Personal Mobility Devices Market to Register 6.7% CAGR by 2031, Amidst Favorable Reimbursement Policies

October 21 12:54 2024
Personal Mobility Devices Market to Register 6.7% CAGR by 2031, Amidst Favorable Reimbursement Policies
Personal Mobility Devices Market
The Personal Mobility Devices Market is set to surge from USD 16.22 billion in 2023 to USD 27.25 billion by 2031, driven by a robust CAGR of 6.7% during the forecast period. This growth reflects increasing demand for wheelchairs and scooters across hospitals and homecare settings. As awareness and accessibility improve, the market is poised for significant expansion, promising enhanced mobility solutions for individuals worldwide.

Personal Mobility Devices Market size was valued at USD 16.22 Billion in 2023 to USD 27.25 Billion by 2031, growing at a CAGR of 6.7% in the forecast period (2024-2031). Due to the gadgets’ hampered transit, the market saw a downturn in 2020 during the COVID-19 pandemic. Key factors driving the global personal mobility device market include an increasing incidence of accidents resulting in disabilities, a growing population, and increased product development. Leading causes driving market expansion include the world’s chronic disease cases and growing geriatric population. Additionally, in an effort to lower freight costs and transit times, market participants are implementing a number of strategic initiatives, such as shifting their distribution footprints. 

Pioneering Technologies in Various Industries are Shaping the Future of Personal Mobility Devices 

The global Personal mobility devices market is experiencing a diverse recognition, characterized by a competitive landscape segmented into various business verticals. This segment includes advanced wheelchairs and mobility scooters developed by leading healthcare players to enhance independence of patients in the industry. The automotive vertical also sees significant developments in adaptive vehicle engineering for drivers with physical disabilities. The IoT-integrated smart mobility aids are emphasised by the Consumer Electronics section for improved use. Public services and the government also make infrastructure investments to support mobile devices. Some of the leading companies driving growth through tech advancements and partnerships are for example Permobil, Sunrise Medical as well as Invacare. 

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From Wheels to High-Tech Wonders, Analysis of International Market Leaders 

There is fierce rivalry in the global personal mobility devices market in several industries. Permobil and Sunrise Medical are global leaders in healthcare offering advanced wheelchairs and scooters aimed at improving patient autonomy. Besides, Invacare has also contributed to this movement by providing a wide range of mobility solutions. 

To help drivers with mobility impairments, automakers such as Ford and Toyota are developing innovative adaptive car solutions. Samsung, Apple and others are integrating IoT into smart mobility devices within the Consumer Electronics industry. These leaders drive advancement on a global scale through strategic partnerships and technology development. 

Comprehensive Exploration of the Companies Revolutionizing the Market with Cutting-Edge Innovations 

Through the development of sophisticated powered wheelchairs that increase patient comfort and independence, Permobil is a shining example of innovation in healthcare. Sunrise Medical combines the latest in mobility scooters with an emphasis on user friendly designs. For example, these two automakers’ adaptive vehicle technologies are exemplified by Toyota’s wheelchair-accessible mobility solutions and Ford’s adaptive driving controls. Utilizing IoT for better interaction and more capable devices in terms of mobility, Apple and Samsung have established themselves as leaders in consumer electronics sectors. To ensure that all segments of the market are catered for, Invacare has a full range of mobility aids consisting of both powered as well as unpowered types. 

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Personal Mobility Devices Market Segmental Analysis

The Global Personal Mobility Devices Market is segmented based on Product, End User, and Region.

Based on Product, the market is segmented into Walking Aids, Wheelchairs and Scooters.

Based on the End User, the market is segmented into Hospitals, Homecare and Others.

Based on Region, the market is segmented into North America, Europe, Asia-Pacific, Central & South America and Middle East & Africa.

Top Player’s Company Profiles

Invacare Corporation

Sunrise Medical

Ottobock

Permobil

Drive DeVilbiss Healthcare

Pride Mobility Products Corp.

Medline Industries

Arjo

Karma Medical Products

Hippocampe

Levo AG

MedeAnalytics

Panthera

Roma Medical

Graham-Field Health Products

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Innovation and Strategic Alliances Are Transforming the Global Personal Mobility Devices Market Post-Pandemic 

Notwithstanding the COVID-19 pandemic’s 2020 effects, the global market for personal mobility aids is steadily recovering due to rising disability rates, an ageing population, and improvements in product development. Innovative technologies and strategic alliances drive growth in major companies like Permobil, Sunrise Medical, and Invacare. In the automotive sector, giant tech companies such as Apple and Samsung are embedding IoT functionalities into intelligent assistive devices whereas Toyota and Ford focus on enhancing the driving experience for people with disabilities. The changing and competitive atmosphere of the market leads to strategic distribution processes as well as infrastructural improvements.

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