June 4, 2024

Personal Mobility Devices Market Size, Growth, Report by 2033

The global personal mobility devices market size was estimated at USD 11.35 billion in 2023 and is projected to rise around USD 21.95 billion by 2033, growing at a CAGR of 6.82% from 2024 to 2033.

Key Points

  • The North America personal mobility devices market size accounted for USD 4.09 billion in 2023 and is expected to attain around USD 8.01 billion by 2033, poised to grow at a CAGR of 6.95% between 2024 and 2033.
  • North America led the market with the biggest revenue share of 36% in 2023.
  • Asia Pacific is expected to expand at the fastest CAGR of 8.22% during the forecast period.
  • By product, the wheelchair segment held the largest revenue share of 47% in 2023.
  • By product, the scooter segment is expected to grow rapidly in the market during the forecast period.

Personal Mobility Devices Market Size 2024 to 2033

The Personal Mobility Devices Market encompasses a wide array of assistive devices designed to enhance mobility for individuals with disabilities or limited mobility. These devices range from traditional wheelchairs and walkers to modern innovations like mobility scooters, rollators, and electric wheelchairs. As the global population ages and the prevalence of disabilities increases, the demand for personal mobility devices continues to grow steadily.

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Growth Factors:

Several factors contribute to the growth of the Personal Mobility Devices Market. These include an aging population, rising incidence of disabilities, advancements in technology leading to more innovative and user-friendly devices, increased awareness about accessibility and inclusion, and favorable government initiatives promoting the adoption of assistive technologies.

Region Insights:

The demand for personal mobility devices varies across regions due to factors such as population demographics, healthcare infrastructure, regulatory environment, and socio-economic factors. Developed regions like North America and Europe typically have higher adoption rates due to better healthcare access and higher disposable incomes. However, emerging markets in Asia-Pacific and Latin America are witnessing rapid growth driven by improving healthcare infrastructure and increasing awareness about mobility aids.

Personal Mobility Devices Market Scope

Report Coverage Details
Personal Mobility Devices Market Size in 2023 USD 11.35 Billion
Personal Mobility Devices Market Size in 2024 USD 12.12 Billion
Personal Mobility Devices Market Size by 2033 USD 21.95 Billion
Personal Mobility Devices Market Growth Rate CAGR of 6.82% from 2024 to 2033
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

 

Personal Mobility Devices Market Dynamics

Drivers:

Key drivers fueling the growth of the Personal Mobility Devices Market include a growing aging population, rising prevalence of chronic diseases and disabilities, technological advancements leading to more efficient and user-friendly devices, increasing healthcare expenditure, and supportive government policies promoting accessibility and inclusion.

Opportunities:

The Personal Mobility Devices Market presents several opportunities for growth and innovation. These include the development of lightweight and portable devices for enhanced convenience, expansion into emerging markets with untapped potential, collaboration with healthcare providers and rehabilitation centers to improve access to mobility aids, and leveraging digital technologies like IoT and AI to create smart mobility solutions.

Challenges:

Despite its growth prospects, the Personal Mobility Devices Market also faces certain challenges. These include affordability concerns, especially in developing regions where access to healthcare services is limited, regulatory hurdles related to product safety and quality standards, stigma associated with using mobility aids, and lack of awareness about available solutions among both users and healthcare professionals.

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Personal Mobility Devices Market Recent Developments

  • In April 2024, United Airlines, a Chicago-based airline, introduced a new digital tool on its website and app that helps users who use wheelchairs locate flights that best suit their individual mobility device’s specifications. The airline further declared that if a customer needs to pay extra for a flight that can accommodate their wheelchair, they may request a refund of the fare difference.
  • In July 2023, In the quickly expanding e-mobility sector, the Chinese electronics giant Xiaomi has made a name for itself. Many of Xiaomi’s personal mobility products, like its electric scooters and bicycles, as well as its amusing vehicles like an electric go-kart and monowheel, are useful and entertaining for city inhabitants. In light of this, Xiaomi keeps adding to its already vast range of personal mobility gadgets. The company has introduced the Electric Scooter 4 Go, their newest scooter, in Europe.

Personal Mobility Devices Market Companies

  • Invacare Corporation
  • Pride Mobility
  • Kaye products
  • Briggs Healthcare
  • Carex Health brand
  • GF Health products
  • Ottobock
  • Permobil
  • Electric mobility
  • Euroverma
  • Medline industries
  • Rollz International
  • Stryker corporation

Segment Covered in the Market

By Product

  • Walking Aids
  • Wheelchairs
  • Scooters

By Geography

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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