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31 Jan, 2022, 14:15 GMT
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– An increase in the target population, increasing product growth, and an increase in the number of incidents resulting in disabilities are some of the key factors driving the demand for Mobility Aid Devices Market.
JERSEY CITY, N.J., Jan. 31, 2022 /PRNewswire/ — Verified Market Research recently published a report, "Mobility Aid Devices Market" By Type (Wheelchairs, Mobility Scooters, Walking Aids), By End User (Personal User, Institutional User), and By Geography. According to Verified Market Research, the Global Mobility Aid Devices Market size was valued at USD 7.80 Billion in 2020 and is projected to reach USD 9.93 Billion by 2028, growing at a CAGR of 3.06% from 2021 to 2028.
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Browse in-depth TOC on "Mobility Aid Devices Market"
202 – Pages
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37 – Figures
Global Mobility Aid Devices Market Overview
The global incidence of chronic diseases and the expanding elderly population are also driving market expansion. Favorable reimbursement policies for both purchased and leased devices are expected to drive demand. Only a few mobility devices are covered by Medicare Part B, such as walkers, wheelchairs, canes, and crutches.
A patient will be responsible for paying 20% of the prescription cost out of pocket, with Medicare covering the remaining 80%. Assistive technologies make everyday tasks easier to do. The demand for assistive mobility aids has grown as individuals have lived longer. Furthermore, economic growth and an increase in the usage of technologically upgraded products such as advanced powered wheelchairs for activities are likely to boost the worldwide Mobility Aid Devices Market during the forecast period. In order to continue with their everyday activities after an accident, surgery, or another medical condition, people need mobility aid medical equipment. These devices allow patients to be more self-sufficient and mobile, boosting market growth throughout the forecast period. However, the high costs of mobility aid devices are restraining the growth of the market.
The major players in the market are Drive DeVilbiss Healthcare, GF Health Products, Inc., Invacare Corporation, Kaye Products, Inc., Medline Industries, Inc., NOVA Medical Products, Performance Health, Rollz International, TOPRO, and Human Care Group.
Verified Market Research has segmented the Global Mobility Aid Devices Market On the basis of Type, End User, and Geography.
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