Pune, May 13, 2022 (GLOBE NEWSWIRE) -- Market Data Centre has published a report having the title “Global Personal Mobility Devices Market, 2022-2030”. The global personal mobility devices market is set to expand at a CAGR of nearly ~7.4% in terms of revenue owing to massive product penetration in healthcare sector. Furthermore, rise in aging population susceptible to chronic disorders will contribute majorly towards personal mobility devices market size. Apparently, students prefer utilization of personal mobility devices for commuting to educational institutes. A prominent use of electric bikes for traveling across corridors, gardens, and corridors of huge premises has paved a way for massive growth of industry.
Surge in number of road collisions, spinal cord injuries, and meningitis play a pivotal role in expansion of personal mobility devices industry. Furthermore, firms are focussing on new product development to provide comfort to end-users and this is likely to steer growth of personal mobility devices market. As per World Population Prospects by UN 2020, the number of individuals aged 60 years & more is set to expand significantly by 2050. Reportedly, according to Bureau of Transportation Statistics, the U.S. Department of transportation, nearly 26 million of the U.S. population have disabilities and cannot travel to other locations from home.
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Key Findings From Study
- Wheelchair Segment To Dominate Product Landscape Over Forecasting Years (2022-2030)
- Europe To Contribute Nearly 34% Of Overall Market Revenue Share By 2030
Personal Mobility Devices Market: Competitive Insights
Market for personal mobility devices industry is highly fragmented with large number of players have entered the market. Moreover, these players are implementing various kinds of business strategies for expanding their product portfolio.
Some of giant participants have strongly impacted growth of personal mobility devices market and will continue to do so even in foreseeable future. They are Drive DeVilbiss Healthcare, Invacare Corporation, GF Health Products, Inc., Kaye Products, Inc., Carex Health Brands, Inc., Briggs Healthcare, NOVA Medical Products, Medline Industries, Inc., Rollz International, and Performance Health.
Breakthroughs Witnessed in Personal Mobility Devices Market
- In September 2020, Rollz International BV launched Parkinson rollators in international trade fair. Moreover, product was manufactured for persons affected from freezing symptoms that were related to Parkinson disorder
- In June 2016, GF Health Products joined hands with Mercy Ships GF Health Products, Inc. for donating medical device for poor persons in Africa
- In March 2015, Permobil AB purchased ROHO Group, Inc. for expanding healthcare & advanced rehabilitation solutions portfolio
- In September 2015, Hill-Rom Holdings, Inc. acquired Welch Allyn for reinforcing product portfolio across personal mobility devices industry
Market Dynamics
Drivers: Rise in disposable income and technological breakthroughs will contribute immensely towards Personal Mobility Devices Market trends. Furthermore, demand-supply dynamics will also impact growth of Personal Mobility Devices Market. Favorable government policies and increase in purchasing capacity of consumers will favorably influence expansion of Personal Mobility Devices Market.
Restraints: Lack of technical experts and fluctuations in raw material costs will pose a threat to growth of Personal Mobility Devices Market. Additionally, outbreak of COVID pandemic leading to lockdowns has curtailed supply chain activities, thereby putting brakes on Personal Mobility Devices Market.
Opportunities: High focus of industry players on forming strategic alliances along with launching of new products & technologies will generate lucrative growth avenues for Personal Mobility Devices Market. Industry players are focusing on expanding their regional presence and establishing a strong position in Personal Mobility Devices Market. This will result in increment of size of Personal Mobility Devices Market over forecast timeframe.
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Challenges:
A) Scalability Improvement, B) Data Gathering, C) Implementation of solutions to ease of using the product according to systems and environment, and D) Security & Privacy maintenance.
A fundamental challenge faced by the companies in major market is to develop privacy and security models and the protocols to ensuring pertaining to the flow of demand and supply.
Testbeds and Infrastructure Experiments to be done with market status, which plays a pivotal role in advancing the concerned fields. Perhaps the challenges in creating and maintaining the market required interdisciplinary and multidisciplinary actions to result a poised growth, wherein the organizations should encounter early challenges and should come up with creating, managing, and manipulating for foresighted results. Cognitive Research technique would always address their most critical priorities to achieve stronger business outcomes in transforming businesses. Our objective assessments can help mitigate risk by understanding the business methodology and creating strategic commitments.
Competitive Landscape
Our Personal Mobility Devices Market evaluation framework focusses on five parameters including consumer, product or service, time, competition, and finance. We rigorously evaluate external factors such as consumer, time, and competition and provide data to firms as to what opportunities are there for them in this dynamically changing Personal Mobility Devices Market. MDC looks into internal factors such as product or service and finance required by firm to offer product or service, thereby providing insights to firms in knowing best opportunities available for them in Personal Mobility Devices Market. Our organization also provides business model canvas that will help industry players in aligning their business activities based on potential trade-offs. Moreover, we ensure that the model will help firms in delivering high value proposition to their clients.
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Personal Mobility Devices Market 2022 - 2030 - Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MDC Research
Scope of Report
| Report Metric | Details |
| Historical Years | 2017-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Million or USD Billion) |
| Segments Included | |
| Regions Included | North America, Asia Pacific, Europe, The Middle East & Africa, and Latin America |
| Companies included | All Major Tier-1, Tier-2, and Tier-3 companies are covered in this Personal Mobility Devices Market report (25 Vendor Profiles) |
Key Questions Answered in This Report:
- What is the potential of the Personal Mobility Devices Market?
- What is the impact of COVID-19 on the global Personal Mobility Devices Market?
- What are the top strategies that companies adopting in Personal Mobility Devices Market?
- What are the challenges faced by SME’s and prominent vendors in Personal Mobility Devices Market?
- Which region has the highest investments in Personal Mobility Devices Market?
- What are the latest research and activities in Personal Mobility Devices Market?
- Who are the prominent players in Personal Mobility Devices Market?
- What is the potential of the Personal Mobility Devices Market?
About MDC:
Market Data Centre (Subsidiary of Yellow Bricks Global Services Private Limited)
Market Data Centre offers complete solutions for market research reports in miscellaneous businesses.These decisions making process depend on wider and systematic extremely important information created through extensive study as well as the most recent trends going on in the industry.The company also attempts to offer much better customer-friendly services and appropriate business information to achieve our clients’ ideas.
