Medical Mobility Aids Market: Current Analysis and Forecast (2021-2027)

Medical Mobility Aids Market: Current Analysis and Forecast (2021-2027)

Global Medical Mobility Aids Market is anticipated to grow with an elevated CAGR of around 6% over the forecast period (2021-2027). Medical mobility aids are the devices that provide an easy & safe way to move and transfer patients from one location to other, enabling them to be more independent and mobile. These devices can be complex electronically powered machines or basic machines and have wide applications in the healthcare industry.

With the rapid advancement in technology and rising awareness among the target population to become mobile, many industry players are focusing on expanding their product portfolio by launching new products in the market due to which the medical mobility aids market is witnessing an uptick all over the globe. For instance, in May 2021, Quantum Rehab, a global innovator of consumer-inspired complex rehab mobility technologies, launched J4 HD Power Chair offering a 400-pound weight capacity and optional Q4 HD Power Tilt. The J4 HD is engineered for tight-quarter maneuverability and has a narrow base width of 24.25 inches.

Furthermore, the demand for medical mobility aids is increasing on account of the growing number of people having disabilities. Almost 15% of the world’s population, experiences some form of disability, and disability prevalence is higher in developing countries. One-fifth of the estimated global total, or between 110 million and 190 million people, experience significant disabilities. This global estimate for disability is on the rise due to population aging and the rapid spread of chronic diseases, as well as improvements in the methodologies used to measure disability. For instance, 61 million adults in the United States live with a disability out of which 13.7 percent of people with a disability have a mobility disability with serious difficulty walking or climbing stairs. Invacare Corporation, Stryker Corporation, GF Health Products, Inc., Sunrise Medical LLC, Briggs Healthcare, Benmor Medical Limited, Medline Industries Inc., Ostrich Mobility Instruments Pvt. Ltd., Ottobock, NOVA Medical Products, are some of the prominent players operating in the medical mobility aids market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new varieties of medical mobility aids devices.

Insights Presented in the Report
"Amongst Product Type, wheelchairs segment holds the major share”

Based on product type, the medical mobility aids market is segmented into wheelchairs, walkers, crutches, stretchers, accessories, and others. The wheelchair segment accounted for a significant market share in 2020 and it is estimated that it will exhibit the highest CAGR during the forecast period. The growth of this segment can be attributed to the popularity of these mobility aid devices among the elderly population. According to the data published by KD Smart Chair, the estimated number of wheelchair users in the U.S. was 3.3 million in 2020, which is 1% of the total population. There are approximately 2 million new users every year, which translates to increased demand for wheelchairs in the country. However, the walkers segment is also anticipated to grow with the lucrative CAGR in the upcoming years.
"Amongst End-Users, hospitals & clinics segment holds the major share”

Based on end-users, the medical mobility aids market is divided into hospitals & clinics, ambulatory surgical centers, home care settings, and others. The hospitals & clinics segment is anticipated to grow at a rapid rate in the upcoming years owing to the increasing preference of consumers to get treatment in hospitals mainly due to the well-established healthcare infrastructure, and presence of highly skilled healthcare professionals. Furthermore, the presence of several advanced types of equipment in hospitals, such as remote-controlled wheelchairs and innovative gadgets at their disposal, that can increase the quality of patient care is also one of the reasons why patients prefer hospitals for their treatment.
"North America represents one of the largest markets of medical mobility aids market”

For a better understanding of the market dynamics of the medical mobility aids market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America grabbed a significant market share of the global medical mobility aids market in 2020, and it is expected to grow with considerable CAGR during the forecast period (2021-2027F). The major factors such as favorable government initiatives, increased investments in research and development for technologically advanced mobility aid devices and the rapid increase in the geriatric population are propelling the growth of this market in the region. For instance, the number of Americans aged 60 and older increased by 34% from 55.7 million to 74.6 million between 2009 and 2019.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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