Global Medical Mobility Aids Market to Reach Higher by 2027, Globally | UnivDatos Market Insights

NOIDA, India, Oct. 19, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Medical Mobility Aids Market is expected to grow at a CAGR of around 6% from 2021-2027, witnessing incremental growth of USD 3.8 billion during the forecast period. The analysis has been segmented into Product Type (Wheelchairs, Walkers, Crutches, Stretchers, Accessories, Others); End-Users (Hospitals & Clinics, Ambulatory Surgical Centers, Home Care Settings, Others); Region/Country.

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The Medical Mobility Aids market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Medical Mobility Aids market. The Medical Mobility Aids market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Medical Mobility Aids market at the global and regional levels.

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Market Overview

According to the United Nations, the global population aged 60 years or over was numbered 962 million in 2017 and is expected to reach nearly 2.1 billion by 2050. This rapidly growing geriatric population base is an indication of the growing prevalence of various age-related diseases including orthopedic disorders such as osteoarthritis and rheumatoid arthritis and others. Owing to these facts and the increasing prevalence of neurological disorders like Parkinson's disease, Epilepsy, Alzheimer's disease the demand for various mobility aids devices is increasing all over the globe. Furthermore, favorable reimbursement policies and continuous evolution and advancement in mobility aid devices are also some of the other factors contributing to the growth of the medical mobility aids market.

COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry and has transformed the way healthcare is delivered. The COVID-19 pandemic has significantly affected the medical mobility aids market owing to the disruption in the performance of the major mobility device manufacturers leading to a significant effect on businesses & financials of the market, including the accessibility of products among end-users.

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The global Medical Mobility Aids market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• Based on product type, the medical mobility aids market is segmented into wheelchairs, walkers, crutches, stretchers, accessories, and others. The wheelchair segment accounted for a significant market share in 2020 and it is estimated that it will exhibit the highest CAGR during the forecast period. The growth of this segment can be attributed to the popularity of these mobility aid devices among the elderly population.
• Based on end-users, the medical mobility aids market is divided into hospitals & clinics, ambulatory surgical centers, home care settings, and others. The hospitals & clinics segment is anticipated to grow at a rapid rate in the upcoming years owing to the increasing preference of consumers to get treatment in hospitals mainly due to the well-established healthcare infrastructure, and presence of highly skilled healthcare professionals.

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Medical Mobility Aids Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
• Rest of the World

Geographically, the North America region dominated the medical mobility aids market in 2020 owing to the growing number of people with mobility impairment in the region. Furthermore, with the rapid advancement in technology and rising awareness among the target population to become mobile, many industry players are focusing on expanding their product portfolio by launching new products in the market due to which the medical mobility aids market is witnessing an uptick all over the globe. For instance, in May 2021, Quantum Rehab, a global innovator of consumer-inspired complex rehab mobility technologies, launched J4 HD Power Chair offering a 400-pound weight capacity and optional Q4 HD Power Tilt. The J4 HD is engineered for tight-quarter maneuverability and has a narrow base width of 24.25 inches.

The major players targeting the market include

• Invacare Corporation
• Stryker Corporation
• GF Health Products, Inc.
• Sunrise Medical LLC
• Briggs Healthcare
• Benmor Medical Limited
• Medline Industries Inc.
• Ostrich Mobility Instruments Pvt. Ltd.
• Ottobock
• NOVA Medical Products.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Medical Mobility Aids market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Medical Mobility Aids market?
• Which factors are influencing the Medical Mobility Aids market over the forecast period?
• What are the global challenges, threats, and risks in the Medical Mobility Aids market?
• Which factors are propelling and restraining the Medical Mobility Aids market?
• What are the demanding global regions of the Medical Mobility Aids market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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Medical Mobility Aids Market Report Coverage

About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

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