The personal mobility devices market size is currently valued at around US$ 12 Billion, and is predicted to increase at a healthy CAGR of 6% to reach US$ 19 Billion by 2030. The market is expected to witness high demand for canes, crutches, wheelchairs, and other devices. Besides this, experts at FMI forecast the sales of mobility scooters to surge, driven by the increasing demand for innovative modes of transport.
Personal mobility devices are in high demand especially among people facing disability or impaired mobility. Heath issues such as physical disabilities, osteoarthritis or fracture can restrict the ability of movement in a person. Personality mobility devices are often used to assist in movement of such individuals.
According to a study conducted by the World Health Organization, the population of people aged 60 years and higher is expected to total 2 billion by 2050, up from 900 million in 2015. It is a known fact that aged population are more vulnerable to diseases and health concerns, which may result in disability.
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As per the Centers for Disease Control and Prevention (CDC), in the U.S. alone nearly 54.5 million people were affected by arthritis between 2013 and 2015. Globally, the number of people reporting disability or activity limitation is increasing. This connotes that it is more likely for the demand for personal assistive mobility devices to surge in the forthcoming years.
Future Market Insights offers insights into key factors prevailing in the market. Some of these are:
- Driven by higher demand for assistive technologies, the market is forecast to surpass US$ 12 Bn by 2020
- An increasing number of companies are expected to focus on developing novel products with enhanced features. There will be ample focus towards making these products more affordable to ensure their better accessibility across the world
- East Asia and South Asia are expected to demonstrate high demand for personal mobility devices backed by the presence of a sophisticated healthcare infrastructure
- Penetration in consumer markets key to succeed in personal mobility device market
- Manufacturers of personal mobility devices are moving close to customer vicinity by moving to rapidly growing sales platforms
- Favorable reimbursement policies on purchase and rental of personal mobility devices will aid expansion of the market in the coming years
Who is winning in Personal Mobility Devices Market ?
Global personal mobility devices market is characterized with sizable presence of large MNCs as well as small star-ups. Concentration of these companies are evenly distributed in Europe, North America and East Asian tech-backed countries.
Some of the leading players operating in the global personal mobility devices market are Stryker Corporation, Invacare Corporation, GF Health Products Inc., Arjo AB, Compass Health Brands, Pride Mobility Products Corporation, Permobil Company, Hill-Room Holdings Inc., Klaxon Mobility GmbH, Briggs Medical service Company, Eurovema Mobility AB, Ottobock Holdings GmbH & Co. KG, Sunrise Medical LLC, TOPRO Ltd., and Drive Medical GmbH & Co. KG, and others.
Acquisition is an important strategy adopted by some of the leading companies operating in the market. For instance in 2017, Permobil Company acquired Comfort Company, which specialized in seating and positioning of mobility devices to expand their service offerings.
In 2020, the company also announced that it is planning to acquire Supportec B.V, a Dutch manufacturer to further expand its seating and positioning solutions.
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Personal Mobility Devices Market Key Segment
Product Type
- Walking Aids
- Mobility Scooters
- Medical Beds
- Wheelchairs
- Others
End-user
- Hospitals & Clinics
- Long Term Care Centres
- Households
- Others
Sales Channel
- Wholesalers/Distributors
- Online Retailers
- Multi-brand Stores
- Specialty Stores
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- MEA
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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