The global mobility aids and transportation equipment market is poised for remarkable growth, with the market expected to reach a valuation of USD 6,318 million by the end of 2023. According to industry projections, this upward trend is set to continue at a compound annual growth rate (CAGR) of 6.1%, positioning the market to achieve a value of approximately USD 11,638.91 million by 2033.
The anticipated growth reflects increasing demand for advanced mobility solutions, driven by an aging global population, rising incidences of mobility-related disabilities, and heightened focus on accessibility and quality of life improvements. With continuous innovations in mobility aids and transportation equipment, the industry is set to offer enhanced products that promote independence and convenience for users across the globe.
The study offers a detailed analysis of dynamics including drivers, restraints, opportunities, and challenges, and also highlights their consequent impact on the market.
Advent of Telehealth and Virtual Care to Create Tailwind for the Mobility Aids And Transportation Equipment Market Growth
Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.
During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.
Since the outbreak, telehealth has gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Mobility Aids And Transportation Equipment market.
Key Mobility Aids And Transportation Equipment Market Takeaways and Projections
- The U.S. is estimated to continue dominating the North American market, projecting the fastest growth in the region through 2031.
- Germany’s Mobility Aids And Transportation Equipment market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2021 and 2031.
- China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
- India is forecast to emerge as a highly remunerative market in South Asia, contributing to the largest sales in the region over the coming 10 years.
Report Benefits & Key Questions Answered
- Mobility Aids And Transportation Equipment Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Mobility Aids And Transportation Equipment market. It also studies the impact of these dynamics on the market for the previous assessment period 2016-2020 to forecast the scope of market growth over the coming forecast period 2021-2031.
- Mobility Aids And Transportation Equipment Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Mobility Aids And Transportation Equipment market. As per the survey, Mobility Aids And Transportation Equipment sales will project steady growth over the forecast period.
- XZY Market Structure Analysis: The report provides detailed information about the market the concentration of key players and tier analysis in the Mobility Aids And Transportation Equipment market. It also categorizes market players as Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
- Mobility Aids And Transportation Equipment Category & Segment Level Analysis: FMI’s category & segment level analysis provides insights into key factors affecting the market growth across various segments in terms of (segment 1), (segment 2), and (segment 3). It also uncovers critical opportunities across each segment to assist key players in capitalizing on the,
- Mobility Aids And Transportation Equipment Market Trend Analysis: FMI’s market trend analysis provides compelling insights into current and upcoming trends in the healthcare industry. It also assists the industry players in identifying potential trends to formulate a strategy to take advantage of these existing trends.
Competitive Landscape Analysis
The latest study conducted by FMI provides in-depth insights into the global Mobility Aids And Transportation Equipment market to assist management-level decision-makers in constructing a strategy to capitalize on critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Mobility Aids And Transportation Equipment market.
Some of the prominent market players are profiled by FMI
- Sunrise Medical LLC,
- Invacare Corporation,
- OttoBock Healthcare GmbH,
- Stryker Corporation,
- Medline Industries,
- GF Health Products Inc.,
- Hoveround Corporation,
- LEVO AG,
- Permobil AB,
- Merivaara Corporation, and others.
The Mobility aids and transportation equipment global market is segmented into the following types:
- Manual Wheelchairs
- Manually Operated Wheelchairs
- Standard Manual Wheelchairs
- Pediatric Wheelchairs
- Electrically Powered Wheelchairs
- Stretchers
- Manual Stretchers
- Automated Stretchers
- Walking Aids
- Crutches
- Walkers
- Walker Cane Hybrids
- Gait Trainers
- Mobility Scooters
- Stair Lifts
Key Segments:
By Product Type:
- Manual Wheelchairs
- Electrically Powered Wheelchairs
- Stretchers
- Walking Aids
- Mobility Scooters
- Stair Lifts
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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