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.