According to FutureWise analysis the market for Personal Mobility Devices in 2023 is US$ 11.32 billion, and is expected to reach US$ 19.48 billion by 2031 at a CAGR of 7.00%.
Individual travelling is made easier with personal mobility equipment. These can be manual or powered, and are commonly used for ambulation by patients with mobility issues. Walkers, wheelchairs, rollators, canes, and crutches are examples of these devices. Due to technical developments in devices, such as making them portable and easy to access, the personal mobility devices market is predicted to increase significantly throughout the forecast period. Furthermore, the global prevalence of chronic diseases such as coronary heart disease, heart failure, diabetes, rheumatoid arthritis, and osteoarthritis is increasing, boosting market growth. Similarly, an increase in the global senior population, which is more vulnerable to injuries or medical issues that necessitate medical help, contributes to the growth of the personal mobility device market. However, the expensive cost of these devices, a lack of expertise, and problems connected with the use of personal mobility devices are some of the significant roadblocks to market expansion throughout the projection period. In the near future, however, advances in medical device technology connected to patient mobility, as well as a growth in demand for personal mobility devices in emerging nations, are projected to create attractive market expansion opportunities. Furthermore, an increase in the number of patients with Muscular Dystrophy, Parkinson's disease, Scoliosis, Amyotrophic Lateral Sclerosis (ALS), Spina Bifida, traumatic brain injury, arthritis, and diabetes who are more susceptible to mobility disorders and may require wheelchairs is expected to propel market growth even further.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Personal Mobility Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Personal Mobility Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.