The medical mobility aids market size has the potential to grow by USD 2.44 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by product (wheelchairs, walkers, crutches, stretchers, and rollators), end-user (hospitals and clinics, ASCs, and home care settings), and geographic (North America, Europe, Asia, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Bischoff & Bischoff, GF Health Products Inc., Invacare Corp., Magic Mobility Pty Ltd., Medline Industries Inc., NOVA Medical Products, Ostrich Mobility Instruments Pvt. Ltd., Ottobock SE & Co. KGaA, Stryker Corp., and Sunrise Medical LLC.
Market Overview
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Market Competitive Analysis
The market is fragmented and is highly competitive highly competitive due to the presence of several international and regional players competing based on pricing wars and increased market penetration. Product and service extensions and product innovations will increase the competition level between the vendors. The high growth potential of the market encourages new entrants to enter the market. Bischoff & Bischoff, GF Health Products Inc., and Invacare Corp. are some of the major market participants. Although the growing number of healthcare providers will offer immense growth opportunities, the marginal availability of products in rural markets will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this medical mobility aids market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this medical mobility aids market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Bischoff & Bischoff
- GF Health Products Inc.
- Invacare Corp.
- Magic Mobility Pty Ltd.
- Medline Industries Inc.
- NOVA Medical Products
- Ostrich Mobility Instruments Pvt. Ltd.
- Ottobock SE & Co. KGaA
- Stryker Corp.
- Sunrise Medical LLC
Medical Mobility Aids Market: Segmentation by Geography
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North America will offer several growth opportunities to market vendors during the forecast period. 38% of the market’s growth will originate from North America during the forecast period. The US is a key market for medical mobility aids in North America. Market growth in this region will be slower than the growth of the market in APAC and ROW.
Medical Mobility Aids Market: Segmentation by Product
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The elderly require assisted mobility in their day-to-day lives, and the home care settings are the primary end-users for this medical mobility aids segmentation. Powered wheelchairs are preferred primarily due to the regular need for assistance by the elderly and the high disposable income of the people.
The medical mobility aids market share growth by the wheelchairs segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the medical mobility aids market size.
Medical Mobility Aids Market: Key Drivers and Trends
Technavio’s market study identifies the growing number of healthcare providers as one of the primary growth factors for the medical mobility aids market. The increasing prevalence of chronic diseases such as respiratory disorders, rheumatoid arthritis, and factors such as medical emergencies, disease outbreaks, and short-term and long-term disabilities are increasing the demand for services from hospitals, ambulatory surgical centers (ASCs), and home care settings. Several medical mobility aids such as wheelchairs, crutches, and stretchers are used in hospitals and clinics during the post-treatment phases. These factors are expected to drive sales and contribute to a steady market growth at a CAGR of over 5% by 2024.
Clinical mobility products are primarily used in hospitals and healthcare facilities to facilitate the mobility of patients, generally with the assistance of another individual. Technological advancements have resulted in automated mobility aids that can be controlled and operated with minimum human effort. Consumers increasingly prefer sophisticated products such as powered wheelchairs and smart chairs that can be controlled by power buttons or mobile apps. Individuals prefer innovated and improved mobility products influenced by their higher disposable income and increased healthcare spending. The increasing adoption of advanced mobility products is identified as one of the key medical mobility aids market trends that will drive the market share growth.
Medical Mobility Aids Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive medical mobility aids market growth during the next five years
- Precise estimation of the medical mobility aids market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the medical mobility aids industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of medical mobility aids market vendors
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