Personal Mobility Devices Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Feb 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Personal Mobility Devices market size is expected to be worth around US$ 20.02 billion by 2030, according to a new report by Vision Research Reports.

The global Personal Mobility Devices market size was valued at US$ 11.8 billion in 2020 and is anticipated to grow at a CAGR of 5.10% during forecast period 2021 to 2030.

Growth Factors

Growing R&D investments for new product development and government initiatives aimed at strengthening reimbursement frameworks are some of the key factors propelling the market growth. The rising geriatric population and prevalence of target diseases, such as arthritis, Parkinson’s, and Alzheimer’s, are also expected to drive the market over the forecast period.

According to a report published by the WHO in 2020, the number of people aged 60 years and above is likely to grow by 56.0%, from 962 million in 2017 to 1.4 billion in 2030, thus showcasing the probable addressable market. Furthermore, the rising number of surgical procedures, due to growing cases of neurological & cardiovascular disorders and an increasing number of accidents and trauma cases, is contributing towards the market growth. Europe was the most matured regional market in 2020 and accounted for the largest revenue share of over 33%.

The regional market will retain its leading position throughout the forecast years. Sophisticated healthcare infrastructure and growing healthcare expenditure are some of the factors contributing to its large share. Asia Pacific is expected to register the fastest CAGR during the forecast period due to the rising demand for personal mobility devices as a result of the growing geriatric population and increasing disposable income & awareness levels. However, decreased production of these devices due to the Covid-19 pandemic has severely affected the industry growth. The prices of wheelchairs and have also dropped extremely.

Report Highlights

The wheelchair segment accounted for the largest revenue share of over 41% in 2020 and will retain the leading position throughout the forecast period. Wheelchairs are one of the most common assistive devices used in personal mobility. United Nations provides appropriate legislations for requesting member states in supporting the development, production, distribution, and servicing of these mobility devices. Provision of appropriate wheelchairs enhances mobility & quality of life, reduces common problems, such as progression of deformities & pressure sores, and improves digestion & respiration.

According to the data published by KD Smart Chair, the estimated number of wheelchair users in the U.S. was 3.3 million in 2020, which is 1% of the total population. There are approximately 2 million new users every year, which translates to increased demand for wheelchairs in the country. Powered wheelchairs emerged as the largest sub-segment, in terms of revenue, in 2020. The rapidly increasing global geriatric population and growing penetration of powered wheelchairs are the key factors responsible for the growth of this sub-segment.

The WALKING AIDS segment is anticipated to register a significant CAGR of 5.7% over the forecast period. According to the estimates published by the WHO in 2011, approximately 18% of the population experienced moderate, extreme, or severe difficulty when walking. With the rising population, this number is expected to continue growing, which, in turn, will boost the demand for walking aids. The segment is further divided into rollators and others, which include canes, crutches, and walkers. Rollators are bifurcated into premium and low-cost rollators.

Advanced features in premium rollators, such as laser attachment for assisting Alzheimer’s patients, lockable wheels, oxygen tank holders, hemiplegic handles, light frame, larger wheel diameter, pressure brakes, and extended weight-bearing capacity, boost the demand for these devices. Increasing disposable income and quick adoption of technologically advanced rollators, especially in European and North American countries, is expected to drive the growth of the premium rollators market.

Europe dominated the overall personal mobility devices market in 2020 with a revenue share of 33.4%. The regional market will grow at a steady rate during the forecast years due to the rising prevalence of age-associated diseases, increasing geriatric population, presence of improved healthcare infrastructure, high healthcare expenditure, and favorable reimbursement policies for purchase or rental services. However, Asia Pacific is expected to emerge as the fastest-growing regional market from 2021 to 2028.

This is attributed to the increasing geriatric population in East Asian countries, such as Japan and China. In addition, extensive R&D activities undertaken by various organizations, such as the China Rehabilitation Research Center (CRRC), are expected to drive the regional market. Increasing disposable income levels, rising awareness, high healthcare expenditure, and government initiatives aimed at improving healthcare access are also expected to boost the market growth in the Asia Pacific. The U.S. government doubled the funding for Rehabilitation Engineering Research Center programs for accelerating the research in the field of personal mobility.

As per the data published by the Human Resources and Skills Development Canada, approximately, 14.3% of the population suffers from disabilities pertaining to vision, hearing, and motion impairment. The Canadian government formed a Disability Tax Credit Certificate allowing a disabled person to pay little or no tax. The Ontario Ministry of Health and Long-Term Care (OMHLT) has provided support and funding to individuals with disabilities in accordance with the Assistive Devices Program (ADP).

Key Players

  • Drive DeVilbiss Healthcare

  • GF Health Products, Inc.

  • Invacare Corporation

  • Carex Health Brands, Inc.

  • Kaye Products, Inc.

  • Briggs Healthcare

  • Medline Industries, Inc.

  • NOVA Medical Products

  • Performance Health

  • Rollz International

Market Segmentation

  • Product Outlook 

    • Walking Aids

      • Rollators

        • Premium

        • Low-cost

      • Others (Canes, Crutches, and Walkers)

    • Wheelchairs

      • Manual

      • Powered

    • Scooters

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • France

      • U.K.

      • Germany

      • Italy

      • Spain

      • The Netherlands

      • Switzerland

      • Sweden

      • Belgium

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

      • Indonesia

      • Malaysia

      • Singapore

      • South Korea

      • Thailand

      • Taiwan

      • Australia

      • Philippines

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

      • Chile

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Israel

      • Egypt

The Personal Mobility Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. 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 provides size (in terms of volume and value) of Personal Mobility Devices market for the base year 2020 and the forecast between 2021 and 2030. 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.

This report focuses on the global Personal Mobility Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Personal Mobility Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Personal Mobility Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Personal Mobility Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Personal Mobility Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Personal Mobility Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Personal Mobility Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Personal Mobility Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Personal Mobility Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Personal Mobility Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Personal Mobility Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Personal Mobility Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Personal Mobility Devices market. These factors have benefited the growth of the global market for Personal Mobility Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Personal Mobility Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Personal Mobility Devices are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- 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

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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