The planetary personal mobility devices market was valued astatine US$ 10.4 Bn successful 2021 and is projected to turn astatine a CAGR of 7.1% from 2022 to 2031. The planetary idiosyncratic mobility devices marketplace is anticipated to transverse US$ 20.5 Bn by the extremity of 2031.
Global Personal Mobility Devices Market Introduction
Personal mobility instrumentality is immoderate assistive device, which includes scooters, powered wheelchairs, diligent lifts, and step lifts that assistance radical with locomotive disabilities. These devices connection important benefits by expanding people’s mobility, on with substituting for automobile travel. Mobility devices are provided by a fig of stakeholders specified arsenic planetary agencies, governments authorities, backstage sector, and nongovernmental organizations.
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Furthermore, the wheelchairs conception accounts for cardinal stock of the idiosyncratic mobility devices industry, which chiefly focuses connected high-income markets and is importantly fragmented. The 4 largest manufacturers, including Sunrise Medical, Ottobock, Invacare, and Permobil, power little than 50% of the planetary mobility market.
Increase successful Incidence Rate of Road Accident Injuries to Boost Demand for Personal Mobility Devices
Several factors, including rising population, increasing fig of vehicles, roads defects, and mediocre infrastructure impact the fig of roadworthy crashes and terrible injuries. A study published by the World Health Organization (WHO) stated that roadworthy postulation crashes origin non-fatal injuries to 20 cardinal to 50 cardinal radical crossed the globe each year. According to Centers for Disease Control and Prevention (CDC) estimates, non-fatal injuries and fatal injuries volition outgo the planetary system astir US$ 1.8 Trn (in 2010) from 2015 to 2030. Hence, the request for idiosyncratic mobility devices is expected to summation importantly during the forecast period.
Rise successful Geriatric Population Globally to Drive Product Demand
The geriatric colonisation (over 65 years) is expanding astatine a precocious complaint crossed the world. The capableness to bash carnal chores reduces with age. The percent of geriatric colonisation utilizing mobile devices is apt to increase, chiefly owed to the fearfulness of falling. This is apt to substance the request for idiosyncratic mobility devices implicit the adjacent fewer years.
According to a probe conducted by the WHO, betwixt 2015 and 2050, the proportionality of the planetary colonisation supra 60 years volition astir treble from 12% to 22%. Moreover, astir 80% of aged radical volition beryllium surviving successful low- and middle-income countries by 2050.
The scope of planetary idiosyncratic mobility devices marketplace maturation is apt to summation by advancements successful assistive devices oregon mobility aids, including crutches, canes, and wheelchairs, to amended mobility successful aged people.
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Surge successful Adoption of Advanced Wheelchairs
In presumption of product, the planetary idiosyncratic mobility devices marketplace has been bifurcated into aesculapian mobility immunodeficiency & ambulatory devices and aesculapian furnishings & bath information products. The aesculapian mobility immunodeficiency & ambulatory devices conception held cardinal stock of the planetary marketplace successful 2021. The aesculapian mobility immunodeficiency & ambulatory devices conception has been divided into mobility scooters, wheelchairs, canes, crutches, and walkers.
The wheelchairs sub-segment is projected to turn astatine a accelerated gait during the forecast period, owing to surge successful adoption of precocious wheelchairs and precocious people population, specifically crossed the U.S., China, India, and Brazil. Additionally, beardown beingness of starring players and their effectual collaboration strategies are projected to propel the wheelchairs sub-segment during the forecast period. For instance, successful January 2021, Permobil, Inc., the pioneering institution successful precocious wheelchair, and LUCI, the U.S.-based wheelchair manufacturer, announced a tie-up successful bid to administer LUCI’s astute wheelchairs to Veterans Affairs’ (VA) rehabilitation clinics crossed the U.S.
Regional Outlook of Global Personal Mobility Devices Market
According to the TMR’s idiosyncratic mobility devices marketplace statistics, North America accounted for a notable stock of astir 40.0% of the planetary idiosyncratic mobility devices marketplace successful 2021. The idiosyncratic mobility devices marketplace size successful the portion is projected to turn astatine a dependable complaint during the forecast period, chiefly owed to emergence successful prevalence of age-associated diseases, improvements successful healthcare infrastructure, favorable reimbursement policies for rental oregon acquisition services, and higher healthcare expenditure.
Europe and Asia Pacific are besides cardinal markets for idiosyncratic mobility devices, and held 2nd and 3rd largest share, respectively, of the planetary marketplace successful 2021.
The idiosyncratic mobility devices marketplace successful Asia Pacific is driven by summation successful injuries owed to roadworthy accidents. Moreover, supportive authorities policies are driving the idiosyncratic mobility devices marketplace successful region. For instance, successful November 2019, the Jakarta Regional Transportation Agency announced caller regulations for the physics scooter by classifying it arsenic a idiosyncratic mobility instrumentality (PMD). In addition, successful January, 2019, The Toyota Mobility Foundation announced the authoritative motorboat the ‘$4 cardinal planetary challenge’, with the purpose of enhancing the lives of radical with paraplegia (lower-limb paralysis). Toyota Mobility Foundation announced 5 visions for the aboriginal of mobility astatine CES, including The Evowalk: Evolution Devices; Phoenix Ai Ultralight Wheelchair: Phoenix Instinct, Qolo (Quality of Life with Locomotion); Quix: IHMC & MYOLYN; and Moby: Italdesign (Italy).
Latin America is simply a larger lawsuit of idiosyncratic mobility devices than Middle East & Africa. Moreover, the marketplace successful Latin America is projected to turn astatine a faster gait than successful Middle East & Africa.
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Analysis of Key Players successful Global Personal Mobility Devices Market
The planetary idiosyncratic mobility devices marketplace is consolidated owed to the beingness of tiny fig of starring players. Majority of the companies are investing importantly successful probe & improvement activities, chiefly to present precocious idiosyncratic mobility devices.
Leading players analyzed successful the study are –
- Drive DeVilbiss Healthcare,
- GF Health Products, Inc.,
- Invacare Corporation,
- Hill-Rom Holdings, Inc.,
- Ottobock, Stryker Corporation,
- Permobil (Patricia Industries),
- Pride Mobility Products Corp,
- Sunrise Medical (US) LLC,
- Patterson Companies, Inc.
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