Wheels of Innovation: A Comprehensive Study on the Promising Smart Wheelchair Market Set to Reach US$ 344.5 Million by 2032, as Forecasted by FMI

Due to market influencing factors like the rising prevalence of neurological disorders, rising awareness of and demand for automated medical devices, the growing burden of the global geriatric population, and the rising levels of disposable income among the target population, the Smart Wheelchair Market is subject to change.

The Smart Wheelchair Market was expected to grow at a CAGR of 7.8% from 2022 to 2032, the smart wheelchair market is expected to be valued at US$ 344.5 Million by the end of 2032, the smart wheelchair market is expected to be worth US$ 162.6 in the year 2022.

Despite the requirement for independent movement, some wheelchair users find it difficult or impossible to use traditional manual or motorised wheelchairs. When there are various overlapping physical, cognitive, or perceptual symptoms of illnesses such cerebral palsy, amyotrophic lateral sclerosis, cerebrovascular accident, multiple sclerosis, and spinal cord injury, using a wheelchair safely and independently can be difficult. A smart wheelchair and various wheelchair form components may provide various types of assistance to people with a variety of symptom combinations.

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Patients may be relocated in hospital settings for procedures, tests, analysis, and consultations with outside experts. This is essential for persons whose lower limb limitations, soreness, fractures, or abnormalities make it difficult for them to move around or maintain their balance. Patients are currently taken to hospitals by patient transporters. A wheelchair might be used more frequently because of its independence, which would be better. As a result, there wouldn’t be any mistakes made because there wasn’t enough staff to finish the transfer.

Technological advancements are also shaping the growth of the smart wheelchairs industry for over a decade:

• For instance, In November 2021, Sunrise Medical LLC. announced the launch of its new ZIPPIE® Sphynx an on the go, compact, easily transportable wheelchair that can fit within a compact car’s trunk according to the clients’ needs. The market is consolidated with a few key players dominating the industry.

Rising sedentary lifestyle, increasing popularity of ultra-lightweight smart wheelchairs, and increased focus on R&D for smart wheelchairs are some of the key trends of this market. The overall improved technology adoption globally will fuel the demand for smart wheelchairs and the market is likely to expand exponentially over the forecast period. (2022-2032)

Key Takeaways from this study:

• The joystick based smart wheelchairs hold the highest market share of about 85.0% during the year 2021, expanding at a CAGR of 7.6% during the forecast period.
• Mobility impairment by usage accounts for the largest market value share of more than 40% and is set to expand at a CAGR of 7.2%.
• The healthcare settings as the end users hold a market share of 48.0% in 2021 with an expected CAGR growth of 6.8% during the forecasted years.
• North America is a leading region for the global smart wheelchairs market during the year 2021, accounting for a market share of 37.0%.

 “Growing patient awareness regarding smart wheelchairs would fuel the growth of this market globally” says an analyst of Future Market Insights.

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Market Competition:

Acquisitions and expansion of existing facilities are some of the strategies adopted by leading manufacturers of the smart wheelchair industry such as Sunrise Medical and Permobil, to further their business and establish a stronger market presence.

• In August 2020, Sunrise Medical announced the completion of a strategic acquisition of paediatric industry leaders, Leckey and Firefly, in order to extend its paediatric product and service portfolio.
• In March 2022, Permobil, a leading player in the wheelchairs industry, announced an investment to expand their R&D and operations facility in Tennessee in order to expand their business.

What does the report cover?

Future Market Insights offers a unique perspective and actionable insights on the smart wheelchairs market in its latest study, presenting a demand assessment of 2017 – 2021 and projections for 2022 – 2032.

The research is based on product-(joystick based smart wheelchairs and Bluetooth connected smart wheelchairs), usage-(mobility impairment, ocular disability, geriatric group, multiple disability and others), and end-user (healthcare settings, home care settings and public access), and across seven key regions of the world.

Competitive Landscape:

Key players in the smart wheelchair industry are focusing on acquisitions to strengthen their market presence and expand into the global market. Keeping their sustainable development goals in mind, the companies also promote new product launches with the incorporation of an array of patient requirements.

Key Companies Profiled:

• Medical Depot, Inc.
• Permobil AB
• Pride Mobility Products Ltd.
• MEYRA GmbH
• DEKA Research & Development Corp.
• tmsuk company limited
• Ottobock
• WHILL Inc.
• Invacare Corporation
• Karman Healthcare, Inc.

Key Market Segments Covered in the Smart Wheelchair Industry Research

By Product:

• Joystick based Smart Wheelchairs
• Bluetooth Connected Smart Wheelchairs

By Patient:

• Mobility Impairment
• Ocular Disability
• Geriatric Group
• Multiple-Disability
• Others

By End-User:

• Healthcare Settings
• Home Care Settings
• Public Access

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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