Global Personal Mobility Devices Market to Reach US$ 20.4 Billion by 2032, Propelled by Considerable Rise in the Geriatric Population

According to the latest report by IMARC Group, titled “Personal Mobility Devices Market Report by Product (Walking Aids, Wheelchairs, Scooters, and Others), End Use (Hospitals and Clinics, Home Care Settings, and Others), and Region 2024-2032”, the global personal mobility devices market size reached US$ 12.9 Billion in 2023. Personal mobility devices (PMDs) are compact, motorized assistive vehicles that facilitate human transportation for patients suffering from mobility impairment for ambulation. These can be manual or electric motor-powered, easy to operate, help individuals move independently and freely, and minimize pain. PMD includes a wide range of devices, such as canes, walkers, forearm crutches, roll-abouts, rolling walkers with seats, triangular walkers, and ankle-foot orthotics. These devices offer significant benefits by increasing people’s mobility while some devices even offer substitution for automobile travel. PMDs are typically designed to be easy to maneuver in tight spaces and are generally less expensive than conventional transportation options, such as cars or motorcycles, thereby making them ideal for urban environment. They are also portable, which makes them a convenient transportation option for individuals residing in urban areas or having limited storage space. Some of the PMDs, such as electric bicycles and scooters, provide individuals suffering from mobility issues a more accessible and independent way to travel as well as exercise and stay active. 

Global Personal Mobility Devices Market Trends:

The global market is majorly driven by the growing prevalence of chronic orthopedic and neurological disorders, such as cerebral palsy, muscular dystrophy, and arthritis, among the masses. This can be attributed to the growing geriatric population that is more susceptible to developing these medical conditions as well as injuries that require medical assistance. In line with this, continual technological developments in the manufacturing of advanced mobility devices, such as automated scooters, transfer lifts, and rollators with enhanced portability, are providing an impetus to the market. Moreover, the introduction of favorable reimbursement policies by the government of several countries for the purchase and rental of PMDs is also creating lucrative growth opportunities in the market. Additionally, numerous product innovations, such as the integration of artificial intelligence (AI) and the internet of things (IoT) technology in smart PMDs facilitating real-time data updates to smart devices for constant monitoring, are acting as another significant growth-inducing factor for the market. Furthermore, the growing adoption of numerous strategic initiatives by the key players, such as mergers and acquisitions (M&As), partnerships and collaborations, to enhance their geographical presence is also creating a positive market outlook. Some of the other factors contributing to the market include the rapid utilization of PMDs in commercial areas, such as airports, train stations, shopping malls, and restaurants, the growing awareness regarding the advantages of PMDs, easy product availability across online and offline organized retail channels, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 20.4 Billion by 2032, exhibiting a CAGR of 5.1% during 2024-2032. 

Market Summary:

• Based on the product, the market has been segmented into walking aids, wheelchairs, scooters, and others. Among these, wheelchairs represent the largest market segment. 
• On the basis of the end use, the market has been divided into hospitals and clinics, home care settings, and others. Among these, homecare accounts for the dominant market share. 
• On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa. At present, North America holds the leading position in the market. 
• The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Arjo, Carex Health Brands Inc. (Compass Health Brands Corp.), Drive Medical Inc, GF Health Products Inc., Invacare Corporation, Kaye Products Inc., Medline Industries Inc., Performance Health Supply Inc. (Patterson Medical), Pride Mobility Products Corp., Rollz International, Stryker Corporation, and Sunrise Medical (US) LLC.

Report Scope:

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