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How Much Revenue Robotic Wheelchairs Market Will Generate Globally Till 2025? |Grand View Research, Inc.

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How Much Revenue Robotic Wheelchairs Market Will Generate Globally Till 2025? |Grand View Research, Inc.

The global robotic wheelchairs market size is expected to reach a value of USD 142.6 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.4% over the forecast period. Growing need for independent mobility assistance by the geriatric population with moving disabilities is expected to drive the market. Moreover, rising spending power among the consumers, along with introduction of technologically advanced mobility products by the companies, is expected to drive the market.

Growing penetration of robotic wheelchairs as an artificial assistance due to advanced features such as navigation, detecting obstacles, sensor technology, and artificial intelligence. Presence of people with physical ailments or loss of mental control is expected to increase the demand in the market. According to the Journal of Rehabilitation Research and Development, the NavChair is an assistive navigation system developed with a mobile robot i.e. vector field histogram to avoid obstacles, follow walls, and travel safely.

In 2018, the residential application segment held the largest share of 82.9%. Application of manual wheelchairs for daily life activities increases the dependency level on others. For instance, Toyota, as a part of an agreement with DEKA Research and Development, is making the iBot wheelchairs for climbing stairs. The commercial application segment is expected to expand at a CAGR of 10.8% over the forecast period. Smart future urban mobility research group developed smart wheelchairs that can be used at airports and hospitals.

Retail distribution held the largest share of 82.5% in 2018. Reliability of the product is considered to be high in retail stores than other modes of distribution channel. In addition, e-commerce distribution mode is expected to register the fastest CAGR of 11.0% over the forecast period. Ease of accessibility throughout the world for the best smart wheelchairs is a key factor expected to drive the channel over the forecast period. Many companies have their own online platforms and some of them are tying up with others.

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North America emerged as the largest regional market with a value of USD 25.0 million in 2018. The region is expected to maintain its lead over the forecast period. Reimbursement of insurance claims, growing aging population, and technological advancements are driving the market. For instance, Massachusetts scientist, Matt Walter and PhD candidate, Sachi Hemachandra launched a voice controlled robotic wheelchair for elder care. Similarly, Invacare Corporation launched a wheelchair with a special technology called G-trac technology for better control system.

Robotic Wheelchairs Market Report Highlights

The residential application segment held a dominant share of 82.9% in 2018

North America dominated the market in 2018 with a value of USD 25.0 million in 2018. This trend is projected to continue over the next few years

Asia Pacific is anticipated to witness high demand on account of increase in requirement for independent mobility

The robotic wheelchairs market is highly competitive in nature with the main players including Invacare Corporation, Permobil Corporation, Meyra GmbH, and Karman Healthcare

Various manufacturers are concentrating on new product launches and capacity expansion in order to estimate existing and future demand patterns from upcoming product segments.

Companies are integrating with universities and startups to develop something advance to cater to the needs of the vast consumer base. For instance, Intel collaborated with Brazilian startup Hoobox Robotics to develop a smart wheelchair “wheelie”, which has an access to read facial expressions as human behavior.

Key players in the market include Sunrise Medical LLC; Invacare Corporation; Permobil Corporation; Meyra GmbH; Karman Healthcare; Ottobock SE& Company; Matia Robotics; Upnride Robotics; DEKA Research & Development; and Whill Inc.

Manufacturers are increasingly focusing on the research and development activities to develop smart and advanced features to assist people with moving disabilities. These initiatives are expected to result in increased application of robotic wheelchairs. For instance, Whill Inc. provides a wheelchair model M for residential purpose, along with its California partner. The product is equipped with 5D robotics software and hardware that collects data with the help of GPS and LiDar sensor attached to it.

Integration of advanced technology in powered wheel chairs has introduced robotic features to the product. Upgraded features such as internet of things, navigational mapping, and sensors are some of the benefits in these wheelchairs. To promote free mobility assistance, companies are coming up with wheelchairs equipped with robotic features. For instance, the Central Mechanical Engineering Research Institute under the Council of Scientific and Industrial Research developed an autonomous intelligent robotic wheelchair with features such as motorized automatic braking, autonomous path planning, obstacle detection capability, floor level detection, and small turning radius for mobility.

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Countries such as U.K, Germany, India, and China are witnessing a significant demand for robotic wheelchairs owing to growing geriatric population, high purchasing power, and technological advancements. According to the National Technical University of Athens, technology initiative taken by companies for disabled and elderly in Europe is focusing on autonomous robotic wheelchairs with the help of various projects such as the MANUS project for everyday tasks and the smart wheelchair project for commercial applications.

Independent mobility, aging population, accident victims, and people in need of mobility assistance are anticipated to drive the demand for robotic wheelchairs over the forecast period. Companies are comping up with new developments in the market. For instance, Magic Mobility launched Extreme X8, Frontier V6, and pediatric wheelchairs that are hybrid in nature due to articulated frame technology used in manufacturing of these robotic wheelchairs that provides rehab positions and compatibility with both indoor and outdoor purposes. Similarly, Invacare launched pediatric wheelchairs such as pronto M71 jr, Power tiger, and MK6i Electronics. In addition, Toyota Motor East Japan, Inc. launched patrafour with special front wheel and all-wheel drive design. Some of the prominent players in the robotic wheelchairs market include:

Sunrise Medical LLC

Invacare Corporation

Permobil Corporation

Meyra GmbH

Karman healthcare

Ottobock SE & Company

Matia Robotics

Upnride Robotics

DEKA Research & Development

Whill Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com

 

 

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