The global medical mobility aids market is expected to grow at a CAGR of 4.5% during the period 2017-2021.
The report, Global Medical Mobility Aids Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
According to the report, one of the major drivers for this market is the growing healthcare expenditure. Healthcare expenditure includes medical expenses incurred by patients on all health goods and services, including diagnosis, treatment, and post-treatment services. In some cases, part of the medical bill is reimbursed as per the reimbursement policies followed in the respective country.
Due to numerous factors such as disposable income, reimbursement policies, and the availability of healthcare facilities, the healthcare expenditure varies from region to region across the globe. Owing to the favorable presence of these factors in developed countries, such as the US, Canada, the UK, Germany, and France, individuals can avail sophisticated patient care services as well as home care services. The increased patient care services are leading to the purchase of sophisticated healthcare equipment and mobility aids.
Further, the report states that one of the major factors hindering the growth of this market is the high cost of clinical rollators. Mobility aids are used in healthcare centers and home care settings for assisting the mobility of patients. Among these clinical mobility products, the clinical rollator is perceived as a low-end premium product, which is priced comparatively higher than other medical mobility aids such as stretchers and walkers. There is a substantial cost difference between a cane and a rollator. The price difference is due to the difference in product features such as stability and balanced and smooth mobility, which leads to the increased unit price of a clinical rollator. Due to the availability of mobility options at minimal human effort, the clinical rollators are highly adopted by the geriatric population and patients with mobility issues, and the demand for the product is on the rise.