Powered Wheelchair Market Size By Product (Front Wheel Drive, Mid Wheel Drive, Rear Wheel Drive), By Technology (Standard Powered Wheelchair, Smart Wheelchair), By Patient (Pediatric, Adult), By Portability (Standalone, Portable), By Application (Mobility

Powered Wheelchair Market Size By Product (Front Wheel Drive, Mid Wheel Drive, Rear Wheel Drive), By Technology (Standard Powered Wheelchair, Smart Wheelchair), By Patient (Pediatric, Adult), By Portability (Standalone, Portable), By Application (Mobility, Neurological Conditions), By Distribution Channel (Brick & Mortar, E-commerce), By End-use (Hospitals, Home Care, Long Term Care Facilities, Rehabilitation Centers) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

The powered wheelchair market is speculated to exhibit steady growth by 2030 owing to increasing advancements in product technology. In addition, growing elderly population with wheelchair requirements is likely to augment market growth over the forecast timeframe.

During the COVID-19 pandemic, the industry witnessed a positive influence on product uptake due to the prevalent requirement of wheelchairs for affected patients. Moreover, major players have been focusing on introducing new technology into their product portfolios to maintain a prominent position in the market. For instance, in August 2021, Invacare Corporation, a distributor of non-acute medical equipment, introduced its new Invacare AVIVA STORM RX power wheelchair, establishing a new benchmark for rear wheel drive power wheelchairs.

The powered wheelchair market has been divided in terms of patient, product, technology, application, portability, end-use, distribution channel, and region.

Based on product, the market has been bifurcated into rear wheel, front wheel, mid wheel, and others. The rear wheel segment reported around $900 million in revenue share in 2021 and is expected to witness steady growth at a CAGR of nearly 6.2% over the analysis period. The growth is attributed to the advent of innovative powered wheelchairs, such as portable wheelchairs, smart wheelchairs, and standing wheelchairs.

From the technology point of view, the powered wheelchair market has been segmented into smart wheelchair and standard power wheelchair. In 2021, the smart wheelchairs segment held around $160 million in revenue. Technological advancements in the field of powered wheelchairs are expected to enhance segmental expansion through the analysis period.

With respect to patient, the industry has been categorized into adult and pediatric. The adult segment accounted for a substantial market share in 2021 and is anticipated to reach above $3,500 million valuation in 2030 due to rising instances of disabilities amongst the elderly.

The powered wheelchair market has been divided based on portability into portable and standalone. The standalone segment is set to reach a valuation of around $3,800 million by 2030, expanding at a CAGR of approximately 6% through the assessment time period. Increased product adoption rate amongst patients with disabilities is likely to boost segmental growth.

With regard to application, the industry has been classified into neurological conditions and mobility. The neurological conditions segment registered a sizable market share in 2021 and is slated to reach around $350 million by the end of the forecast period as a result of the mounting burden of debilitating neurological conditions.

In terms of distribution channel, the powered wheelchair market has been segregated into e-commerce and brick & mortar. The e-commerce segment is projected to grow at a CAGR of above 6.9% through the review timeline owing to soaring popularity of online stores, which can be majorly credited to the lockdown period induced by the COVID-19 pandemic.

With reference to end-use, the powered wheelchair industry has been split into rehabilitation centers, homecare, long term care services, and hospitals. The homecare segment held the largest market share in 2021 and is estimated to observe substantial growth to surpass a valuation of $1,690 million by 2030 on account of several advantages of homecare, such as availing healthcare in the comfort of the patient’s home and the availability of skilled professionals in the homecare sector.

On the regional spectrum, the North America powered wheelchair market was valued at more than $880 million in 2021 and is set to progress significantly over the review period driven by the presence of major market players and technological advancements in the motorized wheelchair industry.