Global Electric Wheelchair Industry was valued at USD 2 Billion in the year 2017. Global Electric Wheelchair Industry is further estimated to grow at a CAGR of 17.95% from 2019 to reach USD 7.50 Billion by the year 2025.
Major market players in the Electric Wheelchair Industry are Drive Medical Ltd., Invacare Corp, Levo AG, GF Health Products Inc., Karman Healthcare, Meyra GMBH, Sunrise Medical ltd, Ottobock Healthcare GMBH, Permobil AB, Pride Mobility Products Corp., and brief overview of 10 companies is also provided in the report. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.
In the global fitness tracker Industry by region, North America region holds the highest Industry share in 2017 and Asia Pacific region is considered as the fastest growing Industry in the forecasted period due to strongly growing awareness and rising old age population. At a country level, U.S, Canada, China and Japan is projected to grow strongly in the coming years.
SWOT Analysis of Electric Wheelchair Industry:
Growing old age population
Increasing obese population.
Opportunity in developing Industry
Lack of knowledge among the individuals
The segmentation is done on the basis of product Type and by region. On the basis of product types, the global Electric wheelchair Industry is sub-segmented as rear wheel drive, front wheel drive, center wheel drive, standing electric wheelchair and others of which the center wheel drive segment is expected to hold the highest Industry share and is growing with highest CAGR during the forecast period.
Electric Wheelchair Industry Segmentation:
By Product Type
• Rear Wheel Drive
• Front Wheel Drive
• Center Wheel Drive
• Standing Electric Wheelchair
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa