SEATTLE--(BUSINESS WIRE)--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.
Request Sample Copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/1758
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.
Buy this exclusive report now @ https://www.coherentmarketinsights.com/insight/buy-now/1758
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.
