Personal Mobility Devices Market Future Forecast 2018-2026: Major Players Invaca

Posted by Rajkumar on April 25th, 2019

Personal mobility devices include wheelchairs, scooters, bicycles, and unicycles. Most of these devices are used by disabled people, who have restricted mobility. A personal mobility device is designed for use by single person. These devices can be manual or powered by battery. Increasing number of geriatric population is expected to favor growth of the personal mobility device market. According to data published by National Institute on Aging in 2010, it was estimated that 524 million people were aged 65 years or older that is 8% of the world's population and by 2050, it is expected to nearly triple and reach 1.5 billion, representing 16% of the world's population. This above statistics is expected favor growth of personal mobility devices market.

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The personal mobility devices market is estimated to be valued at US$ 7,821.2 Mn in 2017 and is expected to witness a robust CAGR of 7.6% during the forecast period (2017-2025).

Market Dynamics

The global personal mobility devices market is projected to witness significant growth over the forecast period, owing to advancements in technology. For instance, Japanese startup, Whill’s, Next Generation Wheelchair received FDA clearance in 2016. FDA clearance allows physicians to prescribe Model M as a medical device.

Rising number of disability cases along with growing geriatric population is expected to foster growth of the personal mobility devices market

Rising number of disability cases, due to various factors such as increasing number of road accidents, spinal cord injuries, meningitis, and workplace injuries are expected to favor demand for wheelchairs over the forecast period. According to World Health Organization (WHO), around 10% people among overall disabled people globally, require personal mobility devices for their daily activities and physical movement.

As per the 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 in 2015, as stated by CDC. Moreover, CDC also stated that in the U.S. there are around 39.6 million people aged 18 years and above are suffering from some physical functioning disability and this number is expected to grow in the near future. According to stats published by the Council for Disability Awareness (CDA), in 2013, in the U.S. 1 in 4 children under 20 years are expected to become disabled before they retire, due to various factors such as excess body weight, chronic disease for example, diabetes, high blood pressure, and back pain.

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Key players in the market include Invacare Corporation, Pride Mobility Products Corporation, Drive Devilbiss Healthcare, Sunrise Medical (US) LLC, Permobil, Stannah International, Acorn Stairlifts Inc., and Ottobock Healthcare.

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Rajkumar

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Rajkumar
Joined: February 13th, 2019
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