As per our research report, the Global Smart Wheelchair Market size is estimated to be growing at a CAGR of 8.2% from 2024 to 2030.
The COVID-19 pandemic began in December 2019 and has already spread to more than 100 nations worldwide. On January 30, 2020, the World Health Organisation declared a public health emergency due to the virus. It had a negative impact on nearly every sector's economic growth. However, it had a significant impact on the economy in three primary ways: directly affecting product manufacturing and supply and demand; disrupting distribution networks; and having a financial impact on businesses and financial markets. A number of economies, including Saudi Arabia, Egypt, China, India, and the United Arab Emirates, experienced difficulties in moving products and services as a result of the worldwide shutdowns. People with physical limitations suffered grave consequences as a result of the epidemic. Lockdowns made it harder to attend the hospital and obtain healthcare services. Patients with cerebral palsy or other disorders experienced a decline in their immune system's ability to fight off infections. In the UK, between January 2020 and November 2020, handicapped persons were three times more likely than non-disabled people to die from COVID-19, according to a post published on VaccinesWork, a digital platform run by Gavi, the Vaccine Alliance.
Global ageing populations and an increase in the number of disabled people are driving growth in the smart wheelchair market. With over 1 billion individuals living with a disability annually, there is a growing need for creative mobility solutions. Further propelling market expansion are technological developments, such as the use of artificial intelligence. Businesses that make significant investments in R&D are expanding the market by launching new features that optimise smart wheelchair performance while lowering prices. But one major obstacle is the expensive price of smart wheelchairs, which can range from $1,000 to $15,000. This price barrier could prevent the market from becoming widely accessible and adopted, which would reduce its overall size and potential influence.
It is expected that over the course of the forecast period, the market would increase due to the increasing technological advancements in wheelchair development as well as the incorporation of artificial intelligence by major companies in the industry. Many millions of dollars are being spent on research and development in this field, and companies are trying to expand their global market reach by creating and incorporating new features and technologies while lowering associated costs.
Although ageing populations, rising disability rates, technology breakthroughs, and R&D expenditures all support the market expansion of smart wheelchairs, one major obstacle is their expensive price. To reach a wider audience and improve the accessibility of smart wheelchairs, it may be imperative to tackle the issue of pricing.
Key Market Insights:
With the largest revenue share, the Standard Powered Wheelchair emerges as the market leader in the smart wheelchair space. Its widespread user base and affordability—which make it a good starting point for those new to the smart wheelchair market—are credited with its appeal.
By far the fastest-growing category is the Standard Plus Powered Wheelchair, which has grown significantly. This increase is the result of consumer demand for slightly more sophisticated features without the complexity and higher price tag of custom features. Important elements driving this segment's expansion include improved comfort and manoeuvrability.
Smart wheelchairs with joysticks have the highest revenue share among all product categories, suggesting that users strongly prefer these models. They are widely used because of their simple interface and instantaneous effect on improving mobility. Furthermore, the addition of Bluetooth technology to smart wheelchairs is driving market expansion by appealing to tech-savvy consumers looking for cutting-edge ways to connect with their mobility aids.
With the largest revenue share in the application segment, the Geriatric Group is in control. This highlights the significance of smart wheelchairs in meeting the mobility needs of the elderly and is a response to the ageing demographic change in developed countries. This category of smart wheelchairs includes models with customizable controls and a wide range of settings.
E-commerce is the fastest-growing sector, although retail continues to be the most popular distribution channel with the largest market revenue share. User adoption has increased significantly as a result of the simplicity of online purchasing and the wide selection of products available. This development is especially noticeable among tech-savvy customers who value doorstep delivery convenience and are at ease with making purchases online.
Standard Powered Wheelchairs
Standard Plus Powered Wheelchairs
Custom-Built Powered Wheelchairs
Joystick-based Smart Wheelchairs
Bluetooth Connected Smart Wheelchairs
Mobility Impairment
Ocular Disability
Geriatric Group
Multiple-Disability
Others
Rehab Centres
Hospitals
Homecare Settings
Others
Retail
E-commerce
North America
Europe
South America
Asia-Pacific
Middle East and Africa
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