Foldable Powered Wheelchair Market: Introduction
This twenty-first century has witnessed a significant increase in brain- and spine-related disorders such as cerebral palsy, acquired brain injury, spina bifida, spinal cord injuries, stroke, and polio. Not only brain- and spine-related disorders but some molecular and genetic diseases also impact the normal movement of the body such as moving, walking, and running. In these cases, foldable powered wheelchairs are a good option for use. Foldable powered wheelchairs are a type of wheelchair that uses power supplied by an electric motor to drive the wheelchair instead of manual power (Hands or legs). Moreover, it can be folded, which helps to easily store or transport it. These types of wheelchairs are useful for people who have difficulty in moving their hands or legs that are essential to power a conventional wheelchair. Foldable powered wheelchairs contain a drive system and battery, which powers the motor for movement. They also contain a controller, which is a joystick that consists of spin on and off buttons to control movement and a seat for patients to sit comfortably.
Key Drivers and Restraints of Global Foldable Powered Wheelchair Market
- Rise in the number of chronic disorders of spinal, nerve, and joint injuries such as arthritis, muscular dystrophy; brain-related injuries such as Traumatic brain injury; increase in incidences of genetic diseases such as Parkinson’s and Alzheimer’s that causes an inability to walk and move among patients; and a rise in the demand among people suffering from disability are key factors boosting the foldable powered wheelchair market.
- Technological advancements, rise of electric wheelchairs that consume less battery and have longer shelf life, and increase in R&D sector funding from governments are also key factors fueling the foldable powered wheelchair market
- Competition among top players, lack of awareness among people and unavailability of these wheelchairs in remote areas are key factors that are estimated to hamper the market
Multiple Pieces Folding Segment to Dominate Global Foldable Powered Wheelchair Market
- Based on type, the global folding power wheelchair market can be divided into folded into one piece and folded into 4-5 pieces (multiple pieces)
- The folding into multiple pieces segment is expected to dominate the global foldable powered wheelchair market due to less space utilized after folding, portability, and ease of use
Hospitals to Capture Prominent Market Share
- In terms of application, the global folding power wheelchair market has been categorized into online store, flagship store & specialty store, hospitals, homecare, rehabilitation centers, and others
- The hospitals segment accounted for a prominent share of the market due to a rise in the number of patients admitted to hospitals and clinics for treatment and healthcare infrastructure provided by hospitals.
North America to Dominate Global Folding Power Wheelchair market
- In terms of region, the global folding power wheelchair market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America accounts for a notable share of the global folding power wheelchair market, in terms of revenue, followed by Europe. Increase in number of people suffering from spinal, brain, nerve and muscular disorders and its steady increase in the last few years, developments in technology and manufacturing of large number of folding power wheelchairs by key players help further boost the market in the region.
Key Manufacturers Operating in Market
Key manufacturers operating in the global market are:
- Permobil Corp
- Pride Mobility Products Corp
- Sunrise Medical
- Invacare Corp
- JBH Wheelchair
- Drive Medical
- EZ Lite Cruiser
- Karma Mobility
- KD Smart Chair
Foldable Powered Wheelchair Market: Research Scope
Foldable Powered Wheelchair Market, by Type
- Folded into One Piece
- Folded into 4-5 Pieces
Foldable Powered Wheelchair Market, by Application
- Online Store
- Flagship Store & Specialty Store,
- Rehabilitation centers
Foldable Powered Wheelchair Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.