USD 1.42 bn Growth in Electric Wheelchairs Market |Growing Demand for Rehabilitation Centers to upheave Growth| Technavio

NEW YORK, Feb. 8, 2022 -- The electric wheelchairs market size potential difference will grow by USD 1.42 billion, according to the latest market analysis report by Technavio. The report also identifies the market to witness an accelerating growth momentum at a CAGR of 10.79% from 2020 to 2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

For more information on YOY growth and other analysis, Read our Sample Report

Electric Wheelchairs Market 2021-2025: Driver and Challenge Analysis

An increasing number of orthopedic and neurologic disorders is one of the key factors influencing the market growth positively in the recent years. There has been a considerable spike in the number of chronic orthopedic conditions including rheumatoid arthritis and knee problems. In addition, there are increasing instances of medical emergencies, long-term and short-term disabilities, and surgical operations, which require patients to be moved from one place to another without any assistance from others. This has created the need for electric wheelchairs in the recent times. Also, with the rise of such conditions during and post-pandemic, the requirement for these wheelchairs is likely to grow considerably, creating a positive influence on the market.

The high cost of electric wheelchairs is one of the key factors likely to hinder the market's growth during the next few years. The adoption of wheelchairs and the growth of the market is likely to impede due to the increase in the total cost of manufacturing due to the addition of new features and technological advances. The high cost of electric wheelchairs will make optimum market penetration difficult for the key vendors as price-sensitive consumers will opt for other mobility aids such as manual wheelchairs, medical walkers, and rollators. Furthermore, the government does not provide any subsidy to the consumers for these products, which may hinder the adoption of electric wheelchairs.

View Market Outlook for more information on other factors influencing the market

Electric Wheelchairs Market 2021-2025: Segmentation

• Product
• Dry-battery Electric Wheelchairs
• Wet-battery Electric Wheelchairs
• Geography
• North America
• Europe
• Asia
• ROW

The electric wheelchairs market share growth by the dry-battery electric wheelchairs segment will be significant during the forecast period. The growth is attributed to the high demand for dry-battery electric wheelchairs as they work without spilling due to the absence of free fluid. In terms of Geography, North America will account for 46% of the market's growth during the forecast period. The US and Canada are the key markets for electric wheelchairs in North America. Market growth in this region will be faster than the growth of the market in Europe, Asia, and ROW. The growth of this region can be attributed to the rise in the aging population and the high incidence of arthritis and brain stroke (that causes severe long-term disability).

Get Report Sample Right Here to retrieve additional information on the key segment contribution

Electric Wheelchairs Market 2021-2025: Scope and Vendor Analysis

The report also covers the following areas:

• Electric Wheelchairs Market size
• Electric Wheelchairs Market trends
• Electric Wheelchairs Market industry analysis

The electric wheelchairs market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the electric wheelchairs market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support. Some of the major vendors of the electric wheelchairs market include CE Mobility, ComfyGO Inc., Drive DeVilbiss Healthcare, EZ Lite Cruiser, Invacare Corp., MEYRA GmbH, Permobil AB, Pride Mobility Products Corp., Roma Medical, and Sunrise Medical LLC. 

To know more about vendor share and their latest strategic moves in a customized report, Speak to our Analyst!

Electric Wheelchairs Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist electric wheelchairs market growth during the next five years
• Estimation of the electric wheelchairs market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the electric wheelchairs market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of electric wheelchairs market vendors

Related Reports:

Powered Wheelchairs Market - Forecast and Analysis 2022-2026

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio