Medical mobility aid, also known as repositioning aid or device, is primarily used in healthcare facilities for mobility of patients. They provide an easy and safe way to move and transfer patients, helping them to be more independent and mobile. Medical mobility aid is required for an older population for day-to-day activities, for those recovering from surgery or injury or any other medical condition, and also by those who are injured permanently. It is also useful for children with birth defects or who are mentally challenged. A medical mobility aid can be a complex electronic powered machine or a basic structure. Medical mobility aid has wide application in healthcare, especially in orthopedics and general medical devices.
The medical mobility aid market can be classified in terms of product type, end user, and geography. Based on product type, the medical mobility aid market is segmented into wheelchairs, walkers, crutches, stretchers, rollators, accessories and others. Wheelchairs are further classified into electric wheelchairs and manual wheelchairs. Electric wheelchairs are likely to show lucrative growth during the forecast period due to increase in acceptance of electric wheelchairs by patients which make them more independent and mobile. Accessories include the gait belt, ramps, boards, tips, and others. End users for the medical mobility aid market are hospitals, clinics, ambulatory surgical centers, home care settings and others. Hospitals are likely to hold the largest share of the market due to requirement of medical mobility aids mostly in hospitals due to the high inflow of patients in hospitals and since these aids are mostly required for transfer of patients to various departments for procedures and examinations.
Geographically, the medical mobility aid market can be divided into five regional markets. These include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to hold the major share of the market due to advance healthcare facilities and increasing use of medical mobility aids in orthopedic and physiotherapy departments of hospitals for patient recovery post treatment. The emerging markets in Asia Pacific, Latin America, and the Middle East & Africa are estimated to register strong growth during the forecast period 2017-2025. This is attributed to growing health care industry, increasing investments by leading players operating in these countries, and the aging population leading to growth in the patient population in these countries. China, Brazil, and India are anticipated to drive solid growth among the emerging countries, due to the rising investments by government bodies to improve hospitals and other healthcare facilities.
Additionally, there are a number of aspects that affect the growth of the medical mobility aid market. Some of the key factors include development and advancement of products, rising demand for these products in hospitals, and rise in global geriatric population. Other important growth drivers include technological improvement in medical mobility aid products and rise in the number of special orthopedic surgeries like hip and knee surgery, likely to boost the market in the near future. The market is also observing certain restraints or challenges in its path such as the stiff competition among existing product manufacturers along with the development of other substitute technologies. Additionally, availability of regional and international players and product recalls are also restraining the growth of this market.
The medical mobility aid market is highly competitive due to the existence of numerous international and regional players. Key companies operating in the global market are Invacare Corporation, GF Health Products, Inc., Stryker Corporation, Sunrise Medical (US) LLC, Briggs Healthcare, Benmor Medical (UK) Limited, Evolution Technologies Inc., Permobil Group, Ostrich Mobility Instruments Pvt. Ltd., Ottobock and many other prominent players.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.