Personal Mobility Devices Market to Capture a CAGR of 7.42% While Touching Approximately USD 31.95 Billion by 2032 – Report by The Brainy Insights
The personal mobility devices market should witness a moderate growth rate owing to the increasing investment in healthcare devices and rising advancement in the development technology. The key market players are listed in the report with their sales, revenues and strategies are Drive DeVilbiss Healthcare, Invacare Corporation, GF Health Products, Inc., Carex Health Brands, Inc., Briggs Healthcare, Kaye Products, Inc. and others.
New York, Sept. 07, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the personal mobility devices market will grow from USD 15.62 Billion in 2022 to USD 31.95 Billion by 2032. The personal mobility devices market is witnessing a rise in demand among end-users, such as hospitals and clinics, home care settings, ambulatory surgical centres, etc. Further, the rising requirement for assisting elderly and disabled patients is fuelling the growth of personal mobility device products. Companies involved in manufacturing and developing personal mobility devices are focusing on developing products that patients can rely upon.
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Key Insight of the Personal Mobility Devices Market
Europe region to account for the largest market size during the forecast period.
Europe will have the most major personal mobility devices market share during the forecast period. The factors supporting the growth of the regional personal mobility devices market include the high demand for personal mobility devices in the U.K., Germany and France. The growing prevalence of age-related diseases in the region provides lucrative opportunities to manufacturers of personal mobility devices. Further, the patient population has a high demand for such personal mobility devices due to high disposable income.
The medical mobility aids and ambulatory devices segment is expected to augment the market during the forecast period.
The type segment is divided into medical furniture and bathroom safety products medical mobility aids, and ambulatory devices. The medical furniture and bathroom safety products segment includes mobility scooters, crutches, wheelchairs, walkers and canes. The mobility scooters segment further includes boot scooters, road scooters and mid-size scooters. The crutches segment further includes forearm crutches, axillary crutches and elbow crutches. The wheelchairs segment further includes manual and powered. The walkers segment further includes knee walkers, standard walkers and rollators. The canes segment further includes offset canes, folding canes and quad canes. The medical mobility aids and ambulatory devices segment includes medical beds, patient lifts, stair lifts, commodes, bars and railings and others. The medical beds segment further includes manual beds and electric beds. The patient’s lift segment further includes power lifts, stand-up lifts, heavy-duty lifts, manual lifts, and overhead track lifts. The stair lifts segment further includes outdoor stair lifts and indoor stair lifts. The medical mobility aids and ambulatory devices segment is expected to augment the market during the forecast period. A patient may be given a variety of gadgets to help them move around independently, such as a walking assist, to improve their gait, balance, or safety. In situations where it is desirable to lessen weight bearing through the lower limb, they can also serve as a mechanism for shifting weight from the upper limb to the ground.
The homecare settings segment is expected to augment the market during the forecast period.
The end-users segment is divided into homecare settings, hospitals and clinics, ambulatory surgical centres, and others. The homecare settings segment is expected to augment the market during the forecast period. Personal mobility devices are used predominantly for people with chronic diseases who cannot move around alone.
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Driver: Increasing cases of disabilities
One billion individuals, or around 15% of the world’s population, are estimated to be disabled. For the same reasons that everyone else does—to be healthy, active and a part of the community—people with disabilities require access to mobility devices and assistance. People who are suffering from chronic diseases may experience difficulties in their mobility. Thus, these diseases can lead to activity and participation restrictions without favourable personal and environmental circumstances. To maximize these patients’ functioning and well-being, the usage of personal mobility devices has increased.
Restraint: Costlier as compared to conventional products
The cost of electric personal mobility devices is high; thus, their usage is limited among mid and low-income groups. Also, these devices are imported into some regions, leading to a surge in the product’s final cost. The manual assistance devices are still in high demand due to their low cost and wider availability.
Opportunity: Development of advanced devices
The next-generation personal mobility devices have the potential to improve accessibility and independence and minimize immobility-related health concerns for many people. These electric-powered personal mobility devices have the potential to increase access to mobility and physical activity by allowing wheelchairs, beds, mobility scooters, crutches, walkers, etc., to be produced efficiently and affordably based on the needs of the user. Developing these advanced devices can reduce the social stigma of using them daily and thus increase their demand across regions. The development of electric personal mobility devices makes it easy for patients to operate them longer.
Challenges: Lack of awareness in developing and under-developed regions
The use of mobility aids is discouraged by perceived stigma and social pressure, especially in minority populations. Mobility aids would be more widely accepted in these regions if doctors were more involved, there were more positive peer role models, and the devices were affordable, safe, and accessible.
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Some of the major players operating in the personal mobility devices market are:
• Drive DeVilbiss Healthcare
• Invacare Corporation
• GF Health Products, Inc.
• Carex Health Brands, Inc.
• Briggs Healthcare
• Kaye Products, Inc.
• Medline Industries, Inc.
• Performance Health
• NOVA Medical Products
• Sunrise Medical LLC
• Stryker Corporation
• Rollz International
• Hill Rom Holdings Inc.
Key Segments Cover in the Market:
• Medical Furniture and Bathroom Safety Products
o Mobility Scooters
• Medical Mobility Aids and Ambulatory Devices
o Medical Beds
o Patient Lifts
Stand Up Lifts
Heavy Duty Lifts
Overhead Track Lifts
o Stair Lifts
Outdoor Stair Lifts
Indoor Stair Lifts
o Bars and Railings
• Homecare Settings
• Hospitals and Clinics
• Ambulatory Surgical Centres
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client’s objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client’s requirements whether they are looking to expand or planning to launch a new product in the global market.
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