Global Personal Mobility Devices Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Personal Mobility Devices market is estimated to be valued at US$ XX Mn in 2020 and is projected to reach a value of US$ XXX Mn in 2028. The global personal mobility devices market report is a compiled study by expert team and offers holistic view of the target market. The report covers ongoing trends and potential scope of the devices, along with competitive analysis in order to study the market, presence of major players, financial facts, recent developments, SWOT Analysis, market landscape. Also, strategic mergers & acquisitions, collaborations, joint ventures, product launches, pipeline product details, etc. The global personal mobility devices market report has been segmented on the basis of product, end user, and region.
Product Overview: Personal Mobility Devices
Personal mobility devices are basically medical devices that help individuals with physical disabilities or geriatric population to assist in moving from one place to another with using anyone’s help. These types of devices are designed for mobility, and can be manually handled or are battery-powered. Personal mobility devices provide independence to people with disabilities to perform basic activities.
Rising geriatric population and rising prevalence of age-related diseases, increasing number of disabled population across the globe, and rising prevalence of osteoporosis and rheumatoid arthritis are some of the major factors anticipated to drive demand for personal mobility devices and drive the global personal mobility devices market growth. In addition, favorable reimbursement policies for purchase and rental of personal mobility devices for enhancing lifestyle of disabled people, especially in various developed countries is another factor anticipated to drive growth of the target market over a long period of time.
However, high price of personal mobility products, and lack of awareness about functionality of the devices, lack of training provisions are some of the major factors that could restrain growth of the global personal mobility devices market. In addition, low acceptance of digitalized devices certain in developing and under-developed countries, and certain product recalls by FDA are other major factors that could hamper growth of the target market.
Nevertheless, if the companies focus on providing training to personal mobility device users, and offer after-sales services, it is expected to create opportunities for manufacturers operating in the global market with regards to large customer base and revenue growth.
Among the product segments, the wheelchairs segment is projected to register highest growth rate in the global market in the next 10 years. Increasing number of people affected with various forms of disability such as physical injury, aging or diseases and disorders, spinal cord injuries, workplace injuries, and road accidents is estimated to drive growth of the segment in the global market. In addition, growing demand for technologically advanced and electric-powered wheelchairs such as they are easy to drive and provide better outdoor mobility to users is another factor anticipated to support growth of the segment in the target market.
By End User:
Among the end user segments, the hospital segment is anticipated to account major share in terms of revenue of the global target market. This can be attributable to increasing government initiatives to provide facilities in the hospitals, rising number of footfalls, and favorable insurance policies available in the hospitals.
The North America market is accounted for major share in terms of revenue in the global personal mobility devices market in 2018 and is projected to register considerable growth rate over the forecast period. This can be attributable to high spending capacity of individuals, and growing demand and need for assistive equipment by obese population and people with special needs. For instance, according to data published in an article by Human Resources and Skills Development Canada, around 14.3% of population has disabilities and related-disorders of eyesight, hearing, and motion impairment. The government of Canada has formed Disability Tax Credit Certificate that allows disabled people to pay minimal or no tax.
The Europe personal mobility market is expected to account for second-highest revenue share in the global market and is projected to grow at moderate rate in next 10 years in the target market. This is due to increasing prevalence of lifestyle-related diseases, increasing number of accidents and injuries, and rising number of individuals with special requirements. For instance, according to a report published by European Commission, around 80 Mn people suffer from physical disability.
The Asia Pacific market is expected to register the highest CAGR over the forecast period owing to rapidly developing healthcare infrastructure, and increasing awareness about advanced medical devices.
Global Personal Mobility Devices Market Segmentation
Segmentation by Product:
- Walking Aids
- Premium Rollators
Segmentation by End User:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Argo Medical
- Hill-Rom Holdings Inc.
- GF Health Products, Inc.
- Amigo Mobility International Inc.
- Invacare Corporation
- Medical Depot, Inc.
- Sunrise Medical
- Pride mobility
- Briggs Healthcare Home
- Kaye Products
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