Mobility Aids & Transportation Equipment Market is Anticipated to reach 7.8 Billion USD by 2021
Increasing ageing population and new betterment in the Healthcare Industry is driving the Mobility Aids and Transportation Equipment Market to $7.8 Billion by 2021.
Report Market Analysis: By Type (Wheelchairs, Walking Aids, Mobility Scooters, Stair Lifts); By Age Group (Children, Elderly); By User (Hospital, Clinics, Patients)- Forecast (2016-2021)”, published by IndustryARC, estimates the market to reach $7.8 Billion by 2021.
Mobility Aids and Transportation Equipment are used by individuals with any kind of physical disability to assist them in mobility. They are also used in hospitals and clinics for shifting patents from one room to another. Intensive R&D in the field of medical devices and equipment has led to the invention of products that have enhanced the quality of life of the disabled people. These aids and equipment comprise of wheelchairs, walking aids, mobility scooters and stairlifts among many others.
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According a recent study of IndustryARC the global market value for Mobility Aids and Transportation Equipment Market is estimated to reach $7.8 Billion by 2021. The manual wheelchairs segment will be the highest revenue generating segment in this market. The fastest growing segment will be motorized wheelchairs. The combined revenue for these two segments accounted for approximately 68% of the total revenue in 2015. Walking aids such as canes, crutches and walkers among many others also contributed a significant share to the total revenue.
Mobility Equipment for elderly disabled people and seniors comprises of a large number of assistive, rehabilitative and adaptive devices as well as disability products. The increasing number of bone and knee disorders as well as the disabilities and diseases such as Stroke and osteoarthritis lead to the rising demand of the mobility equipment across the elderly people and the seniors. These assistive tools such as wheelchairs and power chairs help in performing activities and tasks with greater ease and freedom in case of a difficulty or an injury.
Americas region was the market leader in 2015 with nearly 55% of the total market and is estimated to grow at a CAGR of 3.2% through 2016 to 2021. However APAC region will have the highest growth rate in the forecast period. Americas will continue to be the market leader in 2021 also.
The Major Players in this Market Include:
- Sunrise Medicals GMBH & Co. (Germany)
- Invacare Corporation (U.S.)
- Stryker Corporation (U.S.)
- Medline Industries Inc. (U.S.)
- Drive Medicals (U.S.)
The major manufacturers in this market have utilized product launches, product developments and acquisitions to expand entry into interconnected markets and enhance core competencies through additions to product portfolio as well as improving the existing product line. The acquisitions help them to reduce competition and enter into new markets.
The report mobility aids and transportation equipment provides detailed analysis of different types of mobility aids and their end users. The various mobility aids and transportation equipment products incorporated in the study include-
- Manual Wheelchairs
- Electrically Powered Wheelchairs/Motorized Wheelchairs
- Walking Aids
- Mobility Scooters
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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