Global Robotic Wheelchairs Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Robotic Wheelchairs Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global robotic wheelchairs market report has been segmented on the basis of type, application, and region.
Global Robotic Wheelchairs Market: Overview
Robotic wheelchairs help in ease the lives of many disabled people, especially those with severe impairments by increasing their range of mobility. Wheelchair are available in wide range of format to meet the specific need of the user.
Global Robotic Wheelchairs Market: Dynamics
Rising geriatric population and age related disorders are key factors expected to drive the revenue growth of the target market over the forecast years. Age-related diseases are illnesses and conditions includes cardiovascular diseases, strikes, cancer, type 2 diabetes, Parkinson's disease, Dementia, chronic obstructive pulmonary disease, Osteoarthritis, and many others. According to World Health Organization, between 2015 and 2050, the proportion of the world's population over aged 60 years will nearly double from approximately 12% to 22%.
In addition, rising disposable income, improving medical facilities, rapid technological innovations are some of the factors boosting the demand for the robotic wheelchairs worldwide.
However, high operational cost of robotic wheelchairs is a factor expected to hamper the growth of the target market to a certain extent over the forecast period. Furthermore, maintenance of the wheelchair can add up to operational cost as well as battery operated wheelchair which requires regular charging of the wheelchair are some other factors expected to restraint the growth of the market.
Global Robotic Wheelchairs Market: Segment Analysis
On the basis of type segment, front wheel drive robotic wheelchairs is estimated to account for largest market share and is expected to maintain its dominances over the forecast period. This is primarily due to the cost of front wheel wheelchair is comparatively low as compared to others. On the basis of application segment, commercial is expected to witnessed high revenue share for the next 10 years. This is primarily to, growing prevalence age related disorders among the elderly population.
Global Robotic Wheelchairs Market: Trends
The major players in the target market are focusing on collaborating with player in order to developed technologically advanced product as well as to expand their customer base, is currently the major trend observed in the target market.
For instance, In September 2018, Gecko Systems Intl. Corp. developed AI Mobile Robot Solutions for Safety, Security, and Service.
In December 2018, Intel Corporation launched AI-driven wheelchair as well as collaboration with a Brazil-based company HOOBOX ONE Robotics and the wheelchair was named ‘Wheelie 7’.
Global Robotic Wheelchairs Market: Regional Analysis
Currently, the markets in North America is expected to hold majority of share in the target market and is expected to maintain its position over the forecast period. This is due to, higher healthcare expenditure, growing awareness about technologically advent products, and increasing elderly population in countries in the region. The market in Asia Pacific is expected to accounts for fastest CAGR in the fore-coming years, owing to developing medical facilities and increasing geriatric population especially in countries such as India and China in the Asia Pacific region.
Global Robotic Wheelchairs Market Segmentation:
Segmentation by type:
- Rear Wheel Drive Robotic Wheelchairs
- Front Wheel Drive Robotic Wheelchairs
- Mid-wheel Drive Robotic Wheelchairs
Segmentation by application:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Invacare Corporation
- Pride Mobility Products Corporation
- Permobil Corporation
- Drive Devilbiss Healthcare
- Karman Healthcare Inc.
- Ottobock SE & Co. KGaA.
- UPnRIDE Robotics LTD
- Cyberdyne Inc.
- LEVO AG
- MEYRA GmbH
- Hoveround Corporation
- Cyberworks Robotics Inc.
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