Industry Background:
Mobility assistive devices provide improved quality of life to geriatric and disabled People. These devices could be used by people who are dependent on others. Due to the independent lifestyle, all disabled and geriatric people have a requirement of these devices.
According to AMA Research, the market for Mobility Assistive Devices is expected to register a CAGR of 5.1% during the forecast period to 2030. This growth is primarily driven by A rise in Geriatric Population Worldwide
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electronic Equipment & Instruments sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Medical Depot, Inc.(Drive Medical) (United States), Pacific Rehab Inc. (United States), Columbia Medical (United States), Real Design Inc. (United States), Rifton Equipment (United States), Otto Bock Inc. (Germany), Hocoma AG (Switzerland) and Ekso Bionics (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2021, Falcon Mobility unveiled the Ultra-Lite 2 electric wheelchair, which is designed to be lightweight and easy to maneuver. The company hopes to provide a new affordable and lightweight wheelchair option to the elderly and disabled communities with this launch, making it easier for caregivers to transport their wards' personal mobility aids to and from a vehicle.
In July 2021, the International Air Transport Association (IATA) formed a Global Mobility Aids Action Group to investigate and improve the transportation of mobility aids such as wheelchairs.The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market.
Influencing Trend:
The emergence of Assistive Devices and Rise in interdisciplinary players moving in the Healthcare Sector
Market Growth Drivers:
A rise in Geriatric Population Worldwide and Increasing Disposable Income among Population Worldwide
Challenges:
Lack of Awareness in Underdeveloped Nations
Restraints:
Higher Investment to Build the Devices and Less Acceptance in both Developing and Underdeveloped Nations
Opportunities:
Emerging Untapped Economies in the Assistive Device Market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Mobility Assistive Devices Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Mobility Assistive Devices Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Mobility Assistive Devices players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Mobility Assistive Devices Study Sheds Light on
The Mobility Assistive Devices Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Mobility Assistive Devices industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Mobility Assistive Devices industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.