Mobility Aids Market Report
Mobility Aids Market by Product (Walking Aids, Wheelchairs, and Scooters), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Mobility Aids Overview
Mobility aids are quintessential for people with disabilities, injuries, or age-related mobility issues, enabling them to hold independence, enhance mobility, and improve their quality of life. The market encompasses a huge range of products such as wheelchairs, mobility scooters, walking aids (canes, crutches), and stairlifts, among others. With a growing getting aged population and an increasing incidence of chronic diseases and disabilities, the global mobility aids market is witnessing large growth. The market is driven due to factors such as technological advancements, improving healthcare infrastructure, increasing focus about mobility aids, and favorable authorities' initiatives aimed at merchandising accessibility and inclusivity. To satisfy the increased demand for mobility aids worldwide, manufacturers in this market are focusing on producing modern and user-friendly products, enhancing product quality and durability, and expanding their distribution networks.
Global Mobility Aids Market Analysis
The global mobility aids market size was $8,592.99 million in 2022 and is predicted to grow with a CAGR of 5.2%, by generating a revenue of $14,215.33 million by 2032.
COVID-19 Impact on Global Mobility Aids Market
The global mobility aids market experienced a sizable impact due to the COVID-19 pandemic. The outbreak of the pandemic led to disruptions in the supply chains, manufacturing, and distribution of mobility aids. Lockdowns, restrictions on non-essential medical procedures, and reduced healthcare center visits affected the typical demand for mobility aids. During the early stages of the pandemic, the sales of mobility aids dropped as people postponed non-essential medical appointments. The focus of healthcare assets shifted closer to managing COVID-19 cases, resulting in a decreased emphasis on mobility aids fittings. Furthermore, the closure of rehabilitation centres and restricted access to medical services impacted demand for mobility aids since people had less opportunities for checkups, consultations, and fittings. However, as the pandemic progressed, the demand for mobility aids rebounded. The need for domestic healthcare solutions multiplied as people sought methods to control their mobility limitations. Moreover, the pandemic highlighted the significance of contamination control methods, resulting in a greater emphasis on the advancement of mobility aids with enhanced hygiene elements and materials. Manufacturers targeted incorporating antimicrobial coatings, easy-to-clean surfaces, and contactless functionalities in their merchandise to address the evolving security concerns.
Growing Aging Population and Rising Impairment Disorders to Drive the Market Growth
The global mobility aids market is anticipated to witness a massive surge due to the rising growing older population and the upward thrust in impairment disorders. As the world population continues to age, the incidence of mobility-related problems and impairment disorders such as arthritis, osteoporosis, and neurological conditions increases. These conditions commonly result in reduced mobility, making mobility aids essential for men and women to maintain independence and improve their quality of life. The growing elderly population is especially prone to mobility issues, therefore the demand for mobility aids will increase. Mobility aids such as wheelchairs, mobility scooters, and on foot aids offer assistance and support to those with mobility constraints, allowing them to move around more easily and independently. Moreover, advances in healthcare and increased access to scientific facilities have resulted in improved prognosis and treatment options for impairment disorders. As a result, a higher number of men and women are searching for mobility aids to help them manage their diseases successfully. Rising awareness of the benefits of mobility aids, as well as the availability of a wide range of technologically advanced products, all contribute to market expansion.
Limited Accessibility to Restrain the Market Growth
Limited accessibility is a significant issue that may limit the growth of the global mobility aids market. Accessibility refers to the availability of infrastructure, facilities, and services that allow men and women with mobility challenges to move around and participate fully in society. When accessibility is restricted, it can impede the use and effectiveness of mobility aids, negatively influencing the market. One of the most serious issues is a lack of accessible infrastructure in public spaces, buildings, and transit networks. Inadequate ramps, lifts, enlarged doorways, and feasible paths can make it difficult for people who use mobility aids to get around in their surroundings. Furthermore, the lack of comprehensive mobility regulations or inappropriate implementation of current policies in certain places worsens the problem.
