Ageing Population and its Impact on Mobility Aids and Transportation Equipment Market.

Published By: IndustryARC Published On : 28-Apr-2016

The greatest achievement of the twentieth century is the drastic increase in the average life of humans. The life expectancy of people in the U.S. has increased to 76.3 years in 2011 from 59.12 years in 1941. The life expectancy increased due to a number of factors that includes improvement in public health, more emphasis of vaccination and antibiotics, nutrition and other medicines. The increase in life expectancy and lower birth rates has created an alarming situation in most of the countries with regards to medical care, food spending, urban spaces and overall population management. However, this condition has turned out favorable for the 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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