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What Is the Projected Growth of the Mobility Aids And Transportation Equipment Market?
The mobility aids and transportation equipment market size has seen strong growth in recent years. It will grow from $2.76 billion in 2024 to $2.99 billion in 2025 at a CAGR of 8.4%. Growth is driven by an aging population, medical conditions and disabilities, the need for rehabilitation services, and accessibility legislation.
The mobility aids and transportation equipment market size is expected to see strong growth in the coming years. It will grow to $3.95 billion by 2029, with a compound annual growth rate (CAGR) of 7.2%. The growth is attributed to personalized mobility solutions, the use of advanced materials and design, telehealth and remote consultations, and aging-in-place solutions. Key trends include smart mobility aids, innovative transportation solutions, eco-friendly aids, and robot-assisted mobility.
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What Are the Different Mobility Aids And Transportation Equipment Market Segments?
The mobility aids and transportation equipment market covered in this report is segmented -
1) By Type: Electrically Powered Wheelchairs, Manual Wheelchairs, Walking Aids, Mobility Scooters, Stretchers, Stair Lifts
2) By Age Group: Mobility Aids for Children, Mobility Aids for Elderly
3) By End User: Hospital, Clinic, Household
Subsegments:
1) By Electrically Powered Wheelchairs: Rear-wheel Drive, Front-wheel Drive, Mid-wheel Drive, Standing Wheelchairs
2) By Manual Wheelchairs: Standard Manual Wheelchairs, Lightweight Manual Wheelchairs, Folding Manual Wheelchairs, Rigid Manual Wheelchairs
3) By Walking Aids: Crutches, Canes, Walkers, Rollators
4) By Mobility Scooters: Three-wheeled Mobility Scooters, Four-wheeled Mobility Scooters, Heavy-duty Mobility Scooters
5) By Stretchers: Hydraulic Stretchers, Folding Stretchers, Emergency Stretchers, Bariatric Stretchers
6) By Stair Lifts: Straight Stair Lifts, Curved Stair Lifts, Outdoor Stair Lifts, Platform Lifts
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What Are the Primary Drivers Shaping the Mobility Aids And Transportation Equipment Market?
The growing elderly population is expected to increase demand in the mobility aids and transportation equipment market. Older individuals face mobility issues due to conditions like rheumatoid arthritis and osteoporosis. According to the WHO, the global geriatric population will rise from 12% to 22% by 2050. This demographic shift is driving the need for mobility support products.
Which Companies Are Leading in the Mobility Aids And Transportation Equipment Market?
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.
What Trends Are Expected to Dominate the Mobility Aids And Transportation Equipment Market in the Next 5 Years?
Japanese automakers have introduced a single-seat self-driving car aimed at individuals who face challenges with walking or public transport. Controlled via smartphone or tablet, this compact vehicle uses gyro sensors, laser distance sensors, and stereo cameras to detect obstacles and navigate safely on city streets, pavements, and uneven surfaces, ensuring accessibility and mobility.
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What Are the Top Revenue-Generating Geographies in the Mobility Aids And Transportation Equipment Market?
Asia-Pacific was the largest region in global mobility aids and transportation equipment market in 2023. North America was the second-largest region in global mobility aids and transportation equipment market. The regions covered in the mobility aids and transportation equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Mobility Aids And Transportation Equipment Market?
2. What is the CAGR expected in the Mobility Aids And Transportation Equipment Market?
3. What Are the Key Innovations Transforming the Mobility Aids And Transportation Equipment Industry?
4. Which Region Is Leading the Mobility Aids And Transportation Equipment Market?
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