Mobility Assist Device Market Analysis 2017 (By Segment, Key Players and Applications) and Forecasts To 2024

Mobility Assist Device Market 2017–By Identifying the Key Market Segments and Key players holding market share

PUNE, INDIA, November 13, 2017 /EINPresswire.com/ -- Market Overview
Global mobility assist devices market is one of the growth potential markets across the globe. Rapid pace advancement in mobility assist devices is raising the popularity of mobility assist devices among healthcare facilities. About 20% of the world's population is suffering from some kind of disability whether it is physical or intellectual. The demand for mobility assist devices is rising on the back of growing need of mobility devices among aged population. Most commonly used mobility assist devices are electric scooters, crutches and wheel chairs, among these mobility assist devices, wheelchairs are the most commonly used device. According to WHO, there will be more than 16% of population with age more than the 65 years who are more prone to the mobility impairing disorders and disease. The favorable acts and initiatives taken by government to aid the disables and old people are also expected to boost the market of mobility assist devices across the globe.

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Global mobility assist devices market is up surging due to advancement in technology of mobility devices and new innovations in the healthcare industry. Growing awareness among the population is also one of the key factors which are pushing the mobility assist devices manufacturers to increase the supply into the market. Developing healthcare infrastructure and hospitals also aid to the growth of mobility assist devices market. However, unfavorable reimbursement policies in various countries and dearth of healthcare facilities are the major challenges for market players. There is a huge potential for advanced mobility assist devices in untapped regions such as Africa and others.
According to Center for diseases control and prevention (CDC), the number of people suffering from arthritis in the United States is increasing rapidly owing to hectic and unhygienic lifestyle. In U.S., more than 70 million people are expected to suffer from arthritis disease by the end of 2030. The rising numbers of arthritis patients along with favorable healthcare reforms are creating huge opportunities for the market players to introduce more products into the market.

Key Market Players
• Sunrise Medical LLC
o Synopsis
o Business Strategy
o Product Portfolio
o SWOT Analysis
• Pride Mobility
• Solax Mobility
• Invacare Corporation
• Merits Health Products Inc
• Golden Technologies
• Medline industries
• Healthcare GmbH
• Hoveround Corporation
• LEVO AG
• Permobil AB
• Merivaara Corporation

Growth Drivers and Challenges
According to WHO, there will be a rise in global elderly population from 900 million to 2 billion by 2030, and specific developing regions like Latin America and Asia tends to witness the growth in elderly population from 7.9% to 12.1% of their total population by 2030, providing favorable conditions for the key players of mobility assist device market. Also, increasing rate of chronic and acute diseases along with rising aging population further propel the demand for advanced mobility assist devices. Rising demand for advanced mobility assist devices further pushes the manufacturers to deliver new technology and innovative products. Government's initiatives and policies for the old and disabled people by reducing their taxes, providing financial support and establishments of rehabilitation centers for old people can boost the demands of mobility assist devices globally.
Although, high cost of advanced mobility assist devices is one of the major factor which is restraining the growth of mobility assist devices market. Likewise, lack of awareness towards mobility devices and slow adoption of mobility assist devices in low income countries are hindering the demand for mobility assist devices. The involvement of technology and continuous research and development to introduce innovative products are increasing the cost of mobility assist devices which is creating a huge barrier for market players to generate revenue.

Market Segmentation
• By Products
o Wheel Chairs
 Manual Wheel Chairs
 Electric Wheel Chairs
o Walking Aids
 Canes & Crutches
 Walkers
 Rollators & Tri-Walkers
o Mobility Vehicles and Scooters
• By End Users
o Hospitals
o Household
o Others (airport, hotels, railways, etc)
…Continued

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