Transforming Lives: The Impact of Smart Wheelchairs by 2032 from Sanket Badgujar's blog

The global smart wheelchair market demand is set to witness remarkable growth, projecting a promising CAGR of 7.8% from 2022 to 2032. The market, valued at US$ 162.6 Million in 2022, is expected to soar to an estimated value of US$ 344.5 Million by the end of 2032, showcasing an evolution in mobility solutions.

The surge in demand for assistive technologies has driven the propulsion of the smart wheelchair industry. With technological advancements at the forefront, the market is witnessing a transformative shift, empowering individuals with enhanced mobility and independence.

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Factors such as increased research and development initiatives, rising awareness about assistive technologies, and a growing aging population worldwide contribute significantly to this market's expansion. These innovations not only offer improved maneuverability but also integrate smart features, ensuring safety and convenience for users.

The journey toward a more inclusive society is driven by technological advancements that break barriers and create opportunities for everyone. The anticipated surge in the smart wheelchair market reflects a promising future, underlining a commitment to fostering independence and mobility for all.

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.

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.

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