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Mobility Aids And Transportation Equipment Market Expansion Continues, with Forecast Valuation of $3.78 Billion by 2029
Mobility Aids And Transportation Equipment Market
Mobility Aids And Transportation Equipment Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, the market for mobility aids and transportation equipment has seen significant growth. It is projected to expand from a value of $2.7 billion in 2024 to $2.89 billion in 2025, at a compound annual growth rate (CAGR) of 6.9%. Factors contributing to this growth during the historical period include an aging population, medical conditions, disabilities, rehabilitation and healthcare services, as well as legislation and accessibility initiatives.
Mobility Aids And Transportation Equipment Market Size Forecast: What's the Projected Valuation by 2029?
The market for mobility aids and transportation equipment is predicted to experience robust growth in the upcoming years, anticipated to reach $3.78 billion by 2029, with a compound annual growth rate (CAGR) of 6.9%. The growth in this forecasted phase can be linked to the adoption of tailored mobility solutions, the application of advanced materials and designs, the emergence of telehealth and remote consulting, and the preference for age-in-place solutions. Key trends foreseen in this forecast period encompass smart mobility aids, creative means of transportation, greener and more eco-friendly aids, followed by robot-assisted movement solutions.
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What Are the Drivers Transforming the Mobility Aids And Transportation Equipment Market?
The mobility aids & transportation equipment market is set to receive a significant boost due to a rapidly growing elderly population. Age-related diseases often lead to reduced mobility among older people, with conditions such as rheumatoid arthritis and osteoporosis being more prevalent in this demographic. World Health Organisation data indicates that the global geriatric population will see a twofold increase by 2050 as it grows from 12% to 22%, thereby driving growth in the mobility aids & transportation equipment market.
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What Are the Key Trends Driving Mobility Aids And Transportation Equipment Market Growth?
Japanese car manufacturers have rolled out a single-seat autonomous vehicle intended to provide assistance for individuals who struggle with mobility or using public transportation. This autonomous vehicle is compatible with smartphones and tablets - simply select a location on the map and the vehicle's navigational system handles the rest. It comes fitted with a navigation system that assists in traveling from one place to another, whilst a gyro sensor ensures stability on uneven terrain. The vehicle also employs 2D and 3D laser sensors to calculate distances from objects, and stereo cameras to identify any obstacles in its way. Designed specifically for urban landscapes, the vehicle can effortlessly navigate city roads, sidewalks, and pedestrian paths. Its sensor and guidance systems enable it to successfully negotiate obstacles like uneven road surfaces, potholes, and pedestrians.
Which Segments in the Mobility Aids And Transportation Equipment Market Offer the Most Profit Potential?
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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Which Firms Dominate the Mobility Aids And Transportation Equipment Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in the Mobility Aids And Transportation Equipment Market?
Asia-Pacific was the largest region in global mobility aids and transportation equipment market in 2024. 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.
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