Press release
Personal Mobility Devices Market to reach US$ 14.6 Bn in 2024; Asia Pacific set to witness highest growth rate during forecast period: Transparency Market Research
Browse the full report at http://www.transparencymarketresearch.com/personal-mobility-devices-market.html
Rising preference for an independent lifestyle and attitudes of the elderly and disabled to explore the world coupled with longevity has increased demand for mobility devices. The report offers a detailed description behind the high growth of this market and outlines a possible growth trajectory for each mobility device segment globally as well as region wise and country level analysis of the market. The report is thus, compiled with the intent of updating the stakeholders with the incumbent market dynamics through a graphical illustration and in-depth analysis of the major market segments in the report.
North America held the largest share of the global personal mobility devices market in 2015. The market in the region is anticipated to expand at a CAGR of 6.7% from 2016 to 2024. The dominance of this region is attributed to developed health care infrastructure and high adoption of advanced health care technologies. In addition, rise in the number of disabled patients, increase in availability and adoption of mobility devices, and high disposable income boost demand for personal mobility devices in North America. The U.S. Government has doubled the funding for rehabilitation engineering research centers program. This will further support the growth of the mobility devices market in the region. Another factor likely to trigger growth in the market is the staggering cost of caregiver services, which was valued at US$ 450 Bn in the U.S. and US$ 9 Bn in Canada in 2015.
According to the American Community Survey (ACS), the overall rate of disability stood at 12.6% in the U.S. in 2014. Wheelchairs are economical as compared to other devices such as stair lifts and mobility scooters, and several technological advancement have taken place with respect to wheelchairs in the past few years. This is likely to drive the personal mobility devices market in North America during the forecast period. Europe was the second largest market for personal mobility devices in 2015. Germany witnessed high growth rate in the geriatric population as well as number of disabled people. In addition, majority of the population is covered under the Statutory Health Insurance (SHI) plan that covers expenditure for mobility devices. This is expected to accelerate the growth of the mobility devices market, especially in Germany. Furthermore, government subsidies are improving the reach and accessibility of these devices for a large target patient population. This is likely to augment the personal mobility devices market in Europe in the next few years.
Asia Pacific is projected to be the fastest growing market for personal mobility devices during the forecast period. According to the World Health Organization (WHO), manufacturers who wish to seek entry in Asia Pacific can use various proxy indicators. Additionally, emerging economies, rising awareness, and availability of products at affordable prices are the major factors anticipated to drive the personal mobility devices market in the region. Japan is a well-established medical devices market due to high disposable income of the people and strong government support for various essential medical devices. China is expected to witness high growth rate in the major mobility product segments, especially electric wheelchairs, due to the commercialization of more robust and user-friendly wheelchairs and growing demand.
Key players operating in the global personal mobility devices market include Amigo Mobility International, Inc., Argo Medical, ArjoHuntleigh, Drive Medical, GF Health Products, Inc., Hill-Rom Holdings, Inc., Invacare Corporation, Ottobock Healthcare, Patterson Companies, Inc., Stryker Corporation, Permobil AB, Pride Mobility Products Corporation, and Sunrise Medical LLC.
You can download a sample report for free: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=6715
The global personal mobility devices market has been segmented as follows:
Global Personal Mobility Devices Market, by Devices
By Medical Mobility Aids and Ambulatory Devices
Wheelchairs
Manual Wheelchairs
Electric Wheelchairs
Mobility Scooters
Boot Scooter
Midsize Scooter
Road Scooter
Canes
Folding Canes
Quad Canes
Offset Canes
Crutches
Axillary Crutches
Elbow Crutches
Forearm Crutches
Walkers
Standard Walkers
Knee Walkers
Rollators
By Medical Furniture and Bathroom Safety Products
Patient Lifts
Manual Lifts
Power Lifts
Stand Up Lifts
Heavy Duty Lifts
Overhead Track Lifts
Stair Lifts
Indoor Stair Lifts
Outdoor Stair Lifts
Medical Beds
Electric Beds
Manual Beds
Stretchers
Low Beds
Water Beds
Bars and Railings
Commodes and Showers
Global Personal Mobility Devices Market, by Geography
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
South Africa
Saudi Arabia
Rest of Middle East & Africa
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Website: http://www.transparencymarketresearch.com/
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