Global Electric Wheelchair Market to surpass US$ 2.9 billion by 2026 – Coherent Market Insights

SEATTLE–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/CenterWheelDrive?src=hash” target=”_blank”gt;#CenterWheelDrivelt;/agt;–According to Coherent Market Insights, the global electric wheelchair
market was valued at US$ 2,999.1 million in 2018, and is projected to
exhibit a CAGR of 17.1% during the forecast period (2018 – 2026).

Key Trends and Analysis of the Global Electric Wheelchair Market:

Increasing product launches by major key players is expected to boost
growth of the electric wheelchair market. For instance, in February
2017, Permobil launched the M3 Mid-Wheel Drive Power Wheelchair. It is
the first wheelchair incorporated with FlexLink full suspension
technology. M3 Mid-Wheel Drive Power Wheelchair operates through center
wheel drive electric wheelchair configuration. Moreover, in January
2015, Sunrise Medical (U.S.) LLC had introduced a new Zippie ZM-310
pediatric power wheelchair that featured the smallest mid-wheel-drive
base.

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Acquisition strategies by key players are expected to boost growth of
the global electric wheelchair market. For instance, in December 2017,
Permobil Inc. acquired MAX Mobility. With this acquisition, Permobil
expanded its wheelchair offerings by providing a motorized power assist
solution to its users and bridging the gap between power and manual
wheelchairs. Moreover, in August 2017, Sunrise Medical LLC. acquired
Magic Mobility, a manufacturer of powered wheelchairs. Through this
acquisition, Sunrise Medical LLC aimed to include powered wheelchairs in
its growing product portfolio.

The U.S. FDA has classified power wheelchairs as class II (performance
standards), in order to provide reasonable assurance of safety and
effectiveness of the device. For instance, in June 2016, the U.S. FDA
approved Quickie Pulse Models and Zippie ZM-310 developed by the Sunrise
Medical (US) LLC.

Increasing initiatives by key players such fund raising and geographical
expansion, in order to enhance their product portfolios is expected
drive electrical wheelchair market growth. For instance, in September
2018, WHILL, Inc., provider of next-generation Personal Electric
Vehicles (PEVs), completed procurement of US$ 45 million in funding led
by multiple investors. Moreover, in January 2018, WHILL launched the
Model Ci in the U.S. at the Consumer Electronics Show, and in April
2018, the company expanded its sales to Canada, and then into the U.K.,
and Italy in July 2018.

To know the latest trends and insights prevalent in this market,
click the link below:

https://www.coherentmarketinsights.com/market-insight/electric-wheelchair-market-1758

Key Market Takeaways:

  • The global electric wheelchair market is projected to witness CAGR of
    17.1% during the forecast period (2018 – 2026), owing to increasing
    product launches by key players. For instance, in 2017, Pride
    introduced its True Infinite-Position power lift recliners made in the
    U.S. Furthermore, Quantum introduced Q-Logic 3, an advanced, power
    chair drive.
  • Among region, Europe is also expected to witness significant growth in
    the global electric wheelchair market over the forecast period due to
    increasing acquisitions by key players in the region. For instance, in
    April 2017, REAC AB, a subsidiary of AB Latour, announced to acquire
    the German company AAT GmbH, a supplier of powered stair climbing
    solutions. The acquisition was done to enhance REAC’s product
    portfolio and strengthen its market position.
  • Major players operating in the global electric wheelchair market
    include Invacare Corporation Sunrise Medical, Permobil, Pride Mobility
    Products Corporation, Drive Devilbiss Healthcare, Hoveround
    Corporation, Ottobock Healthcare, 21st Century Scientific, Inc., Meyra
    GmbH, LEVO AG, and Merits Co. Ltd.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting
firm offering action-ready syndicated research reports, custom market
analysis, consulting services, and competitive analysis through various
recommendations related to emerging market trends, technologies, and
potential absolute dollar opportunity.

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Coherent Market Insights
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