Technological Advancements to Drive Excellent Opportunities
The increased emphasis on technology improvements and product innovation is one of the primary reasons driving significant prospects in the global mobility aids market. Manufacturers in the market are always investing in research and development in order to create new and improved mobility aids that enhance the consumer experience, functionality, and convenience. Modern components of mobility aids such as superior manipulation systems, adjustable sitting options, lightweight materials, foldable forms, and intelligent connectivity have resulted from technological breakthroughs. These components give consumers greater mobility, comfort, and versatility, enhancing their overall quality of life. Furthermore, the integration of digital technologies and connectivity solutions has opened new avenues for the mobility aids market. Smart features, inclusive of GPS tracking, faraway monitoring, and cellular applications, enable higher management and customization of mobility aids, bettering security and comfort for users and their caregivers. The incorporation of assistive technologies, such as robotic assistance and exoskeletons, into mobility aids is also giving rise to notable opportunities. These technologies offer improved help and assistance, especially for people with severe mobility limitations, by increasing their power and movement.
Global Mobility Aids Market Share, By Product, 2022
The wheelchairs sub-segment accounted for the highest market size in 2022. Wheelchairs hold a huge market share in the global mobility aids market. They play an essential role in offering mobility and independence to humans with disabilities or limited mobility. Wheelchairs are designed to meet a variety of needs, ranging from manual wheelchairs propelled by the user to powered wheelchairs powered by electric motors. Manual wheelchairs, which are driven by the user's own body weight, were previously the most common type of wheelchair. They provide cost-effective and versatile mobility choices for men and women with some sort of mobility restrictions. Manual wheelchairs are available in a range of configurations, including regular, lightweight, and ultra-lightweight variants, to meet unique user preferences and requirements.
Powered wheelchairs, on the other hand, are gaining popularity as technological knowledge advances and the demand for more beneficial mobility support increases. These wheelchairs include electric motors, making them convenient and simple to use for anyone with limited upper body strength or mobility problems. Powered wheelchairs can be controlled with joysticks or specialized input devices, giving clients more freedom and independence. The growing prevalence of impairments and chronic illnesses, increased awareness of mobility aid devices, and developments in wheelchair technology are driving the wheelchair sector. Manufacturers are continually developing lighter, more compact, and feature-rich wheelchairs that improve user comfort, maneuverability, and overall functionality.
Global Mobility Aids Market Share, By Region, 2022
The Europe region holds a big market share in the global mobility aids market. The region possesses a well-developed healthcare infrastructure, favorable government policies, and an ageing population, which promotes the demand for mobility aids. European countries have implemented comprehensive mobility norms and regulations, ensuring that public places, buildings, and transit systems are wheelchair friendly. These activities promote accessibility and mobility, hence promoting the expansion of the mobility aids market. Furthermore, Europe has a high degree of awareness about the benefits of mobility aids, as well as a strong emphasis on social welfare.
Competitive Scenario in the Global Mobility Aids Market
The market is distinguished by the presence of both global companies and regional manufacturers, each offering a wide range of mobility aids to meet a broad range of consumer needs. To strengthen their market position, key players in the global mobility aids market focus on product innovation, research and development, and strategic collaborations. They are constantly striving to offer technologically superior and simple mobility aids that provide improved comfort, safety, and functionality.
Some of the leading players operating in the global mobility aids market include Invacare Corporation, Sunrise Medical LLC, Pride Mobility Products Corp, Ottobock healthcare, Drive DeVilbiss Healthcare, and Permobil AB, amongst others. These agencies have a strong global presence and a comprehensive product portfolio, ranging from manual wheelchairs and mobility scooters to electric wheelchairs and walking aids.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Product
Key Companies Profiled
Q1. What is the size of the global mobility aids market?
A. The size of the global mobility aids market was over $8,592.99 million in 2022 and is projected to reach $14,215.33 million by 2032.
Q2. Which are the major companies in the global mobility aids market?
A. Permobil AB and Ottobock Healthcare are some of the key players in the global mobility aids market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Europe region possesses great investment opportunities for investors to witness the most promising growth in the future
Q4. What are the strategies opted by the leading players in this market?
A. Agreement and investment are the two key strategies opted by the operating companies in this market.