Mobility Aids Equipment Market to Experience Rapid Growth

The global market for mobility aids and transportation equipment market is estimated to reach USD 7.8 billion by 2021. These are the latest findings of IndustryARC (Hyderabad, India), an international research and consulting firm.

Mobility equipment for the incapacitated, disabled and seniors is comprised of a large number of assistive, rehabilitative, and adaptive devices. They are also used in hospitals and clinics for shifting patents from one room to another. The increasing number of people suffering from orthopedic hip and knee disorders, disabilities resulting from stroke and osteoarthritis, an increasingly ageing population, and advancements in the healthcare sector has led to a rising demand for such mobility equipment.

The increasing demand for these assistive tools, which include wheelchairs, power chairs, walking aids, mobility scooters, and stair lifts, among many others, is driving the market, which will experience at 5.6% compound annual growth rate (CAGR) between 2016 and 2021. While manual wheelchairs will be the highest revenue-generating segment in the market, the fastest growing segment will be motorized wheelchairs. The combined revenue for these two segments alone accounted for approximately 68% of the total market revenue in 2015.

The Americas region was the market leader in 2015, with nearly 55% of the total market share, and will continue to lead the market through 2021, but the Asian-pacific region will have the highest growth rate during the forecast period. The major players in the sector include Sunrise Medicals (Heidelberg, Germany), Invacare (Elyria, OH, USA), Stryker (Kalamazoo, MI, USA), Medline Industries (Mundelein, IL, USA), and Drive Medicals.

The major manufacturers in the 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.

Related Links:
IndustryARC
Sunrise Medicals
Invacare
Stryker
Medline Industries