Personal Mobility Devices Market Size & Share, Market Research and Industry Forecast Report, 2027 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Personal Mobility Devices Market


The global personal mobility devices market size was valued at USD 10.8 billion in 2019 and is anticipated to register a CAGR of 6.5% over the forecast period. Increase in disability cases, increasing product development, and growth in number of accidents causing impairment of the limbs are some of the factors driving the market. Growing global aging population and surge in chronic diseases are also driving the demand for personal mobility devices.
According to a 2018 report by WHO, the global aging population is anticipated to rise from 7.0% in 2000 to 16.0% in 2050. According to the CDC, 54.4 million U.S. adults were affected by arthritis from 2013 - 2015. It is estimated that by 2040, 36.4 million adult arthritis patients are expected to report activity limitations. This is expected to positively impact demand for personal mobility devices over the forecast period.

Moreover, favorable reimbursement policies for the purchase and rental of personal mobility devices are expected to drive the market. Some mobility devices such as walkers, wheelchairs, canes, and crutches are also covered under Medicare insurance Part B. A patient is required to pay 20% of the product price out of pocket and the remaining 80% is paid by Medicare. Additionally, repair and replacement of reimbursed mobility devices are covered under this insurance scheme.

The Indian government has initiated the Scheme of Assistance to Disabled Persons for Purchase/Fitting of Aids/Appliances (ADIP Scheme) to help people with disabilities procure sophisticated, durable, modern, and scientifically manufactured personal mobility devices to promote social, psychological, and physical rehabilitation of people with disabilities. This provision is thereby expected to help reduce the incapability of patients due to disability and also assist in enhancing the economic potential of purchasing these mobility devices.

Personal mobility devices are given to public work departments with an aim to promote independent living and reduce the extent of disability. Technological advancements in mobility devices is among the most important drivers for this market. The introduction of transfer lifts, mobility scooters, and automated rollators is expected to significantly improve usage rates of mobility devices. Segways Personal Transporter, laser-enabled rollators by TOPRO for Alzheimers patients, and M300 Corpus HD Power wheelchair are some examples of technological advancements in the field of personal mobility devices.

Product Insights of Personal Mobility Devices Market

Wheelchair is one of the most common assistive devices and held the dominant share in the global personal mobility devices market. United Nations provides appropriate legislations for requesting member states in supporting development, production, distribution, and servicing of these mobility devices. Provision of appropriate wheelchairs enhances mobility and quality of life and reduces common problems such as progression of deformities and pressure sores as well as improves digestion and respiration.

According to data published by KD Smart Chair, the estimated number of wheelchair users in U.S. was 3.3 million in 2018 and there are approximately 2 million new users in the country each year, which translates to an ever increasing demand for personal mobility devices such as wheelchairs. Powered wheelchairs emerged as the largest sub-segment in terms of revenue in 2019, driven by rapidly technological development and improving spending power of patients.

The walking aids segment is anticipated to register a CAGR of 6.8% over the forecast period. According to estimates published by WHO in 2011, approximately 18.0% of the population experiences moderate, extreme, or severe difficulty when walking. As the population, especially geriatric population, increases, demand for personal mobility devices such as walking aids will also grow over the forecast period.

Advanced features in premium rollators, such as laser attachment to assist Alzheimers patients, lockable wheels, oxygen tank holders, hemiplegic handles, light frames, large wheel diameter, pressure brakes, and extended weight bearing capacity are some features that are expected to spur the demand and consecutively the penetration of premium rollators globally. Rollators priced above USD 200 are considered as premium rollators in our study. Increasing disposable income and acceptance of technologically advanced rollators, especially in European and North American countries, is expected to drive the segment.

Regional Insights of Personal Mobility Devices Market

Europe dominated the overall market for personal mobility devices in 2019 with a revenue share of 33.0%. Growing prevalence of age-associated diseases, increasing geriatric population, presence of improved healthcare infrastructure, high healthcare expenditure, rising disposable incomes, and favorable reimbursement policies for purchase or rental services are among key factors that contribute to the regional demand for personal mobility devices. Favorable government initiatives are also expected to boost market growth over the forecast period.

Asia Pacific is expected to emerge as the fastest growing regional segment with a CAGR of 7.8% over the forecast period. This is attributed to increasing geriatric population base in East Asian countries such as Japan and China. Additionally, extensive R&D activities undertaken by organizations such as the China Rehabilitation Research Center (CRRC) is expected to drive regional demand for personal mobility devices. Additionally, increasing disposable incomes, rising awareness, increasing healthcare expenditure, and favorable government initiatives aimed at improving healthcare access are among other factors expected to boost the market for personal mobility devices in Asia Pacific.

North America is also a major market, fueled by high healthcare spending by patients and growing efforts by governments. The U.S. government doubled the funding for Rehabilitation Engineering Research Center programs to accelerate research in the field of personal mobility. As per data published by Human Resources and Skills Development Canada, approximately 14.3% of the population suffers from disabilities pertaining to vision, hearing, and motion. The Canadian government formed a Disability Tax Credit Certificate allowing a disabled person to pay little or no tax. The Ontario Ministry of Health and Long-Term Care (OMHLT) has provided support and funding to its residents with disabilities in accordance with the Assistive Devices Program (ADP).

Market Share Insights of Personal Mobility Devices Market

Some of the players operating in the market for personal mobility devices are Drive DeVilbiss Healthcare; GF HEALTH PRODUCTS, INC.; Invacare Corporation; Carex Health Brands, Inc.; Kaye Products, Inc.; Briggs Healthcare; Medline Industries, Inc.; NOVA Medical Products; Performance Health; and Rollz International.
These players are focusing on adopting various growth strategies, such as partnerships and expansion of product portfolio to retain their market position. For instance, in September 2019, Rollz introduced Parkinsons rollators at an international trade fair-Rehacare. This personal mobility device was developed for individuals suffering from freezing symptoms associated with Parkinsons disease. This rollator is among the most innovative creations of the company.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Personal Mobility Devices Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global personal mobility devices market report on the basis of product and region:

Product Type Outlook (Revenue, USD Million, 2019 - 2030)

  
Wheelchairs
  
Manual
  
Power
  
Scooters
  
Walking Aids
  
Rollators
  
Low Cost
  
Premium
  
Other Walking aids (canes, crutches, walkers)