Powered Wheelchair Market size to exceed $4.4bn by 2030

Powered Wheelchair Market size is set to reach USD 4.4 billion by 2030, according to a new research report by Global Market Insights Inc.
 

The market is expected to grow at a steady pace during the analysis period, owing to the technological advancements in the industry. Latest developments in the design and functionality of electric wheelchair enable this equipment to cater to patients suffering from complex neurological conditions along with the patients that use them for mobility. Rising awareness regarding the capabilities for power wheelchair amongst the patients will drive the business landscape. The growing burden of chronic diseases requiring wheelchair is another key factor contributing to the increased sales of powered wheelchair.
 

Growing geriatric population to fuel the industry progression

Power wheelchair is majorly used by the geriatric population suffering from chronic diseases and mobility disorders. During the recent times, healthcare industry has advanced exponentially offering quality and cost-effective treatment options to its end-users, thereby increasing the life expectancy, and leading to an increased percentage of global geriatric population.
 

Furthermore, the OECD statistics revealed that the percentage of geriatric population in Germany and Italy was 21% and 23%, respectively. Because the ageing population is more susceptible to chronic conditions such as hypertension, cardiac problems, and mobility impairment, demand for electric wheelchair is likely to increase dramatically in the coming years.
 

Mid-wheel drive wheelchair demand influencing the industry development

Powered wheelchair market from mid wheel drive category accounted for 23% business share in 2021 and is predicted to exhibit a CAGR of 6.6% during the analysis period. The mid wheel drive (MWD) wheelchairs are integrated with technology to turn the wheelchair in place, increase indoor movement, and have stability in obstacles. Further, these wheelchairs have the smallest turning diameter as compared to others, which optimizes the user maneuverability and are the most user-friendly, with a quicker learning curve for new electric wheelchair users. Hence, the aforementioned factors will contribute to an increased acceptance of MWD amongst the consumers.
 

Browse key industry insights spread across 250 pages with 385 tables & 24 figures and charts from the report,” Powered Wheelchair Market Analysis By Product (Front Wheel Drive, Mid Wheel Drive, Rear Wheel Drive), Technology (Standard Powered Wheelchair, Smart Wheelchair), Patient (Pediatric, Adult), Portability (Standalone, Portable), Application (Mobility, Neurological Conditions), By Distribution Channel (Brick & Mortar, E-commerce), End-use (Hospitals, Home Care, Long Term Care Facilities, Rehabilitation Centers) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with Table of Contents.
https://www.gminsights.com/industry-analysis/powered-wheelchair-market
 

Standard wheelchair contributing majorly to the motorized wheelchair business growth

Powered wheelchair market from standard segment accounted for 90% revenue share during 2021 and is projected to expand at a CAGR of 6.1% during the analysis period. Standard wheelchairs are available in several variants and are widely used by several patients. The standard electric wheelchair work for the patient instead of them steering the wheelchair, they can be used for longer distances, on all surfaces and terrains, and they can be customized according to personal requirements.
 

Also, the standard wheelchairs can be availed in light weight and ultra-light weight variations to improve transportability and comfort for the end-user. As the electric wheelchair's center of gravity is substantially lower than a manual wheelchair's, it is far less prone to tip over. These products have basic joystick controls and don't have any complicated controls. Several advantages of these wheelchair make them a favorable choice for the patients.
 

Pediatric wheelchairs are set to witness high demand over the analysis period

Powered wheelchair market from pediatric patients segment accounted for over 17% business share in 2021 is anticipated to progress at 7.4% CAGR during the forecast period. The incidence and prevalence of neurological conditions amongst children is driving the market outlook. In a study group of children suffering from cerebral palsy, more than 85% of the subjects required powered wheelchair for day-to-day functionality. Other conditions such as spina bifida, spinal cord injury, acquired brain injury and polio are also seen amongst children and require electric mobility.
 

Cost effective standalone wheelchair boosting the business expansion

Powered wheelchair market from standalone segment surpassed USD 2.2 billion in 2021 and is projected to grow at a CAGR of 6% during the analysis period. Traumatic brain injury (TBI) is one of the most common indications for powered wheelchair usage. Many people that have suffer from a traumatic brain injury lose their ability to walk or position themselves independently and need to utilize a specialized electric wheelchair. Electric chairs with standing, tilting, and reclining capabilities provide superior mobility and posture for improved health and psychological effects. Just as the TBI, there are numerous conditions which require wheelchair adoption and as the burden of debilitating diseases is growing every year will positively influence the demand for powered wheelchair.
 

Increasing incidence of spinal cord injury to propel the powered wheelchair market progression

Neurological conditions segment exceeded USD 177 million in 2021 and is expected to exhibit CAGR during the analysis period. Spinal cord injuries are one of the most common disabilities that need the use of a motorized wheelchair. Quadriplegia refers to the loss of function of the body below the neck, including the arms, legs, and body, although some quadriplegics retain some hand or arm function. Paraplegia also describes the loss of function in the lower extremities, such as the legs and lower body. These wheelchairs can help quadriplegic and paraplegic patients regain movement and independence. Electric wheelchair can avoid injuries to the upper extremities since the patients are strained less while using the wheelchair.
 

Rising awareness of E-commerce in the sales of motorized wheelchair

E-commerce segment accounted for over 30% business share 2021 and is poised to register 6.9% CAGR during the forecast period. E-commerce as a distribution channel has been expanding over the past few years. The COVID-19 pandemic provided a necessary push for this sector to expand exponentially over the last 2 years. Advantages such as contactless payments, COVID friendly fulfilment, ease of access are contributing to the increasing preference towards e-commerce globally. Furthermore, e-commerce in healthcare is revolutionizing the consumer buying behavior of medical devices as well as pharmaceuticals.
 

Increase in number of rehabilitation centers contributing a major share to the powered wheelchair industry

Powered wheelchair market from rehabilitation centers segment crossed USD 747 million in 2021 and is likely to expand at a CAGR of 6.2% during the analysis period. Patients that suffer from major trauma, require long term assistive care, which can be availed at rehabilitation centers. Rehabilitation centers help the patients by understanding their needs and offer various services including electric wheelchair assistance. The rehab clinics are equipped to provide expert opinion from assistive technology professionals, who asses the patients’ needs and help them in mobility, posture, positioning and custom seating for their comfort. The recent statistics state that there are over 43,000 physical rehabilitation centers in the U.S.
 

China is driving the demand for electric wheelchair in the Asia Pacific region

China Powered wheelchair market was valued at around USD 155 million in 2021. The healthcare infrastructure in China is developing at an extremely fast pace along with the pharmaceutical and medical device business. Technological advancements and innovations in the field of motorized wheelchair has led to an increased demand for these products in China.
 

For instance, Airwheel, a mobility equipment manufacturing company, headquartered in Changzhou, China has developed three variants of smart wheelchair and have 52 patents for these wheelchairs and are also approved in some of the European countries. Hence, the aforementioned factors influence the demand for innovative products globally and are anticipated to augment market expansion.
 

Product launch being a go-to strategy for market penetration by the key players

Some of the key market players of the Powered wheelchair market are Airwheel, Permobil, Invacare Corp, Levo AG, and more. These players are engaged in innovative product launches to gain competitive edge over other players to expand their market share globally.
 

In June 2022, Airwheel, a wheelchair manufacturer announced the launch of a smart wheelchair, named H3TS+, which is integrated with air conditioning system for an upgraded comfort to the patients. The company also added adjustable multi-functional seat back that aims at providing additional improvement in the rising experience of the users. The kind of innovation which provides more comfort to the patients will help the company to gain customers and expand their consumer base globally.