TELESCOPIC RAMP MARKET ANALYSIS

Market Challenges And Opportunities

Telescopic Ramp Market Drivers

• Increasing Accessibility Needs: Telescopic ramps are essential for providing accessibility solutions to individuals with mobility challenges. They allow wheelchair users, the elderly, and people with disabilities to access buildings, vehicles, and other elevated areas easily. The increasing awareness and emphasis on inclusivity and equal access have led to a higher demand for telescopic ramps in various settings such as homes, public buildings, transportation, and healthcare facilities.

For instance, in 2022, the European Accessibility Act requires that specific everyday products and services be made accessible to individuals with disabilities. Its objective is to provide benefits to a minimum of 87 million people, encompassing older individuals and those with temporary impairments.

• Growing Aging Population: With the global population aging, there is a growing need for assistive devices and mobility aids. As the elderly population increases, the demand for telescopic ramps also rises, as they provide a safe and convenient solution for seniors to navigate through different environments. Telescopic ramps enable older adults to maintain their independence and participate fully in social and daily activities.

For instance, according to the United Nations Population Fund, Japan is expected to have more than 20% of its entire population aged 65 or older by the year 2023.

Telescopic Ramp Market Opportunities

• Growth of Emerging Markets: As accessibility awareness increases globally, there are significant opportunities in emerging markets where accessibility infrastructure is still developing. Countries with a rising middle class and growing urbanization present a vast potential market for telescopic ramps. These regions offer opportunities for manufacturers and suppliers to enter and establish their presence, catering to the increasing demand for accessibility solutions.

For instance, according to data from the Organization for Economic Co-operation and Development (OECD) in 2021, many Latin American and Asian countries have exhibited strong economic growth rates, suggesting their capacity to increase investment in assistive devices.

• Increasing Growth in Healthcare Sector: The healthcare sector provides significant opportunities for the telescopic ramp market. Hospitals, clinics, rehabilitation centers, and other medical facilities require ramps to ensure easy access for patients, visitors, and healthcare professionals. With the rising demand for healthcare services, including home healthcare, there is a need for portable and adjustable telescopic ramps that can be used in various healthcare settings.

For instance, according to the World Health Organization (WHO), the period from 2015 to 2020 witnessed an annual average growth of 3.26% in the proportion of the global population aged 60 and above.

Telescopic Ramp Market Restraints

• Lack of Awareness and Education: Limited awareness and education about the benefits and availability of telescopic ramps can act as a restraint. Some individuals and organizations may not be fully aware of the options and features offered by telescopic ramps, leading to underutilization or reliance on less efficient alternatives. Increasing awareness through educational initiatives and outreach programs is crucial to overcome this restraint.

Counterbalance: During 2021, the government of Canada dedicated more than US$15 million to support awareness campaigns, community outreach efforts, and workshops aimed at advancing inclusion and enabling independent living for individuals with disabilities.

• Infrastructure Limitations: Existing infrastructure limitations can pose challenges for the widespread adoption of telescopic ramps. Buildings, public spaces, and transportation systems may not always be designed with accessibility in mind, making it difficult to install and use telescopic ramps effectively. Retrofitting existing infrastructure to accommodate telescopic ramps can be costly and logistically challenging, especially in older buildings or historical sites.

Counterbalance: As per World Bank data in 2022, more than half of train stations in developing countries do not have the necessary infrastructure to facilitate wheelchair accessibility for boarding. With a heightened focus on promoting disability inclusion, public transportation systems are facing growing demands to enhance their accessibility measures.