Portland, OR, June 01, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Personal Mobility Devices Market garnered $7.70 billion in 2019, and is estimated to generate $14.59 billion by 2027, registering a CAGR of 7.1% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.
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Advancements in technology, surge in prevalence of chronic diseases, and rise in aging population drive the global personal mobility devices market growth. However, high investment cost and complications related to usage limit the market growth. On the other hand, increase in demand from emerging countries presents new opportunities in the next few years.
Covid-19 Scenario:
- There were challenges about balance of supply and demand for personal mobility devices as there were disruptions in supply chain and scarcity of human resources with lockdown measures taking place during the Covid-19 pandemic.
- Patients with physical and chronic disabilities had difficulty in following the social distancing guidelines as there was a need of continuous assistance from medical helpers or caregivers. This became risky for attendants and impacted the utilization of these devices.
The report provides detailed segmentation of the global personal mobility devices market based on product, end user, and region.
On the basis of product, the wheelchairs segment accounted for the largest market share in 2019, contributing to nearly three-fourths of the total market share, and is projected to continue its leadership status during the forecast period. However, the mobility scooters segment is estimated to maintain the largest CAGR of 7.6% from 2020 to 2027.
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By end user, the homecare segment contributed to the largest share in 2019, accounting for more than three-fourths of the global personal mobility devices market, and is estimated to maintain its lead position during the forecast period. In addition, this segment is expected to witness the highest CAGR of 7.2% during the forecast period.
Based on region, North America held the highest share in terms of revenue in 2019, accounting for more than two-fifths of the global market share, and is estimated to continue its dominance by 2027. However, Asia-Pacific is projected to manifest the highest CAGR of 8.3% from 2020 to 2027.
Leading players of the global personal mobility devices market analyzed in the research include Briggs Healthcare, Drive DeVilbiss Healthcare, Carex Health Brands, Inc., Invacare Corporation, GF Health Products, Inc., Pride Mobility Products Corp., Medline Industries Inc., Stryker Corporation, Rollz International, and Sunrise Medical LLC.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.