Electric Wheelchair Market size was over USD 7.18 billion in 2023 and is anticipated to reach USD 22.54 billion by 2036, growing at around 9.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of electric wheelchair is estimated at USD 7.71 billion. Electric wheelchairs are motorized wheelchairs that work using an electric motor rather than manual work. They are primarily used by the geriatric and differently-abled population globally. The growing number of physically challenged and senior people is estimated to drive the market growth. For instance, in arthritis, joint pain causes reduced leg and lower body movement, leading to locomotion restriction, hence the use of electric wheelchair can help with the movement of people suffering from arthritis. According to the data by the Center of Disease Control and Prevention (CDC), an estimated 54.4 million adults were diagnosed with arthritis, and 23.7 million individuals suffered from physical limitations caused by arthritis. These factors are expected to boost the market. Furthermore, product launches and expansions in emerging markets along with the adoption of new technologies such as artificial intelligence to manufacture self-driving electric wheelchairs is projected to support the growth of the market.
Growth Drivers
Challenges
|
2023 |
|
|
Forecast Year |
2024–2036 |
|
CAGR |
9.2% |
|
Base Year Market Size (2023) |
USD 7.18 billion |
|
Forecast Year Market Size (2036) |
USD 22.54 billion |
|
Regional Scope |
|
The market is segmented on the basis of type into centre wheel drive chair, front wheel drive chair, rear wheel drive chair, and others, out of which, centre wheel drive chair segment is anticipated to grab the largest share by the end of 2021 on account of more advantages of centre wheel chair over other such as, helping in improving postural positioning, the minimalized effort for mobilization, and making users independent to carry out daily activities.
On the basis of end-user, the homecare segment in the electric wheelchair market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the adoption of electric wheel chairs in home applications owing to high usage by disable people and elderly population to bring physical independence at home. Moreover, the home care settings segment is gaining remarkable coverage as many patients are looking for recovery under such setups.
Our in-depth analysis of the global market includes the following segments:
|
Type |
|
|
End-user |
|
The electric wheelchair market is segmented by region into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the North America is estimated to account for largest revenue share by 2036, on the back of better availability of technological support, variety in the product, and high investment capacity and other reasons. Moreover, growing awareness among people about the product and favourable reimbursement policies, along with various other facilities are expected to boost the regional market growth.
The market in the Asia Pacific region is expected to grow with highest CAGR in the forecast period. Market in countries such as India, Japan, and China, display a surge in the demand for electric wheelchair on the back of the increasing geriatric population in the region. As per the data provided by World Data Bank, in Japan, the geriatric population accounts for 28% of the total population, in 2019. Moreover, the vast patient pool of physically disabled people is another factor foreseen to boost the market growth.
December 2020: Phoenix Instinct has developed a lightweight wheelchair with a movable axle position that automatically adjusts the chair's center of gravity to stop overbalancing.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?