Personal Mobility Devices Market Size, Trends, Report by 2033

The global personal mobility devices market size is expected to be worth around USD 21.95 billion by 2033, growing at a CAGR of 6.82% from 2024 to 2033.

Key Points

• The North America personal mobility devices market size accounted for USD 4.09 billion in 2023 and is expected to attain around USD 8.01 billion by 2033, poised to grow at a CAGR of 6.95% between 2024 and 2033.
• North America led the market with the biggest revenue share of 36% in 2023.
• Asia Pacific is expected to expand at the fastest CAGR of 8.22% during the forecast period.
• By product, the wheelchair segment held the largest revenue share of 47% in 2023.
• By product, the scooter segment is expected to grow rapidly in the market during the forecast period.

The personal mobility devices market encompasses a wide range of products designed to aid individuals with mobility challenges. These devices include wheelchairs, scooters, canes, crutches, walkers, and more advanced equipment like powered exoskeletons. The market has seen significant growth over the past decade, driven by technological advancements, an aging global population, and increased awareness about mobility solutions.

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Growth Factors

Several key factors contribute to the growth of the personal mobility devices market. One of the primary drivers is the increasing prevalence of chronic conditions and disabilities that affect mobility, such as arthritis, multiple sclerosis, and spinal cord injuries. Additionally, the aging population worldwide is a significant factor, as older adults often require assistance with mobility. Innovations in technology, such as the development of lightweight materials and advanced electronics, have also played a crucial role in enhancing the functionality and appeal of these devices.

Region Insights

The market dynamics for personal mobility devices vary significantly across different regions. North America holds a substantial share of the market, driven by high healthcare spending, advanced medical infrastructure, and a large aging population. Europe also represents a significant market, with strong government support for healthcare and rehabilitation services. In Asia-Pacific, the market is growing rapidly due to increasing healthcare investments, rising disposable incomes, and a large aging population in countries like Japan and China. Emerging markets in Latin America and Africa are also showing potential growth, driven by improving healthcare infrastructure and growing awareness about mobility solutions.

Personal Mobility Devices Market Scope

Personal Mobility Devices Market Dynamics

Drivers

Several drivers are propelling the personal mobility devices market forward. Technological advancements, such as the development of more durable and user-friendly devices, have made mobility aids more attractive to users. Additionally, the growing prevalence of disabilities and chronic conditions necessitates the use of these devices. The expanding geriatric population, with its higher incidence of mobility issues, further fuels market demand. Furthermore, increased healthcare spending and insurance coverage for mobility devices in various countries have made these products more accessible to those in need.

Opportunities

The personal mobility devices market presents several opportunities for growth. One significant opportunity lies in the development of smart mobility devices equipped with IoT and AI technologies, which can offer enhanced functionality and connectivity. There is also potential for growth in emerging markets, where improving economic conditions and healthcare infrastructure are increasing demand for these devices. Additionally, partnerships between manufacturers and healthcare providers can lead to better distribution channels and increased awareness among potential users. Customization and personalization of mobility devices to meet specific user needs also offer a promising avenue for market expansion.

Challenges

Despite the positive outlook, the personal mobility devices market faces several challenges. High costs associated with advanced mobility devices can be a barrier for many potential users, particularly in low-income regions. There is also a need for greater standardization and regulation within the industry to ensure the safety and effectiveness of these devices. Reimbursement issues and varying insurance coverage across different regions can also hinder market growth. Additionally, some users may face social stigma associated with using mobility aids, which can impact their willingness to adopt these devices.

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Personal Mobility Devices Market Recent Developments

• In April 2024, United Airlines, a Chicago-based airline, introduced a new digital tool on its website and app that helps users who use wheelchairs locate flights that best suit their individual mobility device’s specifications. The airline further declared that if a customer needs to pay extra for a flight that can accommodate their wheelchair, they may request a refund of the fare difference.
• In July 2023, In the quickly expanding e-mobility sector, the Chinese electronics giant Xiaomi has made a name for itself. Many of Xiaomi’s personal mobility products, like its electric scooters and bicycles, as well as its amusing vehicles like an electric go-kart and monowheel, are useful and entertaining for city inhabitants. In light of this, Xiaomi keeps adding to its already vast range of personal mobility gadgets. The company has introduced the Electric Scooter 4 Go, their newest scooter, in Europe.

Personal Mobility Devices Market Companies

• Invacare Corporation
• Pride Mobility
• Kaye products
• Briggs Healthcare
• Carex Health brand
• GF Health products
• Ottobock
• Permobil
• Electric mobility
• Euroverma
• Medline industries
• Rollz International
• Stryker corporation

Segment Covered in the Market

By Product

• Walking Aids
• Wheelchairs
• Scooters

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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