In terms of revenue, the global personal mobility devices market is projected to expand at a CAGR of 7.2% during the forecast period 2020 to 2027 and expected to reach US$ 18 billion by 2027.
The report analyzes and forecasts the personal mobility devices market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global personal mobility devices market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the personal mobility devices market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of personal mobility devices market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
High Demand for Medical Mobility Aids & Ambulatory Devices
The medical mobility aids & ambulatory devices segment accounted for the largest share of the global personal mobility devices market in 2019. The segment is projected to dominate the global personal mobility devices market from 2020 to 2027, gaining market share by 500 basis points. The medical mobility aids & ambulatory devices segment comprises devices meant primarily for outdoor use, such as wheelchairs, scooters, canes & crutches, and walkers. Additionally, the segment is expected to expand at a higher CAGR in the personal mobility devices market during the forecast period. The segment’s dominance is attributed to the increase in geriatric and disabled populations, driving the demand for mobility devices such as wheelchairs and mobility scooters. However, the high cost of some of these devices is likely to restrain the segment in the developing and underdeveloped countries, in the personal mobility devices market.
Wheelchairs Prominent among Medical Mobility Aids & Ambulatory Devices
The wheelchairs sub-segment dominated the medical mobility aids & ambulatory devices segment, accounting for significant share of the personal mobility devices market in 2019. The global geriatric population is anticipated to increase at a significant pace in the next few years. This is expected to drive the demand for wheelchairs. These chairs are equipped with various other features such as bags and accessories holders. The wheelchairs sub-segment has been classified into manual and electric. Mobility scooters was the second largest sub-segment of the medical mobility aids & ambulatory devices segment. The wheelchairs sub-segment is projected to grow at a faster pace than the mobility scooters sub-segment in the personal mobility devices market during the forecast period. This is attributed to the high cost of mobility scooters as compared to wheelchairs. Additionally, the target population in anticipated to use cars and other transport vehicles for long-distance journeys. This is likely to restrain the usage of mobility scooters.
Medical Beds with a Significant Share in Medical Furniture & Bathroom Safety Products
Medical furniture and bathroom safety products comprise devices such as patient lifts, stair lifts, medical beds, bars & railings, and commodes & shower chairs. The medical beds sub-segment dominated the medical furniture & bathroom safety products segment in the personal mobility devices market in 2019. Medical beds are meant for comfort and well-being of the disabled or chronically ill, and elderly people, as well as for the convenience of their caregivers. Medical beds are equipped with various features such as adjustable height, pillow lifts, chair beds, and rope ladders. Additionally, these beds are integrated with pressure reducing mattresses, lifting poles, reading stands, and bed tables. Medical beds are classified in two types: electric beds and manual beds. Factors such as rise in affordability of patients and increase in the number of hospitals are expected to fuel the growth of the sub-segment in the near future. However, the stair lifts sub-segment is expected to expand at a higher CAGR in the personal mobility devices market during the forecast period. The segment’s dominance is attributed to the increase in the use of stair lift devices, as this is an effective solution for people with mobility restrictions who cannot climb staircases at home.
Asia Pacific to Create High Incremental Opportunity
In terms of revenue, North America is projected to dominate the global personal mobility devices market from 2020 to 2027. This can be ascribed to a large geriatric population in the region requiring mobility aid devices. According to the Population Reference Bureau, the number of people aged above 65 years is likely to more than double from 45 million in 2019 to 98 million by 2060.
The personal mobility devices market in Asia Pacific is expected to expand at a relatively high CAGR during the forecast period, owing to increasing focus on the development of healthcare infrastructure by public as well as private hospitals, and rise in the demand for affordable care in a significant share of the patient population. Additionally, wide scope of development and rapid urbanization offer significant opportunities to emerging as well as established players in the region. This, in turn, drives the mobility aid devices market in Asia Pacific.
Investments and Mergers & Acquisitions by Key Players to Drive Market
The report provides profiles of the leading players operating in the global personal mobility devices market. Drive DeVilbiss Healthcare, GF Health Products, Inc., Invacare Corporation, Hill-Rom Holdings, Inc., Ottobock, Stryker Corporation, and Permobil (Patricia Industries) are the major players operating in the global personal mobility devices market. These players have adopted strategies such as mergers & acquisitions and investment to increase their share and presence in the global personal mobility devices market.
Reasons to Purchase this Report:
- Estimates 2019-2026 personal mobility devices market development trends with the recent trends and SWOT analysis
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Segmentation:
Personal Mobility Devices Market by Product
Personal Mobility Devices Market by Region
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers