Future Market Insights (FMI) in its recent study projects the personal mobility devices market to rise at a CAGR of 6% between 2020 and 2030. The market is expected to witness high demand for canes, crutches, wheelchairs, and other devices. Besides this, experts at FMI forecast the sales of mobility scooters to surge, driven by the increasing demand for innovative modes of transport.
Personal mobility devices are in high demand especially among people facing disability or impaired mobility. Heath issues such as physical disabilities, osteoarthritis or fracture can restrict the ability of movement in a person. Personality mobility devices are often used to assist in movement of such individuals.
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According to a study conducted by the World Health Organization, the population of people aged 60 years and higher is expected to total 2 billion by 2050, up from 900 million in 2015. It is a known fact that aged population are more vulnerable to diseases and health concerns, which may result in disability.
As per the Centers for Disease Control and Prevention (CDC), in the U.S. alone nearly 54.5 million people were affected by arthritis between 2013 and 2015. Globally, the number of people reporting disability or activity limitation is increasing. This connotes that it is more likely for the demand for personal mobility devices to surge in the forthcoming years.
Global personal mobility devices market is characterized with sizable presence of large MNCs as well as small star-ups. Concentration of these companies are evenly distributed in Europe, North America and East Asian tech-backed countries.
Some of the leading players operating in the global personal mobility devices market are Stryker Corporation, Invacare Corporation, GF Health Products Inc., Arjo AB, Compass Health Brands, Pride Mobility Products Corporation, Permobil Company, Hill-Room Holdings Inc., Klaxon Mobility GmbH, Briggs Medical service Company, Eurovema Mobility AB, Ottobock Holdings GmbH & Co. KG, Sunrise Medical LLC, TOPRO Ltd., and Drive Medical GmbH & Co. KG, and others.
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Acquisition is an important strategy adopted by some of the leading companies operating in the market. For instance in 2017, Permobil Company acquired Comfort Company, which specialized in seating and positioning of mobility devices to expand their service offerings.
In 2020, the company also announced that it is planning to acquire Supportec B.V, a Dutch manufacturer to further expand its seating and positioning solutions.
“The presence of several companies has rendered the personal mobility devices market highly fragmented and competitive in nature. In order to strengthen their foothold, these companies are likely to focus on acquisitions. Besides this, investing in innovations will remain a priority in the market,” said a lead FMI analyst.
Future Market Insights, in its new offering, provides an unbiased analysis of the global personal mobility devices market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the personal mobility devices market based on the product type (walking aids, mobility scooters, medical beds, wheelchairs and others), End-user (hospitals & clinics, long term care centres, households, and others), and sales channel (wholesalers/distributors, online retailers, multi-brand stores, and specialty stores) across six major regions.
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