by According to Report, the mobility aid devices market size is expected to reach US$ 15.5 billion by 2030, expanding at a CAGR of 6% during the forecast period 2021 to 2030.
Increase in the geriatric population fuels the growth of the global mobility aid devices market. Population aged 65 years and above is anticipated increase rapidly in the next few years. According to the Journal of Aging Research, the geriatric population in the U.S. alone is expected to reach 87 million by 2050. Assistive technologies reduce difficulties in performing day-to-day activities. Increase in life expectancy has resulted in rise in demand for assistive mobility technologies. Moreover, economic growth, increase in adoption of technologically advanced products such as advanced powered wheelchairs for activities are expected to propel the global mobility aid devices market during the forecast period. Development of pneumatic wheelchairs and use of robotic technology present significant opportunities in the global mobility aid devices market. However, high cost of products such as powered wheelchairs and road mobility scooters is likely to restrain the market in developing regions.
Download Exclusive Sample of Report@ https://www.visionresearchreports.com/report/sample/38756
Table of Contents
Report Scope of the Mobility Aid Devices Market
| Report Coverage | Details |
| Market Size | US$ 15.5 Billion by 2030 |
| Growth Rate | CAGR of 6% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Companies Mentioned | Invacare Corporation, Sunrise Medical (US) LLC, Ottobock, Investor AB (Patricia Industries-Permobil), Medical Depot, Inc., Pride Mobility Products Corp., GF Health Products, Inc., Merits Co. Ltd., and MEYRA Group |
Rise in Disabled Population Propels Global Market
Assistive mobility devices including wheelchairs, scooters, canes, crutches, and walkers are effectively helping the disabled population alleviate the impact of mobility limitations, increase independence, increase efficiency in ambulation, and participation in social life. According to the U.S. Census Bureau report, about 40% population of the country is living with some or more form of disability. Among them, about 30 million people have difficulty in walking or climbing. Hence, demand for mobility assistive products such as wheelchairs, mobility scooters, walkers, and canes is likely to rise owing to increase in walking related disabilities.
Advancements in Technologies such as Self Driving Wheelchairs and Pneumatic Waterproof Powered Wheelchair to Boost Market
Increase in investments in research and development by leading players in the market is resulting in technologically superior products to help the elderly and disabled population. Moreover, economic growth, increase in purchasing power, and favorable reimbursements are anticipated to drive the adoption rate of these high value products across the globe. Innovative technologies in mobility aid devices are gaining popularity among the disabled population, as these have proven to improve the quality of life. Development of self-driving wheelchairs will benefit people with mobility challenges and is expected to be an opportunity for companies to drive revenue.
Mobility Aid Devices Market Report Highlights
The global mobility aid devices market has been segmented based on product and end-user.
In terms of product, the global market has been classified into wheelchairs, mobility scooters, walking aids, and mobility lifts. The wheelchairs segment held the largest share of the global market in 2020. The wheelchairs segment has been bifurcated into manual and powered. The powered sub-segment dominated the wheelchairs segment in terms of revenue in 2020 owing to advanced functions and high adoption among the patient population. The cost of powered wheelchairs is higher than manual wheelchairs.
However, rise in affordability for high cost medical technologies and favorable reimbursement are likely to boost the growth of the powered wheelchairs sub-segment. Demand for manual wheelchairs is projected to continue owing to benefits such as low cost and ease of availability. The mobility scooters segment is anticipated to expand at the highest CAGR during the forecast period, as these are the cheaper alternatives to powered wheelchairs.
In terms of end-user, the global mobility aid devices market has been classified into home care settings, hospitals & nursing homes, assisted living facilities, and others. The home care settings segment is expected to account for the largest market share during the forecast period, attributed to high personal applications of these products. Rise in demand for mobility aid devices has been observed in assisted living facilities such as old age homes, where elderly people and patients suffering from some or other disease such as osteoporosis, spine injury, and rheumatoid arthritis can benefit from these products.
In terms of region, the global mobility aid devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America dominated the global market in 2020 owing to presence of large geriatric population, rise in prevalence of lifestyle diseases, osteoporosis, and other autoimmune diseases leading to increased dependency on wheelchairs & mobility scooters; technological advancements in powered wheelchairs, rise in baby boomer population, and favorable policies for disabled population in the region. The U.S. dominated the market in North America in 2020 due to large baby boomer population and the trend is likely to continue during the forecast period. According to the U.S. Census Bureau estimates, all baby boomers are expected to be older than 65 by 2030.
The market in Asia Pacific is projected to expand at a high CAGR during the forecast period, owing to improving health care infrastructure, rise in acceptance of advanced wheelchairs, increase in disposable income, awareness about powered and new variants of wheelchairs, and investment by companies in the development of personal mobility aids. Furthermore, increase in the geriatric population is anticipated to boost the growth of the market in Asia Pacific in the near future. Government initiatives for providing assistive devices to the disabled population is also expected to propel the market during the forecast period.
Mobility Aid Devices Market Key Players
Key players in the global mobility aid devices market are Invacare Corporation, Sunrise Medical (US) LLC, Ottobock, Investor AB (Patricia Industries-Permobil), Medical Depot, Inc., Pride Mobility Products Corp., GF Health Products, Inc., Merits Co. Ltd., and MEYRA Group. These players focus on mergers and acquisitions and investment in the development of advanced versions of wheelchairs.
Read also @ Infusion Pumps Market Share Analysis Report By 2030
Mobility Aid Devices Market Segmentation
By Product
- Wheelchairs
- Manual
- Power
- Mobility Scooters
- Boot Scooter
- Midsize Scooter
- Road Scooter
- Walking Aids
- Canes
- Crutches
- Walkers
- Mobility Lifts
By End-user
- Home Care Settings
- Hospitals & Nursing Homes
- Assisted Living Facilities
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Buy this Research Report study@ https://www.visionresearchreports.com/report/cart/38756
Contact Us:
Vision Research Reports
Call: +1 9197 992 333
