Mobility Devices Market to Exhibit 6.9% CAGR by 2026; Increasing Geriatric Population and Need for Independent Mobility to Bode Well for Market says Fortune Business Insights™
Pune, May 27, 2020 (GLOBE NEWSWIRE) — The global mobility devices market size is expected to witness substantial growth and touch USD 14.86 billion by the end of 2026 on account of the high prevalence of physical disabilities that require additional support for moving around. The latest mobility devices are technologically advanced and are designed ergonomically for enhancing the independence ability of the device. Such devices can be used by anyone from elderly adults to disabled people to children recovering from any injury. According to a recent report by Fortune Business Insights titled, “Mobility Devices Market Size, Share & Industry Analysis, By Product (Wheelchairs, Mobility Scooters, Walking Aids, and Others); By End-user (Personal Users and Institutional Users); and Regional Forecast, 2019-2026,” the market value was USD 8.75 billion earned in 2018. The forecast period is set between 2019 to 2026 and the market is likely to exhibit a CAGR of 6.9%.How fierce is the competition in this market?How will the prevalence of chronic diseases impact the market?How are players maintaining their foothold in the market?What is the future of this market?The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.Please visit: https://www.fortunebusinessinsights.com/industry-reports/mobility-devices-market-100520
Increase in Adoption Rate from Geriatric Population to Bolster GrowthThe increasing adoption of technological innovations in the healthcare and medical sector is considered a boon for this century. The rising prevalence of chronic diseases such as cerebral palsy, arthritis, muscular dystrophy, and others in different age groups is promoting the mobility devices market growth. Additionally, the increasing number of spinal cord injuries is also adding impetus to the growth of the market. As per the National Spinal Cord Injury Statistical Center, an average of 291,000 Americans suffers from spinal cord injuries annually and an estimated 17,730 injury of the spinal cord takes place alone in the United States.Moreover, the increasing number of the elderly population and their vulnerability to walking imbalance and falling may turn into fatal or non-fatal injuries. Therefore, most of the geriatric population opt for mobile devices for safe and sound traveling around both indoors and outdoors. The advent of automated rollators, mobility scooters, transfer lifts, and others will further only improve the adoption rate of mobility devices, thereby augmenting the market growth.Segment-Wheelchair Segment to Cover Largest Shares Due to Easy AccessibilityWith respect to segmentation by product, the wheelchair segment is holding the dominant share. In 2018, this segment earned 54.1% share owing to the increase in innate and accidental mobility deformities and easy accessibility of wheelchairs in both indoor and outdoor environments.Regional Analysis-North America will Dominant Market on Account of Presence of Key PlayersGeographically, North America earned USD 3.52 billion in 2018 and emerged dominant owing to the increasing geriatric population and rise in accident cases that led to mobility impairment. This, coupled with the presence of significant players in the U.S. is also aiding to the expansion of the regional market. Europe ranks second and Asia Pacific is likely to rise at a fast pace in the forthcoming years on account of improving healthcare infrastructure, the advent of better medical facilities, and the increasing number of developmental disability cases among children. Furthermore, the presence of high unmet needs and the rising awareness about technologically advanced mobile devices will help the markets in Latin America and the Middle East and Africa to grow notably in the near future.Key Players Offering Wide Product Range for More Revenue GenerationPermobil, Pride Mobility Products Corp., Ottobock, and Invacare Corporation are currently holding the leading position in the market. This is attributed to the strong distribution network and a wide range of product variety offered by these companies. Other manufacturers are engaging in developing highly advanced products to gain momentum in the market in the coming years.Major Industry Developments of the Mobility Device Market include:October 2019 – The availability of Carbon ultralight rollator was announced by ACRE in Canada and the U.S.November 2019 – A technologically advanced power-assist wheelchair system called SmartDrive MX2+ was launched by Permobil. It is an application for a smartwatch that helps users to tap on the wheel simply for controlling its actions via Bluetooth.GF HEALTH PRODUCTS, INC.Pride Mobility Products Corp.OttobockGF Health Products, Inc.PermobilSunrise Medical LimitedInvacare Corporation21st Century Scientific, Inc.Other players1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Number of people with Mobility Impairment using Mobility Devices- by Key Country/Region
4.2. Key Industry Developments (Mergers, Acquisitions, Partnerships, New Product Launches, etc.
4.3. The Regulatory Scenario for key Countries/Region
4.4. Technological Advancements in Mobility Devices
5. Global Mobility Devices Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Product
5.2.1. Wheelchairs
5.2.1.1. By Type
5.2.1.1.1. Manual
5.2.1.1.2. Powered
5.2.1.2. By Application
5.2.1.2.1. Standard Wheelchairs
5.2.1.2.2. Bariatric Wheelchairs
5.2.1.2.3. Sports Wheelchairs
5.2.1.2.4. Others
5.2.2. Mobility Scooters
5.2.2.1. By Wheel
5.2.2.1.1. 3 Wheels
5.2.2.1.2. 4 wheels
5.2.2.1.3. Others
5.2.3. Walking Aids
5.2.4. Others
5.3. Market Analysis, Insights and Forecast – By End User
5.3.1. Personal User
5.3.2. Institutional User
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Latin America
5.4.5. Middle East & Africa
TOC Continued….!!!
Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/mobility-devices-market-100520
Home Rehabilitation Products Market Size, Share and Global Trend By Product Type (Wheelchairs, General Aids, Body Support Devices, Positioning Devices), By Therapy Type (Physical Therapy, Occupational Therapy , Speech Therapy, Vision Therapy, Psychological Therapy, Aquatic Therapy, Music Therapy), By Patient Type (Adult, Pediatric), and Geography Forecast till 2026Wheelchair Market Size, Share & Industry Analysis, By Type (Manual & Powered), By Application (Standard Wheelchair, Bariatric Wheelchair, Sports Wheelchair, and Others) End-user (Personal User and Institutional User) and Regional Forecast, 2019-2026Mobility Scooter Market Size, Share & Industry Analysis, By Wheels (3 Wheels, 4 Wheels, and Others) End-user (Personal User and Institutional User) and Regional Forecast, 2019-2026Healthcare Asset Management Market Size, Share & Industry Analysis, By Product (Radiofrequency Identification (RFID), Real-time Location Systems (RTLS), and Others), By Application (Staff Management, Equipment Tracking, Patient Tracking, and Supply Chain Management), By End User (Hospitals, Laboratories, and Others) and Regional Forecast, 2020-2027About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Press Release: https://www.fortunebusinessinsights.com/press-release/mobility-devices-market-9550
