Personal Mobility Devices Market By Product (Medical Furniture & Bathroom Safety Products, Medical Mobility Aids And Ambulatory Devices), By End-User (Homecare Settings, Hospitals And Clinics, Ambulatory Surgical Centers), & Region For 2024-2031

Personal Mobility Devices Market Valuation – 2024-2031

The Personal Mobility Devices Market is expanding and diversifying significantly in recent years, owing to technical improvements and rising demand for easy and effective transportation solutions. These technologies cater to those with mobility issues, providing alternatives to typical modes of transportation such as vehicles and bicycles. Key inventions include electric scooters, motorized wheelchairs, and self-balancing hoverboards, which are popularizing due to their simplicity of use and environmentally beneficial nature. These factors are likely to enable the market size surpass USD 11.58 Billion valued in 2023 to reach a valuation of around USD 18.97 Billion by 2031.

Furthermore, the industry is experiencing an increase in usage across a variety of demographics, including the elderly wanting improved mobility and urban commuters looking for last-mile connection options. Government measures promoting sustainable mobility and accessibility have also helped the sector grow. Manufacturers continue to optimize designs and include smart technologies, such as GPS navigation and battery management systems, the Personal Mobility Devices Market is poised for continued growth, addressing both consumer needs and societal challenges related to urban mobility and accessibility. The rising demand for personal mobility devices is enabling the market grow at a CAGR of 7.8% from 2024 to 2031.

Personal Mobility Devices MarketDefinition/ Overview

Personal Mobility Devices (PMDs) are small, motorized vehicles designed for personal transportation, primarily utilized for short distances in urban settings. They include electric scooters, hoverboards, and electric bicycles, which provide handy alternatives to traditional modes of transportation. PMDs are popular because they are portable, environmentally friendly and ideal for short journeys or leisure activities.

Personal mobility equipment, such as electric scooters and wheelchairs enable independence and accessibility to those with mobility disabilities. They improve freedom of movement in cities, parks and indoors, boosting inclusivity and lowering reliance on traditional transportation. These technologies make daily commute and leisure activities more convenient as well as allowing users to easily navigate their surroundings.

In the future, Personal Mobility Devices (PMDs) will have superior AI for seamless navigation and safety. They will be tiny, electric-powered and easily accessible, revolutionizing urban transportation with environmentally responsible options. Enhanced connection will provide real-time traffic information and individualized route suggestions, making PMDs essential for efficient, sustainable commuting in the world’s most congested cities.

Will Growing Aging Population and Rise in Mobility Impairment Disorders Drive the Personal Mobility Devices Market?

The expanding elderly population and the growth in mobility impairment disorders are major drivers of the Personal Mobility Devices Market. As the world’s population ages, so does the prevalence of illnesses including arthritis, stroke and other mobility impairments that limit daily mobility. This demographic transition increases the demand for mobility aids such as wheelchairs, walkers, and mobility scooters, which help people preserve their independence and quality of life.Furthermore, advances in healthcare and rehabilitation services have enhanced diagnosis and treatment options, resulting in increased knowledge and use of mobility devices. These factors, together with rising healthcare costs and increased disposable incomes in many regions are driving the market expansion for personal mobility devices.

Also, as people’s lives become more sedentary and the prevalence of chronic health disorders rises, there is a larger need for appropriate mobility and rehabilitation solutions. As a result, these demographic and healthcare trends are likely to drive significant growth in the Personal Mobility Devices Market.

Will Lack of Awareness About Advanced Personal Mobility Devices Hamper the Personal Mobility Devices Market?

A lack of information about modern personal mobility gadgets might harm the market. Many potential users and caregivers may be unaware of the most recent advancements in mobility aids, which include features that improve comfort, usability and accessibility. Because of this lack of information, helpful gadgets that could considerably improve mobility and quality of life may go unutilized or be adopted later.

Also, healthcare personnel may not be completely educated about newer models and technology, which can influence their recommendations to patients. Inadequate awareness among healthcare professionals and customers may result in a preference for older, less effective models or alternative solutions that do not satisfy all mobility needs.

Addressing this situation involves thorough educational and outreach activities to inform both healthcare providers and the general public about the benefits and advancements in personal mobility devices, ultimately fostering greater acceptance and adoption in the market.

Category-Wise Acumens

Will Increasing Advancements in Wheelchair Technology Drive the Product Segment?

Increasing improvements in wheelchair technology are projected to enable the medical furniture & Bathroom safety products segment hold dominant share in the market. Lightweight materials, ergonomic designs and sophisticated propulsion systems are technological breakthroughs that improve user comfort, mobility and independence. Thus, high demand for powered wheelchairs with sophisticated controls and navigation systems to cater to users with needs of varied degrees of mobility disability, is one of the primary drivers of the segment.

