Global Personal Mobility Devices Market, by Product Type (Wheelchair, Scooters, Handbikes, Walkers, Stair-lifts, Power Add On Products, and Others), by End User (Hospitals & Clinics, Ambulatory Surgical Centers, Urgent Care Center, Homecare Setting, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 7,818.5 million in 2017, and is projected to exhibit a CAGR of 6.7% over the forecast period (2018–2026).
Increasing product approvals and product launches by market players is expected to augment the market growth Key players in the market are focused on product development and product launch, which addresses the critical unmet needs of patients. For instance, in 2017, Invacare Corporation launched its latest TDX SP2 Power Wheelchair with LiNX Technology, for providers and therapists to fine-tune the power wheelchair’s speed, torque, and veer in real time using a smartphone, tablet, or PC. Similarly, in 2016, Sunrise Medical LLC launched QM-7 SEDEO ERGO power wheelchair, an advanced power wheelchair that offers a unique driving experience. Moreover, rising inorganic growth strategies by market players is expected to boost the market growth. For instance, in December 2017, Permobil acquired MAX Mobility to expand its offering of motorized power assist solution to users. Similarly, in June 2015, Pride Mobility Products Corporation acquired Stealth Products, the most recognized brand of complex rehab components in the industry, including positioning components and specialty drive controls.
Browse 36 Market Data Tables and 29 Figures spread through 256 Pages and in-depth TOC on ‘Personal Mobility Devices Market’- Global Forecast to 2026, by Product Type (Wheelchair, Scooters, Handbikes, Walkers, Stair-lifts, Power Add On Products, and Others), by End User (Hospitals & Clinics, Ambulatory Surgical Centers, Urgent Care Center, Home Care Setting, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the personal mobility devices market, click the link below:
Furthermore, rise disability cases, owing to increasing geriatric population and increasing injuries, is expected to drive the market growth. According to the World Health Organization (WHO) report, in 2013, South-East Asia had the second highest prevalence rate of moderate disability, which was around 16% and the third highest prevalence rate of severe disability that was 12.9%. Key players in the market are focused network expansion to offer their product globally. For instance, Mobilitise Ltd, an importer for Triride in U.K. market, and has secured around 10 retailers in the country and is looking for an additional set of businesses to join its network. Mobilitise Ltd expects to sell around 300 to 400 units of wheelchair in the U.K. market within 2019 to 2020.
Key Takeaways of the Personal Mobility Devices Market:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.