Dublin, May 25, 2021 (GLOBE NEWSWIRE) -- The "Mobility Aid Devices Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global mobility aid devices market is valued at 3,451.0 Mn and likely to witness growth, with a CAGR of 4.4% during the forecast period from 2021 to 2029.
Rise in the number of elderly population, sports injury, trauma cases or post-surgery, and new technology assessment in the mobility aid segment for improved outcomes are key factors driving the overall demand for mobility aid devices across the globe. Manufacturers now-a-days are bringing new and improved mobility aid devices such as wheelchairs mainly centralizing towards lightweight and sports-type. For Instance, in Oct 2018, Invacare launched a new feather-weight wheelchair. Moreover, increasing trend of self-driven mobility devices is booming the mobility aid devices market. Furthermore, initiatives such as United Nations Standard Rules in the Equalization of Opportunities of Persons with Disabilities and United Nations Convention on the Rights of Person with Disabilities (CRPD) are some of the pretext for flourishing of mobility aid devices market.
Rates of disability are higher among the old population aged between 60 years and older, is a major reason for the growth of mobility aid devices. For instance, according to World Report on Disability, degree of disability is fastest growing in people aged 80 to 89 years. The report also suggests that the disabled population is increasing at 3.9% per year and by 2050 about 20% of the population above 60 years is projected to be under disabled category. Moreover, foundations such as Walkabout and American Wheelchair Mission contributes free of cost mobility aids and wheelchairs to needy people is also increasing the demand for mobility aid products across the globe. For instance, in June 2017 Walkabout foundation organized a campaign. The Women4Walkabout was organized to donate wheelchairs to disabled person in London.
Wheelchair in the product segment holds the largest share in 2020 globally
Wheelchair is most commonly used mobility aid device and national symbol for handicapped access. According to World Health Organization (WHO) in 2018, around 1.0% of the total population globally, that is approximately 75 million people are dependent on wheelchair due to a disability or injuries. Moreover, readily availability of wheelchair and comfort associated with them is also a key consideration for the dominance of wheelchair market across the globe. For instance, Clinton Health Access under AT2030 Programme, suggest that 90% of the disabled people have the accessibility of wheelchairs in high-income countries such as U.S.A, Canada and China. Additionally, technology advancement in manufacturing of wheelchair is also increasing the demand internationally. For instance, in August 2017, Invacare launched a new wheelchair, TDX SP2. The Invacare TDX SP2 is a power wheelchair which includes a touch screen display, wireless programming, and SureStep suspension, lock feature for enhanced stability.
North America holds maximum market share in 2020
North America holds the largest share in mobility aid devices market and most likely to hold leading position in the forecast period. The dominance is supported by reasons such as increasing geriatric population in the North America region. For instance, in June 2018, United States Census Bureau suggested that the population of U.S with Disabilities is 40.7 million that accounts to 12.8% of the total population in the U.S. In addition, there are 3.6 million wheelchair users and 11.6 million cane user in the U.S. region. Increasing health awareness and high spending capacity of people in the region are key factors supporting the dominance of mobility aid devices in the North America region. Moreover, various initiatives by the device manufacturers and government is also increasing the demand for mobility aid products in North America. For occurrence, in September 2019, First Transit announced safe wheel program. Safe wheel program aims to improve passenger safety by replacing the damaged mobility aid devices free of cost in the North America region.
The major players identified in the mobility aid devices market include Invacare, Sunrise Medical, 21st Century Scientific, Inc., Ottobock, Permobil, Pride Mobility Products Corp., GF Health Products, Inc., Meyra Group, BiKube, WHILL, Inc. and Besco among others. The major players are focusing on strategies such as development of new products and acquisitions and many more. For instance, in August 2018, Sunrise Medical acquired Magic Mobility. Through this acquisition Sunrise Medical aims to expand its product portfolio.
Historical & Forecast Period
The research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.
Key questions answered in this report
What was the market size of mobility aid devices market in 2020 and forecast up to 2029?
What are the key factors driving the global walking assistance devices market?
What are the key market trends and high-growth opportunities observed in the walking aid devices market?
What are the drivers of the mobility aid devices market?
Which is the largest regional market for mobility aid devices market?
Which segment will grow at a faster pace? Why?
Which region will drive the market growth? Why?
Which players are leading mobility aid devices market?
What are the sustainability strategies adopted by the key players operating in the market?
Key Topics Covered:
2. Executive Summary
3. Market Dynamics
3.1.1. Global MAD Market Value, 2019-2029, (US$ Mn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2020
3.4. Market Positioning of Key Players, 2020
3.4.1. Major Strategies Adopted by Key Players
4. Global Mobility Aid Devices (MAD) Market, by Product, 2019-2029 (US$ Mn)
4.2. Walk Assistance
4.2.4. Leg Braces
4.3.2. Power Driven
4.4. Others (Mobility Lifts, Mobility Scooters etc.)
5. Global Mobility Aid Devices (MAD) Market, by Application, 2019-2029 (US$ Mn)
5.2. Hospitals and Nursing Homes
5.3. Home Care
5.4. Others (Emergency Care, Specialty Clinics etc.)
6. North America Mobility Aid Devices (MAD) Market Analysis, 2019-2029 (US$ Mn)
7. Europe Mobility Aid Devices (MAD) Market Analysis, 2019-2029 (US$ Mn)
8. Asia Pacific Mobility Aid Devices(MAD) Market Analysis, 2019-2029 (US$ Mn)
9. Rest of the World Mobility Aid Devices (MAD) Market Analysis, 2019-2029 (US$ Mn)
10. Company Profiles
10.2. Sunrise Medical
10.3. 21st Century Scientific, Inc.
10.6. Pride Mobility Products Corp.
10.7. GF Health Products, Inc.
10.8. Meyra Group
10.10. WHILL, Inc.
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