Electric Wheelchair Market Foresees Skyrocketing Growth in the Coming Years 2018-2026 Electric Wheelchair Market, By Product Type (Rear Wheel Drive, Front Wheel Drive, Center Wheel Drive, and Standing Electric Wheelchair), By End Users (Home Care Settings, Hospitals/Clinics, and Others), By Region - Size, Share, Outlook, and Opportunity Analysis, 2018-2026 The Global Electric Wheelchair Market was valued at US$ 2,911.5 Mn in 2018, and is expected to witness a CAGR of 17.1% during the forecast period (2018 – 2026). Technological advancements in electric wheelchairs to improve medical conditions such as physical disability caused due to lower limbs dysfunction by providing easy mobility, is expected to boost growth of the electric wheelchair market. Manual wheelchairs are designed to overcome mobility issue in physically disabled people. However, a manual wheelchair has proven to be a difficult task as it may cause fatigue. Thus, people are shifting towards electric wheelchairs as they offer easy mobility and are associated with multiple functions, including wireless programming and remote monitoring. Rising number of disability cases caused by factors such as increasing number of spinal cord injuries, meningitis, and workplace injuries among others, are expected to increase demand for electric wheelchairs. Market Dynamics Increasing product launches of high-technology electric wheelchairs is expected to drive growth of the electric wheelchair market. For instance, in December 2017, Quantum Rehab’s front wheel drive electric wheelchair, 4Front Power Base, was launched in the U.K. and Ireland. The 4Front is equipped with independent, automotive-grade Smooth Ride Suspension (SRS) that provides comfort and ride quality. Moreover, in May 2017, Numotion, a provider of Complex Rehab Technology (CRT), developed Tek RMD (Robotic Mobilization Device), a motorized standing wheelchair and made available in the U.S. Collaborations by the key players in order to enhance their wheelchair product portfolio is contributing to growth of the electric wheelchair market. For instance, in September 2014, Ottobock collaborated with MND Association and launched the new B400 Neuro Power Wheelchair, a new power wheelchair designed for people with motor neurone disease (MND). The B400 Neuro Power Wheelchair was developed as part of a MND Association initiative funded by the Department of Health, England. Increasing number of product launches is expected to drive growth of the Electric Wheelchair Market Increasing initiatives by key players in development of pediatric powered wheelchairs are expected to show significant growth in the pediatric segment of the electric wheelchair market. For instance, in January 2015, Sunrise Medical (U.S.) LLC introduced new Zippie ZM-310 pediatric power wheelchair featuring the smallest mid-wheel-drive base. The product was revised and updated as per the ANSI/RESNA standards. Moreover, in 2014, Invacare Corporation launched a new Invacare Fox electric wheelchair. It is designed to enable adult users to maximize independence in everyday life. Fox electric wheelchair provides considerable maneuverability indoors, and traction outdoors. Electric Wheelchair Market - Competitive Landscape Key players operating in the 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. Ask For Sample Copy Of This Business Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1758 Electric Wheelchair Market- Regional Analysis Regional segmentation of the global electric wheelchair market comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is anticipated to witness significant electric wheelchair market share, owing to initiatives by market players to establish their product portfolio in North American countries. For instance, in August 2018, Sunrise Medical LLC acquired Magic Mobility, a manufacturer of powered wheelchairs. With this acquisition, Sunrise Medical LLC aims to include powered wheelchairs in their product portfolio. Asia Pacific is expected to witness significant growth over the forecast period owing to increasing investments by manufacturers in order to expand their product portfolio. For instance, in September 2018, Whill Inc., a Tokyo-based company, raised around US$ 44.5 million from 13 companies. Moreover, the company sold its first product, Model A, in 2014 and second product Model Ci in April 2017 in the U.S. Europe is also expected to have meteoric growth in the electric wheelchair market, owing to increasing number of physically-challenged people in the region. For instance, according to the Family Resources Survey, 2016-17, there were 13.9 million physically-challenged people in the U.K., out of which children accounted for 8% and working age adults and pension age adults accounted for 19% and 45%, respectively. 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The Global Electric Wheelchair Market was valued at US$ 2,911.5 Mn in 2018, and is expected to witness a CAGR of 17.1% during the forecast period (2018 – 2026). Technological advancements in electric wheelchairs to improve medical conditions such as physical disability caused due to lower limbs dysfunction by providing easy mobility, is expected to boost growth of the electric wheelchair market.
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