Digitization Fuels Cost of Personal Mobility Devices, Subsequently Limiting their Sales in Under-developed Economies, Reports TMR
A moderate level of competition exists among the key players in the global personal mobility devices market. As per the findings of Transparency Market Research (TMR), the top three players in the personal mobility devices market, Invacare Corporation, Hill-Rom Holdings, Inc., and Sunrise Medical LLC, together accounted for approximately 35.6% of the overall market in 2015. Presently, the industry comprises a few major players operating across each product segment. In the forthcoming years, TMR expects price wars to persist between leading players operating in the different market segments.
Spurred by the aforementioned factors, competition prevailing in the personal mobility devices market will intensify through the course of the report’s forecast period between 2015 and 2023. Furthermore, threat of substitution and considerable bargaining power of buyers will possibly escalate rivalry among the key market players.