Mobility assistance devices notably electric wheelchairs have made striking technological advancements, and have benefitted a range of needs in target consumers. The rise in incidence of people with physical impairments, coupled with improvements in control systems, is a key driver for evolution in the robotic wheelchairs market. Mobility, a key prerequisite for improved quality of life, has been a growing concern in elderly populations as well. Thus, the rapidly aging population in some economies has expanded the avenue for commercialization of robotic wheelchairs. In addition, the demand for robotic wheelchairs has been growing in commercial establishments, increasingly for individuals at airports, theatres, hospitals, and tourist places.
Aging Population Living Solitary Life Finds Robotic Wheelchairs Major Technology for Meeting Mobility Needs
Past few decades have seen continuous technological improvements in powered wheelchairs, which has enabled the healthcare industry to meet the changing demands for mobility solutions. Smart wheelchairs have gained popularity that coalesce the features of advanced electronics and the cutting-edge robotics. Various target populations have benefitted from these advances notably accident-led impairments and elderly people.
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The rapidly aging population in developed nations is a key trend shaping the current status of the robotic wheelchairs market product development. Market research on robotic wheelchairs find robotic companies fervently looking to develop new systems to improve the operation of electrical wheelchairs. A large chunk of elderly people who live solitary life finds that robotic wheelchairs play a key role in improving the quality of life in general. Reinforced by these trends, the market is anticipated to clock CAGR of 14.84 % from 2018 to 2026.
Presence of Elderly Populations Makes North America Lucrative Market
North America has been found to spawn massive revenues for robotic wheelchairs market players. The lucrativeness of the demand hinges on the massive demand for smart wheelchairs in elderly. Apart from the vast demand in elderly population, the regional market has benefitted from the growing incidence of physical impairments due to knee injuries, paralysis, obesity, and strokes. The regional market is expected to clock CAGR of 14.11% vis-a-vis value.
Asia Pacific is currently replete with abundant revenue potential for robotic wheelchairs market players.
Manufacturers Strive for Economies-of-scale to Spur Mass-scale Adoption
Market survey on the robotic wheelchairs finds that technological advances have propelled the growth of revenue potential. Motion control subsystems have made considerable advancements. Further, and more importantly, manufacturers in the robotic wheelchairs market have recently been intent on incorporating sensors and artificial intelligence. Sensors have been increasingly instrumental in overcoming the limitations of predecessors, and improving the mobility aspects. A range of sensors such as image, infrared, and sonar sensors can be used.
Next-gen technologies could greatly focus on integrating brain wave control and robotic arms with robotic wheelchairs. For instance, focus on IoT compatibility, and navigational mapping will help open up new opportunities in the global market.
However, manufacturers find tepid adoption rate of cutting-edge technologies. The high costs of production translate into exorbitantly high prices of their products, hampering the demand. Hence, market survey opines that a push toward economy of scale will help boost the uptake. Further, a massive boost for retailers might come through rapidly increasing penetration of e-commerce channel in the healthcare products.
In the coming years, the wide popularity of electric vehicles will help spur the awareness about new robotics technology among target customers. Stalwarts such as Google intend to come with artificial intelligence might attract consumers and encourage the creation of new avenues. Researchers are using requirements-based algorithms have allowed them develop wheelchairs that offer shared control systems. In coming years, technology companies will continue leveraging AI to add value to products.
Some of the key players keen on consolidating theirs shares in the robotic wheelchairs market are Ottobock SE & Co. KGaA., Karman Healthcare, Drive Devilbiss Healthcare, Permobil Corporation, and de Mobility Products Corporation.
The global robotic wheelchairs market has been segmented as follows
Robotic Wheelchairs Market, by Drive Type
- Rear Wheel Drive Robotic Wheelchairs
- Front Wheel Drive Robotic Wheelchairs
- Mid-wheel Drive Robotic Wheelchairs
Robotic Wheelchairs Market, by Application
Robotic Wheelchairs Market, by Distribution Channel
- Online Channel
- Offline Channel
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