Personal Mobility Devices Market Is Expected To Reach USD 12,864.3 Mn By 2024| Credence Research

The latest market report published by Credence Research, Inc. “Global Personal Mobility Devices Market – Growth, Future Prospects, Competitive Analysis, and Forecast, 2016 – 2024”, the market for personal mobility devices was valued at USD 6,564.1 million in 2015 and is expected to reach USD 12,864.3 million by 2024, increasing to CAGR by 7.4 per cent from 2016 to 2024.

Market Insights

Personal mobility devices shall refer to any assistive device that facilitates individual human transportation. Although many of these devices are used by people with disabilities or mobility limitations, mobility aids can be used in general. Growing geriatric population and increasing prevalence of target bone diseases such as arthritis and osteoporosis among the elderly are key factors driving market growth during the forecast period. In addition, innovations in personal mobility devices and market penetration in developed countries would further fuel the market for personal mobility devices during the forecast period.

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Based on the type of products, the market for personal mobility devices is categorized as wheelchairs, scooters, walking aids, patient lifts and stair lifts. The wheelchair segment accounted for the largest share of the global market for personal mobility devices. High utilization rates and increasing demand for powered wheelchairs and their increasing implementation in home use, hospitals, airports, hotels and other public places are key factors contributing to the overall market growth of the wheelchair segment. However, the walking aid segment is expected to achieve significant growth in the near future due to the growing popularity of three-and four-wheel rollers.

North America formed the largest market for personal mobility devices at its base in 2015. The factors driving North America’s personal mobility device market are the presence of supportive government and reimbursement schemes, the development of healthcare infrastructure and the growing geriatric population in the region, which are driving North America’s personal mobility device market. Asia Pacific is expected to have the fastest growth rate in the forecast period. The large presence of untapped opportunities in the emerging markets of India and China and the continuous improvement of healthcare infrastructure in these markets are some of the attributes of the above conclusion. Moreover, increasing geriatric population in China and Japan and increasing disposable incomes, increasing awareness and expenditure on healthcare and the presence of government initiatives aimed at improving access to healthcare in the region are also expected to fuel the market during the forecast period.

Market Competition Assessment:

The personal mobility devices market is observed as the competitive market comprising large number of local players.  The market is dominated by several players, depending on their major competencies.

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Key Market Movements:

  • Growing geriatric population resulting in the rising in the bone diseases such as osteoporosis and arthritis
  • Developing technologically advanced, compact and portable personal mobility devices
  • Some major restrains for personal mobility devices market is the maintenance and purchasing cost

List of Companies Covered:

  • Carex Health Brands, Inc.
  • Drive Medical Design & Manufacturing
  • Graham-Field Health Products Inc.
  • Invacare
  • Kaye Products
  • Briggs Healthcare (MABIS)
  • Medline
  • Nova Medical
  • Patterson Medical
  • Garden City Medical, Inc. (Proboscis)
  • Rollz
  • Topro
  • Eurovema AB (Volaris)
  • Dana Douglas
  • ETAC
  • Airgo
  • Better Medical Technology Co. Ltd
  • Pride Mobility Products Corporation
  • Sunrise Medical LLC63
  • Permobil AB.64
  • Hill-Rom Holdings, Inc.

Market Segmentation

By Product Type

  • Wheelchairs
    • Manual Wheelchairs
    • Powered Wheelchairs
  • Scooters
  • Walking Aids
    • Canes & Crutches
    • Rollators
  • Patient Lifts
  • Stair Lifts

By Geography Segment Type

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

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