Electric Wheel Chair Market - Forecast (2020 - 2025)
As per the International Journal of multidisciplinary sciences and engineering organization publications, the number of people who are in need of Wheelchair is estimated to increase by over 22% during the next decade owing to the rise in the number of the population over 65 years and increasing number of spine injuries during vehicle accidents. The global electric wheelchair market is estimated to grow at CAGR 13.4% from $4,291.78 million in 2017 owing to the rise in the ageing population who are in need of these mobility devices.
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What are Electric Wheel Chairs?
Electric wheelchairs, often called as power chairs or motorized wheelchairs, which can be utilized by disabled and senior citizens. These wheel chairs do not require any human assistance for mobility since they are operated by battery. The most obvious advantage of an electric wheelchair is that it is user friendly and convenient and very useful for those unable to use a manual wheelchair or those who may want to use a wheelchair for travelling longer distances, and in such a case, using a manual wheelchair is very difficult. These wheelchairs are not only used by the people with impairments, but also by those having cardiovascular and asthma based conditions.
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What are the major applications for Electric Wheel Chair?
The applications of electric wheelchairs include Hospitals (patient transfer, upper and lower body positioning, and pelvic positioning) Rehab Centers, Sports and Athletics (Motocross racing, Basketball, Rugby, Lawn Tennis) and Home (Manual mobility, Powered mobility and Corpus seating) and many more.
Market Research and Market Trends of Electric Wheel Chair Market
The Motocross racing is quite a commercial sport in the disabled community. The athletes adapt Bicycle Motocross X (BMX) tricks and do a variety of high-performance level stunts using electric wheelchairs. The BMX sports wheelchair was designed as a first model and is being developed particularly for BMX like wheelchair activities. The design varies from the standard wheelchair in lot of ways including the multi-link suspension, placement of the front casters and close placement of handlebars. The frame of the wheelchair is made from round tubing and maintains rigidity through straight lines. Similar to a mountain bike, it also has a multi-link suspension, with dual coil-over shocks. All these modifications allow the athlete to achieve their best in the sport.
The company Foldawheel has recently introduced a power wheelchair called Pegasus II which is lightest in weight and allows you to easily practice stand up or sit down by power control function and roll manually. The up or down position is controlled by a small controller at the tip of the armrest. This wheelchair is suitable for people having one workable hand or limb. The users health is greatly improved by frequently stand up and stand down activity. It serves as a physiotherapy equipment for hospitals, home or rehab centers.
Who are the Major Players in Electric Wheel Chair Market?
The companies referred to in the market research report includes Invacare Corporation, OttoBock Healthcare GmbH, Permobil AB, Pride Mobility Products Corporation, Sunrise Medical Inc. and more than 25 companies.
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The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2020 - 2025.
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Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
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- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
