Growth, Trends, and Opportunities in the Mobility Aids And Transportation Equipment Market: Key Insights for the Next Decade
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What is the Long-Term Projected Growth Rate for the Mobility Aids And Transportation Equipment Market, and What Are the Key Drivers?
The market size for mobility aids and transportation equipment has experienced robust growth in the last few years. The market is expected to expand from a value of $2.76 billion in 2024 to $2.99 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.4%. This growth during the historic period can be traced back to several reasons such as an increase in the aged population, various medical conditions and disabilities, expansion in rehabilitation and healthcare services, as well as new legislation and initiatives centered around accessibility.
The market for mobility aids and transportation equipment is anticipated to exhibit robust growth in the coming years, reaching $3.95 billion by 2029 at a compound annual growth rate (CAGR) of 7.2%. This growth during the forecast period can be credited to factors such as personalized mobility solutions, the utilization of advanced materials and designs, implementation of telehealth and remote consultations, and the adoption of aging-in-place solutions. Key trends expected during this forecast period encompass intelligent mobility aids, inventive transportation solutions, sustainable and eco-friendly aids, alongside robot-aided mobility.
What Combination of Drivers Is Leading to Accelerated Growth in the Mobility Aids And Transportation Equipment Market?
The growth of the mobility aids and transportation equipment market will be spurred by the increasing size of the elderly population. The incidence of age-related diseases that impact mobility is high among this demographic, with conditions such as rheumatoid arthritis and osteoporosis being common. The World Health Organisation predicts that the global elderly population will increase from 12% to 22% by 2050, a shift that will drive the expansion of the mobility aids and transportation equipment market.
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Which Companies Are Leading the Charge in Expanding the Mobility Aids And Transportation Equipment Market?
Major companies operating in the mobility aids and transportation equipment market include Medline Industries, Hoveround Corporation, Sunrise Medical LLC, OttoBock Healthcare GmbH, Stryker Corporation, GF Health Products Inc., Invacare Corporation, LEVO AG, Permobil AB, Hill-Rom Holdings Inc., Merivaara Corporation, UpLyft, Mobius Mobility, SitnStand, Authority Medical Group, Ease Seating Systems, Matia Mobility, National Seating & Mobility, Pride Mobility Products Corp., Drive Medical Design & Manufacturing, Quantum Rehab, 21st Century Scientific Inc., Ki Mobility, Colours Wheelchair, Motion Composites, Karman Healthcare, Merits Health Products Co. Ltd., Nova Medical Products, Active Mobility Systems, Convaid Products LLC, R82 Inc.
What Trends Are Poised to Drive the Future Success of the Mobility Aids And Transportation Equipment Market?
Japanese car manufacturers have launched a single-seater autonomous vehicle designed to support individuals who face challenges with walking or utilizing public transportation. This autonomous vehicle can be operated via a smartphone or tablet – simply select a location on the map and the vehicle’s pathfinding system will handle the rest. It is fitted with a navigational system to support travel from one point to another, while a gyro sensor maintains the car’s stability on uneven terrain. Both 2D and 3D laser sensors will be employed to measure the distance from objects, and stereo cameras will identify any hindrances in the car’s way. The car is engineered for easy navigation through city roads, sidewalks, and walkways. The vehicle’s sensors and guidance systems will assist it in maneuvering around irregularities, potholes, and pedestrians.
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How Are the Key Segments of the Mobility Aids And Transportation Equipment Market Driving Opportunities and Innovations?
The mobility aids and transportation equipment market covered in this report is segmented –
1) By Type: Electrically Powered Wheelchairs, Manual Wheelchairs, Walking Aids, Mobility Scooters, Stretchers, Stair Lifts
2) By Age Group: Mobility Aids for Children, Mobility Aids for Elderly
3) By End User: Hospital, Clinic, Household
Subsegments:
1) By Electrically Powered Wheelchairs: Rear-wheel Drive, Front-wheel Drive, Mid-wheel Drive, Standing Wheelchairs
2) By Manual Wheelchairs: Standard Manual Wheelchairs, Lightweight Manual Wheelchairs, Folding Manual Wheelchairs, Rigid Manual Wheelchairs
3) By Walking Aids: Crutches, Canes, Walkers, Rollators
4) By Mobility Scooters: Three-wheeled Mobility Scooters, Four-wheeled Mobility Scooters, Heavy-duty Mobility Scooters
5) By Stretchers: Hydraulic Stretchers, Folding Stretchers, Emergency Stretchers, Bariatric Stretchers
6) By Stair Lifts: Straight Stair Lifts, Curved Stair Lifts, Outdoor Stair Lifts, Platform Lifts
What Are the Top Regions Fueling Growth in the Mobility Aids And Transportation Equipment Market?
Asia-Pacific was the largest region in global mobility aids and transportation equipment market in 2023. North America was the second-largest region in global mobility aids and transportation equipment market. The regions covered in the mobility aids and transportation equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
How Is the Mobility Aids And Transportation Equipment Market Defined Across Different Regions?
Mobility aids and transportation equipment refer to devices and tools designed to assist individuals with physical impairments or limited mobility in moving independently and safely. These tools are essential for enhancing the independence, comfort, and quality of life for people with mobility difficulties, allowing them to move more freely.
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