Published: Mar, 2018

The vendor landscape for the global personal mobility devices market features a moderate level of competition, with the top three companies, namely Invacare Corporation, Sunrise Medical LLC, and Hill-Rom Holdings, Inc., collectively accounting for nearly 36% of the overall market in 2015. With pressure rising from global consumers for economical products, the price rivalry among leading players has substantially increased in the recent times, observes Transparency Market Research in a recent report. Price wars are likely to become intense among companies as focus on cost-sensitive emerging markets has increased in the recent times.

According to the report, the market is likely to expand at a promising 7.30% CAGR over the period between 2015 and 2023, rising from a revenue valuation of US$6.65 bn in 2014 to US$12.7 bn by 2023.

North America to Continue to Account for a Large Piece of Revenue Pie

Of the key device types in the market, the segment of medical mobility aids and ambulatory devices dominated the global market in 2015. The segment is also expected to retain its top spot over the report’s forecast period, surging at a promising 8.5% CAGR over the period between 2015 and 2023. Geographically, the market has conventionally acquired a substantial share in its revenue from developed regions such as North America and Europe. The market in North America accounted for over 41% of the global market in 2014 and is likely to retain its leadership, thanks to innumerous policies and adequate facilities across organizations and public spaces for people with disabilities.

Rise in Employment Rate of People with Disabilities to Bode Well for Market Growth

Owing to the fact that aging often leads to conditions associated with bone density and mobility, consequently leading to the need for assistive and personal mobility devices, the mounting global geriatric population has been ascribed as one of the leading drivers for the global personal mobility devices. As long-term caregiving from families continues to become a rarity, the environment has become highly encouraging to the positive expansion of the global personal mobility devices.

The rise in the number of policies that delay the official age of retirement is also expected to have a positive implication on the market. With such policies being implemented on a global level, organizations will be required to put in place proper facilities for elderly. This will, in turn, lead to an increase in the demand for personal mobility devices in the near future. Moreover, the vast rise in the employment rate of people with disabilities across the globe is also likely to augur well for the market.

This review of the global personal mobility devices market based on a recent market research report by Transparency Market Research, titled “Personal Mobility Devices Market (Devices - Wheelchairs (Manual Wheelchairs, Electric Wheelchairs), Mobility Scooters (Boot Scooter, Midsize Scooter, Road Scooter), Canes (Folding Canes, Quad Canes, Offset Canes), Crutches (Axillary Crutches, Elbow Crutches, Forearm Crutches), Walkers (Standard Walkers, Knee Walkers, Rollators); Products - Patient Lifts (Manual Lifts, Power Lifts, Stand Up Lifts, Heavy Duty Lifts, Overhead Track Lifts), Stair Lifts (Indoor Stair Lifts, Outdoor Stair Lifts), Medical Beds (Electric Beds, Manual Beds - Stretchers, Low Beds, Water Beds), Bars and Railings, and Commodes and Showers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015–2023.”

For the study, the market has been segmented as follows:

Global Personal Mobility Devices Market, by Device Type

  • Medical Mobility Aids & Ambulatory Devices
  • Wheelchairs
    • Manual Wheelchairs
    • Electric Wheelchairs
      • Standard
      • Rehab
      • Obese/Bariatric
    • Scooters
    • Canes & Crutches
    • Walkers
    • Stair Lifts
    • Others
  • Medical Furniture & Bathroom Safety Products
    • Patient Lifts
    • Medical Beds
    • Bars & Railings
    • Commodes & Shower Chairs
    • Others

Global Personal Mobility Devices Market, by Geography

  • North America
  • Europe
  • Asia Pacific
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

About Us:

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

.