Senior Mobility Aid Devices Market Size - By Product Type (Wheelchairs, Scooters, Walking Aids, Mobility Lifts, Others), By End-User, By Price, By Distribution Channel & Global Forecast, 2024 – 2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSenior Mobility Aid Devices Market Size
Senior Mobility Aid Devices Market size was valued at USD 11.06 billion in 2023 and is anticipated to register a CAGR of over 6.6% between 2024 and 2032. The industry caters to the evolving needs of an aging population, providing a range of products designed to enhance and support the mobility of elderly individuals. As per the United Nations Department of Economic and Social Affairs (UN DESA) the global population of people over 60 years of age in 2023 has reached to 1.2 billion.
As demographic shifts lead to an increasing proportion of elderly individuals, there is a parallel rise in the demand for mobility aids to address age-related challenges and facilitate independent living. According to a 2018 research report by the World Health Organization, the proportion of the aging population is projected to surge from 7% to 16% of the total global population by the year 2050. Additionally, the study highlights that the number of individuals aged 60 and older will reach 2 billion worldwide by 2050, and one in every six people will be 65 years or older. According to National Council of Aging (NCOA) 2.8 million injuries are treated in emergency department in hospitals due to falling and one in four Americans aged 65 years and above fall each year.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Senior Mobility Aid Devices Market Size in 2023 | USD 11.06 billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 6.6% |
| 2032 Value Projection | USD 19.26 billion |
| Historical Data for | 2018 – 2023 |
| No. of Pages | 160 |
| Tables, Charts & Figures | 228 |
| Segments covered | Product Type, End-User, Price, Distribution Channel, Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Mobility aids such as advanced electric wheelchairs, motorized scooters, and custom-designed walkers often come with a substantial price tag, making them financially challenging for many seniors and their families. The high cost of these devices can be a barrier to accessibility for a considerable portion of the aging population, particularly those on fixed incomes or without comprehensive insurance coverage. The International Labour Organization (ILO) reports that in many developing countries, individuals with disabilities face unemployment rates up to 80%.
Senior Mobility Aid Devices Market Trends
Technological advancements like Advanced AI technologies are being integrated into mobility aids to enhance their functionality, responsiveness, and adaptability to users' needs. AI-powered sensors and algorithms contribute to the development of smart mobility devices that can autonomously navigate various terrains, avoiding obstacles and ensuring a safer user experience. Control Bionics, an Australian firm specializing in advanced assistive technology, has developed the NeuroNode wireless wearable device.
This technology enables individuals to perform tasks that would typically require a keyboard, mouse, joystick, or touchscreen by utilizing signals from their brain. Through eye-tracking, users can control a cursor on a computer or smartphone and execute actions by leveraging neural signals. The NeuroNode offers a solution that enhances accessibility for individuals facing mobility challenges, empowering them to engage with digital devices more seamlessly and independently.
Senior Mobility Aid Devices Market Analysis
Based on the product type, the senior mobility aid devices market is segmented into wheelchairs, scooters, walking devices, mobility lifts, and others, including standers and rollators. In 2023, the wheelchair segment generating a substantial revenue of USD 4.8 billion. This dominance can be attributed to several factors, with a significant one being the high prevalence of Alzheimer's and Parkinson's diseases within the aging population. Individuals affected by these neurodegenerative conditions often experience mobility challenges, making wheelchairs a vital and widely adopted solution. The wheelchair segment's robust performance in the industry is further driven by its versatility, catering to a diverse range of mobility needs among seniors.
Senior mobility aids come in handy for older adults, hospitals, nursing homes, and other places that care for them. In 2023, hospitals and nursing homes took the lead, accounting for 35.8% of the market. That's because these healthcare facilities rely on mobility aids to help elderly patients get around and do their daily tasks. But it's seniors living independently who are expected to drive the fastest growth. They're opting to stay in their homes longer and want mobility aids that are easy to use and can be personalized to their needs. Plus, new technology and the importance of independence are making seniors more willing to consider and use these devices. When it comes to buying mobility aids, people can choose between going to stores or shopping online. In 2023, most people (58.6%) still prefer to go to stores because they can see and try the devices in person. However, online shopping is catching up fast and is expected to grow at a faster rate (6.8%) in the coming years. That's because it's convenient, offers more choices, and makes it easier to compare prices and features.
The Asia Pacific region currently holds the largest senior mobility aid devices market share of 36.5%. This is due to the region's rapidly aging population, increasing awareness about the benefits of senior mobility aids, and a growing focus on healthcare infrastructure development. This region’s economic development and rising disposable incomes have facilitated a greater adoption of advanced assistive technologies, including senior mobility aid devices.
Senior Mobility Aid Devices Market Share
In the world of assistive devices for seniors, a few big players like Invacare, Ottobock, Sunrise Medical, Permobil, and MEYRA dominate the market, sharing about a fifth of the pie. Despite their size, there are hundreds of other smaller players in the industry. These bigwigs are always on the lookout for ways to grow their businesses. They're buying other companies, building new factories, and teaming up with other organizations. All this is done to sell more products, reach more people, and become even bigger players in the market. But they're not just resting on their laurels. They're constantly working on making their wheelchairs, scooters, and other mobility aids better by investing in research and using the latest technology. This helps them stay ahead of the game and keep their customers happy.
Senior Mobility Aid Devices Market Companies
Major players operating in the senior mobility aid devices industry include
- Besco Medical
- Drive DeVilbiss Healthcare
- GF Health Products Inc.
- Invacare Corporation
- MEYRA GmbH
- Medline Industries, LP
- Nova Medical Products
- Ottobock Healthcare GmbH
- Permobil AB
- Pride Mobility Products Corporation
Senior Mobility Aid Devices Industry News
- In October 2023, Sunrise Medical has announced the strategic acquisition of Ride Designs. The acquisition is expected to expand Sunrise Medical’s custom seating offerings, clinical knowledge, service capabilities, and manual and powered mobility devices.
- In February 2023, Los Angeles based mobility firm Reyhee announced that it has introduced two FDA-cleared, medical grade electric vehicles, the Cruiser and the Roamer. These products have long-lasting mobility solutions for senior citizens and people with disabilities.
The senior mobility aid devices market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Million Units) from 2018 to 2032, for the following segments
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By Product Type, (USD Billion; Million Units)
- Wheelchairs
- Manual
- Power
- Scooters
- Boot Scooter
- Midsize Scooter
- Road Scooter
- Walking Aids
- Crane
- Crutches
- Walker
- Mobility Lift
- Others (Standers, Rollers, etc.)
By End-User, (USD Billion; Million Units)
- Individual
- Hospitals and Nursing Homes
- Assisted Living
- Others
By Price, (USD Billion; Million Units)
- Low
- Medium
- High
By Distribution Channel, (USD Billion; Million Units)
- Online Channels
- E-commerce
- Company websites
- Offline Channels
- Specialty Stores
- Mega Retail Stores
- Others (Departmental Stores, etc.)
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Indonesia
- Latin America
- Brazil
- Mexico
- MEA
- Saudi Arabia
- UAE
- South Africa
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