02-08-2019 07:04 AM CET - Health & Medicine

Personal Mobility Devices Market – Factors Boosting The Industry Growth, Size, Trend 2025 Estimated By Key Players Invacare Corporation, Pride Mobility Products Corporation, Drive Devilbiss Healthcare, Sunrise Medical (US) LLC, Permobil

Press release from: Coherent Market Insights
Global Personal Mobility Devices Market
Global Personal Mobility Devices Market

Personal mobility devices include wheelchairs, scooters, bicycles, and unicycles. Most of these devices are used by disabled people, who have restricted mobility. A personal mobility device is designed for use by single person. These devices can be manual or powered by battery. Increasing number of geriatric population is expected to favor growth of the personal mobility device market. According to data published by National Institute on Aging in 2010, it was estimated that 524 million people were aged 65 years or older that is 8% of the world's population and by 2050, it is expected to nearly triple and reach 1.5 billion, representing 16% of the world's population. This above statistics is expected favor growth of personal mobility devices market.

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Common problems faced by geriatric population include instances of falling, due to vertigo or dizziness, chronic diseases. According to World Health Organization (WHO), falls are the second leading cause of accident or unintentional injury, which leads to death of people worldwide, whereas adults aged above 65 years suffer the greatest number of fatal falls. Additionally, in 2014, around 27,000 older adults died because of falls; 2.8 million were treated in emergency departments for fall-related injuries, and around 800,000 of these patients were subsequently hospitalized, according to Centers for Disease and Prevention (CDC) in the U.S. Owing to these factors, demand for personal mobility devices is increasing and this is expected to aid in growth of the market.

The personal mobility devices market is estimated to be valued at US$ 7,821.2 Mn in 2017 and is expected to witness a robust CAGR of 7.6% during the forecast period (2017-2025).

Global Key Players:

Key players in the market include Invacare Corporation,Pride Mobility Products Corporation,Drive Devilbiss Healthcare,Sunrise Medical (US) LLC,Permobil, Stannah International, Acorn Stairlifts Inc., and Ottobock Healthcare.

Detailed Segmentation:

Global Personal Mobility Devices Market, By Product Type:
Wheelchair,Scooters, Canes,Crutches, Walkers, Stair-lifts,Others

Global Personal Mobility Devices Market, By End User:
Hospital & Clinics, Ambulatory Surgical Centers, Urgent Care Center, Home Care Setting, Others

Global Personal Mobility Devices Market, By Region:
North America ,Europe ,Asia Pacific ,Latin America ,Middle East , Africa

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Rising Number Of Disability Cases Along With Growing Geriatric Population Is Expected To Foster Growth Of The Personal Mobility Devices Market:

Rising number of disability cases, due to various factors such as increasing number of road accidents, spinal cord injuries, meningitis, and workplace injuries are expected to favor demand for wheelchairs over the forecast period. According to World Health Organization (WHO), around 10% people among overall disabled people globally, require personal mobility devices for their daily activities and physical movement.

As per the Centers for Disease Control and Prevention (CDC), in 2013, over 53 million people in the U.S. were suffering from some form of disability. Furthermore, the most common type of disability found was mobility disability, which was around 1 in 8 adults among all disabled cases in 2015, as stated by CDC. Moreover, CDC also stated that in the U.S. there are around 39.6 million people aged 18 years and above are suffering from some physical functioning disability and this number is expected to grow in the near future. According to stats published by the Council for Disability Awareness (CDA), in 2013, in the U.S. 1 in 4 children under 20 years are expected to become disabled before they retire, due to various factors such as excess body weight, chronic disease for example, diabetes, high blood pressure, and back pain.

Market Dynamics:

The global personal mobility devices market is projected to witness significant growth over the forecast period, owing to advancements in technology. For instance, Japanese startup, Whill’s, Next Generation Wheelchair received FDA clearance in 2016. FDA clearance allows physicians to prescribe Model M as a medical device.
Furthermore, increasing prevalence of disability among geriatric population is expected to drive growth of personal mobility devices market. For instance, according to the stats published by the Council for Disability Awareness (CDA), in 2013, 1 in 4 children below the age of 20 years in the U.S. was disabled, due to various factors such as excess body weight, and chronic diseases such as diabetes, high blood pressure, and back pain.

Governments in emerging economies such as India and China are focusing on initiatives to bring awareness among disabled people about wheelchairs integrated with advanced technology and are also offering wheelchairs at discounted prices. For instance, the Government of India, under their Department of Empowerment of Persons with Disabilities provided assistance to disabled people for purchasing / fitting of aids (ADIP scheme) under which they distributed wheelchairs to children between the age of 16 and 18 years by offering subsidy of US$ 389.12 per child in 2015.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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