Electric Wheelchair Market Overview 2020: By Applications- Hospitals, Family expenses
Global electric wheelchair market was valued at USD 1.23 billion in 2013, growing at a CAGR of 19.2% from 2014 to 2020. Electric wheelchairs are the battery powered wheelchairs which reduce the user’s dependence on any external human assistance for movement. They are electricity powered and are equipped with multiple functionalities such as controlling Wi-Fi and Bluetooth operated gadgets and operating smart appliances in a house among others. With technological advancement in several developed and developing countries globally, mobility solutions are evolving continuously. Electric wheelchairs utilize high end digital technology for providing better performance and efficiency to the users.
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The global electric wheelchair market is segmented by region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). This market is primarily driven by growing elderly population and need for effective solutions in various indoor and outdoor applications. High degree of technological advancements in developed and developing countries such as the U.S., the U.K., France, Germany, China, Japan, South Korea is also contributing to the growth of electric wheelchair market globally.
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Geographically, North America led the electric wheelchair market in 2014 and the region is expected to continue its dominance throughout the forecast period. The region’s dominance is due to advancement in technology in countries such as the U.S. and Canada. Moreover, consumer awareness and affinity towards new technology is further contributing to the growth of the electric wheelchair market in North America. Europe and Asia Pacific followed North America in the global electric wheelchair market to collectively account for more than forty percent of the global market revenue share.
The electric wheelchair market is segmented on the basis of product types into front wheel drive, center wheel drive, rear wheel drive, standing and others. Among all, independent mobility solutions with modern technological functionalities for regular indoor and outdoor activities are the primary objective for the electric wheelchair manufacturers.
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Front wheel drive segment is analyzed to be the second fastest growing electric wheelchair segment after center wheel drive electric wheelchairs and are expected to attain a significant growth in the coming years.
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