by The global personal mobility devices market size reached USD 11.35 billion in 2023 and is projected 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 range of products designed to aid individuals in moving around more easily and independently. These devices include wheelchairs, scooters, walkers, canes, and crutches, among others. The market has seen substantial growth due to increasing demand from the aging population, rising incidence of mobility-related health conditions, and advancements in technology. Personal mobility devices not only improve the quality of life for users but also promote greater independence and social participation.
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Growth Factors
Several factors contribute to the growth of the personal mobility devices market. Key among them is the aging global population, which drives demand for mobility aids. Additionally, the rising prevalence of chronic diseases and conditions such as arthritis, osteoporosis, and diabetes, which can impair mobility, further boosts market demand. Technological advancements, including the development of lightweight materials and advanced battery technologies for electric mobility devices, also play a significant role in market expansion. Increasing healthcare expenditure and supportive government policies and funding for mobility aids add to the market’s growth trajectory.
Region Insights
Regionally, North America holds a significant share of the personal mobility devices market, driven by high healthcare spending, a large aging population, and strong presence of key market players. Europe follows closely, with similar demographic trends and robust healthcare infrastructure. The Asia-Pacific region is expected to witness the fastest growth, attributed to the increasing elderly population, rising disposable incomes, and improving healthcare facilities. In emerging economies like China and India, growing awareness about mobility devices and expanding healthcare services are key factors propelling market growth.
Personal Mobility Devices Market Scope
| Report Coverage | Details |
| Personal Mobility Devices Market Size in 2023 | USD 11.35 Billion |
| Personal Mobility Devices Market Size in 2024 | USD 12.12 Billion |
| Personal Mobility Devices Market Size by 2033 | USD 21.95 Billion |
| Personal Mobility Devices Market Growth Rate | CAGR of 6.82% from 2024 to 2033 |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Personal Mobility Devices Market Dynamics
Drivers
The primary drivers of the personal mobility devices market include demographic shifts towards an aging population and the increasing prevalence of mobility-impairing conditions. Technological innovation also serves as a crucial driver, with continuous improvements making devices more efficient, affordable, and user-friendly. Enhanced accessibility to healthcare services and increased insurance coverage for mobility aids contribute significantly to market growth. Additionally, the growing focus on home healthcare and the need for assistive devices in home settings are driving demand.
Opportunities
The personal mobility devices market presents numerous opportunities for growth and innovation. One of the key opportunities lies in the integration of smart technologies, such as IoT and AI, into mobility devices, enabling features like remote monitoring and automated assistance. Expanding market reach in emerging economies with large populations of elderly and disabled individuals presents another significant opportunity. There is also potential for growth in the customization of devices to better meet individual user needs and preferences, enhancing comfort and usability. Furthermore, partnerships and collaborations between manufacturers and healthcare providers can facilitate the development of more advanced and accessible mobility solutions.
Challenges
Despite the positive growth outlook, the personal mobility devices market faces several challenges. High costs associated with advanced mobility devices can limit their accessibility, particularly in low-income regions. Reimbursement issues and stringent regulatory requirements can also pose barriers to market entry and expansion. Additionally, the lack of awareness and stigma associated with the use of mobility aids in certain cultures can hinder market growth. Ensuring product quality and safety while keeping costs down is another ongoing challenge for manufacturers.
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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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