Mobility Aid Devices Market size was valued at USD 9.81 billion in 2024 and is anticipated to cross USD 17.87 billion by the end of 2037, expanding at more than 5.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of mobility aid devices is estimated at USD 10.22 billion. The market is estimated to grow on the back of the surging prevalence of chronic diseases, such as cardiovascular diseases along with the rising number of people that are suffering from physical functioning. As per the world health organization, cardiovascular diseases claimed the lives of 17.9 million individuals worldwide in 2019, accounting for 32% of all deaths.
Consumers increasingly favor high-tech goods like smart chairs, and powered vehicles that can be operated by power buttons or mobile applications. People's preference for improved and innovative mobility goods is influenced by their higher disposable income. For instance, the AT2030 program of Clinton Health Access estimates that in high-income countries like the United States, Canada, and China, 90% of people with disabilities have access to wheelchairs.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.3% |
|
Base Year Market Size (2024) |
USD 9.81 billion |
|
Forecast Year Market Size (2037) |
USD 17.87 billion |
|
Regional Scope |
|
Product (Wheelchairs, Mobility Scooters, Walking Aids, Mobility Lift)
The wheelchairs segment is expected to have about 45% of the global mobility aid devices market share during the forecast period. Wheelchairs are used as assistance equipment by people who have problems moving about owing to physical limitations, or aging issues. Wheelchairs come in a range of designs, including manual, powdered, and sporting wheelchairs, to promote movement and freedom. They are among the most popular mobility aids. Due to the rising number of people with impairments, their use is growing, resulting in a growing demand for wheelchairs. For instance, the CDC estimates that due to mobility issues, 13.7% of American adults have severe difficulty walking or climbing stairs.
End - User (Hospitals, Ambulatory Surgical Centers, Diagnostic Imaging Centers, Academic & Research Institutes)
The hospital segment is anticipated to hold 28% share of the global mobility aid devices market by the end of 2037. This growth can be propelled by the growing patient population that needs hospital care and the rising cost of healthcare per person. Moreover, the hospital sector has better infrastructure that provides advanced levels of facilities to the patients. According to the World Bank, health spending made up 9.83% of global GDP in 2019.
Our in-depth analysis of the global mobility aid devices market includes the following segments:
|
Product |
|
|
End - User |
|
North American Market Forecast
The North America mobility aid devices market is projected to hold about 35% of the revenue share by the end of 2037. The region is home to some of the greatest manufacturers of mobility aids, which supports the growth of the sector. Along with major investments in health and welfare, North America has manufactured cutting-edge and user-friendly mobility aids to meet the needs of those who have mobility challenges. The United States spent over USD 3.5 trillion on health care overall in 2020, and it is predicted that this amount will rise to USD 6 trillion by the end of 2028.
APAC Market Statistics
The mobility aid devices market in the Asia Pacific is also projected to have about 28% market share. With the attractive reimbursement regulations for purchasing or renting services, the market is expected to grow quickly throughout the forecast period in the region. Moreover, the rising number of accidents in the Asia-Pacific region is increasing the requirement for mobility aid devices for injured people. As per the Asian Development Bank, every year in Asia and the Pacific accounts for nearly 645,000 road accidents.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?