Personal Mobility Devices Market Analysis | CMI

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PERSONAL MOBILITY DEVICES MARKET ANALYSIS

• 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) - Size, Share, Trends, and Forecast 2018
  - 2026
• The global personal mobility devices market size
  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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Figure 1. Global Personal Mobility Devices Market
Value (US Mn), by Region, 2017
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Market Drivers

• Rising disability cases, owing to growing
  geriatric population, increasing number of road
  accidents, spinal cord injuries, meningitis, and
  workplace injuries are the leading factors
  expected to propel growth of the global Personal
  Mobility Devices Market.
• Increasing disability cases is expected to drive
  the global personal mobility devices market
  growth. According to Centers for Disease Control
  and Prevention (CDC), in 2013, over 53 million
  people in the U.S. were suffering from some form
  of disability. Furthermore, the most common type
  of disability found was mobility disability,
  which was around 1 in 8 adults among all disabled
  cases according to the same source. Similarly,
  according to the World Population Prospects in
  2017, global population aged over 60 years was
  962 million, which is expected to reach around
  2.1 billion by 2050. Globally, population aged 60
  years and above is increasing faster than all
  younger age groups. This group of population is
  highly susceptible to different types of
  age-related diseases such as diabetes, renal
  insufficiency and arthritis, metabolic change,
  Parkinson's disease, organ failures, and nervous
  disorders.
• Moreover, increasing product development and
  focus on addressing issues faced by wheelchair
  users, by manufacturers, is expected to propel
  growth of the market over the forecast period.
  For instance, Sunrise Medical (US) LLC launched
  advanced power wheelchair in 2016. The
  wheelchair, designed by Sunrise Medical (US) LLC,
  is assembled with a suspension and has advanced
  seating system, which supports complex seating
  and positioning needs. Furthermore, this chair
  has electronic features and user control.

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Market Restraints

• However, lack of awareness about advanced
  personal mobility devices and unavailability of
  service centers is expected to hinder the market
  growth. Low access to rehabilitation centers in
  emerging economies is mainly found due to lack of
  proper transportation service for the people with
  disabilities. Moreover, the number of
  rehabilitation centers is very low in emerging
  countries, which causes disabled people to travel
  for long distance to receive appropriate
  treatment.

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Figure 2. Global Personal Mobility Devices Market
Share (), by End User, 2018 and 2026
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Segment Information

• Rising geriatric population and increasing
  patient population with lower limb impairment or
  disability in the North America are expected to
  bolster the market growth
• North America holds dominant position in the
  global personal mobility devices market, owing to
  the increasing geriatric population and growing
  patient population with limb impairment or
  disability. According to Centers for Disease
  Control and Prevention Report 2015, around 1.9
  million people in the U.S. were living with limb
  loss due to diabetes, vascular diseases,
  infection, trauma, and cancer. Furthermore, as
  per Disabled World Journal Report 2013, there
  were around 6.8 million people in the U.S. who
  required assistive device for mobility, of which
  around 1.7 million people used wheelchair for
  mobility purpose.
• Moreover, launch of products, investment, and
  acquisition strategies by market players is
  expected to propel growth of the personal
  mobility devices market. For instance, in August
  2017, Invacare Corporation announced the launch
  of Invacare TDX SP2 Power Wheelchair with LiNX
  Technology and Motion Concepts Ultra Low Maxx
  Positioning System. The TDX SP2 Power Wheelchair
  is the new offering in North America and the
  company planned to manufacture the product at the
  Taylor Street manufacturing facility in Ohio,
  U.S.

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Key Players

• Major players operating in the global 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, RE Stricker
  Reha-Entwicklungen GmbH, Triride Srl, Klaxon
  Mobility GmbH, Alber GmbH, Spinergy, Inc., and
  Yamaha Motor Co., Ltd.

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