Press release
Global Robotic Wheelchairs Market to Reach $18.58 Billion by 2029, Growing at 8.62% CAGR
Robotic Wheelchairs
The growing patient pool is expected to propel the growth of the robotic wheelchair market. The rising number of patients is influenced by factors such as population growth, aging demographics, and better access to healthcare. Robotic wheelchairs enhance mobility for patients with physical limitations, providing independence. In May 2023, the American Hospital Association reported that U.S. hospital admissions reached 34,011,386 in 2023, up from 33,356,853 in 2022. Therefore, the expanding patient pool is driving the growth of the robotic wheelchair market.
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What is the future CAGR of the robotic wheelchairs market, and how will it impact industry expansion?
The robotic wheelchairs market has shown strong growth. It will grow from $12.27 billion in 2024 to $13.35 billion in 2025, with a CAGR of 8.8%. The growth is attributed to greater awareness of mobility solutions, R&D investments in advanced mobility devices, rising healthcare expenditures, growing urban populations, and improvements in insurance policies.
The robotic wheelchair market is expected to see strong growth, reaching $18.58 billion by 2029 at a CAGR of 8.6%. The growth will be supported by the development of new infrastructure, e-commerce growth, and advancements in wheelchair safety and features. Major trends will include improvements in battery technology, the development of eco-friendly designs, and the use of advanced mapping technologies.
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What are the most significant trends transforming the robotic wheelchairs market today?
Major 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 people with disabilities. These power wheelchairs offer automated navigation and flexibility. For example, in January 2024, Robooter, a US-based company, introduced its X40 power wheelchair at CES 2024 in Las Vegas. The X40 features omnidirectional wheels, remote control, and customizable speed settings, providing a smooth operation on various terrains and enhancing the user's mobility.
Which key market segments comprise the robotic wheelchairs market and drive its revenue growth?
The robotic wheelchairs market covered in this report is segmented -
1) By Wheelchair: Rear-Wheel Drive, Front-Wheel Drive, Mid-Wheel Drive
2) By Application: Personal Use, Commercial Use
3) By Distribution Channel: Home Care Settings, Rehabilitation Centers, Online Sales Channel, Other Channels
Subsegments:
1) By Rear-Wheel Drive: Standard Rear-Wheel Drive Wheelchairs, Robotic Rear-Wheel Drive Wheelchairs
2) By Front-Wheel Drive: Standard Front-Wheel Drive Wheelchairs, Robotic Front-Wheel Drive Wheelchairs
3) By Mid-Wheel Drive: Standard Mid-Wheel Drive Wheelchairs, Robotic Mid-Wheel Drive Wheelchairs
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What regions are at the forefront of robotic wheelchairs market expansion?
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.
Who are the leading players fueling growth in the robotic wheelchairs market?
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
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What Is Covered In The Robotic Wheelchairs Global Market Report?
•Market Size Forecast: Examine the robotic wheelchairs market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the robotic wheelchairs market for a structured understanding.
•Key Players Overview: Analyze major players in the robotic wheelchairs market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the robotic wheelchairs market.
•Segment Contributions: Evaluate how different segments drive overall growth in the robotic wheelchairs market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the robotic wheelchairs market.
•Industry Challenges: Identify potential risks and obstacles affecting the robotic wheelchairs market.
•Competitive Landscape: Review strategic developments in the robotic wheelchairs market, including expansions, agreements, and new product launches.
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