Published Date : 08 May 2024
The global electric wheelchair market size reached USD 7.08 billion in 2023 and is projected to hit around USD 17.22 billion by 2033 with a notable CAGR of 9.32% from 2024 to 2033. The advantages and profitable offers which are provided by the government help to enhance the growth of the electric wheelchair market.
The electric wheelchair market deals with selling and buying electric wheelchairs. Electric wheelchairs are assistive devices that are generated by electric motors and are accurately engineered to facilitate the automatic movement of individuals who have limited movability. This electric wheelchair reduces manual activity and does not require any human assistance. The upsurge in the cases of cardiovascular diseases, increasing demand for electric wheelchairs for disabled people, and increasing geriatric population is expected to drive the growth of the market. In addition, the increasing incidents of accidents, the rising need for automated wheelchairs from the sports industry, and the increasing disposable income of people from developed countries are further expected to drive the growth and demand for the electric wheelchair market.
Increasing geriatric population and disability to fuel the market growth and demand
There is increasing demand for mobility devices, including electric wheelchairs, due to the rising geriatric population and disabilities over the globe. Electric wheelchairs provide individual independence and enhanced mobility, permitting over-aged people to maintain an active lifestyle. The number of overaged people is growing rapidly across the world. Increasing geriatric people with cardiovascular diseases, co-morbidities, chronic diseases, and various disabilities is expected to boost the demand for electric wheelchairs. In addition, the rising prevalence of disabilities such as multiple sclerosis, muscular dystrophy, and spinal cord injuries are significant factors in the disabilities. These disabilities resulted in the need for mobility devices so that individuals could move comfortably. Electric wheelchairs offer an efficient and convenient mode of transport for individuals with disabilities. These are the major factors anticipated to drive the demand for the electric wheelchair market.
However, the high cost of electric wheelchairs and limited reimbursement policies may restrain the growth of the market. Due to the advanced technologies, components, and materials, electric wheelchairs are more expensive than manual wheelchairs. The cost can be a major challenge, especially in countries with limited healthcare awareness and for people with insufficient financial resources. In addition, in some countries, the refund policies for electric wheelchairs may not fully cover the cost or may be limited. So, common people cannot afford these mobility devices. Therefore, these factors are responsible for restraining the growth of the electric wheelchair market.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 7.08 Billion |
| Projected Forecast Revenue by 2033 | USD 17.22 Billion |
| Growth Rate from 2024 to 2033 | CAGR of 9.32% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
The Asia Pacific region is expected to grow fastest in the forecast period. The rapid developments and advancements, increasing disposable income, and growing geriatric population are expected to the growth of the market in Asia Pacific. India, China, Japan, and South Korea are the major developing countries in the Asia Pacific region.
China has the major market in electric wheelchairs due to the increasing geriatric population and increasing disability incidents in China. Chinese manufacturers produce various types of wheelchairs, including lightweight wheelchairs, compact folding wheelchairs, lightweight brushless, traveling wheelchairs, portable electric power wheelchairs, pediatric electric wheelchairs, and wheelchairs with electromagnetic brakes. In China, there are various successful manufacturers of electric wheelchairs, such as medical rehabilitation equipment wheelchairs, MOW 10PCS remote control wireless electric wheelchairs, lightweight floodable wheelchairs, and new electric transit wheelchairs. These electric wheelchairs offer so many advanced features such as storing all kinds of car boots, power-efficient batteries, smart options for safe mobility, comfortable configuration, waterproof, easy control, comfortable design, low noise, free of maintenance, power-saving motors, Bluetooth music and reversing reminder. These factors and developed manufacturers affect the positive impact of the electric wheelchair market in China.
North America dominated the electric wheelchair market in 2023. The rising geriatric population, advanced healthcare facilities, increasing number of old age homes, increasing incidents of disability, and government initiatives to invest in the development of electric wheelchairs are expected to drive the growth of the market. The U.S. and Canada are the emerging countries in the North America region.
The U.S. is the most trustable country in the sale of electric wheelchairs. The U.S. has well-authorized manufacturing brands in wheelchairs. There are various leading electric wheelchair manufacturing companies, such as Invacare Corporation, Carex Health Brands, Karman Healthcare Inc., Drive DeVilbiss Healthcare, Graham-Field Health Products Inc., Sunrise Medical, and Quantum Rehab. Invacare Corporation is an American manufacturer that provides mobility medical devices, including walkers and wheelchairs. Carex Health Brands is a US-based healthcare equipment manufacturer that offers mobility devices like wheelchairs, personal care products, and bath safety. Karman Healthcare is also a US-based medical mobility manufacturing company and offers electric, lightweight, manual, ultralight, and standing wheelchairs. Graham-Field Health Products Inc. Is a US-based medical products company that offers reclining, specialty, and transportive wheelchairs. These are the major manufacturing companies in the U.S. and are responsible for the growth of the electric wheelchair market in the North American region.
Advancing Technological Innovations
Due to the continuous developments of technology, electric wheelchairs are significantly incorporating improved features and gaining sophistication that improves the overall consumer experience. Cutting-edge technologies, artificial intelligence, intelligent sensors, and control systems have significant capabilities that can transform the electric wheelchair platform. These technological advancements are attributed to the development of adaptable and user-friendly electric wheelchairs. Artificial intelligence technology helps enhance safety and efficiency and avoid obstacles. Intelligent sensors can enhance the consumer’s precision in wheelchair control. In addition, connectivity functionalities help consumers to engage with wheelchairs by operating remotely, showing battery status, and using mobile applications. These are the major opportunities that are anticipated to drive the growth of the electric wheelchair market in the coming future.
Segments covered in the report
By Product
By End Users
By Age Group
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