Personal Mobility Devices Market is Projected to Develop at a CAGR of 7.1% during the Forecast Period, mentions TMR Study

News provided by

Jul 15, 2022, 07:30 ET

Technological developments in mobility aids or assistive devices to promote older people's mobility are projected to broaden the scope of personal mobility devices market
An increase in injuries due to traffic accidents is likely to drive the personal mobility devices in Asia Pacific

WILMINGTON, Del., July 15, 2022 /PRNewswire/ -- The value of the global personal mobility devices market stood at US$ 10.4 Bn in 2021. The global market is projected to rise at a CAGR of 7.1% during the forecast period, from 2022 to 2031. The global personal mobility devices market is likely to surpass value of US$ 20.5 Bn by 2031. The introduction of technologically advanced products and an increase in automobile accidents resulting in impairments are projected to support growth of the global personal mobility devices market. In addition, expanding geriatric populace and the increasing prevalence of chronic illnesses are anticipated to support positive future market outlook for personal mobility devices.

Additionally, it is anticipated that an increase in the frequency of chronic diseases including muscular dystrophy, cerebral palsy, and arthritis across all age groups is estimated to fuel demand for highly improved mobility aids. The distribution of personal mobility devices is a crucial component of healthcare in nations including the Philippines, South Africa, Cuba, Guyana, Indonesia, Mozambique, and Costa Rica. These devices are given by the Ministry of Health in these countries. The Ministry of Social Welfare is in charge of providing mobility aids in various nations, including Vietnam, Eritrea, Ethiopia, and India. In the near future, it is anticipated that these nations will present development prospects for the global personal mobility devices market.

Personal mobility devices market demand analysis estimates that the wheelchairs category makes up a considerable portion of the global market, which is largely focused on high-income regions and is highly fragmented. Less than half of the global personal mobility devices market is controlled by the top four manufacturers, which are Invacare, Sunrise Medical, Ottobock, and Permobil.

Request Brochure of Personal Mobility Devices Market Research Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=6715

Key Findings of Market Report

The incidence of traffic accidents and serious injuries is driven by poor infrastructure, increasing number of automobiles, and bad roadways. According to a World Health Organization (WHO) estimate, 20 million to 50 million individuals worldwide suffer non-fatal injuries each year due to traffic accidents. As a result, it is anticipated to drive growth opportunities in personal mobility devices market in the forthcoming years.
The number of people over 65 years is growing rapidly all over the world. With aging, one's capacity to do physical tasks declines. The number of elderly people using mobile devices is probably going to rise, mostly due to their fear of falling. This factor is likely to increase demand and present considerable growth opportunities for the key players in the personal mobility devices market.
Medical furniture & bathroom safety devices and medical mobility aids & ambulatory devices now make up two product segments of the global market for personal mobility devices. In 2021, medical mobility aids & ambulatory devices represented a significant market share for personal mobility devices market.

Request for Analysis of COVID-19 Impact on Personal Mobility Devices Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=6715

Global Personal Mobility Devices Market: Growth Drivers

Based on distribution channel, hospital pharmacies accounted for a sizeable market share in 2021, making up over 50% of it. The presence of licensed doctors and the anticipated increase in prescription filling demand at different hospital pharmacies are expected to boost the category. Additionally, the reliability on the quality and pricing of the pharmaceuticals as well as advice from qualified specialists on drug use are anticipated to fuel segment development.
In 2021, North America held a sizable portion of the global market for personal mobility devices, amounting to over 40%. The region's market for personal mobility devices is anticipated to expand steadily over the next years as a result of rising aging-related illness prevalence and rising healthcare costs. Additionally, the market is anticipated to grow due to advances in healthcare infrastructure and attractive reimbursements for purchase or rental of these devices.

Get Exclusive PDF Sample Copy of Personal Mobility Devices Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=6715

Global Personal Mobility Devices Market: Key Players

Some of the key market players are

Sunrise Medical (US) LLC
Hill-Rom Holdings, Inc.
GF Health Products, Inc.
Patterson Companies, Inc.
Pride Mobility Products Corp
Stryker Corporation

Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=6715

Global Personal Mobility Devices Market: Segmentation

Product

Medical Mobility Aids & Ambulatory Devices
Medical Furniture & Bathroom Safety Products

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Research Reports by Transparency Market Research:

Smart Medical Devices Market: The global smart medical devices market is expected to reach the value of US$ 70.1 Bn by the end of 2028 and to expand at a CAGR of 7.5% from 2021 to 2028.

Durable Medical Equipment Market: The global durable medical equipment (DME) market was valued at US$ 153.1 Bn in 2018 and is anticipated to expand at a CAGR of 6.2% from 2019 to 2027.

Assistive Technologies for Visually Impaired Market: The global assistive technologies for visually impaired market is expected to exceed the value of US$ 13.9 Bn by the end of 2031.

Elderly and Disabled Assistive Devices Market: The global elderly and disabled assistive devices market is expected to reach the value of US$ 31.6 Bn by the end of 2028.

Home Healthcare Market: The global home healthcare market is expected to reach the value of US$ 499.6 Bn by the end of 2028.

Ambulatory Cardiac Monitoring Devices Market: The global ambulatory cardiac monitoring devices market was valued at US$ 13.5 Bn in 2020 and is projected to expand at a moderate CAGR from 2021 to 2031.

Robotic Rehabilitation and Assistive Technologies Market: The global robotic rehabilitation and assistive technologies market is anticipated to reach more than US$ 5.5 Bn by 2031.

Thoracic Drainage Devices Market: The global thoracic drainage devices market is anticipated to reach more than US$ 962 Mn by 2031. The global market is projected to grow at a CAGR of 4.6% from 2022 to 2031.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]