PORTLAND, Ore., Nov. 2, 2020
Increase in ageing population, rise in the number of obese people and spine deformities, and rise in incidence of disabilities and accidents fuel the growth of the global electric wheelchairs market.
PORTLAND, Ore., Nov. 2, 2020 /PRNewswire/ -- Allied Market Research published a report, titled,"Electric Wheelchair Market by Product type (Centre Wheel Drive, Front Wheel Drive, Rear Wheel Drive, Standing Electric Wheelchair) - Global Opportunity Analysis and Industry Forecast, 2021 – 2027."According to the report, the global electric wheelchairs industry was pegged at $2.9 billion in 2019, and is expected to hit $5.8 billion by 2027, registering a CAGR of 9.7% from 2021 to 2027.
Drivers, restraints, and opportunities-
Increase in ageing population, rise in the number of obese people and spine deformities, and rise in incidence of disabilities and accidents fuel the growth of the global electric wheelchairs market. On the other hand, inaccessibility to quality healthcare in developing regions impedes the growth to some extent. However, emergence of technologically advanced products and untapped opportunities in developing and under developed economies are expected to pave the way for multiple opportunities in the industry.
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The centre wheel drive segment to lead the trail by 2027-
By product type, the centre wheel drive segment contributed to nearly two-fifths of the global electric wheelchairs market share in 2019 and is expected to retain its dominance by the end of 2027. Small turning radius, light front tires, easy maneuvering through narrow spaces, and better stability of center wheel drive the segment growth. The front wheel drive segment, on the other hand, would grow at the fastest CAGR of 11.0% throughout the forecast period. The seating system designed in these power wheelchairs effectively supports the clinical, functional, and lifestyle needs of active users, thereby propelling the growth of the segment.
North America to rule the roost-
By region, North America garnered the major market share in 2019, holding nearly two-fifths of the global electric wheelchairs market, owing to rise in application of electrical wheelchairs in indoor and outdoor in the province. Simultaneously, Asia-Pacific would portray the fastest CAGR of 11.5% from 2021 to 2027. This is due to a rise in the purchasing power of individuals in the populous countries such as China & Japan and increase in geriatric & bariatric population in the region.
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