Personal Mobility Devices Market Is Expected To Reach USD 12,864.3 Mn By 2024

The latest market report published by Acute Market Reports, Inc. “Global Personal Mobility Devices Market – Growth, Future Prospects, Competitive Analysis, and Forecast, 2016 – 2024” the market for personal mobility devices was valued at USD 6,564.1 million in 2015 and is expected to reach USD 12,864.3 million by 2024, increasing to CAGR by 7.4 per cent from 2016 to 2024.

Market Insights

Personal mobility devices shall refer to any assistive device that facilitates individual human transportation. Although many of these devices are used by people with disabilities or mobility limitations, mobility aids can be used in general. Growing geriatric population and increasing prevalence of target bone diseases such as arthritis and osteoporosis among the elderly are key factors driving market growth during the forecast period.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/personal-mobility-devices-market

In addition, innovations in personal mobility devices and market penetration in developed countries would further fuel the market for personal mobility devices during the forecast period. Based on the type of products, the market for personal mobility devices is categorized as wheelchairs, scooters, walking aids, patient lifts and stair lifts. The wheelchair segment accounted for the largest share of the global market for personal mobility devices. The key factors assisting the overall market growth of wheelchairs segment are high usage rates and growing demand for powered wheel chairs and its rising implementation in home use, hospitals, airports, hotels and other public places. However, walking aids segment it is anticipated to achieve significant growth in the near future due to the growing popularity of three and four wheeled rollators.

In the base 2015, North America formed the largest market for personal mobility devices market. The factors driving the North America personal mobility devices market are presence of supportive government and reimbursement schemes, developed healthcare infrastructure and growing geriatric population in the region are the factors driving North America personal mobility devices market. Asia Pacific is expected to register the fastest growth rate during the forecast period. Large presence of untapped opportunities in the emerging markets of India and China and constantly improving healthcare infrastructure in these markets are some attributes accounting for the aforementioned conclusion. Moreover, growing geriatric population in China and Japan and increasing disposable incomes, rising awareness and healthcare expenditure levels and the presence of government initiatives aimed at improving healthcare access in the region are few also expected to fuel the market during the forecast period.

Market Competition Assessment:

The personal mobility devices market is observed as the competitive market comprising large number of local players.  The market is dominated by several players, depending on their major competencies. The key players in this market are Briggs Healthcare, Drive Medical Design & Manufacturing, Sunrise Medical, Electric Mobility, Patterson Medical, Pride mobility, Kaye Products, Nova, Eurovema AB, Graham-Field Health Products Incorporation, Invacare and TOPRO.

Key Market Movements:

• Growing geriatric population resulting in the rising in the bone diseases such as osteoporosis and arthritis
• Developing technologically advanced, compact and portable personal mobility devices
• Some major restrains for personal mobility devices market is the maintenance and purchasing cost

Report Scope by Segments

By Product Type

• Wheelchairs
  • Manual Wheelchairs
  • Powered Wheelchairs
• Scooters
• Walking Aids
  • Canes & Crutches
  • Rollators
• Patient Lifts
• Stair Lifts

By Geography Segment

 • North America (U.S., Rest of North America)

 • Europe (U.K., Germany, France, Rest of Europe)

 • Asia Pacific (China, Japan, India, Rest of Asia Pacific)

 • Rest of the World (Middle East & Africa, Latin America)