Electric Wheelchair Market to Hit $6.84 Billion by 2030 ; Matsunaga Manufactory Co., Ltd., Nissin Medical Industries Co
Electric Wheelchair
The ban on the import of electronic components from China negatively affected the manufacturing of electric wheelchairs.
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, November 20, 2023 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global electric wheelchair market was accounted for $2.68 billion in 2020, and is estimated to reach $6.84 billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030.
Rise in incidence of spinal deformities, disabilities, and accidents and increase in geriatric population have boosted the growth of the global electric wheelchair market. However, high cost compared to manual wheelchairs and inaccessibility to quality healthcare and infrastructure in developing countries hinder the market growth. On the contrary, advent of technologically advanced products and untapped opportunities in developing and underdeveloped economies open new opportunities for the market players in the future.
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Covid-19 scenario:
Since the Covid-19 outbreak, several countries have imposed strict regulations regarding social distancing and ban on international import-export. This hampered the supply chain and increased the prices of raw materials.
The ban on the import of electronic components from China negatively affected the manufacturing of electric wheelchairs.
Get detailed COVID-19 impact analysis on the Electric Wheelchair Market: https://www.alliedmarketresearch.com/request-for-customization/2111?reqfor=covid
The report divides the global electric wheelchair marketon the basis of product and region.
Based on product, the center wheel drive segment held the largest share in 2020, accounting for nearly two-fifths of the market. However, the front-wheel-drive segment is projected to manifest the highest CAGR of 9.3% during the forecast period.
The report offers an analysis of the global electric wheelchair market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 9.6% during the forecast period.
The global electric wheelchair market report includes an in-depth analysis of the prime market players such as Invacare Corporation, OttoBock Healthcare GmbH, Permobil AB, Pride Mobility Products Corp, MEYRA GmbH, Sunrise Medical Limited, Karma Medical Products Co., Ltd., Matsunaga Manufactory Co., Ltd., Nissin Medical Industries Co., Ltd., and Miki Kogyosho Co. Ltd.
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Allied Market Research
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