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Personal Mobility Devices Market is Expected to Reach US$ 12.7 Billion by the End of 2023

03-06-2018 02:31 PM CET | Health & Medicine

Press release from: Transparency Market Research

Personal Mobility Devices Market is Expected to Reach US$ 12.7

The growing geriatric populace around the globe has risen as a key driver of the worldwide personal mobile devices market. The demand for these gadgets to consistently incrementing in Asia Pacific, as the number of old people are rising in countries such as China and India. Aside from the geriatric populace, services pertaining to care giving are likewise fundamental for individuals experiencing incapacity. An ascent in the quantity of individuals living with an incapacity, either brief or perpetual, will fuel interest for personal mobile devices.

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The consistent increment in the maturing populace over the globe has been fuelling the interest for personal mobility devices around the world. Other than this factor, the rising number of care-giving administrations vital for individuals with inability is additionally offering stimulus to the market. The developing number of patients experiencing rheumatoid joint inflammation and osteoporosis, impressive increment in dispensable livelihoods of individuals, and valuable government approaches, alongside innovative advance in the area of individual versatility gadgets are factors contributing towards the market development.

The global market for personal mobility devices is likely to grow at a 7.3% CAGR from 2015 to 2023. In 2014, the market was worth US$6.65 bn and is likely to touch US$12.7 bn by 2023.

Regardless of seeing positive development around the world, the high cost of these mobility gadgets will constrain their market's extension to a degree. The low acknowledgment of digitized gadgets will likewise adversely affect the market's direction. All things considered, awards from worldwide associations and good arrangements will help offers of personal mobility devices in the coming years. The growing number of geriatric population and the increasing mobility inconvenience with age as the core reasons behind the growth of this segment in the long run. The need of mobility devices at the time of physical injuries and diseases is also likely to fuel the progress of the market in the years ahead.

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Region-wise, the global market for personal mobility devices is being led by North America at present and is likely to be continued over the forecast period. Prodded by the rising geriatric populace, combined with the rising number of individuals with incapacity, the sales of personal mobility devices is relied upon to rise impressively in this region. North America has additionally demonstrated lucrative for makers of technologically advanced gadgets. The region consequently displays popularity digitized mobility gadgets. Besides, the expanding ability among buyers to spend on cutting edge medicinal gadgets will give enhanced deals chances to the manufacturers of personal mobility devices in North America.

In 2014, Asia Pacific developed as the third-leading market for personal mobility devices. Be that as it may, the regional market is most likely to ascend at the most astounding CAGR amid the estimate time frame. The expanding mindfulness about cutting edge medicinal gadgets, and their rising reasonableness, will also support the demand for personal mobility devices in Asia Pacific. Moreover, the expanding geriatric populace detailed in China and India, will forecast well for the personal mobility devices in Asia Pacific.

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The leading players operating in the global personal mobility devices are Hill-Rom Holdings, Inc., Graham-Field Health Products Incorporated, ArjoHuntleigh, Drive Medical, Argo Medical, and Amigo Mobility International, Inc.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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