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Mobility Aid Devices Market By Product (Walk Assistance, Wheelchairs, Others), By Application (Hospitals And Nursing Homes, Home Care, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

The global mobility aid devices market is valued at 3,451.0 Mn and likely to witness growth, with a CAGR of 4.4% during the forecast period from 2019 to 2027. The rise in the elderly population, sports injury, trauma cases or post-surgery, and new technology assessment in the mobility aid segment for improved outcomes are key factors driving the overall demand for mobility aid devices across the globe. Manufacturers are bringing new and enhanced mobility aid devices such as wheelchairs, mainly centralizing towards lightweight and sports-type. For Instance, in Oct 2018, Invacare launched a new feather-weight wheelchair. Moreover, the increasing trend of self-driven mobility devices is booming the mobility aid devices market. Furthermore, initiatives such as United Nations Standard Rules in the Equalization of Opportunities of Persons with Disabilities and the United Nations Convention on the Rights of Persons with Disabilities (CRPD) are some of the pretexts for the flourishing of the mobility aid devices market.

Rates of disability are higher among older people aged 60 years and older, which is a major reason for the growth of mobility aid devices. For Instance, according to World Report on Disability, the degree of disability is fastest growing in people aged 80 to 89. The report also suggests that the disabled population is increasing at 3.9% per year, and by 2050, about 20% of the population above 60 years is projected to be under the disabled category. Moreover, foundations such as Walkabout and American Wheelchair Mission contribute free-of-cost mobility aids and wheelchairs to needy people, increasing the global demand for mobility aid products. For Instance, in June 2017 Walkabout foundation organized a campaign. The Women4Walkabout was organized to donate wheelchairs to disabled people in London.

Market Snapshot

Wheelchair in the product segment holds the largest share in 2018 globally.

A wheelchair is the most commonly used mobility aid device and a national symbol for handicapped access. According to World Health Organization (WHO), in 2018, around 1.0% of the total population globally, approximately 75 million people, are dependent on a wheelchair due to a disability or injuries. Moreover, the readily available wheelchair and the comfort associated with them is also a key consideration for the dominance of the wheelchair market across the globe. For Instance, Clinton Health Access under AT2030 Programme suggests that 90% of disabled people have the accessibility to wheelchairs in high-income countries such as the U.S.A, Canada, and China. Additionally, technological advancement in the manufacturing of wheelchairs is also increasing the demand internationally. For Instance, in August 2017, Invacare launched a new wheelchair, TDX SP2. The Invacare TDX SP2 is a power wheelchair that includes a touch screen display, wireless programming, SureStep suspension, and a lock feature for enhanced stability.

North America held the maximum market share in 2018

North America holds the largest share in the mobility aid devices market and is most likely to hold a leading position in the forecast period. The dominance is supported by reasons such as the increasing geriatric population in the North American region. For Instance, in June 2018, United States Census Bureau suggested that the population of the U.S with Disabilities is 40.7 million, which accounts for 12.8% of the total population in the U.S. In addition, there are 3.6 million wheelchair users and 11.6 million cane user in the U.S. region. Increasing health awareness and the high spending capacity of people in the region are key factors supporting the dominance of mobility aid devices in the North American region. Moreover, various device manufacturers and government initiatives are also increasing the demand for mobility aid products in North America. For occurrence in September 2019, First Transit announced a safe wheel program. The safe wheel program aims to improve passenger safety by replacing damaged mobility aid devices in the North American region free of cost.

Competitive Insights

The major players identified in the mobility aid devices market include 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 the development of new products and acquisitions, and many more. For Instance, in August 2018, Sunrise Medical acquired Magic Mobility. Through this acquisition, Sunrise Medical aims to expand its product portfolio.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

Mobility aid devices market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global mobility aid devices market based on product, application, and geography.

Frequently Asked Questions

The market for Mobility Aid Devices is expected to reach 3,451.0 Mn in 2027.

The Mobility Aid Devices market is expected to see significant CAGR growth over the coming years, at 4.4%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Invacare, Sunrise Medical, 21st Century Scientific Inc., Ottobock, Permobil, Pride Mobility Products Corp., GF Health Products Inc., Meyra Group, BiKube, WHILL Inc. are some of the major players in the global market.

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Published Date:  Dec 2019
Category:  Healthcare
Report ID:   60077
Report Format:   PDF
Pages:   120
Rating:    4.2 (49)
Delivery Time: 24 Hours to 48 Hours   
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