According to a report available on Radiant Insights, Inc.; the global electric wheelchair industry is anticipated to gain substantial revenue by 2022. The market is expected to grow at a significant CAGR over the forecast period (from 2016 to 2022). Growing elderly population, incidence of spinal disorders, and supportive government healthcare policies are some of the major market drivers. High demand for wheelchairs for disabled people can further support the growth.
Electric wheelchairs are power mobility devices used to assist persons with physical disabilities or spinal disorders. They are also known as electric-powered wheelchairs (EPW), powerchairs, and motorized wheelchairs. They are also utilized by the consumers that are suffering from fatigue and cardiovascular diseases. The evolution of these devices has led to stair-climbing and standing wheelchairs. Other features added over the years encompass Wi-Fi, Bluetooth, and remote control of other home-owned devices.
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Manufacturers continue to improve their current devices to cater to their target audience of elderly, children, and adults. The U.S. FDA and other regulatory agencies are relaxing their guidelines to allow patients to procure wheelchairs with more ease. Researchers at a Jerusalem hospital have managed to develop a device that can remotely call electric wheelchairs to patient beds. The device dubbed “Chair Call” is expected to aid children and adults with mobility-hampered diseases. However, availability of Rollators, which is a wheelchair alternative, can impede market growth in the forthcoming years.
The worldwide electric wheelchair market is divided on the basis of products, end users, and regions. According to products, the market is trifurcated into center wheel, front wheel, and rear wheel drive electric wheelchairs. Center wheel drive is anticipated to dominate the global market over the forecast period due to its capacity to handle steep and uneven terrain. Front wheel drive is expected to exhibit a robust CAGR due to possessing a better circumference turn drive than center wheel drive.
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On the basis of end users, the segments are homes, hospitals, and others. Hospitals may exhibit a decent CAGR over the forecast period. Hospitals have adopted electric wheelchairs to assist mobility-ridden patients. This can propel the market by 2022. Hornsby Hospital is one of the first hospitals in Australia to adopt these devices to transport patients from wards to medical imaging stations.
Geographically, the market is split into Southeast Asia, Japan, India, China, Europe, and North America. North America is expected to reign over the global market due to constant demand from the U.S. and presence of government policies that offer these devices at lowered rates. India and China are expected to emerge as the destinations for lucrative investments for the major manufacturers. Low penetration can contribute to the regional growth in the years to come. Japan accounted for substantial share of the regional market in 2015.
Read more related reports by Radiant Insights:
- Pediatric Interventional Cardiology Devices Industry- http://www.radiantinsights.com/research/global-pediatric-interventional-cardiology-devices-industry-2017
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Key players in the global market for electric wheelchair are Invacare Corp.; Pride Mobility Products Corp.; Merits Health Products Inc.; Hoveround Corporation; and Drive Medical. Acquisitions and partnerships are the primary business strategies utilized by most companies to increase market share. For instance, in 2014, Drive Medical acquired Medquip Inc. to strengthen its product portfolio. Consumers with HME can benefit from this acquisition to procure wheelchairs and other medical equipment deemed necessary.
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