Mobility Aids & Transportation Equipment Market Size is set to expand at a considerable rate during the forecast period of 2022-2028. The percentage of people suffering from a wide range of disabilities across the world is rising steadily every year. Physical disabilities, such as blindness and vision impairment are affecting a large number of both, young and old people.
According to the WHO, around 2.2 billion people across the globe are suffering from distance or near vision problems. Interestingly, for nearly half of these patients the ailment was preventable, while some still have to address this health issue. The report further states that people aged 50 years and above are at a higher risk of suffering from vision damage or partial and complete blindness due to cataracts and refractive errors.
The above-mentioned figures have accelerated the need for mobility aids as they are devices that can help visually, and physically disabled people move around without much difficulty or assistance. Moreover, the geriatric population in regions like Europe is growing at a notable pace, which increases the risk of being affected by visual and physical disabilities, thereby boosting the demand for Mobility Aids & Transportation Equipment Market.
Mobility aids and transportation equipment are undergoing several technological advancements to enhance their reliability and performance and assist the elderly and disabled in a better way. According to an article by the United Nations (UN), assistive technologies are gaining popularity in many regions.
Technological enhancements, such as innovations in wheelchair seats and adjustable wheels for different terrains are being implemented in various mobility aids and transportation equipment. Some of the products gaining momentum include assistive robots at home to carry out basic chores and innovative wearable gadgets like colorblind glasses to help colorblind people identify different colors.
Since the elderly population is highly susceptible to contracting orthopedic disorders, such as osteoarthritis and rheumatoid arthritis, the production and sale of mobility aids and transportation equipment are expected to rise.
Based on product, wheelchairs are anticipated to hold an appreciable share of mobility aids & transportation equipment market by 2028. The rising percentage of the elderly population is a major reason for the same, as they are more prone to bone fractures due to minor accidents, which might make it necessary for them to use a wheelchair for easier mobility, thereby increasing its demand.
On the basis of end-use, hospitals are likely to observe a notable CAGR in mobility aids & transportation equipment market over 2022-2028. Patients may increasingly prefer getting treated from hospitals due to the presence of highly skilled healthcare professionals. Also, several hospitals have advanced equipment, such as remote-controlled wheelchairs and innovative gadgets at their disposal, which can increase the quality of patient care. These features will amplify the preference for hospitals among patients.
The UK mobility aids & transportation equipment market share is anticipated to showcase promising growth during the forecast period of 2022-2028 as there are highly trained medical professionals that can make it easier for patients to get accustomed to transportation equipment like wheelchairs. Many companies in the country are producing advanced transportation equipment and mobility aids, such as bed levers, bathing aids, walking frames, stair lifts, and many others, to elevate the patients quality of life.
Moreover, pets like hearing dogs are finding high use among deaf patients to alert them of their alarm clocks ringing, smoke alarms, unauthorized intrusions, and babies crying. Such efforts can also play an important role in saving the patients life from potential threats, thereby fostering their adoption.
Mobility aids & transportation equipment market forecast will be powered by the strong presence of leading organizations, such as GF Health Products, Invacare Corporation, OttoBock Healthcare, Hoveround Corp, LEVO, Hill-Rom, Stryker Corporation, Permobil, Medline Industries, Medical Depot, and Sunrise Medical, among several others.
The companies are producing mobility aids and transportation equipment, such as walking aids, wheelchairs, mobility scooters, and stairlifts and will find high adoption in hospitals and homecare settings. They are also entering into partnerships, mergers, and acquisitions with other firms to bring in technological upgrades, expand their customer base, and augment their global presence.
For example, GF Health Products acquired US-based Gendron Inc., a medical equipment maker, in June 2020. The deal will help GF Health Products in offering a cohesive system of medical equipment that can play a vital role in elevating the quality of patient care offered to patients suffering from obesity.
COVID-19 impact on demand for mobility aids & transportation equipment :
The COVID-19 pandemic had a favorable effect on the use of mobility aids and transportation equipment, such as wheelchairs, stairlifts, and many others as there was a significant increase in patient admissions in hospitals. The medical staff required wheelchairs and walking aids to enhance the quality of patient care and make them feel comfortable while carrying out their daily activities.
The mobility aids & transportation equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028 for the following segments:
Market, by Product
- Walking Aids
- Mobility Scooters
Market, by End-use
- Home Care Settings
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- New Zealand
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa