Rate (CAGR) of 10%. According to market analysis, the market valuation is expected to soar to US$7.5 billion by the end of 2030. A comprehensive study of the electric wheelchair market has uncovered key findings and trends driving this growth.

Rising Burden of Disabilities Spurs Demand The increasing prevalence of neurological disorders and the growing senior population, which is more susceptible to orthopedic ailments, are major factors fueling the expansion of the electric wheelchair market. According to the World Health Organization, approximately 1.3 billion people worldwide, or 16% of the population, experience significant disabilities, leading to a rising demand for electric wheelchairs.

Increasing Life Expectancy Boosts Market The global population of elderly individuals is on the rise, with estimates indicating that the number of people aged 60 and over will reach 1.4 billion by 2030. This aging demographic, often dealing with comorbid conditions and chronic illnesses, is a key driver of electric wheelchair demand. Manufacturers are releasing innovative products to cater to this growing market.

Challenges in Pricing While the demand for electric wheelchairs is on the upswing, the high price point remains a challenge, especially in developing nations where healthcare expenditures are lower. The wide range of electric wheelchair models, from lightweight to bariatric, contributes to pricing variations. Additional costs for maintenance, battery upkeep, and servicing can also pose challenges for users.

Key Segments: Mid-Wheel Drive Dominates The mid/centre-wheel drive type dominates the electric wheelchair segment due to its small turning radius, ease of maneuverability in tight spaces, and improved stability. Front-wheel drive, with its power efficiency and lower seat-to-floor height, is the fastest-growing type.

Hospitals and Personal Segment Offer Growth Opportunities Hospitals play a significant role in the electric wheelchair market as they are often the first to recommend wheelchairs following accidents or disabilities. The personal segment is also expected to grow, with individuals opting for home care services, enjoying the benefits of comfort, individualized care, and family involvement.

Regional Insights: North America Leads, Asia Pacific Grows Stronger North America leads the market, thanks to its developed healthcare system and a high number of wheelchair users. Asia Pacific is expected to experience the fastest growth, driven by a burgeoning population, expanding medical facilities, and government initiatives to provide advanced mobility equipment.

Competitive Landscape Leading players in the electric wheelchair market include Sunrise Medical Limited, Invacare Corporation, Permobil AB, OttoBock Healthcare, Pride Mobility Products Corp., Drive Medical Ltd, LEVO Ag, MEYRA GmbH, Karman Healthcare, GF Health Products, and Golden Technologies.

Global Electric Wheelchair Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Type Coverage, By End User Coverage, By Geographic Coverage and By Company):
https://www.fairfieldmarketresearch.com/report/electric-wheelchair-market

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Electric Wheelchair Market:

https://www.linkedin.com/pulse/electric-wheelchair-market-trends-size-analysis-forecast-rajawat-snvef

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