Home / Press Release / Global Mobility Aid Devices Market To Grow At A CAGR Of 4.4 % Between 2019 And 2027

Global Mobility Aid Devices Market To Grow At A CAGR Of 4.4 % Between 2019 And 2027

According to a new market report published by Credence Research, Inc., “Global Mobility Aid Devices Market (By Product (Walking Assistance, Wheelchairs and Others (Mobility Lifts, Mobility Scooters etc.)), By Application (Hospitals and Nursing Homes, Home Care, and Others (Emergency Care, Specialty Clinics etc.)).-Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, the global mobility aid devices market expected to witness a growth of 4.4% CAGR during the forecast period from 2019 to 2027.

Product Insights

The global mobility aid devices market is valued at 3,451.0 Mn expected to observe a significant growth, at a CAGR of 4.4% during the forecast period from 2019 to 2027. The World Health Organization in 2018 recommend that over a billion of people undergo with any kind of infirmity, which means about 15% of world’s population that is  about 190 million people have disabilities. The aforesaid reason is one of the key factor increasing the demand for mobility aid devices across the globe. Additionally, a number of NGOs are working for the betterment of disabled people and are contributing various mobility aids to them. For instance, Community Based Rehabilitation Biratnagar (CBRB) is one such NGO in Nepal that provide rehabilitation service to more than 3000 children and adults with disabilities. CBRB provides orthoses, prostheses and mobility aid devices to the people with disabilities in 16 districts of Nepal.           

The mobility aid devices market is segmented based on product, application and geography. Based on product, wheelchairs is the highest demanding mobility aid device globally. Manufactures are providing new wheelchairs by introducing advanced features which thereby, increasing the demand for mobility aid products. For instance, in May 2019 Sunrise Medical launched a new wheelchair. The Quickie Q500 M SEDEO Pro is very comfortable and can be customized according to the requirements of the customers. Further, based on geography, the mobility aid devices market was dominated by North America in 2018. The dominance is led by the presence of major manufacturers in North America region such as Invacare and Pride Mobility Products Corp. Moreover, schemes like Medical Aids Subsidy scheme that provides financial subsidies for hospital based programs is a crucial factor increasing the demand for mobility aid devices.  

Competitive Insights:

Major players identified in the mobility aid devices market are Invacare, Sunrise Medical, 21st century Scientific, Inc., Ottobock, Permobil, Pride Mobility Products Corp., GF Health Products, Inc., Meyra Group, BiKube, WHILL, Inc. and Besco among others. The major players are focusing on strategies such as acquisitions and development of new products and more. For instance, in October 2019, Invacare and Biralasoft have collaborated with one another. Through the acquisition Birlasoft is going to support Invacare by delivering IT services to Invacare. Invacare with the help of Birlasoft implemented a new analytical platform and moved its data center to cloud.

Browse the full report at https://www.credenceresearch.com/report/mobility-aid-devices-market

The Global Mobility Aid Devices Market is Segmented into:

Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Million

 By Product (2017-2027; US$ Mn)

 By Application (2017 – 2027; US$ Mn)

 By Geography Segment (2017-2027; US$ Mn)

*Complete segmentation list is on report page

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