USA Mobility Market will Increase at a Healthy CAGR Of 6% to Reach US$ 19 Bn by 2030 | FMI
The USA Mobility Market is currently valued at around US$ 12 Bn, and to rise at a CAGR of 6% between 2020 and 2030. The market is expected to witness high demand for canes, crutches, wheelchairs, and other devices. Besides this, experts at FMI forecast the sales of mobility scooters to surge, driven by the increasing demand for innovative modes of transport. Personal mobility devices are in high demand especially among people facing disability or impaired mobility. Heath issues such as physical disabilities, osteoarthritis or fracture can restrict the ability of movement in a person. Personality mobility devices are often used to assist in movement of such individuals. According to a study conducted by the World Health Organization, the population of people aged 60 years and higher is expected to total 2 billion by 2050, up from 900 million in 2015. It is a known fact that aged population are more vulnerable to diseases and health concerns, which may result in disability. As per the Centers for Disease Control and Prevention (CDC), in the U.S. alone nearly 54.5 million people were affected by arthritis between 2013 and 2015. Globally, the number of people reporting disability or activity limitation is increasing. This connotes that it is more likely for the demand for personal mobility devices to surge in the forthcoming years. Future Market Insights offers insights into key factors prevailing in the market. Some of these are:
Driven by higher demand for assistive technologies, the market is forecast to surpass US$ 12 Bn by 2020
An increasing number of companies are expected to focus on developing novel products with enhanced features. There will be ample focus towards making these products more affordable to ensure their better accessibility across the world
East Asia and South Asia are expected to demonstrate high demand for personal mobility devices backed by the presence of a sophisticated healthcare infrastructure
Penetration in consumer markets key to succeed in personal mobility device market
Manufacturers of personal mobility devices are moving close to customer vicinity by moving to rapidly growing sales platforms
Favorable reimbursement policies on purchase and rental of personal mobility devices will aid expansion of the market in the coming years
Who is winning in Personal Mobility Devices Market ? Global personal mobility devices market is characterized with sizable presence of large MNCs as well as small star-ups. Concentration of these companies are evenly distributed in Europe, North America and East Asian tech-backed countries. Some of the leading players operating in the global personal mobility devices market are Stryker Corporation, Invacare Corporation, GF Health Products Inc., Arjo AB, Compass Health Brands, Pride Mobility Products Corporation, Permobil Company, Hill-Room Holdings Inc., Klaxon Mobility GmbH,