Personal Mobility Devices Market: USD 3.75 Billion Growth Forecasted at a CAGR of 7.68% between 2024 to 2028 - Technavio

NEW YORK, Jan. 26, 2024 /PRNewswire/ -- The Personal Mobility Devices Market is set to experience substantial growth, projecting an increase of USD 3.75 billion at a notable CAGR of 7.68% between 2023 and 2028, as forecasted by Technavio. The surge in orthopedic and neurological conditions is identified as a key driver propelling the demand for personal mobility devices. Orthopedic issues such as arthritis, knee problems, and post-surgery recovery necessitate devices like wheelchairs, while the rising incidence of spinal muscular atrophy amplifies the demand for mobility aids. The market caters to diverse needs, including specialized products like bariatric electric wheelchairs for obese individuals. The increasing prevalence of orthopedic and neurologic disorders is projected to fuel market growth during the forecast period. For a better understanding of market dynamics and trends, download a free sample report.

Market Segmentation and Challenges:
The report delves into market dynamics, highlighting the trend of automating manually operated personal mobility products as a primary driver. Automation, technological advances, and the addition of new features contribute to the growth of the Personal Mobility Devices Market. However, the high cost associated with personal mobility devices poses a challenge, hindering market growth.

This report has segmented the market based on end-users, products, and geography.

• End-users: Homecare, Hospitals, and others
• Products: Wheelchairs, Walking aids, Scooters, and others
• Regional Analysis: North America is projected to contribute 37% to the global market growth, with the US dominating the region.

"The increasing aging population and the prevalence of conditions like arthritis and brain strokes drive the demand for personal mobility devices in the region." – Technavio Explore the market contribution of different segments and regions by downloading the free PDF sample report.

Personal Mobility Devices Market 2024-2028 : Companies Analysis

We provide a detailed analysis of around 25 vendors operating in the Personal Mobility Devices Market, including some of the vendors such as vendors Backed with competitive intelligence and benchmarking, our research reports on the Personal Mobility Devices Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

A few leading companies in the Personal Mobility Devices Market include Comfort Orthopedic Co. Ltd., ComfyGO Inc., GF Health Products Inc., Golden Technologies, Hoveround Corp., Invacare Corp., Karma Medical Products Co. Ltd., and others are working on their strategies such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches to fortify their market presence.
For a comprehensive overview of the competitive landscape and detailed company analyses, buy the report now.

Personal Mobility Devices Market 2024-2028 : Segmentation

Personal Mobility Devices Market is segmented as below:

• End-user 

• Homecare
• Hospitals
• Others

• Product 

• Wheelchairs
• Walking Aids
• Scooters And Others

• Geography 

• North America
• Europe
• Asia
• Rest Of World (ROW)

Learn more about the additional trends impacting the future of the market and the positive and negative consequences on the businesses., download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR77253

Market Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our personal mobility devices market report covers the following areas:

• Personal Mobility Devices Market size
• Personal Mobility Devices Market trends
• Personal Mobility Devices Market industry analysis

This study identifies Automation of manually operated personal mobility products as one of the prime reasons driving the personal mobility devices market growth during the next few years.

Related Reports:
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The Global Patient Monitoring Equipment Market size is estimated to grow by USD 20.39 billion at a CAGR of 8.48% between 2022 and 2027.

Table Of Contents :

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Competitive Landscape

12 Competitive Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

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Website: www.technavio.com/

SOURCE Technavio