Global Personal Mobility Devices Market Report Examines Latest Trends and Key Drivers Supporting Growth through 2024

Albany, USA, 2018-Apr-20 — /EPR Network/ —In order to study the various trends and patterns prevailing in the overall market for Personal Mobility Devices, Market Research Reports Search Engine (MRRSE) has included a new report titled “Personal Mobility Devices Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.

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The vendor landscape for the global personal mobility devices market features a moderate level of competition, with the top three companies, namely Invacare Corporation, Sunrise Medical LLC, and Hill-Rom Holdings, Inc., collectively accounting for nearly 36% of the overall market in 2015. With pressure rising from global consumers for economical products, the price rivalry among leading players has substantially increased in the recent times, observes MRRSE in a recent report. Price wars are likely to become intense among companies as focus on cost-sensitive emerging markets has increased in the recent times.

According to the report, the market is likely to expand at a promising 7.30% CAGR over the period between 2015 and 2023, rising from a revenue valuation of US$6.65 bn in 2014 to US$12.7 bn by 2023.

North America to Continue to Account for a Large Piece of Revenue Pie

Of the key device types in the market, the segment of medical mobility aids and ambulatory devices dominated the global market in 2015. The segment is also expected to retain its top spot over the report’s forecast period, surging at a promising 8.5% CAGR over the period between 2015 and 2023. Geographically, the market has conventionally acquired a substantial share in its revenue from developed regions such as North America and Europe. The market in North America accounted for over 41% of the global market in 2014 and is likely to retain its leadership, thanks to innumerous policies and adequate facilities across organizations and public spaces for people with disabilities.

Rise in Employment Rate of People with Disabilities to Bode Well for Market Growth

Owing to the fact that aging often leads to conditions associated with bone density and mobility, consequently leading to the need for assistive and personal mobility devices, the mounting global geriatric population has been ascribed as one of the leading drivers for the global personal mobility devices. As long-term caregiving from families continues to become a rarity, the environment has become highly encouraging to the positive expansion of the global personal mobility devices.

The rise in the number of policies that delay the official age of retirement is also expected to have a positive implication on the market. With such policies being implemented on a global level, organizations will be required to put in place proper facilities for elderly. This will, in turn, lead to an increase in the demand for personal mobility devices in the near future. Moreover, the vast rise in the employment rate of people with disabilities across the globe is also likely to augur well for the market.

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Geographically, the global personal mobility devices market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Each regional market has been further segmented into major countries contributing to the personal mobility devices market. The study further offers recommendations for the personal mobility devices market, which would be useful for existing and new players to sustain and grow in the market.

The personal mobility devices market report concludes with the company profiles section that includes key information in terms of company overview, financial information, product portfolio, business strategies, and recent development about the major players operating in the personal mobility devices market. Key players in the global personal mobility devices market include Amigo Mobility International, Inc., Argo Medical, ArjoHuntleigh, Drive Medical, GF Health Products, Inc., Hill-Rom Holdings, Inc., Invacare Corporation, Ottobock Healthcare, Patterson Companies, Inc., Stryker Corporation, Permobil AB, Pride Mobility Products Corporation, and Sunrise Medical LLC.

The global personal mobility devices market has been segmented as follows:

Global Personal Mobility Devices Market, by Devices

  • Medical Mobility Aids and Ambulatory Devices
    • Wheelchairs
      • Manual Wheelchairs
      • Electric Wheelchairs
    • Mobility Scooters
      • Boot Scooter
      • Midsize Scooter
      • Road Scooter
    • Canes
      • Folding Canes
      • Quad Canes
      • Offset Canes
    • Crutches
      • Axillary Crutches
      • Elbow Crutches
      • Forearm Crutches
    • Walkers
      • Standard Walkers
      • Knee Walkers
      • Rollators
  • By Medical Furniture and Bathroom Safety Products
    • Patient Lifts
      • Manual Lifts
      • Power Lifts
      • Stand Up Lifts
      • Heavy Duty Lifts
      • Overhead Track Lifts
    • Stair Lifts
      • Indoor Stair Lifts
      • Outdoor Stair Lifts
    • Medical Beds
      • Electric Beds
      • Manual Beds
        • Stretchers
        • Low Beds
        • Water Beds
      • Bars and Railings
      • Commodes and Showers

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