The global mobility aid devices market is valued at 3,968.6 Mn and likely to witness growth, with a CAGR of 5.0% during the forecast period from 2023 to 2030. Rise in the number of elderly population, sports injury, trauma cases or post-surgery, and new technology assessment in the mobility aid segment for improved outcomes are key factors driving the overall demand for mobility aid devices across the globe. Manufacturers now-a-days are bringing new and improved mobility aid devices such as wheelchairs mainly centralizing towards lightweight and sports-type. For Instance, in Oct 2018, Invacare launched a new feather-weight wheelchair. Moreover, increasing trend of self-driven mobility devices is booming the mobility aid devices market. Furthermore, initiatives such as United Nations Standard Rules in the Equalization of Opportunities of Persons with Disabilities and United Nations Convention on the Rights of Person with Disabilities (CRPD) are some of the pretext for flourishing of mobility aid devices market.

Rates of disability are higher among the old population aged between 60 years and older, is a major reason for the growth of mobility aid devices. For instance, according to World Report on Disability, degree of disability is fastest growing in people aged 80 to 89 years. The report also suggests that the disabled population is increasing at 3.9% per year and by 2050 about 20% of the population above 60 years is projected to be under disabled category. Moreover, foundations such as Walkabout and American Wheelchair Mission contributes free of cost mobility aids and wheelchairs to needy people is also increasing the demand for mobility aid products across the globe. For instance, in June 2017 Walkabout foundation organized a campaign. The Women4Walkabout was organized to donate wheelchairs to disabled person in London.

Wheelchair in the product segment holds the largest share in 2021 globally

Wheelchair is most commonly used mobility aid device and national symbol for handicapped access. According to World Health Organization (WHO) in 2018, around 1.0% of the total population globally, that is approximately 75 million people are dependent on wheelchair due to a disability or injuries. Moreover, readily availability of wheelchair and comfort associated with them is also a key consideration for the dominance of wheelchair market across the globe. For instance, Clinton Health Access under AT2030 Programme, suggest that 90% of the disabled people have the accessibility of wheelchairs in high-income countries such as U.S.A, Canada and China. Additionally, technology advancement in manufacturing of wheelchair is also increasing the demand internationally. For instance, in August 2017, Invacare launched a new wheelchair, TDX SP2. The Invacare TDX SP2 is a power wheelchair which includes a touch screen display, wireless programming, and SureStep suspension, lock feature for enhanced stability.

North America holds the maximum market share in 2021

North America holds the largest share in mobility aid devices market and most likely to hold leading position in the forecast period. The dominance is supported by reasons such as increasing geriatric population in the North America region. For instance, in June 2018, United States Census Bureau suggested that the population of U.S with Disabilities is 40.7 million that accounts to 12.8% of the total population in the U.S. In addition, there are 3.6 million wheelchair users and 11.6 million cane user in the U.S. region. Increasing health awareness and high spending capacity of people in the region are key factors supporting the dominance of mobility aid devices in the North America region. Moreover, various initiatives by the device manufacturers and government is also increasing the demand for mobility aid products in North America. For occurrence, in September 2019, First Transit announced safe wheel program. Safe wheel program aims to improve passenger safety by replacing the damaged mobility aid devices free of cost in the North America region.

Competitive Insights

The major players identified in the mobility aid devices market include Invacare, Sunrise Medical, 21st Century Scientific, Inc., Ottobock, Permobil, Pride Mobility Products Corp., GF Health Products, Inc., Meyra Group, BiKube, WHILL, Inc. and Besco among others. The major players are focusing on strategies such as development of new products and acquisitions and many more. For instance, in August 2018, Sunrise Medical acquired Magic Mobility. Through this acquisition Sunrise Medical aims to expand its product portfolio.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Mobility Aid Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Mobility Aid Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Mobility Aid Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Mobility Aid Devices market?
• Which is the largest regional market for Mobility Aid Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Mobility Aid Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Mobility Aid Devices market worldwide?