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Mobility Aids And Transportation Equipment Market Outlook 2024: Exclusive Report By The Business Research Company | Medline Industries, Hoveround Corporation, Sunrise Medical LLC, OttoBock Healthcare GmbH, Stryker Corporation
Mobility Aids And Transportation Equipment Market Size
The Business Research Company offers in-depth market insights through Mobility Aids And Transportation Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The mobility aids and transportation equipment market size has grown strongly in recent years. It will grow from $3.23 billion in 2023 to $3.49 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to aging population, medical conditions and disabilities, rehabilitation and healthcare services, legislation and accessibility initiatives.
The mobility aids and transportation equipment market size is expected to see strong growth in the next few years. It will grow to $4.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to personalized mobility solutions, advanced materials and design, telehealth and remote consultations, aging-in-place solutions. Major trends in the forecast period include smart mobility aids, innovative transportation solutions, sustainable and eco-friendly aids, robot-assisted mobility.
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Market Segmentation:
The main types of mobility aids and transportation equipment are electrically powered wheelchairs, manual wheelchairs, walking aids, mobility scooters, stretchers, and stair lifts. A walking aid is one of the devices a patient issued to improve their walking pattern, balance, or safety while mobilizing independently. The age group involved are mobility aids for children and mobility aids for the elderly. The various end-users are hospitals, clinics, and households.
Major Driver - Aging Population Driving Growth In Mobility Aids & Transportation Equipment Market
A large aging population will give an impetus to the mobility aids & transportation equipment market. Elderly populations suffer from age-related diseases resulting in impaired mobility. The risk from rheumatoid arthritis and osteoporosis is more in the geriatric population. According to WHO, the worldwide geriatric population will double by 2050 from 12% to 22%, propelling the mobility aids & transportation equipment market growth.
Competitive Landscape:
Major companies operating in the mobility aids and transportation equipment market include Medline Industries, Hoveround Corporation, Sunrise Medical LLC, OttoBock Healthcare GmbH, Stryker Corporation, GF Health Products Inc., Invacare Corporation, LEVO AG, Permobil AB, Hill-Rom Holdings Inc., Merivaara Corporation, UpLyft, Mobius Mobility, SitnStand, Authority Medical Group, Ease Seating Systems, Matia Mobility, National Seating & Mobility, Pride Mobility Products Corp., Drive Medical Design & Manufacturing, Quantum Rehab, 21st Century Scientific Inc., Ki Mobility, Colours Wheelchair, Motion Composites, Karman Healthcare, Merits Health Products Co. Ltd., Nova Medical Products, Active Mobility Systems, Convaid Products LLC, R82 Inc.
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Top Trend - Japanese Single-Seat Self-Driving Car For Enhanced Accessibility And Convenience
Japanese automakers introduced a single-seat self-driving car to aid and assist people who find walking or using public transit difficult. This self-driving car is smartphone or tablet enabled - pick a destination on the map and the pathfinding system in the vehicle will take care of the rest. It is equipped with a navigation system which will help to get from point A to B, a gyro sensor helps the car to remain stable on uneven surfaces, 2D and 3D laser sensors will be used to judge distance from items and stereo cameras will be used to detect obstacles in its path. The car is designed to maneuver easily through city streets, pavements, and footpaths. Sensors and guidance systems will help the vehicle to navigate around bumps, potholes, and pedestrians.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Mobility Aids And Transportation Equipment Market Characteristics
3. Mobility Aids And Transportation Equipment Market Trends And Strategies
4. Mobility Aids And Transportation Equipment Market - Macro Economic Scenario
5. Mobility Aids And Transportation Equipment Market Size And Growth
…..
27. Mobility Aids And Transportation Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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