Personal Mobility Devices Market Size, Share, Growth Analysis, By Product Type (Walking Aids, Mobility Scooters), By Price Range (Premium, Low-Cost), By End User (Hospitals & Clinics, Long-term Care Centers), By Sales Channel (Online Channel, Offline Channel), By Region - Industry Forecast 2024-2031

Drivers

Addressing Mobility Challenges Amidst the Growing Elderly Population

• A major consideration for the private mobility sector is the global rise in elderly population density, particularly in North America, Europe and Asia-Pacific regions. With the increasing number of aging adults, diseases associated with old age such as osteoporosis, arthritis and other movement-related problems are likely to also increase.

Innovations in Personal Mobility Equipment Fuel Market Growth

• The market is growing at a substantial rate due to innovations in personal mobility equipment like foldable scooters, electric wheelchairs, and smart mobility aids with GPS and health monitoring systems. This unsurprisingly led to an increase in cases of arthritis, osteoporosis among other diseases which affect mobility, due to the rising population of elderly people.

Restraints

Lack of Awareness and Accessibility

• There is a dearth of knowledge about the advantages of the many mobility options in many places, especially in low-income and rural communities. Moreover, insufficient distribution networks pose a great challenge on the part of individuals to access mobility devices thus hindering market growth.

Stigma and Social Barriers

• Individuals may be deterred from acquiring personal mobility devices by societal attitudes and cultural stigma around the use of mobility aids and disabilities. Even though there are solutions available, utilizing such gadgets could be seen as a sign of weakness in some civilizations. As a result, demand might be lower.