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Market Research Report

Global Mobility Assist Devices Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Published On : 2017-09-13 Report Page : 240 Category:Healthcare

Global Mobility Assist Devices Market

Market Overview

Global mobility assist devices market is one of the growth potential markets across the globe. Rapid pace advancement in mobility assist devices is raising the popularity of mobility assist devices among healthcare facilities. About 20% of the world's population is suffering from some kind of disability whether it is physical or intellectual. The demand for mobility assist devices is rising on the back of growing need of mobility devices among aged population. Most commonly used mobility assist devices are electric scooters, crutches and wheel chairs, among these mobility assist devices, wheelchairs are the most commonly used device. According to WHO, there will be more than 16% of population with age more than the 65 years who are more prone to the mobility impairing disorders and disease. The favorable acts and initiatives taken by government to aid the disables and old people are also expected to boost the market of mobility assist devices across the globe.

Global mobility assist devices market is up surging due to advancement in technology of mobility devices and new innovations in the healthcare industry. Growing awareness among the population is also one of the key factors which are pushing the mobility assist devices manufacturers to increase the supply into the market. Developing healthcare infrastructure and hospitals also aid to the growth of mobility assist devices market. However, unfavorable reimbursement policies in various countries and dearth of healthcare facilities are the major challenges for market players. There is a huge potential for advanced mobility assist devices in untapped regions such as Africa and others.

According to Center for diseases control and prevention (CDC), the number of people suffering from arthritis in the United States is increasing rapidly owing to hectic and unhygienic lifestyle. In U.S., more than 70 million people are expected to suffer from arthritis disease by the end of 2030. The rising numbers of arthritis patients along with favorable healthcare reforms are creating huge opportunities for the market players to introduce more products into the market.

Market Segmentation

  • By Products
  • Wheel Chairs
  • Manual Wheel Chairs
  • Electric Wheel Chairs
  • Walking Aids
  • Canes & Crutches
  • Walkers
  • Rollators & Tri-Walkers
  • Mobility Vehicles and Scooters
  • By End Users
  • Hospitals
  • Household
  • Others (airport, hotels, railways, etc)
  • By Geography
  • North America (US, Canada) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

Growth Drivers and Challenges

According to WHO, there will be a rise in global elderly population from 900 million to 2 billion by 2030, and specific developing regions like Latin America and Asia tends to witness the growth in elderly population from 7.9% to 12.1% of their total population by 2030, providing favorable conditions for the key players of mobility assist device market. Also, increasing rate of chronic and acute diseases along with rising aging population further propel the demand for advanced mobility assist devices. Rising demand for advanced mobility assist devices further pushes the manufacturers to deliver new technology and innovative products. Government's initiatives and policies for the old and disabled people by reducing their taxes, providing financial support and establishments of rehabilitation centers for old people can boost the demands of mobility assist devices globally.

Although, high cost of advanced mobility assist devices is one of the major factor which is restraining the growth of mobility assist devices market. Likewise, lack of awareness towards mobility devices and slow adoption of mobility assist devices in low income countries are hindering the demand for mobility assist devices. The involvement of technology and continuous research and development to introduce innovative products are increasing the cost of mobility assist devices which is creating a huge barrier for market players to generate revenue.

Market Size and Forecast

Global mobility assist devices market accounted for USD 6.4 Billion in 2016 and the market is expected to reach USD 12.3 Billion by the end of 2024. Further, the market is anticipated to expand at a compound annual growth rate of 8.5% over the forecast period i.e. 2016-2024.

Geographically, North-America is the dominating region with 38.6% of revenue share in global mobility assist devices markets. The region is expected to dominate the region over the forecast period owing to introduction of new and innovative products by the established market players in United States. Europe accounted for over 30% of revenue share in global mobility assist devices market in 2016 and was the second largest consumer of mobility assist devices. Asia-Pacific is projected to grow at a considerable rate. China and India are expected to be the fastest mobility assist device market in Asia region owing to the large pool of patients and improving healthcare facilities in these regions. Developing countries such as Brazil and Mexico also showcasing significant growth in mobility assist devices market and expected to share significant revenue in global mobility assist devices market over the forecast period.      

Key Market Players

  • Sunrise Medical LLC
  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis
  • Pride Mobility
  • Solax Mobility
  • Invacare Corporation
  • Merits Health Products Inc
  • Golden Technologies
  • Medline industries
  • Healthcare GmbH
  • Hoveround Corporation
  •  LEVO AG
  • Permobil AB
  • Merivaara Corporation

Scope Background

Market Synopsis

Market Segmentation

Global mobility assist devices market is segmented as follows:

  • By Product (Market Size, Demand Analysis and Growth Analysis)
  • By Application (Market Size, Demand Analysis and Growth Analysis)

Global Mobility Assist Devices Market Report covered insights of below mentioned regions:

  • North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
  • Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
  • Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
  • Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
  • Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
  • Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

  • Risk Factors
  • Regional Variations
  • Recent Trends and Developments

Key Market Players

  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks


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