Wheelchairs at Forefront of Demand for Personal Mobility Devices; Market to Register CAGR of 7.3% till 2023: Transparency Market Research

Sep 29, 2015, 11:30 ET from Transparency Market Research

ALBANY, New York, September 29, 2015 /PRNewswire/ --

According to a new market report published by Transparency Market Research "Personal Mobility Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023" the global personal mobility devices market was valued at US$6.7 bn in 2014 and is expected to grow at a high CAGR of 7.3% from 2015 to 2023, to reach an estimated value of US$12.7 bn in 2023.

Browse Market Research Report on Personal Mobility Devices Market: http://www.transparencymarketresearch.com/personal-mobility-devices-market.html

The report on global personal mobility devices market includes two major segments: medical mobility aids & ambulatory devices, and medical furniture & bathroom safety products. The medical mobility aids & ambulatory devices segment comprises six sub-segments: wheelchairs, scooters, canes & crutches, walkers, stair lifts, and others. The medical furniture & bathroom safety products segment comprises is classified into patient lifts, medical beds, bars & railings, commodes & shower chairs, and others. The market for these segments and sub-segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence.

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Rising preference for an independent lifestyle and attitudinal change of the elderly and disabled to explore the world coupled with increased longevity has fuelled the demand for mobility devices globally. Additionally, increased government support and reimbursement facilities are likely to further fuel the growth of this market in the future. These factors could propel the market to progress at a high CAGR of 7.3% during the forecast period from 2015 to 2023. The report offers a detailed description behind this high growth and outlines a possible growth trajectory at global as well as regional level in terms of volume and value of the market share for each mobility device segment. The report is thus, compiled with the prime intent of updating the stakeholders with the incumbent market dynamics through a graphical illustration and in-depth analysis of major sub-segments for each region considered in the study scope.

Browse Press Release of Personal Mobility Devices Market: http://www.transparencymarketresearch.com/pressrelease/personal-mobility-devices-market.htm

Wheelchairs were the largest sub-segment of the medical mobility aids and ambulatory devices segment, accounting for a share of 52.7% in 2014. The global wheelchairs market is also expected to witness the highest growth rate during the forecast period. Key factors attributed to the high growth of the sub-segment are increasing forms of disability associated with aging, physical injury or other diseases/disorders and rising demand for technologically advanced powered wheelchairs worldwide.

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Moreover, the recent industry estimates suggest that there are more than 160,000 people in the U.S. only who are using electric wheelchairs and scooters. With the rise in number of physically disabled people and the staggering cost of caregiver services, the demand for mobility devices will increase exponentially all over the world as in the U.S. in the future. Innovative products such as Medalist and Trident HD from Drive Medical and Jazzy Power Chair from Pride Mobility Products Corp and other innovative products such as mobility scooters and transfer lifts in automated versions will further fuel growth in this market. Medical beds were the largest sub-segment of the global medical furniture and bathroom safety products segment, accounting for a share of 53.0% in 2014.

Major players operating in the global market include Amigo Mobility International, Inc., Argo Medical, ArjoHuntleigh, Drive Medical, Graham-Field Health Products Incorporated, Hill-Rom Holdings, Inc., Invacare Corporation, Otto Bock Healthcare GmbH, Patterson Medical Holdings, Inc., Permobil AB, Pride Mobility Products Corporation, Stryker Corporation, and Sunrise Medical LLC. Most of these players are continuously innovating designs and portability features to cater to the multi-dimensional needs of the geriatric and disabled individuals globally.

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The global personal mobility devices market is segmented as follows:

Global Personal Mobility Devices Market, by Device Type 

  • Medical Mobility Aids & Ambulatory Devices
  • Wheelchairs
    • Manual Wheelchairs
    • Electric Wheelchairs
      • Standard
      • Rehab
      • Obese/Bariatric
    • Scooters
    • Canes & Crutches
    • Walkers
    • Stair Lifts
    • Others

Medical Furniture & Bathroom Safety Products 

  • Patient Lifts
  • Medical Beds
  • Bars & Railings
  • Commodes & Shower Chairs
  • Others

Global Personal Mobility Devices Market, by Geography 

  • North America
  • Europe
  • Asia Pacific
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

Browse All Other Medical Devices Research Reports: http://www.transparencymarketresearch.com/medical-devices-market-reports-6.html

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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