From $$7.70 Bn to $14.59 Billion, Personal Mobility Devices Market for Dramatic Expansion in Medical Devices Industry

Advancements in technology, surge in prevalence of chronic diseases, and rise in aging population drive the global personal mobility devices market growth. However, high investment cost and complications related to usage limit the market growth. On the other hand, increase in demand from emerging countries presents new opportunities in the next few years.

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The global Personal Mobility Devices Market garnered $7.70 billion in 2019, and is estimated to generate $14.59 billion by 2027, registering a CAGR of 7.1% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.

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Covid-19 Scenario:

• There were challenges about balance of supply and demand for personal mobility devices as there were disruptions in supply chain and scarcity of human resources with lockdown measures taking place during the Covid-19 pandemic.

• Patients with physical and chronic disabilities had difficulty in following the social distancing guidelines as there was a need of continuous assistance from medical helpers or caregivers. This became risky for attendants and impacted the utilization of these devices.

The report provides detailed segmentation of the global personal mobility devices market based on product, end user, and region.

On the basis of product, the wheelchairs segment accounted for the largest market share in 2019, contributing to nearly three-fourths of the total market share, and is projected to continue its leadership status during the forecast period. However, the mobility scooters segment is estimated to maintain the largest CAGR of 7.6% from 2020 to 2027.

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By end user, the homecare segment contributed to the largest share in 2019, accounting for more than three-fourths of the global personal mobility devices market, and is estimated to maintain its lead position during the forecast period. In addition, this segment is expected to witness the highest CAGR of 7.2% during the forecast period.

Based on region, North America held the highest share in terms of revenue in 2019, accounting for more than two-fifths of the global market share, and is estimated to continue its dominance by 2027. However, Asia-Pacific is projected to manifest the highest CAGR of 8.3% from 2020 to 2027.

Leading players of the global personal mobility devices market analyzed in the research include Briggs Healthcare, Drive DeVilbiss Healthcare, Carex Health Brands, Inc., Invacare Corporation, GF Health Products, Inc., Pride Mobility Products Corp., Medline Industries Inc., Stryker Corporation, Rollz International, and Sunrise Medical LLC.

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