Biomedical health is an important factor looming over us globally. According to WHO, almost 15% of the global population have some form of disability which covers over more than a billion people all over the world. A rise in increasing life expectancy globally has been considered by the United Nations to be one of the major reasons behind an incrementing risk of disability since old people are at a higher risk in this aspect. However, some people are born with disabilities that make them immobile.
A personal mobility device or a PMD is one such product that has been manufactured over the years to improve the mobility of the aged, the disabled and anyone who needs help.
For example, mobility scooters, wheelchairs, walking aids, etc. are some of the most used personal mobility devices in the market.
Back in 2020, the market size of the Personal Mobility Devices globally was found to be at 11.5 billion dollars with an expected CAGR or compound annual growth rate of about 5-6% in the forecast period of the Industry.
The most important factor behind the growth of this market is a steady and steep rise in chronic diseases around the world, the life expectancy of the population, and consequently the rising geriatric population globally. WHO had prepared a report a few years back, in which the rise of the geriatric population was expected to be 16% by 2050. It has also been found that the number of people suffering from chronic arthritis might grow up to 36.4 million by 2040. These anticipated reports testify that the personal mobility device Industry is here to stay and expand.
Now if we delve deeper into the product insights of the different Personal Mobility Devices in the market, it would be observed from market trends that more than 40% of the industry’s revenues are generated from wheelchairs alone.
Wheelchairs are an embodiment of mobility for many patients around the globe and it is expected to be the leading product among the personal mobility devices in the next five to six years. Data produced by a company, K.D Smart Chair, has shown that there are over 3.3 million wheelchair users in the USA alone and over 2millon users are added annually. Today there are both manual and powered wheelchairs in the category of Personal Mobility Devices for the betterment of patients.
Some of the major companies which dominate the production and service in the Personal Mobility Device Industry are GF Health Products Inc., Medline Industries Inc., Nova Medical Products, Drive DeVilbiss Healthcare, etc.
Other than wheelchairs there are walking aids such as canes, crutches, premium rollators with laser aids even for Alzheimer patients, and walkers. Electric scooters are yet another type of personal mobility device in the market. Apart from its commercial success and ever-increasing revenues generated annually, companies must continue to work by remembering the philanthropic approach and purport of these personal mobility device products are to improve not only mobility but also the quality of life of innumerable patients globally.
