Electric Wheelchair Industry - Regional Synopsis
North America industry is poised to dominate majority revenue share by 2037, 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.
