Electric WheelChair Market Research Report 2021: Industry Size, Current Trend, Competitive Landscape, Regional and Global Forecast To 2027

 A comprehensive overview of the Electric WheelChair market is recently added by UnivDatos Market Insights to its humongous database. The Electric WheelChair market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Electric WheelChair market. The Electric WheelChair market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Electric WheelChair market at the global and regional levels. Global Electric Wheelchair Market was valued at more than US$ 6 million in 2020 and is anticipated to reach ~US$ 12.5 million by 2027 displaying an elevated CAGR of 10.6% over the forecast period (2021-2027).

Market Overview

The growth of this market is driven owing to increasing geriatric population, rising healthcare investments focused on geriatric population and unmet needs and increasing product launches and approvals. For instance, Market players are focusing on expanding their product portfolio by launching new products in the market, which is expected to augment the market growth over the forecast period. For instance, in May 2021, Quantum Rehab, a global innovator of consumer-inspired complex rehab mobility technologies, launched J4 HD Power Chair offering a 400-pound weight capacity and optional Q4 HD Power Tilt. The J4 HD is engineered for tight-quarter maneuverability and has a narrow base width of 24.25 inches.

Increase in demand for electrical wheelchair has led to requirement for technological advances. This is attributed to the fact that the equipment needs to be more durable and sturdy to bear the weight of obese individuals. In addition, technological advances have led to the development of automated movement systems, which reduce manual interventions of caregivers. The patient can easily adjust the wheelchair seat and the equipment is operated using a remote control or automated controls installed in the wheelchair. Furthermore, artificial intelligence-enabled wheelchair are introduced in the market allowing disabled people to control wheelchair though various facial expressions, including raising eyebrows and sticking out tongues. Therefore, need for technological advances in this equipment to improve comfort and safety is expected to provide lucrative opportunities for the engaged stakeholders in the electric wheelchair industry.

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COVID-19 Impact

The global medical assistance devices industry is impacted profoundly amidst the outbreak of the coronavirus. The outbreak was first witnessed in China resulting in lockdown and ceasing of production activities across the country. The demand for electric wheelchair is expected to slightly taper across the world, owing to supply chain disruptions and implementation of stringent restrictions to follow social distancing & consistent lockdown across the world. Other Asian countries are facing the same predicament. Implementation of stringent lockdown across India, ASEAN, and Australia has resulted in disruption of supply chain and interruption in the production activities.

 Although the COVID-19 pandemic created disturbances across all industries, it positively impacted the electric wheelchair market. The electric wheelchair market witnessed significant growth during the coronavirus outbreak. Many hospitals and health institutes are flooded with people infected with the virus. Thus, the demand for electric wheelchairs increased in 2020. The market is further expected to grow in the forecast period.

Global Electric WheelChair Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Product Type, the market is primarily bifurcated into

·         Center Wheel Drive

·         Front Wheel Drive

·         Rear Wheel Drive

·         Standing Electric Wheelchair

·         Others

Amongst all the products, the center wheel drive segment dominated the global Electric WheelChair market and will grow at X% CAGR to reach USD X million by the year 2027.

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By Age Group, the market is primarily segmented into

·         Pediatric

·         Adult

Based on age group, the market is categorized into adult and pediatric. The adults segment held the largest revenue share in 2020. The segment is projected to continue its dominance over the forecast period. This is mainly due to the increasing elderly population globally, which forms part of the definition for adults. Disability in older people due to arthritis pain, or stiffness in a knee, hip, ankle, or foot increases the demand for electric wheelchairs. According to an article published in The Japan Times in 2019, over 20.0% of the country’s population is over 65 years old, the highest proportion in the world. By 2030, one in every three people will be 65 or older, and one in five people will be 75-plus years old.

The pediatric segment is also expected to grow significantly during the forecast period owing to the growing number of childhood disorders such as cerebral palsy. Cerebral palsy is one of the most common movement disorders that require wheelchairs. According to the Cerebral Palsy Guidance, over 10, 000 babies in the U.S. are born with this disorder each year. It is the most commonly diagnosed childhood motor disability in the U.S. Thus, pediatric segment is expected to be a key revenue generator for electric wheelchair manufacturers in the years to come.

Electric WheelChair Market Geographical Segmentation Includes:

·         North America (United States, Canada and Rest of North America)

·         Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)

·         Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)

·         Rest of the World

Based on the estimation, the North America region dominated the Electric WheelChair market with almost USD X million revenue in 2020. At the same time, Asia Pacific region is anticipated to witness highest growth over the next 5 years on account of increase in number of geriatric population and rise in purchasing power of countries in the region.

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The major players targeting the market includes

·         Invacare Corporation

·         Sunrise Medical (US) LLC

·         Permobil Inc.

·         Pride Mobility Products Corporation

·         Drive Devilbiss Healthcare

·         Hoveround Corporation

·         Ottobock Healthcare

·         21st Century Scientific, Inc.

·         Meyra GmbH

·         LEVO AG

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Electric WheelChair market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Electric WheelChair market?

• Which factors are influencing the Electric WheelChair market over the forecast period?

• What are the global challenges, threats, and risks in the Electric WheelChair market?

• Which factors are propelling and restraining the Electric WheelChair market?

• What are the demanding global regions of the Electric WheelChair market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

Final Report will add the analysis of the impact of COVID-19 on this industry.”

In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

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A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?

·         The market report presents the estimated market size of Electric WheelChair market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.

·         Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.

·         An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.

·         The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.

·         The various parameters accelerating the growth of Market are incorporated in the research report.

·         The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

·         Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

·         The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.

·         The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

·         Based on what factors are the key market players assessed in this report?

·         The report offers detailed analysis of leading companies in the market across the globe.

·         It provides details of the major vendors involved in the Market including Key Playes

·         A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and

·         the manufactured products is incorporated in the report.

·         The facts and figures about market competitors along with standpoints of leading market players are presented in the report.

·         The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

·         Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

·         The report offers the present scenario and future growth prospects Market in various geographical regions.

·         The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.

·         The SWOT analysis is conducted along with Porter's Five Force analysis.

·         The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.