APAC Personal Mobility Devices Market to Cross US $ 600 Million by 2021: Pharmaion Report
NEW YORK, June 30, 2016 /PRNewswire/ --
Ageing population, growing number of accidents and continuing technological advancements to drive APAC personal mobility devices market through 2021
According to Pharmaion report, "APAC Personal Mobility Devices Market Opportunities, 2011 - 2021", the personal mobility devices market in Asia-Pacific is projected to cross $ 600 million by 2021. A wide array of factors anticipated to influence the growth of Asia-Pacific personal mobility devices market during the forecast period include growing ageing population, increasing number of disabled people, rising incidence of chronic diseases and escalating number of road accidents. Moreover, growing government support and favorable reimbursement facilities coupled with increasing population with locomotor disability are further expected to positively influence the APAC personal mobility devices market over the next five years. As per the Asian Development Bank, elderly population in Asia is anticipated to reach 922.7 million by 2050. The average (mean) disability prevalence for the Asia-Pacific region is 4.6%. Among Asia-Pacific countries, the prevalence of locomotive disability is highest in India - at 1,046 per 100,000 people in the rural areas and 901 per 100,000 people in the urban areas.
Browse 9 market data Tables and 24 Figures spread through 113 Pages and an in-depth TOC on "APAC Personal Mobility Devices Market"
Asia-Pacific personal mobility devices market has been segmented into three categories, namely, wheelchairs, mobility scooters/tricycles and other walking aids. In the APAC region, wheelchairs are the most commonly used personal mobility devices, and the same trend is anticipated to continue over the next five years as well. Primary reason for growing demand for wheelchairs in Asia-Pacific region is increasing number of physically challenged and elderly people. Manual wheelchair is the most preferred type of wheelchair in Asia-Pacific, owing to various factors such as low price, easy availability on rent basis and less maintenance.
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"In APAC, governments of various countries provide medical insurance to people in the age bracket of 65 & above. Under this medical insurance, the cost of personal mobility devices is reimbursed and only a small percent of the cost is borne by the user. In addition to government, certain players in the region are also providing reimbursement for some of their mobility aids. Backed by all these factors, APAC personal mobility devices market is anticipated to grow at a healthy rate over the next five years." said Mr. Karan Chechi, Research Director with Pharmaion Consultants, a research based global management consulting firm focused on pharma and healthcare industry.
"APAC Personal Mobility Devices Market Opportunities, 2021" has analyzed the potential of personal mobility devices market in Asia-Pacific and provides statistics and information on market sizes, shares and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by APAC personal mobility devices market.
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Pharmaion is a research based management consulting firm focused exclusively on Healthcare & Pharmaceutical industry. Led by a team of dynamic industry experts, Pharmaion provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, Pharmaion's clients lead rather than follow market trends. Pharmaion has developed a proprietary database which focuses on identifying the unexplored opportunities in Healthcare and Pharmaceutical industry.
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