According to the new market research report by IndustryARC titled “Mobility Aids and Transportation Equipment Market Analysis: By Type (Wheelchairs, Walking Aids, Mobility Scooters, Stair Lifts); By Age Group (Children, Elderly); By User (Hospital, Clinics, Patients) - By Geography - Forecast(2018-2023)”, the market is projected to register significant growth due to advancements in the medical equipment technology.
The market revenue for Mobility Aid and Transportation Equipment is forecast to increase from $6.318 billion in 2017 to $8.616 billion in 2023, growing at a CAGR of 5.6%. The increase in global aging population, technological advancements in the medical industry and the increasing number of old age homes are driving the market for such equipment. The dominant end user for this market is the patient's segment. It held the highest share of $3.369 billion in 2017 and is projected to reach $4.671 billion by 2013 at 5.9% CAGR.

Americas continues to lead the market share during 2018-2023.
Americas held the major market share of $3.327 billion in the year 2017 and is estimated to hold $3.942 billion during the entire forecast duration 2018-2023. The prominent countries considered under this region include Canada, the U.S. and Brazil. Increasing investment and development in the healthcare sector of this region is driving the market of mobility aids and transportation equipment. Moreover, awareness and a hike in sports activities of disabled people are fueling the mobility aid and transportation equipment market in this region. In the Americas, Manual wheelchairs held a maximum market share of $1.441 billion but motorized wheelchairs are forecast to soar at a CAGR of 5.4% during the forecast period 2018 to 2023.
Asia-Pacific is projected to register the fastest growth rate of 12.4% CAGR, followed by Europe and the Americas.

Selected / Sample Analysis done in the full Report:
  • End users in this market have been classified based on the type of places in which these devices are utilized. The various end users include hospitals, clinics and patients.
  • Patients or self-use segment dominated the market by capturing 53% of the market share. This market will continue to be the market leader in the forecast period.
  • Patent analysis of Mobility Aids and Transportation Equipment Market was conducted to analyze the developments being carried out in the market, thereby reflecting the growth of the same during the period.
  • Wheelchairs and walking aids segments recorded the maximum number of patents.
  • 63% of the patents were filed by independent researchers.
  • Stryker Corporation, Sunrise Medicals, Acron Mobility Services Limited and Equos Research Co. Ltd has invested substantially in the R&D to develop solutions that can create product differentiation in the Mobility Aid and Transportation Equipment market.
  • The Mobility Aids and Transportation Equipment market witnessed a remarkable surge in the number of patents filed due to the increasing government spending in the healthcare segment and growing demand for self-care products for disabled people.
  • The number of patents filed in the Mobility Aids and Transportation Equipment market drastically escalated on the back of increasing demand of advanced healthcare products by growing the aging population.
  • The individual patient segment accounted for the highest demand and the majority of the patents were registered for wheelchairs.
Talk to one of our sales representative about the full report by providing your details in the below link:
https://www.industryarc.com/support.php?id=7378

Excerpts on Market Growth Factors Mentioned in the Full Report:
  • The increasing elderly population, growing illness, accidents and disabilities is driving the mobility aids and transportation equipment market.
  • The treatment and operation in the clinics and ASCS ensure high safety and accuracy. Hence, the demand of these clinics is rising. This factor is driving the use of mobility aids and transportation equipment.
  • The increasing rate of road traffic accidents in the Asia-Pacific region is projected to drive the demand for mobility aids and transportation equipment and in turn reflecting on the market growth.
Key Players of the Mobility Aids and Transportation Equipment Market:
The key players of the Mobility Aids and Transportation Equipment market are Sunrise Medicals GmbH & Co., Invacare Corporation, Stryker Corporation, Medline Industries Inc. and Drive Medical. Sunrise Medicals GmbH & Co. is the top leading player, it has invested substantially in the R&D to develop solutions that can create product differentiation in the Mobility Aid and Transportation Equipment market. Invacare Corporation, Sunrise Medicals and GF Healthcare launched the maximum number of products during the period. Also, Invacare manufactures a broad spectrum of mobility aids and transportation equipment under all the business segments.

Related Reports                                              
A.    Artificial Lift System Market
https://www.industryarc.com/Report/10607/artificial-lift-systems-market.html

B.    Medical Robotics Market
https://www.industryarc.com/Report/2331/Medical-Robotics-Market-Research-Report.html

Media Contact:
Mr. Venkat Reddy
Sales Manager           
Email : [email protected]
Contact Sales: +1-614-588-8538 (Ext-101)

About IndustryARC:

IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.