Press release
Increasing Global Geriatric Population Drives the Global Personal Mobility Devices Market
The report provides an in-depth analysis of key factors in the market for personal mobility devices, some of which include market size, market drivers and restraints, growth opportunities, forecasts, detailed overview, and key market trends. The value chain analysis, market attractiveness analysis, competitive landscape, and key market segments are also covered. Porter’s Five Forces analysis has been given along with a description of assumptions and research methodology. Each company has been studied in terms of financial overview, product portfolio, recent developments, and business strategies.
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According to the findings of TMR, in 2014, the global personal mobility market was estimated at US$ 6.65 bn. It is projected to exhibit a promising CAGR of 7.30% during the forecast period, attaining a revenue worth US$ 12.7 bn in 2023.
The steady increase in the aging population across the globe has been fuelling the demand for personal mobility market worldwide. Besides this factor, the rising number of care-giving services necessary for people with disability is also giving impetus to the market. The growing number of patients suffering from rheumatoid arthritis and osteoporosis, considerable increase in disposable incomes of people, and beneficial government policies, along with technological progress in the domain of personal mobility devices are factors contributing towards market growth.
On the other hand, the market for personal mobility devices will face restraints on account of the high costs of these devices, coupled with low rate of adoption of digitized devices. However, conducive policies of governments and large scale grants from international organizations will aid in the expansion of personal mobility devices market over the coming years.
On the basis of device type, the key segments of the personal mobility devices market include medical mobility aids and ambulatory devices and medical furniture and bathroom safety products. The medical mobility and ambulatory devices segment has been further segmented into mobility scooters, crutches, canes, walkers, and wheelchairs. The medical furniture and bathroom safety products segment has been further categorized into medical beds, showers and commodes, bars and railings, stair lifts, and patient lifts.
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Based on geography, the global market for personal mobility devices has been categorized into five regions: Asia Pacific, Latin America, Middle East and Africa, North America, and Europe. These regions have been further segmented into chief countries responsible for market growth. These include Brazil, the U.K., China, Italy, Mexico, the U.S., China, France, Saudi Arabia, Germany, Canada, Spain, India, and South Africa. Each geographical segment has been studied in terms of volume, market size, product segments and forecast. The personal mobility devices will witness a surge in demand as the geriatric population in Asia Pacific (in countries such as India and China in particular) increases.
The key vendors operating in the global market for personal mobility devices discussed in the report include Permobil AB, Argo Medical, Ottobock Healthcare, GF Health Products, Inc., Invacare Corporation, Sunrise Medical LLC, Stryker Corporation, Hill-Rom Holdings, Inc., Amigo Mobility International, Inc., ArjoHuntleigh, Patterson Companies, Inc., and Pride Mobility Products Corporation.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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