Personal Mobility Devices Market to Grow Owing to Rise in Demand for Innovative Devices

Published Date : Apr 13, 2016

Personal mobility devices are devices for physically handicapped or disabled persons and also for the elderly and frail people, such that they can have a good quality life, as they provide assistance in moving. Wheelchairs, crutches, canes, mobility scooters, walkers, and rollators are some of the personal mobility devices that are available. The promotion of personal mobility devices for the elderly and disabled becomes necessary to reduce the public health expenditure of the healthcare systems.

Growing Geriatric Population to Boost Personal Mobility Devices Market

The personal mobility devices market is boosted by the growing geriatric population in the emerging nations, which is expected to exceed by 250%. This growth is far higher than the estimated 71% increase in the developed nations, as suggested by WHO on the global ageing and adult health. Therefore, there will be a significant growth in the market.

The trend of insurance companies assisting in covering mobility devices, by reimbursing and making the personal mobility devices much more affordable for the consumers will also drive the global personal mobility devices market. The entrance of various government, private, and international insurance organizations, will thus boost the market for personal mobility devices globally.

Asia Pacific to be the Fastest Growing Region in the Personal Mobility Devices Market

Although North America dominated the personal mobility devices market in 2014, Asia Pacific region, is expected to witness the fastest growth as compared to all other regions, between the period 2015 and 2023 due to improvement in the economic condition. The disabled-friendly infrastructure in countries such as Singapore, Japan, and South Korea will support the growth of the personal mobility device market in the region. Furthermore, the lower manufacturing costs of the devices and the growing demand for new and innovative mobility devices are expected to boost the market in the Asia Pacific region.