Industry Analysis & Industry Trends
Favorable demographic changes will benefit the industry, with demand for wheelchairs growing as a result of a greater need among older baby boomers. While input costs will remain high, they will not shift as drastically as in the previous five-year period. Nevertheless, fluctuations in research in development contribute to decreased revenue, as a result of the industry's reliance on advances in technology.
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Industry Report - Starting a New Business Chapter
The threat of new entrants into the Wheelchair Manufacturing industry is moderate. Often, companies that enter the industry have already developed durable medical equipment and want to diversify their product line.
In this industry, most medical supplies are manufactured under patents. This aspect acts as a barrier to entry into certain markets where patented products exist. Operators entering the industry need to either acquire a company that holds a patent or engage in costly R&D activity to manufacture a product that can compete without infringing upon their competitors’ intellectual property.
The cost of insurance against product liability claims may also deter entry to the industry... purchase to read more