Global Personal Mobility Devices Market by Product (Walking Aids, Scooters, Wheelchairs) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global personal mobility device market was valued at USD 11 billion in 2020. It is projected to grow at a compound annual rate (CAGR), of 5.8% during the forecast period. The market was worth 47,515K Units in terms of volume in 2020. The market is driven by a growing target population, product development and an increasing number of accidents that cause disabilities. Market growth is also driven by the growing geriatric population, and the increasing incidence of chronic diseases around the world. A WHO report in 2018 estimates that the global geriatric population will rise from 7% in 2000, to 16% by 2050. According to the CDC, arthritis affected 54.4 million Americans between 2013 and 2015.

These conditions can be long-lasting and require continuous mobility aids. The demand for personal mobility aids will increase as 36.4 million adults with arthritis are expected to be living by 2040. The market will be driven by favorable reimbursement policies for rented and purchased devices. Medicare Part B also covers a few mobility devices such as wheelchairs and walkers. Canes, crutches, and canes. The patient must pay 20% out of pocket, and Medicare will pay the rest. Medicare also covers repairs and replacements for reimbursed mobility devices.

Indian government launched the Scheme of Assistance to Disabled Persons to Purchase/Fit of Aids/Appliances. This scheme aims to assist people with disabilities in obtaining high-quality, durable, modern, scientifically produced, standard aids and medical devices to support their social, psychological, physical, and mental rehabilitation. This provision will also help to increase the economic potential of purchasing mobility devices. Public work departments receive assistive devices to encourage independence and reduce disability. The market's most important driver is technological advancements in products.

Impact on COVID19: Reveneues took a hit due to the pandemic. Invacare's annual revenue fell 8.3% in 2020.

Mobility devices will see a significant increase in usage with the introduction of transfer lifts and mobility scooters. Segway's Personal Transporter and laser-enabled rollators for Alzheimer's patients by TOPRO are just a few examples of technological advances. The global market was negatively affected by the Covid-19 pandemic, which saw a decrease in demand and production of personal mobility devices. New market entrants will find it worthwhile to take proactive steps and implement policies during the forecast period.

Product Insights

In 2020, the wheelchair segment was responsible for 41% of the total revenue. It will continue to hold the top spot throughout the forecast period. The most commonly used assistive device in personal mobility is the wheelchair. The United Nations has appropriate legislation to support member states in the development, production and distribution of these mobility devices. The provision of wheelchairs that are appropriate for your needs increases mobility and quality of life. It also reduces common problems such as pressure sores and progression of deformities.

KD Smart Chair published data that showed the US had 3.3 million wheelchair users in 2020. This is just 1% of the population. The country has approximately 2 million new wheelchair users each year. This means that there is a higher demand for wheelchairs. In 2020, powered wheelchairs were the most profitable sub-segment in terms of revenue. This sub-segment has seen significant growth due to the rapidly growing global geriatric population as well as the increasing use of powered wheelchairs.

Over the forecast period, the section of walking aids is expected to experience a significant CAGR (CAGR) of 5.7%. The WHO estimates that 18% of the population had difficulty walking in 2011 according to their estimates. This is due to the increasing population. It will lead to a rise in the demand for walking aids. This segment can be further divided into rollators as well as other, which includes crutches, canes and walkers. The rollators can be divided into low- and premium models.

Premium rollators have advanced features such as lockable wheels, oxygen tank holders and hemiplegic handle, as well as locking wheels, oxygen tank holders and oxygen tank holders. They also come with lighter frames, larger wheel diameters, pressure brakes and increased weight-bearing capacities. The premium rollator market is expected to grow due to the rapid adoption of advanced technology rollators in North America and Europe.

Regional Insights

With a 33.4% revenue share, Europe was the dominant market for personal mobility devices in 2020. Due to rising rates of age-associated disease, growing geriatric population and favorable reimbursement policies for rental or purchase services, the regional market will continue to grow steadily over the next few years. Asia Pacific will be the fastest-growing region market between 2021 and 2028.

This can be attributed to the growing geriatric population of East Asian countries like Japan and China. The market will also be influenced by extensive R&D activities carried out by different organizations such as the China Rehabilitation Research Center. The Asia Pacific market is expected to grow due to rising disposable income, increased awareness, high healthcare spending, and government initiatives that aim at improving access to healthcare. For personal mobility research, the U.S. government has doubled funding to Rehabilitation Engineering Research Center programs.

According to data from the Human Resources and Skills Development Canada 14.3% of Canadians have disabilities related to sight, hearing and motion. A Disability Tax Credit Certificate was created by the Canadian government. It allows disabled people to pay very little tax. Individuals with disabilities have been supported and funded by the Ontario Ministry of Health and Long-Term Care.

Market Share Insights & Key Companies

To maintain their market position, these players are focused on adopting different growth strategies such as partnerships and expanding their product portfolio. Rollz, for instance, introduced Parkinson's rollingators at an international trade fair, Rehacare, in September 2020. This product was created for people suffering from Parkinson's disease-related freezing symptoms. This is one of the most innovative products in the company's portfolio. These are some of the major companies that make up the global market for personal mobility devices:

• DeVilbiss Healthcare

• GF Health Products, Inc.

• Invacare Corporation

• Carex Health Brands, Inc.

• Kaye Products, Inc.

• Briggs Healthcare

• Medline Industries, Inc.

• NOVA Medical Products

• Performance Health

• Rollz International

Up Market Research published a new report titled “Personal Mobility Devices Market research report which is segmented by Product (Walking Aids, Scooters, Wheelchairs), By Players/Companies INC; Invacare Corporation; Carex Health Brands, Inc; Kaye Products, Drive DeVilbiss Healthcare; GF HEALTH PRODUCTS, Inc; NOVA Medical Products; Performance Health; and Rollz International, Inc; Briggs Healthcare; Medline Industries”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Personal Mobility Devices Market Report Segments:

The market is segmented by Product (Walking Aids, Scooters, Wheelchairs).

Personal Mobility Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Personal Mobility Devices Market

Overview of the regional outlook of the Personal Mobility Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Personal Mobility Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Personal Mobility Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Walking Aids

                2. Scooters

                3. Wheelchairs

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Personal Mobility Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Personal Mobility Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.