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 2036, 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 2024-2036.

The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022 â€“ 2030.

North America is expected to dominate industry share of 48% by 2036, led by rising concern for the increasing prevalence of chronic disease, along with presence of a strong healthcare network in the region.

The major players in the market are Teleflex Incorporated, Hollister Incorporated, Amsino International, Inc., Boston Scientific Corporation, B. Braun Melsungen AG, Medline Industries, Inc., and others.

Elderly Mobility Vehicle Market Share