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Reducing Cost of Assistive Technologies with Insurance Boosts Market for Mobility Devices

Press Release   •   Jan 12, 2017 23:23 EST

Personal mobility devices such as wheelchairs, mobility scooters, and stair lifts have witnessed significant growth in revenue and volume in the past few years. A personal mobility device is either a manual or battery powered device used by an individual with mobility disabilities. A personal mobility device is designed for use by a single person. Increase in demand for personal mobility devices among the geriatric population, rise in incidence of osteoporosis and rheumatoid arthritis, supportive government initiatives for reimbursement frameworks, rise in disposable income, technological advancement, and growing disabled population across the globe are the factors likely to drive the personal mobility devices market. However, high product pricing and low acceptance level due to social stigma are anticipated to hamper the growth of the personal mobility devices market.

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The executive summary of the report comprises a market snapshot of the global personal mobility devices market and comparative analysis by geography in terms of value % for 2015 and 2024. Based on device type, the global personal mobility devices market has been segmented into medical mobility aids and ambulatory devices, and medical furniture and bathroom safety products. The medical mobility and ambulatory devices segment has been sub-segmented into wheelchairs, mobility scooters, canes, crutches, and walkers.

The medical furniture and bathroom safety products segment has been sub-segmented into patient lifts, stair lifts, medical beds, bars and railings, and commodes and showers. Market revenue analysis of all the segments mentioned above has been provided for the forecast period from 2014 to 2024, considering 2015 as the base year and 2014 as historic year. The executive summary also comprises major drivers and restraints along with key trends likely to drive the growth of the personal mobility devices market.

The market overview section of the personal mobility devices market report analyzes the market dynamics and trends such as drivers, restraints, and opportunities that influence the current and future status of the global personal mobility devices market. Impact factors such as market attractiveness analysis by geography and Porter’s Five Forces Analysis (bargaining power of suppliers, bargaining power of buyers, threat of new entrants, threat of substitutes, and competitive rivalry) of the global personal mobility devices market have been provided in this section of the report. In addition, market share analysis by key players (value %) for the year 2015 has also been included in the market overview section in order to provide a thorough analysis of the overall competitive scenario in the global personal mobility devices market. Furthermore, the report includes value chain analysis for personal mobility devices.

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Geographically, the global personal mobility devices market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Each regional market has been further segmented into major countries contributing to the personal mobility devices market. The study further offers recommendations for the personal mobility devices market, which would be useful for existing and new players to sustain and grow in the market.

The personal mobility devices market report concludes with the company profiles section that includes key information in terms of company overview, financial information, product portfolio, business strategies, and recent development about the major players operating in the personal mobility devices market. Key players in the global personal mobility devices market include Amigo Mobility International, Inc., Argo Medical, ArjoHuntleigh, Drive Medical, GF Health Products, Inc., Hill-Rom Holdings, Inc., Invacare Corporation, Ottobock Healthcare, Patterson Companies, Inc., Stryker Corporation, Permobil AB, Pride Mobility Products Corporation, and Sunrise Medical LLC.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.