Fitness Trends Electric Wheelchair Market | Page 2

clinical evaluations and touch screen display. This technology also enables easy intuitive
programming and also hassle free functioning of the equipment for its customers. Other factors,
which are expected to boost growth of the electric wheelchair market are rising geriatric
population, rising awareness related to benefits of use of automated wheelchairs over manual
wheelchairs, and increasing prevalence of chronic disorders in geriatric population. According to
a survey conducted by Population Reference Bureau in 2016, there were over 46 million senior
citizens of the age 65 and above in U.S. About 48% of this aging population are disabled due
to age factor and chronic diseases. According to a survey conducted by the U.S. Census Bureau
in 2017, around 40 million people in the U.S. are physically challenged. Moreover, according to
a survey conducted by Center for Disease Control and Prevention in 2016, over 117 million
people were diagnosed with chronic disorders. All these factors are expected to support growth
of the electric wheelchair market over the forecast period (2018-2026).
Electric Wheelchair Market Regional Analysis:-
North America is expected to hold dominant position in the global electric wheelchair market,
and is also expected to exhibit a significant growth rate, owing to increasing launches of novel
products in the market. For instance, in April 2018, Quantum Rehab, a U.S.-based company,
launched Kozmo and Kozmo Portable. This device is especially made for children. The size of
Kozmo Portable electric wheelchair is compact and easy to carry. It helps in fast transport and
is convenient for parents and children. Moreover, in April 2018, Quantum Rehab launched
products including TRU-BALANCE 3 and TRU- BALANCE FLEX. Such new range of products is
expected to fuel growth of the electric wheelchair market. Furthermore, Medicare, national
(U.S.) health insurance program provides reimbursements on buying an electric wheel chair. The
patient pays 20% of the amount mentioned for a given product and Medicare pays the
remaining 80%. Such reimbursement plans can boost adoption of the electric wheel chair
market in North America.
Asia Pacific is also expected to witness high growth in the global electric wheel chair market,
due to rise of chronic diseases in geriatric population and increasing launch of electric wheel
chairs with advanced technology. According to a survey conducted by National Institutes of
health in 2015, cardiovascular disease is rising in Asian population. Cardiovascular disease has
caused approximately 52% of deaths in India. For instance, in 2017, Whill Inc., a Japan-based
company, launched Model M. This device has omni-wheel technology, which can be used on
rough terrain. It also has a compact size and its agile steering can easily navigate in narrow
and tight spaces. Such innovations are expected to fuel growth of the electric wheelchair
market.