Personal Mobility Devices Market Future Demand, And Forecast Till 2031 |nvacare Corporation, Pride Mobility Products Corporation.

The Personal Mobility Devices Market is estimated for 2023 for the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Personal mobility devices such as wheelchairs, mobility scooters, and walkers are used to enhance mobility for disabled and elderly population. These products provide independent and comfortable mobility to the users.

Market Dynamics:

The personal mobility devices market is expected to witness significant growth over the forecast period, owing to rising prevalence of disabilities and growing geriatric population globally. It is estimated that about 1 billion people worldwide live with some form of disability, which is over 15% of the global population. The proportion of population aged over 60 years is also growing rapidly worldwide and reached 12% of the total global population in 2021. Further, favorable reimbursement policies for personal mobility devices in developed markets is also expected to aid market growth during the forecast period. However, high costs associated with specialist mobility products and limited availability of appropriate assistive technology in developing regions may hamper market growth.

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The following manufacturers are covered in this report:

nvacare Corporation, Pride Mobility Products Corporation, Drive Devilbiss Healthcare, Sunrise Medical (US) LLC, Permobil, Acorn Stairlifts Inc., Stannah International, Ottobock Healthcare, R&E Stricker Reha-Entwicklungen GmbH, Triride Srl, Klaxon Mobility GmbH, Alber GmbH, Spinergy, Inc., and Yamaha Motor Co., Ltd.

Segment Analysis :

By Product Type: Wheelchair, Scooters, Handbikes (Electric handbikes, Manual handbikes, Hybrid handbikes), Walkers, Stair-lifts, Power Add On Products, Others
By End User: Hospitals & Clinics, Ambulatory Surgical Centers, Urgent Care Center, Homecare Setting, Others
Market Drivers for Personal Mobility Devices

Rising prevalence of disabilities and chronic medical conditions driving the adoption of personal mobility devices

The global aging population combined with the increasing incidence of chronic medical conditions such as obesity, diabetes, arthritis and accidents are leading to a rise in mobility limitations. As per WHO, over 1 billion people worldwide live with some form of disability. High costs associated with treating and caring for those with limited mobility has boosted the demand for personal mobility devices that offer more independence. Powered wheelchairs, scooters and walkers are being increasingly relied upon for improved quality of life.

Technological advancements fueling continuous product innovation and development in personal mobility devices market

Players in the personal mobility devices market are investing heavily in R&D to develop lightweight, durable and multifunctional devices with enhanced features. The integration of technologies like lithium-ion batteries, electric motors, smartphone connectivity and crash detection systems have transformed conventional mobility aids. Features such as tilt-in-space, reclining and standing modes in powered wheelchairs cater to a variety of needs. Compact folding designs and portable power packs facilitate easy storage and transport. The growing capabilities and customizability of these smart personal mobility devices is positively impacting sales volumes.

Market Restrain for Personal Mobility Devices

High costs of powered mobility devices deterring widespread adoption

While basic mobility aids like walkers and manual wheelchairs are affordable, powered versions incorporating modern technologies come at a premium. Powered wheelchairs can cost anywhere between $5,000 to $50,000 depending on their features and customization levels. The high acquisition costs coupled with additional expenses associated with maintenance, repairs and replacement batteries pose a big financial burden, especially for those with limited incomes or no medical insurance coverage. This price factor remains a key restraint dampening the sales potential of high-end personal mobility devices.

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Market Opportunity for Personal Mobility Devices

Aging infrastructure and policy support driving demand for accessibility solutions

With the proportion of elderly expected to surge globally, there is a pressing need to make public places barrier-free and universally accessible. However, existing physical infrastructure in many countries lacks provisions for people with limited mobility like ramps, automatic doors and accessible restrooms. Rising awareness about inclusion and rights of the disabled community has led to formulation of accessibility laws and standards. Compliance with guidelines on the UEFA, ADA (USA) and DDA (UK) presents a major business opportunity for manufacturers to develop mobility aids catering to the policy-driven demands. Increased funding and subsidies also incentives the adoption of personal mobility devices.

Market Trends in Personal Mobility Devices

Remote monitoring and low-cost innovations set to revolutionize future of personal mobility devices

With digital technologies shaping future healthcare delivery, mobile applications and cloud-based software platforms facilitating remote patient monitoring are gaining popularity. Integrating add-ons like GPS trackers, fall detectors, activity trackers and two-way communication to powered mobility devices enables caregivers to stay connected with users. The influx of low-cost alternatives from China and developing Asian countries featuring basic functionality at competitive price points aims to tackle the affordability issue. 3D printing, open-source designs and crowdsourcing are fueling novel product ideas with mass-market appeal. These emerging trends have potential to disrupt the landscape and boost accessibility of personal mobility devices worldwide.

Market Geography:

➤North America (U.S., Canada, Mexico)
➤Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
➤Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
➤Latin America (Brazil, Argentina, Rest of LA)
➤Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Reasons to Purchase:

◈To gain insightful analyses of the market and have a comprehensive understanding of the Personal Mobility Devices Industry Analysis and Forecast 2024-2031" and its commercial landscape
◈Learn about the market strategies that are being adopted by your competitors and leading organizations
◈To understand the future outlook and prospects for Personal Mobility Devices market analysis and forecast 2024-2031.To assess the ◈growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.
◈The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research.
◈The report provides a detailed overview of the business with both qualitative and quantitative information.
◈It provides scope and forecast of the global Personal Mobility Devices market based on various segments.

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Our Market Research Solution Provides You Answer to Below Mentioned Question:

✦Which are the driving factors responsible for the growth of market?
✦What are the new opportunities, by which market will grow in coming years?
✦What are the trends of this market?
✦Which are main factors responsible for new product launch?
✦How big is the global & regional market in terms of revenue, sales and production?
✦How far will the market grow in forecast period in terms of revenue, sales and production?
✦Which region is dominating the global market and what are the market shares of each region in the overall market in 2024?
✦How will each segment grow over the forecast period and how much revenue will these segments account for in 2031?

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