Furthermore, continued research and development in healthcare technologies is projected to improve the functionality, durability and accessibility of medical furniture and bathroom safety products. These developments cater to unique user demands and preferences, supporting greater acceptance and usage of such products as necessary mobility aids.Also, as public awareness and inclusivity increase, there is a growing emphasis on establishing inclusive spaces and improving accessibility. This cultural transformation, paired with technology improvements, offers a conducive climate for the continuous evolution and expansion of the this segment, meeting the mobility needs of diverse populations more effectively.

Will Increasing Demand for Mobility Aids for Elderly Care and Convenience Drive the End-User Segment?

Rise in the patients admitted to the hospitals and clinics with mobility-related disabilities is anticipated to lend a hand in the expansion of the Personal Mobility Devices Market. The growing demand for mobility aids for aged care and convenience in the hospitals is a major driver of this end-user segment in the Personal Mobility Devices Market. As the global population ages, there is an increasing demand for solutions that improve elderly people’s mobility and independence. Walkers, wheelchairs and mobility scooters are important mobility devices that help seniors with daily activities and improve their quality of life during their stay in the hospitals or clinics.

Furthermore, advances in healthcare legislation and technologies have facilitated the transition to homecare settings for senior care, allowing this segment to exhibit rapid growth over the forecast period. Many seniors prefer to age in place, aided by homecare services and mobility aids that allow them to remain independent and mobile in their familiar surroundings.

This trend is driven by advancements in the design and functionality of mobility aids, which make them more user-friendly and accessible to the elderly. As a result, demand for personal mobility devices in homecare settings is projected to increase further, propelling this market segment forward significantly.

Gain Access into Personal Mobility Devices Market Report Methodology

Country/Region-wise Acumens

Will Higher Healthcare Expenditures and Advanced Infrastructure Drive the Market in North America?

Higher healthcare expenses and upgraded infrastructure are driving the North American personal mobility device industry. The United States and Canada, with their strong healthcare systems and significant healthcare spending, create a favourable climate for the adoption of innovative medical technologies, particularly personal mobility devices. This financial commitment promotes R&D, innovation and the availability of high-quality healthcare products.

Furthermore, North America’s well-developed infrastructure, which includes accessible transit networks and urban design, encourages the use of personal mobility devices by people with mobility impairments or disabilities. This infrastructure means that these devices may be effortlessly incorporated into everyday life, increasing their appeal and usefulness to consumers.

The combination of significant healthcare spending and advanced infrastructure not only supports North America’s existing market dominance, but also positions the region for future growth and innovation in the personal mobility device sector.

Will Rising Disposable Incomes Drive the Personal Mobility Market in Asia Pacific?

Rising disposable incomes in Asia-Pacific are expected to greatly boost the market for mobility gadgets. Individuals’ purchasing power increases when their salaries rise, allowing them to acquire healthcare products and services such as mobility aids. This development is especially important given the region’s rising urbanization and aging population, both of which lead to a greater demand for mobility solutions.

Furthermore, increasing disposable earnings are frequently associated with improved healthcare access and awareness, which leads to higher use of mobility devices for rehabilitation, senior care, and disability support. The expanding middle class in countries such as China, India and Southeast Asia drives demand for high-quality healthcare products, including technologically advanced mobility devices that improve mobility and overall quality of life.

Rising incomes may encourage investments in healthcare facilities and services, bolstering the demand for mobility devices. Thus, while cultural and legislative constraints are important, rising disposable incomes are a key force influencing the future of mobility device markets in Asia-Pacific.

Competitive Landscape

The Personal Mobility Devices Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the Personal Mobility Devices Market include

BASF SE, Ashland, Inc., DCC, Mitsubishi Chemical Group Corporation, Evonik Industries AG, LyondellBasell Industries Holdings B.V., Sinopec, Genomatica, Inc., Nanjing Chengzhi Biomaterial Co., Ltd., Bio Amber, Inc.

Latest Developments

• In August 2021, Falcon Mobility’s Ultra-Lite 2 electric wheelchair boasts portability and lightweight design. The company aims to provide affordable and lightweight wheelchairs for elderly and disabled individuals, making it easier for caregivers to transport personal mobility aids to and from vehicles.
• In July 2021, The International Air Transport Association (IATA) developed the Global Mobility Aids Action Group to improve wheelchair transportation.

Report Scope

Personal Mobility Devices Market, By Category

Product

• Medical Furniture & Bathroom Safety Products
  1. Mobility Scooters
  2. Wheelchair
  3. Crutches
  4. Walkers & Canes
• Medical Mobility Aids & Ambulatory Devices
  1. Stair Lifts
  2. Medical Beds
  3. Patient Lifts
  4. Commodes
  5. Bars and Railings

End-User

• Hospitals & Clinics
• Homecare Settings
• Ambulatory Surgical Centers

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as a future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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