A recent report published by Infinium Global Research on robotic wheelchair market provides in-depth analysis of segments and sub-segments in the global as well as regional robotic wheelchair market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional robotic wheelchair market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global robotic wheelchair market. According to the report, the global robotic wheelchair market is projected to grow at a CAGR of 15% over the forecast period of 2019-2025.
The rapidly increasing aging population contributes to the rising demand for living support and healthcare. Older people are declined their functional status and have decreased mobility. The wheelchair is of prime importance in case of mobility impairment. The leading players in the robotic wheelchair market are using strategies such as mergers, acquisitions, and these companies are majorly focusing on innovations. For instance, in August 2018, Sunrise Medical acquired magic mobility. Sunrise Medical is a manufacturer of wheelchairs, scooters, and seating and positioning products. Magic mobility is a manufacturer of innovative power wheelchairs. In addition, Permobil acquired MAX mobility, in 2017. With this acquisition, Permobil expanded its wheelchair offerings.
The rising number of disabled people drives the growth of the robotic wheelchair market. The increasing aging population and rising disposable income stimulate the growth of the robotic wheelchair market. By 2050, approximately 17 percent of the world’s population will be aged 65 and over. The features in robotic wheelchairs such as voice command for managing mobility, smart sensors in wheelchairs, and navigational mapping stimulate the growth of the robotic wheelchair market. In addition, the rising demand for robotic wheelchairs from commercial institutions contributes to the growth of the robotic wheelchair market. On the flip side, the high cost of these robotic wheelchairs hinders the growth of the robotic wheelchair market. Furthermore, technological advancement creates numerous opportunities for the growth of the robotic wheelchair market. For instance, solar-powered robotic wheelchairs are one such innovation created with advanced technology.
Geographically, North America is expected to have a dominant share in the global robotic wheelchair market. The rapid adoption of advanced technology in North America contributes to the growth of the robotic wheelchair market. Asia-Pacific region is growing in the global robotic wheelchair market owing to the increasing aging population. By 2050, one in four people will be over 60 years old in the Asia-Pacific region. Europe is expected to grow in the global robotic wheelchair market.
The report on global robotic wheelchair market covers segments such as drive type, application, and distribution channel. On the basis of drive type, the sub-markets include rear wheel drive robotic wheelchairs, front wheel drive robotic wheelchairs, and mid-wheel drive robotic wheelchairs. On the basis of application, the sub-markets include residential, and commercial. On the basis of distribution channel, the sub-markets include online channel, and retailers.
The report provides profiles of the companies in the market such as Invacare Corporation, Karman Healthcare, Kinova Robotics, Drive DeVilbiss Healthcare Ltd, Permobil AB, Dane Technologies, Cyberworks Robotics Inc., MEYRA GmbH, ReSymmetry, Sunrise Medical Limited, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of robotic wheelchair market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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