(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 28, 2024 (GLOBE NEWSWIRE) -- The "Robotic Wheelchairs market Report 2024" has been added to ResearchAndMarkets.com's offering.
The robotic wheelchairs market size has grown strongly in recent years, 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, growing to $17.13 billion in 2028 at a 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.
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.
Scope
Markets Covered:
By Wheelchair: Rear-Wheel Drive; Front-Wheel Drive; Mid-Wheel Drive By Application: Personal Use; Commercial Use By Distribution Channel: Home Care Settings; Rehabilitation Centers; Online Sales Channel; Other Channels
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $12.27 Billion |
| Forecasted Market Value (USD) by 2028 | $17.13 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Robotic Wheelchairs Market Characteristics
3. Robotic Wheelchairs Market Trends and Strategies
4. Robotic Wheelchairs Market - Macro Economic Scenario
4.1. Impact of High Inflation on The Market
4.2. Ukraine-Russia War Impact on The Market
4.3. COVID-19 Impact on The Market
5. Global Robotic Wheelchairs Market Size and Growth
5.1. Global Robotic Wheelchairs Market Drivers and Restraints
5.2. Global Robotic Wheelchairs Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Robotic Wheelchairs Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Robotic Wheelchairs Market Segmentation
6.1. Global Robotic Wheelchairs Market, Segmentation by Wheelchair, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Rear-Wheel Drive Front-Wheel Drive Mid-Wheel Drive
6.2. Global Robotic Wheelchairs Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Personal Use Commercial Use
6.3. Global Robotic Wheelchairs Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Home Care Settings Rehabilitation Centers Online Sales Channel Other Channels
7. Robotic Wheelchairs Market Regional and Country Analysis
7.1. Global Robotic Wheelchairs Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Robotic Wheelchairs Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Robotic Wheelchairs Market
9. China Robotic Wheelchairs Market
10. India Robotic Wheelchairs Market
11. Japan Robotic Wheelchairs Market
12. Australia Robotic Wheelchairs Market
13. Indonesia Robotic Wheelchairs Market
14. South Korea Robotic Wheelchairs Market
15. Western Europe Robotic Wheelchairs Market
16. UK Robotic Wheelchairs Market
17. Germany Robotic Wheelchairs Market
18. France Robotic Wheelchairs Market
19. Italy Robotic Wheelchairs Market
20. Spain Robotic Wheelchairs Market
21. Eastern Europe Robotic Wheelchairs Market
22. Russia Robotic Wheelchairs Market
23. North America Robotic Wheelchairs Market
24. USA Robotic Wheelchairs Market
25. Canada Robotic Wheelchairs Market
26. South America Robotic Wheelchairs Market
27. Brazil Robotic Wheelchairs Market
28. Middle East Robotic Wheelchairs Market
29. Africa Robotic Wheelchairs Market
30. Robotic Wheelchairs Market Competitive Landscape and Company Profiles
30.1. Robotic Wheelchairs Market Competitive Landscape
30.2. Robotic Wheelchairs Market Company Profiles
Honda Motor Co. Ltd. Panasonic Corporation Ottobock SE & Company Invacare Corporation Permobil Inc.
31. Robotic Wheelchairs Market Other Major and Innovative Companies
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
32. Global Robotic Wheelchairs Market Competitive Benchmarking
33. Global Robotic Wheelchairs Market Competitive Dashboard
34. Key Mergers and Acquisitions in the Robotic Wheelchairs Market
35. Robotic Wheelchairs Market Future Outlook and Potential Analysis
35.1 Robotic Wheelchairs Market in 2028 - Countries Offering Most New Opportunities
35.2 Robotic Wheelchairs Market in 2028 - Segments Offering Most New Opportunities
35.3 Robotic Wheelchairs Market in 2028 - Growth Strategies
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Robotic Wheelchairs Market
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