Published On : 11 Oct 2018
The overall field of providing healthcare in hospitals, clinics, healing centers, and even at home, has witnessed tremendous change in the last few years. A specific change that has ushered in high levels of simplicity and efficiency involves implementation of technological aspects. Motorized wheelchairs is a one such relatively new technology that has proliferated all over the globe, thereby constituting the global electric wheelchair market. These wheelchairs mainly are motorized through batteries, and help decrease the fatigue caused to the patient which was earlier caused during the time of manual wheelchairs.
Motorized wheelchairs are useful for those unable to propel a manual wheelchair or who may need to use a wheelchair for covering long distances. They may also be used not just by people with 'traditional' mobility impairments, but also by people with cardiovascular conditions. Rising geriatric population is primarily driving the global electric wheelchair market. This is because of an increase in health conditions that might make it difficult for the elderly to walk, thus demanding use of efficient electric and motorized wheelchairs. An increase in the number of cases involving spinal injuries, accidents, and obesity, which could pose problems regarding mobility for affected persons also is increasing demand for electric wheelchairs, consequently driving the associated market.
However, high costs of electric vehicles mostly contribute towards steeper treatment expenses. Such costs might not afforded by those having low disposal income thereby restraining the global electric vehicles market. Less availability or even a complete lack of the wheelchairs in healthcare sectors from remote and underdeveloped regions is also known to be detrimental to the market’s growth. Moreover, several healthcare centers still prefer use of manually operated wheelchairs. This factor too hinders the global electric wheelchair market’s growth.
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Nonetheless, the market is expected to showcase a splendid growth during the forthcoming years thanks to efforts taken by several manufacturers to produce cost-effective electric wheelchair devices. The restraints affecting the market are expected to decrease as companies are focusing on improving their geographical expansion in the healthcare industry.
A highly competitive vendor landscape is depicted by the global electric wheelchair market, owing to most players continuously trying to outgun their rivals. Many companies are focusing on introducing new devices on a frequent basis, as well as improving their technological efficiency.
Reducing device costs to benefit ease of accessing relevant healthcare services and treatments is another area where many businesses in the global electric wheelchair market are striving to succeed. With more players expected to enter the market in the next few years, the competition is projected to become more intense. Golden Technologies, Drive Medical, Invacare Corp, Hoveround Corp, Heartway, 21st Century SCIENTIFIC Inc., Pride Mobility Products Corp, EZ Lite Cruiser, Merits Health Products, Inc., and Dane, are key players operating in the global electric wheelchair market.
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