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Electric wheelchair is estimated to witness high growth owing to rising elderly population.

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Omkar Patel
Electric wheelchair is estimated to witness high growth owing to rising elderly population.

Electric wheelchairs are wheeled mobility devices powered by batteries that provide independent transportation option for people with limited mobility or those who cannot walk. They allow users to move independently and comfortably both indoors and outdoors. The benefits of powered wheelchairs over manual ones include increased speed, longer range of travel, programmable settings to suit user's needs, and reduced physical strain. Rising prevalence of mobility disabilities due to injuries, degenerative conditions, accidents, and old age has boosted demand for electric wheelchairs.

The global electric wheelchair market is estimated to be valued at US$ 8.71 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The electric wheelchair market is experiencing high growth due to rising elderly population globally. As per UN Population Fund, the number of people over 60 years will nearly double by 2050 to reach around 2 billion globally. Aging decreases mobility and results in physical frailty, making seniors more prone to injuries and disabilities requiring assistive devices like electric wheelchairs. According to WHO, musculoskeletal conditions are the second most common cause of disability in older population. Growing geriatric population base is thus a key driver augmenting the electric wheelchair industry growth.

Another factor fueling the demand is increasing incidence of mobility impairments arising due to chronic diseases like diabetes, stroke, and arthritis. These diseases and conditions commonly damage nerves and restrict physical movement. For example, people suffering from advanced diabetes often experience impaired sensation and mobility in legs calling for electric wheelchairs over conventional manual versions. Such fast rising prevalence of disabilities and mobility issues will continue promoting adoption of powered wheelchairs.

SWOT Analysis

Strength: Electric wheelchairs are powered by rechargeable batteries, making them more convenient than manually operated wheelchairs for users with limited mobility. The batteries allow users to travel longer distances independently. They also offer controllable speed and maneuverability compared to manual wheelchairs.

Weakness: Electric wheelchairs are more expensive than standard manual wheelchairs. The batteries require regular recharging which can be inconvenient. Faults in the battery or motor systems can potentially leave users stranded if replacements or repairs are not readily available.

Opportunity: As the global population ages, the prevalence of mobility issues is rising. This is expected to drive demand for assistive products like electric wheelchairs. Growing medical infrastructure and availability of affordable models in developing nations also opens new market opportunities.

Threats: Customizability and after-sales services vary significantly between manufacturers. Poor product support can undermine customer satisfaction and brand loyalty over time. Economic slowdowns may temporarily reduce discretionary spending on high-ticket durable medical devices.

Key Takeaways

The global electric wheelchair market is expected to witness high growth over the forecast period of 2024 to 2031. The market size is projected to reach US$ 8.71 billion by 2024, expanding at a CAGR of 11% through 2031.

Regional analysis: North America currently dominates the electric wheelchair market, accounting for over 30% of the global share in 2024. This is attributed to high healthcare spending and the rapid rise in aging populations across the United States and Canada. Asia Pacific is anticipated to be the fastest growing regional market, fueled by growing medical infrastructure, increasing disability rates, and expanding healthcare access in heavily populated countries such as China and India.

Key players: Key players operating in the electric wheelchair market are Invacare Corp, Sunrise Medical LLC, Permobil Corp, Pride Mobility Products Corp, Drive Devilbiss Healthcare, and Ottobock Healthcare. Invacare Corp is a leading manufacturer with a wide product portfolio that includes lightweight electric wheelchairs tailored for indoor and outdoor use. Permobil specializes in customizable specialty wheelchairs for pediatric and bariatric users.

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