Seattle, WA -- (SBWIRE) -- 11/06/2019 -- Growing prevalence of physical disability worldwide is expected to increase demand for mobility solutions such as wheelchairs, which is expected to drive growth of the global electric wheelchair market. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2017, there were around 38.2 million adults with physical functioning difficulty and accounted for 15.5% of total global disability. Moreover, increasing number of road accidents resulting in permanent disability, is expected to drive the global electrical wheelchair market growth. According to Association for Safe International Road Travel, around 1.25 million people die in road crashes each year globally, of which 20 to 50 million are injured or disabled.
electric wheelchair or motorized wheelchair is a wheelchair that is driven by means of an electric motor instead of manual power. Electric wheelchairs are typically used for people with physical disabilities or those who may need to use wheelchair for distance which would tiring with manual wheelchair. Electric wheelchairs is also used by people with cardiovascular issues or fatigue-based conditions.
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The Global Electric Wheelchair Market was valued at US$ 2,911.5 Mn in 2018, and is expected to witness a CAGR of 17.1% during the forecast period (2018 – 2026).
Key players in the market are developing pediatric powered wheelchairs, which is expected to drive growth of the pediatric segment of the global electric wheelchair market.
For instance, in January 2015, Sunrise Medical (U.S.) LLC launched new Zippie ZM-310 pediatric power wheelchair featuring the smallest mid-wheel-drive base. The product was revised and updated as per the ANSI/RESNA standards.
Moreover, in 2014, Invacare Corporation introduced a new Invacare Fox electric wheelchair. It is designed to enable adult users to maximize independence in everyday life. Fox electric wheelchair provides considerable maneuverability indoors, and traction outdoors.
However, lack awareness regarding electric wheelchairs and high cost of these products is expected to restrain the global electric wheelchair market growth. For instance, the price of Heartway P13 Vision power wheelchair developed by EV RIDER LLC is US$ 3,699.00, which is unaffordable for people with average income.
Regional segmentation of the global electric wheelchair market comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
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Among regions, North America is expected to witness significant growth in the electric wheelchair market during the forecast period. This growth is attributed to initiatives by market players to establish their product portfolio in North American countries. For instance, in August 2018, Sunrise Medical LLC acquired Magic Mobility, a manufacturer of powered wheelchairs. With this acquisition, Sunrise Medical LLC aims to include powered wheelchairs in their product portfolio.
Moreover, Europe is expected to register lucrative growth in the electric wheelchair market, owing to growing population of physically-challenged people in the region. For instance, according to the Family Resources Survey, 2016-17, there were 13.9 million physically-challenged people in the U.K., out of which children accounted for 8% and working age adults and pension age adults accounted for 19% and 45%, respectively.
Key players operating in the global electric wheelchair market include Invacare Corporation Sunrise Medical, Permobil, Pride Mobility Products Corporation, Drive Devilbiss Healthcare, Hoveround Corporation, Ottobock Healthcare, 21st Century Scientific, Inc., Meyra GmbH, LEVO AG, and Merits Co. Ltd.
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