Global Electric Wheel Chairs Market Worth USD 7,014 Million With At A CAGR Of 9.85%

(MENAFN- Straits Research) Introduction

Wheelchairs enable the user and their carer greater independence and mobility, enabling them to engage in daily activities despite having limited mobility. The electric wheelchair is a mechanical wheelchair with wheels and batteries that provide the necessary power to push the wheelchair with less effort. These chairs can move independently without assistance from a person. Both electric and ordinary wheelchairs allow the user to move around independently and carry out daily chores.

An electric wheelchair encourages increased independence because of its ease of use and capacity to go around without becoming tired. Compared to manual wheelchairs, electric wheelchairs have a lower center of gravity. It means the likelihood of tipping over is substantially lower than in a manual chair. Users can also utilize brakes to stop unintended rolling. Moving across challenging terrain is also made simpler.

Market Dynamics Growing Geriatric Population and Incidence of Spinal Deformities Foster the Global Electric Wheelchairs Market

Among the primary elements driving the expansion of electric wheelchairs is the growing demand among the elderly. Among people over 50, these electric wheelchairs are rising in popularity. According to a UN prediction, the world's aging population is anticipated to grow during the projected period. The elderly are more prone to mishaps from falls and frailty. According to UN predictions, 9.0% of the world's population will be 65 years of age or older in 2019. According to a study undertaken by the US Census Bureau, 17% of the world's population will be classified as elderly by 2050.

The alarming senior population is expected to increase the need for electric wheelchairs in hospitals and nursing homes. According to data supplied by the World Health Organization, the percentage of persons 65 and older in the global population will double from 7% in 2000 to 16% in 2050. By that time, the rate of seniors will be more than children. In light of this, an increase in the elderly population would create new prospects for using electric wheelchairs globally.

Additionally, spinal stenosis is the most common disease affecting men and women over 50. Disorders affecting the spinal cord arise due to age-related changes in the spine's structure, such as disc degeneration and improper growth of the spinal bones and joints. Additionally, it is projected that between 2019 and 2100, the proportion of EU-27 citizens who are 80 or older would double, rising from 5.8% to 14.6%. Due to the rising geriatric population, the market is booming. This is because older people are more prone to develop spinal issues, which is anticipated to positively impact the demand for electric wheelchairs globally.

The ever-increasing consumer demand for electric wheelchairs has compelled the development of new technological capabilities. The equipment needs to be more durable and sturdier to support the weight of obese people. In addition, less manual caring is required, given that automatic mobility systems have been developed because of technological breakthroughs. The patient can easily change the wheelchair seat, and the device is managed by remote or automated wheelchair controls.

Furthermore, wheelchairs with artificial intelligence capabilities are becoming commercially available. These chairs let people with impairments control them by making different facial expressions like raising their eyebrows and sticking out their tongues. The necessity for technological developments in this equipment to promote comfort and safety is therefore projected to have a positive economic impact on market participants.

Regional Insights

North America will command the leading market position, expanding at a CAGR of 8.75% during the forecast period. The demand for electric wheelchairs has skyrocketed in this region due to a rise in the population of seniors. Several companies that manufacture electric wheelchairs also have their corporate headquarters here. North America has seen a significant increase in revenue due to the continued acceptance of technologically advanced goods. The premiumization of electric wheelchairs has increased the adoption of power wheelchairs, which has fueled the market growth. The market is also driven by the rise in indoor and outdoor use of electric wheelchairs in the region. The baby boomer generation's need for wheelchairs is projected to drive up demand. In addition, it is predicted that 98% of public transit buses in the United States will have wheelchair-accessible ramps in the upcoming years. As a result, market growth in the area is fueled by the availability of supporting infrastructure and product improvement.

Asia-Pacific will likely grow at a CAGR of 11.7% and hold USD 2,302 million by 2030. The healthcare industry is growing significantly in China. For the usage of electric wheelchairs in public spaces, the Chinese government is spending a lot of money. Furthermore, according to data made available by the UN, South Korea will have one of the oldest populations in the world by 2050, with the percentage of people 60 and older rising from 18.5% in 2015 to 31.4% in 2030 and 41.5% in 2050. The need for electric wheelchairs will consequently grow across the country. Additionally, the Asia-Pacific Development Center on Disability (APCD), working with the governments of Thailand and Japan, aims to empower and build a society devoid of barriers for those with disabilities by offering necessary resources at a low or no cost, significantly helps the market grow.

Key Highlights

• The global electric wheelchairs market had a revenue holding of USD 3,308 million in 2021. It is expected to reach USD 7,014 million by 2030, growing at a CAGR of 9.85% during the forecast period (2022–2030).
• Product-wise, the global electric wheelchairs market includes Center Wheel Drive, Front Wheel Drive, Rear Wheel Drive, Standing Electric Wheelchairs, and Others. The Center Wheel Drive section is projected to advance at a CAGR of 10.87% and hold the largest market share over the forecast period.
• Type-wise, the global electric wheelchairs market includes Adult Wheelchairs and Pediatric Wheelchairs. The Adult Wheelchair section is projected to advance significantly and hold the largest market share over the forecast period.
• Region-wise, the global electric wheelchairs market includes North America, Europe, Asia-Pacific, and LAMEA. North America surpasses other regions.