Smart Wheelchairs Market Share, Demand, Top Players, Industry Size, Future Growth By 2029
The global smart wheelchairs market size is expected to gain momentum owing to the growing awareness regarding the availability of innovative wheelchairs during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Smart Wheelchairs Market, 2022-2029.” Over the projected period, emerging nations such as India are considered major income drivers for wheelchair makers. The country has one of the highest rates of traffic accidents in the world, with several individuals injured or killed. It also has one of the world's largest populations of disabled people. The region is still at an embryonic stage in terms of wheelchair accessibility and consumption; however, with increasing public awareness and favorable government measures, the need for a wheelchair is likely to increase in the coming years. According to the World Health Organization (WHO), around 15.0 percent (or 1 billion) of the world population has a disability that necessitates the use of mobility aids.
COVID-19 Impact-
Supply Chain Disruption to Hamper the Market
The COVID-19 outbreak caused significant disruption in the smart wheelchairs supply chain. Due to severe shutdowns, wheelchair manufacturing has been halted in many countries. Dual-purpose wheelchairs were designed to help COVID-19 patients sit and sleep in order to alleviate the lack of hospital beds in emerging economies.
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List of Key Players Profiled in the Global Market for Smart Wheelchairs:
- Medical Depot Inc.
- Invacare Corporation
- Karman Healthcare Inc.
- GF Health Products Inc.
- Kunshan Hi-Fortune Health Products
- Centaur Robotics
- TopMedi
- MEYRA GmbH
- Permobil
- Airwheel Holdings
What does the Report Offer?
This report for smart wheelchairs provides a comprehensive overview of the Smart Wheelchair market and a limitless guide to current market size, share, driving factors, trends, progressive growth, and dominating players. In addition, this market research report provides an in-depth description of product specification, technology, product type, and production analysis, taking into account significant elements such as revenue, cost, and production.
Drivers & Restraints-
Increasing Technological Advancement to Stimulate Growth
During the projected period, the worldwide smart wheelchairs market growth is expected to grow due to growing technology. A prominent trend projected to fuel future market demand is the evolution of technical breakthroughs in wheelchair innovations. The introduction of battery-powered electric wheelchairs is expected to provide greater assistance to users. Along with improvements in layout, there are advancements in technology that can store and link the gadget to the patient's medical history, alert for panic calls in crisis situations, and even monitor their health at critical indicators. For example, SmartDrive PushTracker E2, an innovative power assist system for manual wheelchairs, was launched in 2019 by Permobil, a market leader in modern medicine. The technology improves users' ability to move on uneven surfaces while also helping to reduce elbow strain problems. Over the projection period, such add-ons to manual wheelchair designs are likely to sustain the sales volume for these.
Segments-
By product type, the market is segmented into pediatric & bariatric wheelchairs, rollators, and mobility scooters. On the basis of application, the market is segregated into homecare, hospitals, and others. On the basis of distribution channel, the market is divided into offline and online. Finally, by geography, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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REGIONAL INSIGHTS
Increasing Number of Accidents to Promote Growth in Asia Pacific
Asia Pacific is expected to hold the largest global smart wheelchairs market share during the forecast period. China has among the nation's largest rates of traffic accidents, and as a result, several people were hurt. China does have the country's second disabled population, after India. A robust medical field, which produces items at far lower prices than other countries, makes China the most appealing market in Asia. Furthermore, different medical equipment manufacturers in the world are projected to result in considerable growth in the nation's wheelchair and component industries in the coming years.
North America is expected to have a sizable share of the market. Because of growing government measures to assist the disabled population, the United States dominates the global market. Furthermore, manufacturers around the nation are constantly engaged in methods that enable them to access a broader patient base.
Competitive Landscape-
Increasing Number of Mergers to Create Opportunities for Market Growth
To stay competitive and maintain a strong product pipeline, medical device corporations continue to look for prospective assets from smaller companies with fewer resources to bring projects through to completion. Companies obtain these new items through licensing agreements and collaborations while continuing to pursue their in-house development strategy.
Industry Development-
- May 2019: All Nippon Airways Co., Japan's largest airline, teamed up with Panasonic to test the world's largest generation smart wheelchairs at its airport. This enables a rising number of Japanese senior citizens to navigate airports independently.
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