The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Remarkable Market Expansion

• Current Growth: The electric wheelchair market has seen rapid expansion, growing from $4.86 billion in 2023 to an anticipated $5.58 billion in 2024, reflecting a robust compound annual growth rate (CAGR) of 14.9%.
• Historic Drivers: Key factors contributing to this growth include:
  • Increased orthopedic surgeries.
  • Rising incidences of obesity.
  • Rapidly growing geriatric population.
  • Regulations promoting disabled-friendly environments.

Promising Future Prospects

• Future Projections: The market is expected to continue its impressive growth, reaching $8.8 billion by 2028, with a CAGR of 12.1%.
• Forecasted Growth Drivers: This projected growth is driven by:
  • Government initiatives promoting accessibility.
  • Rising demand for electric mobility devices among people with disabilities.
  • Improvements in healthcare infrastructure.
  • Increased healthcare expenditure.

View More On The Electric Wheelchair Market Report 2024 – https://www.thebusinessresearchcompany.com/report/electric-wheelchair-global-market-report

• Emerging Trends:
  • Launch of smart wheelchairs.
  • Development of next-generation rear-wheelchairs.
  • Introduction of venerable e-motion power-assist systems.
  • Creation of lightweight electric wheelchairs.
  • Technological advancements and strategic partnerships.

Spinal Deformities Boost Market Demand

• Impact of Spinal Issues: The rising incidence of spinal deformities significantly drives the electric wheelchair market.
  • Spinal Deformity Statistics: According to Columbia University Irving Medical Center, scoliosis affects 2% to 3% of Americans, approximately 6 to 9 million people in 2021.
  • Mobility Solutions: For many with severe scoliosis, wheelchairs are essential for mobility and comfort, contributing to market growth.

Leading Companies in the Market

• Key Players: Major companies in the electric wheelchair market include:
  • Invacare Corporation
  • Sunrise Medical Limited
  • Pride Mobility Products Corp
  • Permobil AB
  • Ottobock SE & Co. KGaA
  • Golden Technologies
  • Drive Medical Ltd.
  • Hoveround Corporation
  • GF Health Products
  • Karman Healthcare
  • Ostrich Mobility
  • And many others.

Innovation Through Technological Advancements

• Product Launches: Technological advancements are driving innovation in the electric wheelchair market, leading to new product launches.
  • Invacare’s AVIVA STORM RX: In February 2021, Invacare Corporation launched the AVIVA STORM RX power wheelchair, featuring advanced technology, design, and performance. This forward rear-wheel drive power wheelchair is designed for both outdoor travel and indoor mobility without assistance.

Strategic Acquisitions Expand Market Reach

• Etac’s Acquisition of Ki Mobility: In October 2021, Etac, a UK-based ergonomic assistive devices provider, acquired Ki Mobility. This acquisition allows Etac to offer a broader range of products, including complex manual rehab wheelchairs, seating, and pediatric assistive devices.

Market Segmentation

• By Product Type:
  • Center Wheel Drive Electric Wheelchair
  • Front Wheel Drive Electric Wheelchair
  • Rear Wheel Drive Electric Wheelchair
  • Standing Electric Wheelchair
  • Other Products
• By Category:
  • Adults
  • Pediatric
• By Application:
  • Homecare
  • Hospitals
  • Ambulatory Surgical Centers
  • Rehabilitation Centers
  • Other Applications

Regional Insights

• North America: The largest market for electric wheelchairs in 2023.
• Asia-Pacific: Expected to be the fastest-growing region during the forecast period.

The electric wheelchair market is on a trajectory of rapid growth, driven by technological advancements, increasing healthcare needs, and strategic industry movements. As the market evolves, it will continue to play a crucial role in enhancing mobility and improving the quality of life for millions of people worldwide.

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