The latest market report published by Credence Research, Inc. “Global Personal Mobility Devices Market – Growth, Future Prospects, Competitive Analysis, and Forecast, 2016 – 2024” the personal mobility devices market was valued at USD 6,564.1 Mn in 2015, and is expected to reach USD 12,864.3 Mn by 2024, expanding at a CAGR of 7.4% from 2016 to 2024.
The purpose of the report is to illustrate the state of the market of Personal Mobility Devices, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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Personal mobility devices refers to any assistive device that facilitates individual human transportation. Although many such devices are used by people with disability or mobility restrictions, mobility aids can be employed generally. Increasing geriatric population and rising prevalence of target bone diseases such as arthritis and osteoporosis among the aged population are major factors driving the market growth during the forecast period. Moreover, innovations in the personal mobility devices and market penetration in the under developed countries would further fuel the personal mobility devices market during the forecast period. Based on the type of products, the personal mobility devices market is categorized into wheelchairs, scooters, walking aids, patient lifts and stair lifts. The wheelchairs segment accounted for the largest share in the global personal mobility devices market. The key factors assisting the overall market growth of wheelchairs segment are high usage rates and growing demand for powered wheel chairs and its rising implementation in home use, hospitals, airports, hotels and other public places. However, walking aids segment it is anticipated to achieve significant growth in the near future due to the growing popularity of three and four wheeled rollators.
In the base 2015, North America formed the largest market for personal mobility devices market. The factors driving the North America personal mobility devices market are presence of supportive government and reimbursement schemes, developed healthcare infrastructure and growing geriatric population in the region are the factors driving North America personal mobility devices market. Asia Pacific is expected to register the fastest growth rate during the forecast period. Large presence of untapped opportunities in the emerging markets of India and China and constantly improving healthcare infrastructure in these markets are some attributes accounting for the aforementioned conclusion. Moreover, growing geriatric population in China and Japan and increasing disposable incomes, rising awareness and healthcare expenditure levels and the presence of government initiatives aimed at improving healthcare access in the region are few also expected to fuel the market during the forecast period.
Market Competition Assessment:
The personal mobility devices market is observed as the competitive market comprising large number of local players. The market is dominated by several players, depending on their major competencies. The key players in this market are Briggs Healthcare, Drive Medical Design & Manufacturing, Sunrise Medical, Electric Mobility, Patterson Medical, Pride mobility, Kaye Products, Nova, Eurovema AB, Graham-Field Health Products Incorporation, Invacare and TOPRO.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Personal Mobility Devices buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Personal Mobility Devices contains:
Analysis and forecast of Personal Mobility Devices market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Personal Mobility Devices market;
Assessment and forecast of Personal Mobility Devices market development;
Financial and business profiles of the leading companies in the Personal Mobility Devices industry.
– Up to date working Personal Mobility Devices data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Personal Mobility Devices for the period 2018 to 2026
– Planned Personal Mobility Devices additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Personal Mobility Devices projects by region, key countries, and companies
– Details of major planned Personal Mobility Devices projects in the world up to 2026
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