Powered Wheelchair Market worth USD 4.4 billion by 2030, says Global Market Insights Inc.

Some of the key players operating in the powered wheelchair industry are Permobil, Invacare Corporation, Pride Mobility Products, and Airwheel

SELBYVILLE, Del., June 22, 2022 /PRNewswire/ -- The powered wheelchair market value is projected to cross USD 4.4 billion by 2030, according to a new research report by Global Market Insights Inc. Innovative powered wheelchair products and increase in prevalence of musculoskeletal disorders will augment the market expansion.

Patients that suffer from chronic mobility issues and severe motor disabilities widely employ powered wheelchair for their daily functionality. Increased healthcare facilities and quality of healthcare has led to an increased life expectancy of the population. There has been an overall increase in the proportion of geriatric population over the past few years. Elderly population is more likely to use powered wheelchair for their daily functionality. Furthermore, electric wheelchair can be used indoors as well as outdoors, which gives an added advantage to the end-users.

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The COVID-19 pandemic had a negative impact on the powered wheelchair market. Due to the supply chain disruptions as well as shifted focus towards essential medical devices production, the powered wheelchair production was not prioritized during the peak of the pandemic. Furthermore, scarcity of electric components required for the manufacturing of motorized wheelchairs also contributed negatively to the market demand.

Some major findings of the powered wheelchair market report include:

• Increased awareness regarding the usefulness of powered wheelchair in assisting patients.
• Growing burden of chronic ailments, neurological conditions and diseases requiring constant assistance, globally.
• Competitors are focusing on product innovation and launches to garner considerable market share and improve their market position.
• Some key players of this industry are Ottobock, Permobil, Invacare Corporation, Meyra Gmbh.

Browse key industry insights spread across 250 pages with 385 tables & 24 figures and charts from the report," Powered Wheelchair Market Analysis By Product (Front Wheel Drive, Mid Wheel Drive, Rear Wheel Drive), Technology (Standard Powered Wheelchair, Smart Wheelchair), Patient (Pediatric, Adult), Portability (Standalone, Portable), Application (Mobility, Neurological Conditions), By Distribution Channel (Brick & Mortar, E-commerce), End-use (Hospitals, Home Care, Long Term Care Facilities, Rehabilitation Centers) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030" in detail along with Table of Contents.

https://www.gminsights.com/industry-analysis/powered-wheelchair-market 

The front wheel drive (FWD) segment exceeded USD 300 million in 2021. The FWD provides stability over an obstacle, smoother transition, can also be used in front of counters, sinks, and can be even used on uneven terrains and small hills. Hence, owing to the several advantages of the FWD, the sales of this segment are anticipated to reach USD 500 million by 2030.

Powered wheelchair market from smart wheelchair segment was valued at over USD 160 million in 2021 and is set to witness 8.1% CAGR during the analysis period. Smart wheelchairs are a boon to the people suffering from neurological conditions such as dementia, severe motor disability, spinal cord injuries, brain injuries. Smart wheelchairs extend the capabilities of traditional powered devices by introducing control and navigational intelligence. These products are integrated with sensors, cameras, etc. for range of applications to provide additional support to the disabled.

Adult patients segment accounted for 80% revenue share in 2021 and is projected to register 6% CAGR during the analysis period. Adult patients are more equipped to handle the complexities of a powered wheelchair. Amputations is a key factor contributing to the use of powered wheelchair amongst adults. Powered wheelchair provides the amputees with an essential assistive technology for independence, functionality as well as mobility. Specialized electric wheelchairs are specifically designed to endorse confidence, as well as promote health and movement amongst individuals with disabilities caused by amputations.

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Germany powered wheelchair market surpassed USD 150 million in 2021 and is set to register a significant CAGR through 2030. This is due to the presence of key players of this industry in the country. For instance, Ottobock is a medical device company operating in the field of orthopedic technology, which is headquartered in Duderstadt, Germany. Universal health coverage, advanced healthcare, developed healthcare infrastructure add to the reasons for Germany contributing a higher share in the European market.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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