The global personal mobility devices market size surpassed USD 11.35 billion in 2023 and is projected to cross 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 diverse range of products designed to enhance mobility and independence for individuals with disabilities or limited mobility. These devices include wheelchairs, mobility scooters, walking aids, and other assistive technologies. The market has witnessed significant growth in recent years due to increasing awareness about accessibility rights, technological advancements, and an aging population worldwide.
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Growth Factors
Several factors contribute to the growth of the personal mobility devices market. These include rising prevalence of disabilities and chronic conditions such as arthritis and neurological disorders, which necessitate the use of mobility aids. Additionally, advancements in technology have led to the development of more innovative and user-friendly devices, enhancing mobility and quality of life for users. Moreover, government initiatives and policies aimed at improving accessibility and inclusion further drive market growth.
Region Insights
The personal mobility devices market exhibits variation in demand and adoption rates across different regions. Developed regions such as North America and Europe have a higher penetration of advanced mobility devices due to better healthcare infrastructure, higher disposable income levels, and supportive government regulations. In contrast, emerging economies in Asia-Pacific and Latin America are witnessing rapid growth driven by increasing awareness, improving healthcare infrastructure, and rising geriatric population.
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:
Several drivers propel the growth of the personal mobility devices market. These include demographic trends such as an aging population and increasing prevalence of chronic conditions. Additionally, advancements in materials, design, and technology have led to the development of lighter, more durable, and feature-rich mobility devices, enhancing user comfort and convenience. Furthermore, expanding healthcare coverage and reimbursement policies for assistive devices contribute to market growth.
Opportunities:
The personal mobility devices market presents numerous opportunities for manufacturers and stakeholders. These include expanding product portfolios to cater to diverse user needs and preferences, especially in emerging markets. Moreover, investing in research and development to innovate new technologies and features can help companies gain a competitive edge. Furthermore, strategic partnerships and collaborations with healthcare providers and government agencies can facilitate market expansion and penetration.
Challenges:
Despite the growth prospects, the personal mobility devices market faces several challenges. These include affordability and accessibility issues, particularly in low-income regions where individuals may struggle to afford expensive assistive devices. Additionally, regulatory compliance and certification requirements can pose challenges for manufacturers, especially in international markets. Furthermore, stigma and social barriers associated with disability may hinder the adoption of mobility aids in some societies.
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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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