Aging Population Growth and Technical Advancements is Escalating the Growth of the Powered Wheelchair market

The older generations are more likely to suffer from mobility impairments as they age, which is expected to raise demand for wheelchairs and accelerate the wheelchair market growth throughout the forecast period. In addition, the rapid increase in the number of spinal cord injuries among the elderly is expected to drive market sales at a significant rate during the projection period. The increased prevalence of walking difficulties across all age groups, as well as the rising frequency of lower extremity injuries, are likely to drive up demand. Furthermore, the government's rising measures to improve the accessibility of modern wheelchairs in low-resource nations are likely to drive market growth throughout the projection period. According to the National Spinal Cord Injury Statistics Center, approximately 17,730 new spinal cord injuries occur in the United States each year, with automobile accidents being the major cause of injury. Also, the United Nations estimate, around 250 million people worldwide are having moderate to severe mobility at the moment.

According to Marketlook Consulting’ research report “Global Powered Wheelchair Market Analysis, 2021”, the Global Powered Wheelchair market is anticipated to grow at a CAGR of 10.6% during 2022-30 The market would reach USD 6.47 Bn by 2029.

Based on Patients, Adult patients acquired a significant market share in 2021. The need for wheelchairs increases among the elderly due to arthritis pain or stiffness in the knee, hip, ankle, or foot. With technology improvements in all industries in recent years, patients have shown an increased acceptance of innovative products for their healthcare. Electric wheelchairs have been around for a long time. Yet, as healthcare infrastructure has improved, access to contemporary and excellent healthcare, the availability of novel products, and higher per capita income have all had a direct impact on the demand for these products. According to one study, almost one-fourth of the older population uses the internet and is familiar with smartphones.

Based on End Users, Home Care acquired a significant market share in 2021. The majority of people with chronic diseases have mobility problems and must stay at home. Choosing home care provides patients with benefits such as enhanced comfort, tailored care, family engagement, and companionship, among others. A home care plan is personalized to the needs of your family rather than the schedules and routines of a care institution. Homecare services can also be tailored to the patient's specific needs, such as a few hours or full-time care.

“Global Powered Wheelchair Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Powered Wheelchair providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

North America Dominated the Market

Based on Leading regions, North America dominated the global Powered Wheelchair market in 2021 and is projected to maintain its dominance during the forecasted period 2022-30 due to the large population, rising adoption of improved wheelchairs, and advanced healthcare infrastructure in the country. Improved access to high-quality healthcare, product diversity, and patient awareness. Some major firms have their headquarters in the United States, which increases the availability of items in this country. Furthermore, about 2.8 million children under the age of 12 need wheelchairs today. As a result, these factors are driving demand for electric wheelchairs in North America and are likely to drive regional market statistics during the forecast period. Also, the presence of a high number of market participants in the region will promote market growth for Powered Wheelchair in the forthcoming period as stated in Marketlook Consulting research report “Global Powered Wheelchair Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global Powered Wheelchair market are Permobil Corp, Pride Mobility, Drive Mechanical, Invacare Corp, Ottoback, Sunrise Medical, GF Health, Karman Healthcare, Hoveround Corp, Levo AG.

Market Segmentation:

• By Product (Front Wheel Drive, Mid Wheel Drive, Rear Wheel Drive)
• By Technology (Standard Powered Wheelchair, Smart Wheelchair)
• By Patient (Pediatric, Adult)
• By Portability (Standalone, Portable)
• By Distribution Channel (Brick & Mortar, E-commerce)
• By End Users (Hospitals, Home Care, Long Term Care Facilities, Rehabilitation Centers)
• By Region (North America, Asia Pacific, Europe, Latin America, Middle East and Africa)
• By Company (Permobil Corp, Pride Mobility, Drive Mechanical, Invacare Corp, Ottoback, Sunrise Medical, GF Health, Karman Healthcare, Hoveround Corp, Levo AG)

Key questions answered in the study:

1. What are the current and future trends of the Powered Wheelchair industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Powered Wheelchair industry?
5. What is the customer orientation, purchase behavior, and expectations from the Powered Wheelchair firms across various regions?