Elderly Mobility Vehicle Market Share

On the basis of geographical analysis, the global elderly mobility vehicle market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific is anticipated to hold largest revenue share by 2037, on the back of rapidly growing elderly population, and increasing investments to develop premium-quality mobility assistive vehicles in the region.

North America Market Analysis

Moreover, the elderly mobility vehicle market in North America is projected to acquire the largest share during the forecast period, which can be credited to the rising awareness levels associated with advanced mobility devices, and high healthcare spending in the region. As per the Centers for Medicaid and Medicaid Services, U.S. health care spending grew 4.6 percent in 2019, reaching USD 3.8 trillion or USD 11,582 per person. In addition, strong footprint of market players in the region is also anticipated to bolster market growth in the coming years.

Frequently Asked Questions (FAQ)

Elderly Mobility Vehicle Market size is projected to witness lucrative growth rate during the forecast period i.e., between 2025-2037.

The market growth is driven by rapidly increasing geriatric population around the world, and rising technological advancements in the healthcare sector.

Asia Pacific industry is estimated to hold largest revenue share by 2037, on the back of rapidly growing elderly population, and increasing investments to develop premium-quality mobility assistive vehicles in the region.

The major players in the market are Medical Depot, Inc., Invacare Corporation, Van Os Medical B.V., Pride Mobility Products Corp., Amigo Mobility International, and others.

Elderly Mobility Vehicle Market Share