Personal Mobility Devices Market to Surpass US$ 17,736.7 Mn by 2030

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) is estimated to be valued at US$ 10,586.4 Million in 2022 and is expected to exhibit a CAGR of  6.7% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

Major players operating in the market are adopting inorganic growth strategies such as acquisition is expected to drive the global personal mobility devices market. For instance, in December 2017, Permobil,  advanced assistive solutions company acquired MAX Mobility, Digital Transformation & Mobile App Development Company to expand its offering of motorized power assist solution to users.

Global Personal Mobility Devices Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a negative impact on the global personal mobility devices market, owing to hamper in the supply chain and the lack of availability of raw material to manufacture personal mobility devices due to COVID 19 pandemic. For instance, in August 2022, according to the data published by the U.S. Food and Drug Administration, the Secretary of Health and Human Services (HHS) declared a public health emergency (PHE) exists nationwide relating to the multi-state outbreak of monkey pox cases and mobilized the operating divisions of Health and Human Services (HHS). During or in advance of a Public Health Emergency (PHE), device manufacturers are required to notify FDA of discontinuances or interruptions in the manufacture of certain devices that are likely to lead to a meaningful disruption in the supply of that device in the U.S., including those that are critical to public health during a PHE and according to section 506J(a) of the FD&C Act. Due to the ongoing Public Health Emergency (PHE) declaration relating to the Coronavirus Disease 2019 (COVID-19) pandemic, the requirement to report such disruptions and discontinuances is already in effect. The Coronavirus Disease 2019 (COVID-19) pandemic triggered unprecedented increased demand for some medical devices, as well as significant disruptions to global medical device manufacturing and supply chain operations. The Food and Drug Administration is monitoring the medical product supply chain and working closely with manufacturers and other stakeholders to evaluate the risk of disruptions and to prevent or reduce their impact on patients, health care providers, and the health of the public at large. The COVID-19 pandemic had placed healthcare systems around the world under tremendous pressure, which has in turn posed a major challenge for the medtech industry to meet increased demand for its products. While COVID-19 has caused an exceptional level of disruption, it is not the only threat to the medtech value chain. The key players in the market were facing problems due to lockdown and restrictions of import and export imposed by the government of different countries.

Global Personal Mobility Devices Market: Key Developments

On April 21, 2022, Drive DeVilbiss Healthcare, medical device company, announced the launch of new products and coming up with innovative updates on existing models. As a manufacturer and distributor of a wide range of healthcare products, the business responded to a huge increase in demand for vital medical equipment and the Drive DeVilbiss Healthcare is working on the launch on new personal equipment products.

Browse 36 Market Data Tables and 29 Figures spread through 256 Pages and in-depth TOC on “Global Personal Mobility Devices Market”-  Forecast to 2030, 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, 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 this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/personal-mobility-devices-market-1662

Moreover, increasing launch of new product is expected to drive the market over the forecast period. For instance, in May 2018, Drive DeVilbiss Healthcare, medical device company, announced the addition of the new Sports Ball Cane Tips to its canes and crutches line, the sport‐themed cane tips help in the personal mobility. Drive DeVilbiss Healthcare manufactures a complete line of medical products, including mobility products, sleep and respiratory products, beds, bariatric products, wheelchairs, sleep surfaces and pressure prevention products, self‐assist products, power operated wheelchairs, rehabilitation products, resident room equipment, personal care products and electrotherapy devices.

Key Takeaways of the Global Personal Mobility Devices Market:

• The global personal mobility devices market is expected to exhibit a CAGR of 6.7% during the forecast period due to incidence of traffic accidents and serious injuries is driven by poor infrastructure, increasing number of automobiles, and bad roadways. For instance, in 2018, according to the World Health Organization (WHO) estimate, 20 million to 50 million individuals worldwide suffer non-fatal injuries each year due to traffic accidents.
• Among end user, the Hospitals & Clinics segment is estimated to hold a dominant position in the global personal mobility devices market over the forecast period, owing to the increased demand of personal mobility devices for geriatric population and due to increasing incidents of major accidents involving physical disabilities. For instance, in November 2021, according to the data published by the ResearchGate, ageing includes a decline in accommodation (presbyopia), glare tolerance, adaptation, low-contrast activity, attentional visual fields and colour discrimination. Changes occur in central processing and in the components of the eye. These numerous changes affect reading, balancing and driving.
• Among regions, North America is estimated to account for the largest market share in the global personal mobility devices market over the forecast period, owing to the increasing geriatric population and growing patient population with limb impairment or disability. For instance, according to the data published by the National Center for Biotechnology Information, in 2019, highest percentages of people with disabilities were in the U.S. population ages 65 and over; more than one third of the civilian population for this age group (35.2%) had a disability. 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.

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.