U.S. Mobility aids and Transportation Equipment Market - Forecast(2024 - 2030)

U.S. Mobility aids and Transportation Equipment Market Segment Analysis-By Mobility Products

The U.S. Mobility aids and Transportation Equipment Market based on the mobility products type can be further segmented into manual wheelchairs, electric wheelchairs, stairlifts, Others. The manual wheelchair segment held the largest share in 2021. Manual wheelchairs are in high demand owing to their cost, lightweight, and lack of reliance on charging. They also come in a range of configurations and weights, ranging from standard to ultra-lightweight, and take up little room owing to the fact that many of the models are foldable. However, Electric wheelchairs are the fastest-growing segment by Product Type with a CAGR of 8.3% during the forecast period of 2020-2026. Electric wheelchairs give the user more independence owing to their ease of use and ability to travel greater distances without becoming fatigued. These wheelchairs are perfect for people who don't have much upper-body power. Owing to the availability of advanced healthcare facilities in industrialized countries like as the United States, electric wheelchairs are more popular. Innovation in technology has made electric mobility devices so well-rounded that they can even climb stairs. Moreover, indoor and outdoor suitability is another big factor boosting their demand.

U.S. Mobility aids and Transportation Equipment Market Segment Analysis-By Age Group

The U.S. Mobility aids and Transportation Equipment Market based on age group can be further segmented into children, adults, and elderly. The elderly segment held the largest share in 2021. A certain faction of adults and even children are suffering from physical disability in America but they are highly outnumbered by the old-age population. With growing age immunity start to dwindle and life-threatening complications like cancer grip the body. Osteoarthritis complications, impaired hearing, and vision, depression, dementia become everyday companions. A report suggests that people are aging above 65 years account for more than 60-70% of all cancer cases in the US. Similarly, the elderly segment is estimated to be the fastest-growing with a CAGR of 4.9% over the forecast period 2022-2027. This growth is owing to the growing geriatric population. Around 16.5% of the American population is aging above 65 and the number is anticipated to elevate and reach 22% by the year 2050.

U.S. Mobility aids and Transportation Equipment Market Drivers

Augmenting old-age population and cardiovascular diseases are Anticipated to Boost Product Demand. 

There is a quote that goes like “Don’t regret growing older as it is a privilege denied to many.” These fancy lines are good to listen but hard to implement. No one can have the beauty of youth forever as old age is the inevitable truth of life. This phase of life brings suffering and several health complications with it. Therefore, the swift intensification in the faction of people aged above 65 years is proving to be a big driver in the growth of the U.S. mobility aids and transportation equipment market. A report by the US census bureau claims that there are 16.8-17% that is 54 million people are aging above 65 as of 2021. Also, the number will expand up to 22% in 2050. On another hand, cardiovascular diseases are the reason behind the demise of 650,000 Americans every year.

Rising injuries attributed to sports, gun violence, and road accidents are Expected to Boost Product Demand.

Relentless upsurge in trends of gun violence in the US is another major driver behind the growth of the aforementioned market. This escalating pace is attributed to several protests against racism and government. The daily death count due to gun shootings had elevated to 58 people last year. Moreover, 8,100 lost their lives in the first 4-5 months of 2021. Besides, sports injuries and road accidents are the major reason for the growing demand for mobility devices. According to a report, every year road accidents claim the lives of around 35,000-40,000 Americans, and over 4 million are hospitalized.

U.S. Mobility aids and Transportation Equipment Market Challenges

Reduced purchasing capacity due to COVID-19 and extortionate price of mobility devices is Anticipated to Hamper Market Growth.