The global Mobility aids and transportation Market is estimated to surpass $6318 million by 2023 growing at an estimated CAGR of more than 5.6% during 2018 to 2023. The advancements in medical equipment technology and increasing number of old age homes are driving this market. The major share of market is dominated by manual wheel chairs followed by walking aids valued at $3180 million and $1149.8 anticipated to grow at a CAGR 5.4% and 4.3% during 2018 to 2023.
What is Mobility Aids and transportation?
Mobility aids are equipment that is used to assist people with walking disabilities or to improve the mobility of people with any kind of mobility impairment. Transportation equipment in the healthcare sectors are used to carry patients from one place to another. This equipment is less bulky, highly sophisticated and diverse in attributes.
What are the major applications for mobility aids and transportation?
The various end users assessed include hospitals, clinics, residential and others. Mobility aids such as wheel chairs, single stick, crutches, wheeled walker, and many other are used in hospitals to improve the functioning of disabled patients and equipment such as forearm and underarm crutches are used as leg supporting equipment for transferring of patients from one place to other. The equipment such as stair lifts, knee walkers, and normal walkers will assist the patients to do normal activities such as walking, stairs climbing and other daily activities in their home.
Market Research and Market Trends of Mobility aids and transportation
- A new device known as Eye cane has been launched which can serve as both primary and secondary mobility aid for blind people to avoid waist up obstacles. Previously, there is only white cane which protects only lower body and upper body is left vulnerable to collisions with many obstacles. Hence this Eye cane can reduce the problem as it uses the components that translate distance into sound and vibrations within range of 16 feet.
- Stair lifts are also provided with backup batteries to solve the issues with the backup batteries the machine sensors are connected to the UPS and a wireless connection through an IoT network detects the fault in the battery and send a notification to the Patient through SMS or email allowing them to react quickly.
- Many patents have been registered for these devices resulting from huge R & D investments by companies which are enhancing the market growth. Recently a patent has been registered on a walker standing assist device that supports the user of a walker or a wheeled mobility device to stand or arise from a seated position. It can be attached to different walkers to facilitate the individual's ability to change from a sitting to a standing and walking mode
- The iWalker is an ambulatory monitoring tool created to continuously measure the stabilizing forces applied through the rollator, distances traveled, instantaneous walking speed and accelerations. A machine vision system captures features of the immediate physical environment such as obstacles, terrain changes, and lighting, precipitation, and foot placements.
Who are the Major Players in Mobility Aids and Transportation Market?
The companies referred in the market research report include the 3M company, Gojo Industries, Lion corporation, Medline Industries, and others.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
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Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
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- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
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