Ageing Population and its Impact on Mobility Aids and Transportation Equipment Market.
Mobility aids and transportation equipment provide user with the ability to either move or be moved freely and easily than they can without it. Mobility aids like wheelchairs, crutches, walkers, mobility scooters and many others are frequently used by the people with disability. However, the general term mobility aid also cover lower value products which help with lack of mobility brought on by conditions like arthritis. These mobility aids include gadgets that helps to get lids off of bottles and jars, products to help the user when using the loo or help them to retrieve items from the floor or hard to reach places; these products are generally called reacher or grabber.
According to ‘The Survey of Disability Ageing and Carers’ conducted in Australia in 2012, 93% of the older people with disability have physical disability and out of these 42% people needed assistance with day to day activities; 18% of which were mobility tasks. The use of these products is increasing with the increasing old age population. According to a latest study conducted by IndustryARC the global market for mobility aids and transportation equipment is forecast to grow at a CAGR of 5.6% through 2016 to 2021 and reach annual revenue of $7.8 billion by 2021.
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