PUBLISHER: The Business Research Company | PRODUCT CODE: 1572602
PUBLISHER: The Business Research Company | PRODUCT CODE: 1572602
Robotic wheelchairs are advanced motorized mobility devices designed to aid users in navigating their surroundings. They incorporate technologies such as robotics for autonomous navigation, sensors for obstacle detection, and artificial intelligence (AI) for adaptive control and interaction. The main goal of these wheelchairs is to improve mobility, independence, and quality of life for individuals with physical disabilities or mobility challenges.
There are three primary types of robotic wheelchairs rear-wheel drive, front-wheel drive, and mid-wheel drive. Rear-wheel drive robotic wheelchairs are particularly suited for outdoor use, providing excellent traction and stability on various surfaces such as gravel or grass. These wheelchairs find applications in both personal and commercial settings, with distribution channels including home care environments, rehabilitation centers, and online sales.
The robotic wheelchairs market research report is one of a series of new reports from The Business Research Company that provides robotic wheelchairs market statistics, including the robotic wheelchairs industry global market size, regional shares, competitors with robotic wheelchairs market share, detailed robotic wheelchairs market segments, market trends, and opportunities, and any further data you may need to thrive in the robotic wheelchairs industry. These robotic wheelchairs market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The robotic wheelchairs market size has grown strongly in recent years. It will grow from $11.3 billion in 2023 to $12.27 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth during the historic period can be attributed to increased awareness of mobility solutions, investments in the research and development of advanced mobility devices, rising healthcare expenditures, growing urban populations, and improved insurance policies covering these needs.
The robotic wheelchairs market size is expected to see strong growth in the next few years. It will grow to $17.13 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth during the forecast period can be attributed to the development of infrastructure, the expansion of e-commerce platforms, enhanced safety features, an increased focus on rehabilitation, and the emphasis on remote health monitoring features in wheelchairs. Major trends in the forecast period include advancements in battery technologies, the creation of eco-friendly wheelchair solutions, voice-activated robotic wheelchairs, advanced mapping technologies, and the use of lightweight materials.
The growing patient population is expected to drive the expansion of the robotic wheelchair market. This patient pool refers to the total number of individuals in a specific demographic or healthcare setting who require medical care or attention. Factors such as population growth, aging demographics, and increased access to healthcare services contribute to the rising patient pool. Robotic wheelchairs offer enhanced mobility and independence to patients, allowing them to navigate their environments with adaptive technology that addresses physical limitations. For example, in May 2023, according to a report by the American Hospital Association (AHA), a US-based healthcare trade organization representing hospitals and healthcare networks, total admissions in U.S. hospitals reached 34,011,386, up from 33,356,853 in 2022. Thus, an increasing patient pool will drive growth in the robotic wheelchair market.
Leading companies in the robotic wheelchair market are developing power wheelchairs with advanced features such as AI integration and autonomous navigation to enhance mobility and independence for individuals with disabilities. Power wheelchairs are electrically powered mobility devices that assist those with mobility impairments by providing independent movement. For instance, in January 2024, Robooter, a US-based medical equipment manufacturer, introduced its innovative X40 power wheelchair at the Consumer Electronics Show (CES 2024) in Las Vegas. The X40 is a semi-outdoor, electrically foldable wheelchair designed to tackle lower limb mobility challenges. It features omnidirectional wheels, remote control, configurable maximum speed for safety, ample legroom, and smooth operation on various terrains without requiring a large turning radius. It also boasts a long-lasting battery and a user-friendly interface.
In June 2024, Platinum Equity, a US-based private equity firm, acquired Sunrise Medical for an undisclosed amount. This acquisition aims to invest in advanced clinical mobility solutions tailored to individual needs. Sunrise Medical, a Germany-based manufacturer of medical equipment, specializes in designing, manufacturing, and distributing advanced assistive mobility devices and solutions, including robotic wheelchairs.
Major companies operating in the robotic wheelchairs market are Honda Motor Co. Ltd., Panasonic Corporation, Ottobock SE & Company, Invacare Corporation, Permobil Inc., Sunrise Medical Inc., Pride Mobility Products Corporation, DEKA Research & Development Corporation, Kinova Inc., Hoveround Corporation, Whill Inc., Merits Health Products Co. Ltd., Shanghai Bangbang Robotics Co. Ltd, Korea Institute of Machinery and Materials (KIMM), Matia Mobility Inc., Karma Medical Products Co. Ltd., Cyberworks Robotics Inc., Airwheel Holding Limited, Karman Healthcare Inc., Gilani Engineering, Centaur Robotics Limited, DNR Wheels Pte Ltd, Meyra GmbH, Upnride Robotics, Nino Robotics
North America was the largest region in the robotic wheelchairs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the robotic wheelchairs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the robotic wheelchairs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The robotic wheelchairs market consists of sales of powered wheelchairs, smart wheelchairs, and portable wheelchairs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Robotic Wheelchairs Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on robotic wheelchairs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for robotic wheelchairs ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The robotic wheelchairs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.