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LONDON, GREATER LONDON, UNITED KINGDOM, September 19, 2024 /EINPresswire.com/ -- The robotic wheelchairs market has experienced robust growth in recent years, expanding from $11.3 billion in 2023 to $12.27 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to growing awareness about mobility solutions, investments in research and development of advanced mobility devices, rising healthcare expenditure, growing urban populations, and Improve insurance policies covering.
What Is The Estimated Market Size Of The Global Robotic Wheelchairs Market And Its Annual Growth Rate?
The robotic wheelchairs market is projected to continue its strong growth, reaching $17.13 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to development of infrastructure, growth of e-commerce platforms, enhance safety features, increasing focus on rehabilitation, and focus on remote health monitoring features in wheelchairs.
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Growth Driver Of The Robotic Wheelchairs Market
The rising patient pool is expected to propel the growth of the robotic wheelchair market going forward. The patient pool refers to the total number of patients or individuals within a specific demographic or healthcare setting who require medical care or attention. The rising patient pool is driven by factors such as population growth, aging demographics, and increased access to healthcare services. Robotic wheelchairs provide patients with enhanced mobility and independence, enabling them to navigate their environments with adaptive technology that compensates for physical limitations.
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Which Market Players Are Driving The Robotic Wheelchairs Market Growth?
Key players in the tem market include 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.
What Are the Key Trends That Influence The Robotic Wheelchairs Market Size?
Major companies operating in the robotic wheelchairs market are developing power wheelchairs with advanced features such as AI integration and autonomous navigation to improve mobility and independence for individuals with disabilities. Power wheelchairs are electrically powered mobility devices that assist individuals with mobility impairments by providing independent mobility.
How Is The Global Robotic Wheelchairs Market 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
Geographical Insights: North America Leading The Robotic Wheelchairs Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Robotic Wheelchairs Market Definition
Robotic wheelchairs are motorized mobility devices equipped with advanced technologies that assist users in navigating their environment. These technologies can include robotics for autonomous navigation, sensors for obstacle detection, and artificial intelligence (AI) for adaptive control and interaction. The primary purpose is to enhance the mobility, independence, and quality of life for individuals with physical disabilities or mobility impairment.
Robotic Wheelchairs Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global robotic wheelchairs market report covering trends, opportunities, strategies, and more
The Robotic Wheelchairs Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on robotic wheelchairs market size, robotic wheelchairs market drivers and trends, robotic wheelchairs market major players and robotic wheelchairs market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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