Mobility Aids And Transportation Equipment Global Market Report 2023

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.

New York, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mobility Aids And Transportation Equipment Global Market Report 2023" - https://www.reportlinker.com/p06277201/?utm_source=GNWThe global mobility aids and transportation equipment market will 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, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The mobility aids and transportation equipment market is expected to grow to $4.12 billion in 2027 at a CAGR of 6.7%.

The mobility aids and transportation equipment market consist of sales of electrically powered wheelchairs, manual wheelchairs, walking aids, mobility scooters, stretchers, and stair lifts.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

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

Asia Pacific was the largest region in mobility aids and transportation equipment market in 2022.North America was the second-largest region in 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, the Middle East, and Africa.

The main types of mobility aids and transportation equipment are electrically powered wheelchairs, manual wheelchairs, walking aids, mobility scooters, stretchers, and stair lifts.A walking aid is one of the devices a patient issued to improve their walking pattern, balance, or safety while mobilizing independently.

The age group involved are mobility aids for children and mobility aids for the elderly. The various end-users are hospitals, clinics, and households.

A large aging population will give an impetus to the mobility aids & transportation equipment market.Elderly populations suffer from age-related diseases resulting in impaired mobility.

The risk from rheumatoid arthritis and osteoporosis is more in the geriatric population. According to WHO, the worldwide geriatric population will double by 2050 from 12% to 22%, propelling the mobility aids & transportation equipment market growth.

Insurance companies have attempted to control the costs of health care by shifting more of the responsibility to the individual.In In 2020, the out-of-pocket has increased maximum to $8,200 for individual plans and $16,400 for family plans.

Insurance companies are attempting to discourage overuse by making subscribers more price-sensitive through high deductibles, co-pays, and co-insurance (the portion of the health care bill for which the subscriber is responsible after the deductibles have been met).

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.

The Australian Road Rules (ARRs) regulate the use of ’motorized wheelchairs’ on roads or road-related areas such as footpaths.A motorized wheelchair, which is not able to travel faster than 10 km/h on level ground, is recognized under the ARRs as a pedestrian.

This means that users are subject to the general road rules applied to pedestrians. A motorized wheelchair that can travel faster than 10 km/h on level ground is treated as a vehicle, which means that the person using the device is treated as a driver, who is subject to all of the road rules applying to drivers of vehicles.

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 countries covered in the mobility aids and transportation equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The mobility aids and transportation equipment market research report is one of a series of new reports that provides mobility aids and transportation equipment market statistics, including mobility aids and transportation equipment industry global market size, regional shares, competitors with a mobility aids and transportation equipment market share, detailed mobility aids and transportation equipment market segments, market trends and opportunities, and any further data you may need to thrive in the mobility aids and transportation equipment industry. This mobility aids and transportation equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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