Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Personal Mobility Devices Market, by Product Type (Wheelchair, Scooters, Handbikes, Walkers, Stair-lifts, Power Add On Products, and Others), by End User (Hospitals & Clinics, Ambulatory Surgical Centers, Urgent Care Center, Homecare Setting, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 7,818.5 million in 2017 and is expected to exhibit a CAGR of 6.7% over the forecast period (2018-2026).
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Increasing product approvals and product launches by market players is expected to augment the market growth.
Major players in the market are focusing on product development and product launches, in order to cater to critical unmet needs of patients. For instance, in 2017, Invacare Corporation launched its latest TDX SP2 Power Wheelchair with LiNX Technology, for users and therapists to fine-tune the power wheelchair’s speed, torque, and veer in real time using a smartphone, tablet, or PC. Furthermore, in 2016, Sunrise Medical LLC launched QM-7 SEDEO ERGO power wheelchair, an advanced power wheelchair that offers unique driving experience. Additionally, rising adoption of inorganic growth strategies such as acquisitions by market players is expected to drive the market growth over the forecast period. For instance, in December 2017, Permobil acquired MAX Mobility to expand its product offerings of motorized power assist solution to users. Furthermore, Pride Mobility Products Corporation acquired Stealth Products, the most recognized brand of complex rehab components in the industry such as positioning components and specialty drive controls, in June 2015.
Browse 36 Market Data Tables and 29 Figures spread through 256 Pages and in-depth TOC on ‘Personal Mobility Devices Market’- Global Forecast to 2026, by Product Type (Wheelchair, Scooters, Handbikes, Walkers, Stair-lifts, Power Add On Products, and Others), by End User (Hospitals & Clinics, Ambulatory Surgical Centers, Urgent Care Center, Home Care Setting, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Furthermore, rising number of disability cases, attributed to increasing geriatric population and growing number of injuries, which is expected to drive the market growth over the forecast period. For instance, according to the World Health Organization (WHO) report, in 2013, South-East Asia had the second highest prevalence rate of moderate disability, which accounted for 16% and the third highest prevalence rate of severe disability, which accounted for 12.9%.
Moreover, key players in the market are focusing on network expansion to offer their product, globally. For instance, Mobilitise Ltd, an importer for Triride in U.K. market, secured around 10 retailers in the country and is looking for an additional set of businesses to join its network. Mobilitise Ltd estimates to sell around 300 to 400 units of wheelchair in the U.K. market within 2019 to 2020.
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Key Takeaways of the Personal Mobility Devices Market:
- The global personal mobility devices market is expected to exhibit a CAGR of 6.7% over the forecast period, attributed to increasing number of disability cases. For instance, according to stats published by the Council for Disability Awareness (CDA), in 2013, in the U.S., 1 in 4 children under 20 years of age are expected to become disabled before they retire due to various factors such as excess body weight, chronic disease (diabetes, high blood pressure), and back pain.
- Among product type, wheelchair segment held a dominant position in the global personal mobility devices market in 2018, attributed to technical advancements and innovations by market players. For instance, in 2017, a self-driving wheelchair was developed by MIT’s Computer Science and Artificial Intelligence Laboratory and researchers in Singapore, for use in hospitals.
- Major players operating in the personal mobility devices market include Invacare Corporation, Pride Mobility Products Corporation, Drive Devilbiss Healthcare, Sunrise Medical (US) LLC, Permobil, Acorn Stairlifts Inc., Stannah International, Ottobock Healthcare, R&E Stricker Reha-Entwicklungen GmbH, Triride srl, Klaxon Mobility GmbH, Alber GmbH, Spinergy, Inc., and Yamaha Motor Co., Ltd.
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