Global Personal Mobility Device Market - 2022-2029

Global Personal Mobility Device Market - 2022-2029

Market Overview

The global personal mobility device size was valued US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 6.9% during the forecast period (2022-2029).

Personal mobility devices provide independence & stability and serve the requirements of people with disabilities to perform normal activities. These devices help a person with impairment or disability to move from one place to another. Personal mobility devices include wheelchairs, scooters, canes, crutches, bicycles, and unicycles. Most of these devices are used by disabled people with restricted mobility. Personal mobility devices are designed for a single person and can be operated manually or powered by a battery. The geriatric population, disabled population, and people with spinal cord injuries are more likely to adopt personal mobility devices.

Market Dynamics

The increasing number of geriatric people, the increasing number of road accidents and workplace accidents and increasing government initiatives to increase the accessibility of these mobility devices are driving the personal mobility device market.

The increasing prevalence of disability cases is expected to drive market growth.

According to the data published by the WHO, in November 2021, nearly 1 billion individuals worldwide will have some mobility disability. This equates to around 15% of the world's population, with up to 190 million (3.8%) people aged 15 and older experiencing major functional impairments, frequently necessitating health care services and mobility devices. Therefore, there is an increase in demand for personal mobility devices. Additionally, government initiatives to increase the accessibility of these mobility devices drive the personal mobility device market. For example, the Government of India(GoI) launched the Accessible India Campaign to create an accessible environment for persons with disability, providing public transportation, information, and communication. Thus, from the above factors, the market is expected to drive in the forecast period.

The high cost of powered wheelchairs is expected to hamper the market growth.

Power wheelchairs are extremely adaptable. Both the M3 and M5 are mid-wheel powerchairs. The M5 features a longer range, a faster top speed, and superior suspension than the M3. As a result, the regular M5 model will be more expensive. Costs range from roughly £5,000 to £30,000 or more. Moreover, the limited availability of service centers and lack of awareness regarding modern personal mobility devices in developing economies are major restraining factors hampering market growth.

COVID-19 Impact Analysis

The COVID-19 epidemic had a considerable impact on the personal mobility device industry. Many people with chronic illnesses or physical disabilities cannot follow the norms and procedures to minimize the spread of COVID-19. Complete isolation may not be possible for a disabled person because the patient requires assistance from home aides or caretakers. If the outbreak worsens in the area, those services may be disrupted when the attendants become ill. Some people may lack access to inexpensive transportation and thus rely on mobility devices to continue receiving medications or making purchases. Thus, the COVID-19 pandemic has affected the market. However, the situation is expected to improve gradually in the forecast period.

Segment Analysis

Wheel Chairs segment is estimated to hold the largest market share in personal mobility device

The wheelchairs segment is accounted for the largest market share in 2021. The segment benefits because wheelchairs are one of the most frequent personal mobility assistance equipment. Using proper wheelchairs increases the quality of life by reducing common problems such as deformities and pressure sores and improving digestion and respiration. Moreover, the increasing geriatric population, growing adoption of powered wheelchairs and technological advancement in wheelchairs are the factors driving market growth in the forecast period. For instance, in August 2021, the Indian Institute of Technology, a public technological institute owned by the national government, created India's first indigenous motorized wheelchair vehicle that can be utilized not just on roadways but also on difficult terrain. The Indian Institute of Technology developed the NeoBolt wheelchair, which has a top speed of 25 kmph and a range of up to 25 kilometers per charge. It provides wheelchair users with a practical, safe, low-cost outdoor mobility option. IIT-M researchers worked closely with organizations and institutions that serve people with locomotor disabilities throughout the development process. They designed the products with their experiences and ongoing design revisions in mind. Thus, from the above factors, the market segment accounted for the largest market share in the forecast period.

Geographical Analysis

North America region holds the largest market share in the global personal mobility device

North America region is accounted for the largest market share in 2021. The rising geriatric population with mobility disorders, product launches, acquisition and collaborations by the market players, and rising funding in the region are the factors to drive the market in the forecast period. For instance, according to the US Department of Transportation's Bureau of Transportation Statistics 2020, an estimated 25.5 million Americans have disabilities that make commuting outside the home difficult. As the older population becomes more susceptible to mobility illnesses, demand for personal mobility devices will likely rise throughout the forecast period. Under the Assistive Devices Program, the Department of Health and Long-Term Care in Ontario, Canada, provide assistance and financing to residents with long-term disabilities (ADP). The program will pay for equipment such as wheelchairs, rollators, walkers, scooters, and adapted seating.

Moreover, on February 11, 2021, Invacare Corporation launched the Invacare AVIVA STORM RX power wheelchair, a new standard for rear-wheel drive power mobility. Thus, from the above factors, the North America region accounted for the largest market share in the forecast period.

Competitive Landscape

Major key players in the personal mobility device market are Medline Industries, Inc., Carex Health Brand Incorporation, Drive Medical Design & Manufacturing, Invacare Corporation, Sunrise Medical, Pride mobility, Kaye Products, Inc., Electric Mobility, Briggs Healthcare, Patterson Medical, Nova Medical Products, Eurovema AB and Graham-Field Health Products Incorporation

In June 2020, Gates launched its new and advanced personal mobility devices amidst rising bicycle demand worldwide.

Medline Industries, Inc.:

Overview:

Medline is a manufacturer, distributor, and solutions provider focused on improving the overall operating performance of healthcare. Partnering with healthcare systems and facilities across the continuum of care, Medline provides the clinical and supply chain resources required for long-term financial viability in delivering high-quality care. As one of the country’s largest companies, Medline invests in its customers for the future and rapidly responds to a dynamically changing market with customized solutions. Medline has 30,000+ employees worldwide and operates in more than 125 countries and territories.

Product Portfolio:

K3 Guardian Wheelchair with Nylon Upholstery: Durable hammertone frame, easy-to-clean nylon upholstery, retractable swing-back arms for convenient transfers and storage, and Hemi-height adjustable.

The global personal mobility device report would provide an access to an approx. 45+market data table, 40+figures and 180pages.