The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s mobility aids and transportation equipment market report forecasts the mobility aids and transportation equipment market size to grow to $4.12 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

Learn More On The Mobility Aids And Transportation Equipment Market Report 2023 – https://www.thebusinessresearchcompany.com/report/mobility-aids-and-transportation-equipment-global-market-report

Mobility Aids And Transportation Equipment Market Size Forecast

The global mobility aids and transportation equipment market is expected to grow from $2.94 billion in 2022 to $3.18 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mobility aids and transportation equipment market size is expected to grow to $4.12 billion in 2027 at a CAGR of 6.7%.

Asia-Pacific held the largest mobility aids and transportation equipment market share.

Key Mobility Aids And Transportation Equipment Market Driver ­– Rise In The Aging Population

According to WHO, the worldwide geriatric population will double by 2050 from 12% to 22%, propelling the mobility aids & transportation equipment market growth.

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Key Mobility Aids And Transportation Equipment Market Trend – Introducing A Single-Seat Self-Driving Car

Japanese automakers introduced a single-seat self-driving car to aid and assist people who find walking or using public transit difficult. This self-driving car is smartphone or tablet enabled – pick a destination on the map and the pathfinding system in the vehicle will take care of the rest. It is equipped with a navigation system which will help to get from point A to B, a gyro sensor helps the car to remain stable on uneven surfaces, 2D and 3D laser sensors will be used to judge distance from items and stereo cameras will be used to detect obstacles in its path. The car is designed to maneuver easily through city streets, pavements, and footpaths. Sensors and guidance systems will help the vehicle to navigate around bumps, potholes, and pedestrians.

Mobility Aids And Transportation Equipment Market Segment

1) By Type: Electrically Powered Wheelchairs, Manual Wheelchairs, Walking Aids, Mobility Scooters, Stretchers, Stair Lifts

2) By End User: Hospital, Clinic, Household

3) By Age Group: Mobility Aids for Children, Mobility Aids for Elderly

Mobility Aids And Transportation Equipment Market Major Players and Strategies

Major players in the mobility aids and transportation equipment market are Medline Industries, Hoveround Corporation, Sunrise Medical LLC., OttoBock Healthcare GmbH, Medline Industries, GF Health Products Inc., Invacare Corporation, LEVO AG, Permobil AB, and Hill-Rom Holdings Inc.

In June 2021, a consortium of private equity firms acquired Medline for the deal of the $34 billion amount. This acquisition is to accelerate international expansion and strengthen its global supply chain. Medline is a US-based healthcare company.

The Mobility Aids And Transportation Equipment Global Market Report 2023 covers regional data on mobility aids and transportation equipment market size, mobility aids and transportation equipment market trends and drivers, opportunities, strategies, and mobility aids and transportation equipment market competitor analysis. The countries covered in the mobility aids and transportation equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Mobility aids and transportation equipment are medical devices used to transport patients or medical products from one place to another.

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