Impact Analysis of Covid-19
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.
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