Personal Mobility Devices Market to Grow as Geriatric Population Continues to Rise

Personal mobility devices assist patients, diseased and disabled, to regain their independence and live a life as close to normalcy as is possible. The global personal mobility devices market has been growing at a significant pace, as disabled people are trying to lead an independent life. The changing perspective on independent lifestyles and the change in the mindset about wheelchairs is leading to growth of the mobility devices market across the globe. According to a research report published by Transparency Market Research, the global personal mobility devices market was valued at US$6.7 bn in 2014 and is expected to reach US$12.7 bn in 2023, growing at a CAGR of 7.3% from 2015 to 2023.

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Government and Insurance Schemes to Promote Use of Personal Mobility Devices
 
The positive growth rate of the global personal mobility devices market is a result of the several government schemes, increasing number of healthcare insurance players, and efforts by other international organizations that are promoting the usage of personal mobility devices for a better standard of life. Over the years, insurance market players have reduced the cost of these devices by covering them under schemes, thereby making them affordable for many.
 
The global personal mobility devices market has been segmented on the basis of devices, products, and geography. The types of devices used in this market are broadly divided into medical mobility aids and ambulatory devices and medical furniture and bathroom safety products. 
 
The former further includes variations such as wheelchairs, scooters, walkers, stair lifts, canes and crutches, and others. The types of wheelchairs being used in the global personal mobility market are manual wheelchairs and electric wheelchairs. The electric wheelchairs are further divided into obese or bariatric, rehab, and standard. The products in the medical furniture and bathroom safety products segment global personal mobility devices market are commodes and shower chairs, bars and railings, medical beds, and patient lifts. On the basis of geography, this market reaches regions such as the Middle East, Latin America, Asia Pacific, Europe, and North America.
 
Wheelchairs to Lead Global Personal Mobility Devices Market
 
Out of these, wheelchairs are the biggest sub-segment, accounting for about 52.7% of the medical mobility aids and ambulatory devices in 2014. The factors influencing this positive growth rate are the increasing incidence of disabilities, the growing geriatric population, rising number of chronic diseases and disorders, and growing demand for technologically advanced and well-powered wheelchairs across the globe.
 
Growing Number of Disabled People to Fuel Global Personal Mobility Devices Market
A recent study suggests that there are over 160,000 people in the U.S. alone who are using scooters and electric wheelchairs. As the number of physically disabled people is likely to rise, the demand for these mobility devices is also set to increase to exponential levels. Products such as Trident HD and Medalist from Pride Mobility Products Corp and Drive Medical and Jazzy Power Chair are expected to fuel this market. The medical beds sub-segment will also hold a lion’s share in the global medical furniture and bathroom safety products segment, holding a majority market share of 53.0% in 2014.
 
Some of the key players in the global personal mobility devices market are Otto Bock Healthcare GmbH, Graham-Field Health Products Incorporated, Amigo Mobility International, Inc., Invacare Corporation, ArjoHuntleigh, Drive Medical, Hill-Rom Holdings, Inc., Argo Medical, Permobil AB, Pride Mobility Products Corporation, Patterson Medical Holdings, Inc., Stryker Corporation, and Sunrise Medical LLC. The continuous effort put in by these players to design products catering to the needs of the disabled and the old will decide the fate of this market in the next few years. 

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