The elderly population is rapidly increasing in every nation on earth. During the course of the forecast period, it is anticipated that the enormous increase in the elderly population with co-morbidities, chronic illnesses, and other disabilities will fuel the expansion of the worldwide electric wheelchair market. For instance, 13% of the global population, as of 2017, is elderly, according to World Population Prospects. Over 3% of the population worldwide is 60 or older and, in Europe, which has the highest percentage of people over 60, there are about 25% of people over 60. According to projections, there will be 1.4 billion older people in the world in 2030, 2.1 billion in 2050, and maybe 3.1 billion in 2100.
The global Electric Wheelchair Market is estimated to be valued at US$ 6,387.3 Mn in 2021, and is expected to exhibit a CAGR of 10.7% over the forecast period (2021-2028).
Key Competitors in the Electric Wheelchair Industry:
1. Invacare Corporation
Invacare Corporation, together with its subsidiaries, designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets worldwide. Invacare Corporation was founded in 1885 and is headquartered in Elyria, Ohio. In June, 2022 Invacare Corporation announced that it has entered into a cooperation agreement with its largest shareholder, Azurite Management LLC (“Azurite”), which currently owns approximately 10.3% of the company.
2. Sunrise Medical (US) LLC
Founded in 1983, Sunrise Medical is a world leader in the development, design, manufacture, and distribution of manual and powered wheelchairs, mobility scooters, and both standard and made-to-order seating and positioning systems. The company has headquarters situated in California, USA. In August, 2022 Sunrise Medical, a world leader in advanced assistive mobility solutions, is pleased to announce that it has completed two strategic acquisitions in Europe in 2022.
3. Permobil Inc.
Founded in 1967, Permobil innovate for individuals; to create advanced assistive solutions that make the lives of people living with disabilities more enriching. Headquartered in Sweden. Permobil is operational in more than 15 countries around the world.
4. Pride Mobility Products Corporation
Pride Mobility Products Corporation is the world’s leading designer and manufacturer of mobility products. In 1986 the Meuser and Kretchik families started manufacturing lift chairs at a small building on Main Street in Pittston, Pennsylvania.
5. Drive Devilbiss Healthcare
In 1888, founded DeVilbiss Manufacturing for the sole purpose of producing this atomizer. Since that time, DeVilbiss has led the way in developing products that make breathing easier for millions of people.Headquartered in Port Washington, New York.
6. Ottobock Healthcare
In 1919 with the founding of a startup by Otto Bock – but through the intervening years, it has fundamentally changed the field of orthopaedic technology. It has headquarters situated in Duderstadt, Germany.
7. 21st Century Scientific, Inc.
In 1979, the 1-BB Bare Bones power wheelchair motor kit was introduced. The 21st Century SCIENTIFIC. The company has headquarters situated in ID
U.S.A.
8. Meyra GmbH
Since, 1936 MEYRA is one of the world’s best-known and most successful manufacturers of wheelchairs and suppliers of rehabilitation aids. It has headquarters situated in Kalletal-Kalldorf, Germany.
9. LEVO AG
LEVO AG offer wheelchairs that combine seating and standing positions matched to your unique biomechanical dynamics with superior maneuverability, size, weight, aesthetics and adjustability. The company has headquarters situated in Wohlen, Switzerland.
*Definition- When walking is difficult or impossible because of a disease, accident, or disability, a wheelchair is utilised.
