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Press Release: Personal Mobility Devices Market to Surpass US$ 13.9 Billion by 2026
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Personal Mobility Devices Market – An Aid for Disabled People
Personal mobility devices play a major role in advanced healthcare, as it aid in mobility of the disabled people and enhance the independent living. The devices are of great use for disabled athletes for participation in sports events such as Paralympic World Cup and others.
The global personal mobility devices market size was valued at US$ 7,818.5 million in 2017, and is expected to exhibit a CAGR of 6.7% over the forecast period (2018 – 2026).
Figure 1. Global Personal Mobility Devices Market Value (US$ Mn), by Region, 2017
Source: Coherent Market Insights Analysis (2019)
Rising disability cases, owing to growing geriatric population, increasing number of road accidents, spinal cord injuries, meningitis, and workplace injuries are the leading factors expected to propel growth of the global personal mobility devices market.
Increasing disability cases is expected to drive the global personal mobility devices market growth. According to Centers for Disease Control and Prevention (CDC), in 2013, over 53 million people in the U.S. were suffering from some form of disability. Furthermore, the most common type of disability found was mobility disability, which was around 1 in 8 adults among all disabled cases according to the same source. Similarly, according to the World Population Prospects in 2017, global population aged over 60 years was 962 million, which is expected to reach around 2.1 billion by 2050. Globally, population aged 60 years and above is increasing faster than all younger age groups. This group of population is highly susceptible to different types of age-related diseases such as diabetes, renal insufficiency and arthritis, metabolic change, Parkinson's disease, organ failures, and nervous disorders.
Moreover, increasing product development and focus on addressing issues faced by wheelchair users, by manufacturers, is expected to propel growth of the market over the forecast period. For instance, Sunrise Medical (US) LLC launched advanced power wheelchair in 2016. The wheelchair, designed by Sunrise Medical (US) LLC, is assembled with a suspension and has advanced seating system, which supports complex seating and positioning needs. Furthermore, this chair has electronic features and user control.
However, lack of awareness about advanced personal mobility devices and unavailability of service centers is expected to hinder the market growth. Low access to rehabilitation centers in emerging economies is mainly found due to lack of proper transportation service for the people with disabilities. Moreover, the number of rehabilitation centers is very low in emerging countries, which causes disabled people to travel for long distance to receive appropriate treatment.
Figure 2. Global Personal Mobility Devices Market Share (%), by End User, 2018 and 2026
Source: Coherent Market Insights Analysis (2019)
Rising geriatric population and increasing patient population with lower limb impairment or disability in the North America are expected to bolster the market growth
North America holds dominant position in the global personal mobility devices market, owing to the increasing geriatric population and growing patient population with limb impairment or disability. According to Centers for Disease Control and Prevention Report 2015, around 1.9 million people in the U.S. were living with limb loss due to diabetes, vascular diseases, infection, trauma, and cancer. Furthermore, as per Disabled World Journal Report 2013, there were around 6.8 million people in the U.S. who required assistive device for mobility, of which around 1.7 million people used wheelchair for mobility purpose.
Moreover, launch of products, investment, and acquisition strategies by market players is expected to propel growth of the personal mobility devices market. For instance, in August 2017, Invacare Corporation announced the launch of Invacare TDX SP2 Power Wheelchair with LiNX Technology and Motion Concepts Ultra Low Maxx Positioning System. The TDX SP2 Power Wheelchair is the new offering in North America and the company planned to manufacture the product at the Taylor Street manufacturing facility in Ohio, U.S.
Key Players
Major players operating in the global personal mobility devices market include Invacare Corporation, Pride Mobility Products Corporation, Drive Devilbiss Healthcare, Sunrise Medical (US) LLC, Permobil, Acorn Stairlifts Inc., Stannah International, Ottobock Healthcare, R&E Stricker Reha-Entwicklungen GmbH, Triride Srl, Klaxon Mobility GmbH, Alber GmbH, Spinergy, Inc., and Yamaha Motor Co., Ltd.
A personal mobility device is designed for a single person. These devices can be manual or powered by battery and also can be used with other accessories for travelling and independent living. The personal mobility devices are also used for participation in Paralympics sports events by the disabled athletes, so various models of these devices are developed for different games.
Market Dynamics
Rising number of disability cases due to falls, road accidents, spinal cord injuries, meningitis, and workplace is a major factor driving global personal mobility devices market growth. According to Centers for Disease Control and Prevention (CDC) 2016, 1 in 7 adults suffer from mobility disability in the U.S. Similarly, according to the World Health Organization (WHO) factsheet 2018, road accidents cause around 20 to 50 million injuries annually around the world.
Furthermore, product approval and product launch by key players for catering the consumers demand is expected to drive the market growth. For instance, in September 2018, Sunrise Medical (US) LLC launched new QUICKIE Q700 M SEDEO ERGO, an advanced mid-wheel drive power wheelchair. Similarly, in March 2018, Permobil AB launched its My Permobil consumer app. This new app connects with wheelchair and enables the user to view critical information about their chair's status such as battery charge and travel distance.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 36 market data tables and 29 figures on "Personal Mobility Devices Market - Global forecast to 2026”.
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