Global Mobility Devices Market Size To Grow At A CAGR Of 6.70% In The Forecast Period Of 2023-2028
The ‘Global Mobility Devices Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global mobility devices market, assessing the market on the basis of its segments like product, end-user, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Mobility Devices Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.70%
Mobility devices are widely used by geriatrics who tend to become weaker with age and thereby seek support for movement and performing day-to-day physical tasks. In such cases, mobility devices help the aged maintain their independence and flexibility of movement. Therefore, increasing ageing population is expected to drive the growth of the mobility devices market.
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Rising cases of accidents and disability are further bolstering the mobility devices market. Mobility impairment has also become prevalent among people all around the globe. Cases of arthritis, muscular dystrophy, spinal cord injuries, chronic pain, and cerebral palsy is commonly found among all ages worldwide increasing the demand for advanced mobility devices. The growing prevalence of road accidents, falls, and sports injuries may also result in a temporary need for a mobility device so that injuries are not strained during the healing process.
The availability of a variety of mobility devices such as walkers, rollators, wheelchairs, and scooters, among others, provide people with mobility issues numerous options to choose from. Based on personal preference and medical need, a particular mobility device may be more suitable than others. Development of new mobility devices that are lightweight, strong, and able to navigate difficult terrains are likely to catalyse the market in the coming years.
Mobility Devices Industry Definition and Major Segments
A mobility device or mobility aid is a piece of equipment used to help in the mobility of the disabled individuals or those facing difficulty in movement, providing with a greater access to movement. There are various types of mobility devices such as canes, wheelchairs, walkers, rollators, and mobility scooters. These devices prevent strain on the individual, help in movement, and provide safety, increasing their independence.
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Based on product, the market can be segmented into:
- Walking Aids
On the basis of end-user, the market can be classified into:
- Hospitals and Clinics
- Long Term Care Centres
Based on region, the market can be categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Mobility Devices Market Trends
The key trends in the global mobility devices market include the rising demand for technologically advanced mobility devices due to prevalence of chronic diseases which could ether be a result of an injury, accident, or congenital. Several key players are conducting increased research and development activities to improve the comfort and mobility of patients with improved mobility devices.
Introduction of new mobility devices such as lightweight wheelchairs, automated rollators, and transfer lifts are supporting the expansion of the market for mobility devices, and are expected to support market growth in the forecast period as well. Due to growing prevalence of accidents, congenital deformities, and mobility dependence, the demand for wheelchairs has increased. Advancements in wheelchairs and lowered costs will largely help in the growth of the market in the middle-, and low-income regions as well.
North America has held a large share in the mobility devices market owing to the presence of a number of patients suffering from mobility impairment disorders and also due to growing geriatric population in the region. Major key players present in countries such as the United States are engaged in the development and distribution of the mobility devices which is expected to further enhance the growth of the market.
Key Market Players
The major players in the global mobility devices market report are:
• Invacare Corporation
• Sunrise Medical
• Pride Mobility Products Corporation
• Permobil Inc.
• MEYRA GmbH
• GF Health Products Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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