USA Mobility Market will Increase at a Healthy CAGR Of 6% to Reach US$ 19 Bn by 2030 | FMI

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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,
Briggs Medical service Company, Eurovema Mobility AB, Ottobock Holdings GmbH
& Co. KG, Sunrise Medical LLC, TOPRO Ltd., and Drive Medical GmbH & Co.
KG, and others.

Acquisition is an important strategy adopted by some of the
leading companies operating in the market. For instance in 2017, Permobil
Company acquired Comfort Company, which specialized in seating and positioning
of mobility devices to expand their service offerings.

In 2020, the company also announced that it is planning to
acquire Supportec B.V, a Dutch manufacturer to further expand its seating and
positioning solutions.

Personal Mobility Devices Market Key Segment

Product Type