- The healthcare industry is now moving towards preventive care approach and in it, the concept of curative care takes a firm hold so as to improve the operational abilities of disabled population
- Increasing R&D initiatives to improve the services provided to disabled people with new age devices and pocket-friendly reimbursement plans are helping to drive the market growth
ALBANY, New York, March 19, 2020 /PRNewswire/ -- Transparency Market Research has recently published a new research report offering detailed insights about the working dynamics of the global Personal Mobility Devices Market. The research report describes in detail about key growth factors, market inhibitors, prominent segments, overall scope of the vendor landscape, and the geographical outlook of the global market.
As per the findings of the research report, the global personal mobility devices market is projected to showcase a promising CAGR of ~7% over the course of the mentioned forecast period of 2019 to 2027. With the given rate of growth, the market revenues are projected to rise up to US$18 Bn by the end of 2027. In 2018, around 46 million devices were sold globally and overall valuation of the market stood at ~US$9.8 bn.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Personal Mobility Devices Market by Product: Medical Mobility Aids & Ambulatory Devices (Wheelchairs, Mobility Scooters, Canes, Crutches, Walkers), Medical Furniture & Bathroom Safety Products (Patient Lifts, Stair Lifts, Medical Beds, Bars & Railings, Commodes & Shower Chairs). Read Detailed TOC of the Report - https://www.transparencymarketresearch.com/report-toc/6715
Global Personal Mobility Devices Market – Key Takeaways
The segment of medical mobility aids & ambulatory devices accounted for the largest share in the global market in 2018, and is projected to continue to dominate over the course of the forecast period.
The segment is expected to grow with market share of 500 basis point and is expected to showcase a high CAGR in coming years of the forecast period.
The sub-segment of wheelchair is expected to dominate the main segment in coming years.
The segment of medical furniture and bathroom safety products is expected to have a lucrative growth in the near future.
Medical beds sub-segment is projected to have a promising rate of growth in coming years of the assessment period.
Global Personal Mobility Devices Market – Prominent Growth Drivers
One of the emerging trends that is shaping the growth of the global personal mobility devices market is of workplace equality that is now penetrating in developing nations. Use of wheelchair and crutches is not being considered as sign of disability but a step towards progression.
The popularity of these personal mobility devices is increasing and is also attracting more investments and capital, ultimately helping in the overall development of the global market.
In addition to this, the rising number of geriatric population with acute movement and mobility problem is also a key driving factor for the development of the global market.
Moreover, increasing levels of research and development activities to create new age devices to help people improve their mobility is also helping to drive the market development.
Favorable reimbursement plans to compensate for high costs associated with some personal mobility device products is also an important driving factors.
Global Personal Mobility Devices Market – Prominent Growth Inhibitors
Lack of skilled technicians is a key growth restraint for market growth.
Regions with unfavorable reimbursement policies and subsequent high costs of these devices might see slowdown of sales.
Global Personal Mobility Devices Market – Geographical Outlook
North America has been the leading regional segment of the global personal mobility devices market, followed by Europe.
Early availability and adoption of new age technology and devices is key driving factor for the growth of the region.
The regional segment of Asia Pacific is expected to show a highly fast-paced growth in coming years of the forecast period.
Analyze Personal Mobility Devices Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Global Personal Mobility Devices Market – Key Players
Some of the prominent players in the global market are Pride Mobility Products Corp., Permobil AB, Sunrise Medical (US) LLC, Patterson Companies, Inc., and ArjoHuntleigh among others.
Global Personal Mobility Devices Market: Segmentation
Personal Mobility Devices Market by Product
Medical Mobility Aids & Ambulatory Devices
Medical Furniture & Bathroom Safety Products
Personal Mobility Devices Market by Region
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
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