South Korea Electric Wheelchair Market Size & Outlook
South Korea electric wheelchair market, 2018-2030 (US$M)
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South Korea electric wheelchair market highlights
- The South Korea electric wheelchair market generated a revenue of USD 45.8 million in 2023 and is expected to reach USD 76.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.7% from 2024 to 2030.
- In terms of segment, adult was the largest revenue generating category type in 2023.
- Pediatric is the most lucrative category type segment registering the fastest growth during the forecast period.
Electric wheelchair market data book summary
| Market revenue in 2023 | USD 45.8 million |
| Market revenue in 2030 | USD 76.9 million |
| Growth rate | 7.7% (CAGR from 2023 to 2030) |
| Largest segment | Adult |
| Fastest growing segment | Pediatric |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Adult, Pediatric |
| Key market players worldwide | Carex Health Brands, Drive Medical, Graham - Field Health Products, Invacare, Medline Industries, Sunrise Medical, Quantum Rehab, Numotion, Pride Mobility Products Corp, Seating Matters, Karman Healthcare |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.3% of the global electric wheelchair market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China electric wheelchair market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 122.0 million by 2030.
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Electric Wheelchair Market Scope
Electric Wheelchair Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea electric wheelchair market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electric wheelchair market will help companies and investors design strategic landscapes.
Adult was the largest segment with a revenue share of 67.25% in 2024. Horizon Databook has segmented the South Korea electric wheelchair market based on adult, pediatric covering the revenue growth of each sub-segment from 2018 to 2030.
Increased number of disability cases drives the market growth. According to The Korea Herald by Herald Corporation article published in April 2024, South Korea saw a substantial the number of individuals registered with disabilities, totaling over 2.64 million people in 2023, which accounts for approximately 5.1% of the country’s total population.
This growing demographic highlights an urgent and expanding need for effective mobility solutions. Electric wheelchairs play a crucial role for many of these individuals, offering enhanced mobility and independence that traditional mobility aids may not provide.
The demand for electric wheelchairs is expected to grow as the disabled population continues to rise, driven by factors such as an aging population and increased recognition of various disabilities.
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Target buyers of South Korea electric wheelchair market databook
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Our clientele includes a mix of electric wheelchair market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea electric wheelchair market , including forecasts for subscribers. This country databook contains high-level insights into South Korea electric wheelchair market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea electric wheelchair market size, by product, 2018-2030 (US$M)
South Korea Electric Wheelchair Market Outlook Share, 2024 & 2030 (US$M)
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