The new report by Expert Market Research titled, ‘Global Power Assist Wheelchair Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global power assist wheelchair market, assessing the market based on its segments like type, distribution channel, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020) – USD 6.1 Billion (Wheelchair Market)
- Forecast CAGR (2021-2026) – 5.2%
- Forecast Market Size (2021-2026) – USD 8.3 Billion (Wheelchair Market)
The power assist wheelchair industry is primarily being driven by the rising investment of healthcare institutes in improving their facilities for the consumers. The rapid rising of wheelchair sports with introduction of more and more tournaments, is invigorating the market growth. In addition, the growing geriatric population is also providing an impetus to the demand of these wheelchairs. Moreover, the rising demand for user specific power assist wheelchairs is going to boost the growth rate significantly during the forecast period.
Industry Definition and Major Segments
Power assist wheelchairs are power driven wheelchairs that work on smart software driven motors that provide intuitive assistance. The rising popularity of these wheelchairs is due to their ability to manoeuver through inclines and declines, user specific designs and much more. The ability to move through different terrains and configure based on movement has incrementally boosted the growth rate of the power assist wheelchair market.
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Based on type, the market can be divided into:
- Towing Power Add-ons (Front Drive)
- Pushing Power Add-ons (Rear Dive)
- Rotate Rear Wheels by Additional Motorized Rollers
- Integrated into the Wheels of Wheelchair
On the basis of distribution channel, the industry can be divided as follows:
The regional markets for the product include the following:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
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The growth of the industry is likely to be driven by the rising technological advancements in the industry. The introduction of a wider range of product with enhanced qualities as well as affordable prices is expected to provide an impetus to the market growth. The rising popularity of wheelchair sports such as wheelchair basketball, tennis etc. and tournaments such as Paralympics significantly enhance the growth rate of the power assist wheelchair industry. With the ability to cater to different types of abilities by being designed to be user-specific and adaptable, there is a rising demand for power assist wheelchairs. Key players investing into all-terrain adaptable wheelchairs is predicted to boost the growth rate during the forecast period.
Key Market Players
The major players in the market are Alber GmbH, Permobil AB, Todo Works Corp, Batec Mobility S.L, Klaxon Mobility GmbH, Sunrise Medical, and Yamaha Motor Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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This post was originally published on Downey Magazine