San Francisco, Jan. 25, 2016 (GLOBE NEWSWIRE) -- Global Personal Mobility Devices Market is expected to reach USD 8.0 billion by 2020. Increasing geriatric population base and prevalence of target diseases are some key factors expected to drive market growth during the forecast period. Aging heightens the susceptibility of a person towards developing target diseases such as osteoporosis and rheumatoid arthritis. Therefore, a growing geriatric population base is expected to widen the patient base for manufacturers. Additionally, presence of supportive government initiatives aimed at strengthening reimbursement frameworks and growing R&D investments for new product development is expected to propel market growth over the next six years.
Browse Full Research Report With TOC On "Personal Mobility Devices Market Analysis By Product (Wheelchairs, Scooters, Walking Aids, Canes, Crutches, Walkers, Premium Rollators, Low Cost Rollators) And Segment Forecasts To 2020" at: http://www.radiantinsights.com/research/personal-mobility-devices-market-analysis-by-product-wheelchairs-scooters-walking-aids-canes-crutches-walkers-premium-rollators-low-cost-rollators-and-segment-forecasts-to-2020
Further key findings from the study suggest:
- Wheelchairs were the largest selling product segment in 2013. Growing demand for powered wheelchairs especially in the developed countries is expected to drive segment growth during the forecast period.
- Premium rollators are identified as the most lucrative segment of this market. Manufacturers of these rollators capitalize on the unmet needs of patients. Features such as enhanced height, ability to handle heavy weight patients, handle adjustment mechanism are expected to enhance penetration rates. The introduction of specialized devices such as rollators with laser attachment for patients suffering from Parkinson's is also expected to drive segment growth during the forecast period. These devices are expected to witness a rapid rise in demand in developed markets with patients holding high disposable income and awareness levels.
- North America was the most matured regional personal mobility devices market in 2013. The region was the largest revenue generating market, accounting for over 35.0% of revenue in the year. Presence of supportive government policies, sophisticated healthcare infrastructure and growing geriatric population base are some factors attributing to its large share.
- Asia Pacific is expected to grow at a lucrative growth rate during the forecast period. This region, owing to a growing geriatric population base, increasing disposable income and awareness levels is expected to witness a rapid gain in demand over the next six years.
- Some key players of the personal mobility devices market include Drive Medical Design & Manufacturing, Electric Mobility, Sunrise Medical, Pride mobility, Briggs Healthcare, Kaye Products, Nova, Patterson Medical, Eurovema AB, Graham-Field Health Products Incorporation, Invacare and TOPRO
- Developing technologically advanced personal mobility devices via extensive R&D investments and entering into strategic alliances with buyers are some key sustainability strategies adopted by these market players.
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Global Personal Mobility Devices Product Outlook (Revenue, USD Million, 2012 - 2020)
- Mobility aids
- Low cost
- Other Walking aids (canes, crutches, walkers)
Personal Mobility Devices Regional Outlook (Revenue, USD Billion, 2012 - 2020)
- North America
- Asia Pacific
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