Mobility Aids And Transportation Equipment Global Market Report 2024

The mobility aids and transportation equipment market size has grown strongly in recent years. It will grow from $3.23 billion in 2023 to $3.49 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed during the historic period in the field of mobility aids and transportation equipment can be attributed to several key factors, including the aging population, an increase in medical conditions and disabilities, the expansion of rehabilitation and healthcare services, and legislative and accessibility initiatives aimed at improving the mobility and quality of life for individuals with mobility challenges.

The mobility aids and transportation equipment market size is expected to see strong growth in the next few years. It will grow to $4.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The expected growth in the forecast period in the realm of mobility aids and transportation equipment can be attributed to various factors, including the development of personalized mobility solutions, the use of advanced materials and innovative designs, the integration of telehealth and remote consultations, and the increasing demand for aging-in-place solutions. Noteworthy trends anticipated during the forecast period include the adoption of smart mobility aids, the introduction of innovative transportation solutions, the focus on sustainable and eco-friendly mobility aids, and the utilization of robot-assisted mobility technologies to enhance the quality of life and mobility for individuals with various needs.

The mobility aids and transportation equipment market is expected to receive a significant boost from the presence of a large aging population. Older individuals often contend with age-related conditions that can limit their mobility. The risk of conditions like rheumatoid arthritis and osteoporosis is higher among the elderly. According to the World Health Organization (WHO), the global geriatric population is projected to double by 2050, increasing from 12% to 22% of the total population. This demographic shift is set to drive the growth of the mobility aids and transportation equipment market.

The primary categories of mobility aids and transportation equipment include electrically powered wheelchairs, manual wheelchairs, walking aids, mobility scooters, stretchers, and stair lifts. Walking aids are devices provided to patients to enhance their walking pattern, balance, or safety, enabling them to mobilize more independently. These aids cater to a range of age groups, including mobility aids designed for children and those tailored for the elderly. Various end-users of these devices can be found in settings such as hospitals, clinics, and households.

The mobility aids and transportation equipment market research report is one of a series of new reports that provides mobility aids and transportation equipment market statistics, including mobility aids and transportation equipment industry global market size, regional shares, competitors with a mobility aids and transportation equipment market share, detailed mobility aids and transportation equipment market segments, market trends and opportunities, and any further data you may need to thrive in the mobility aids and transportation equipment industry. This mobility aids and transportation equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing prevalence of disability cases is anticipated to be a key driver of the mobility aids and transportation equipment market in the coming years. Disabilities encompass a range of physical, mental, sensory, or cognitive impairments that can significantly hinder an individual's ability to carry out everyday tasks or fully engage in society. Mobility aids and transportation equipment play a vital role in enhancing the mobility and independence of people with disabilities. These devices are specifically designed to facilitate easier movement, provide access to transportation, and enable participation in various activities. For example, a report by the World Health Organization in March 2023 indicated that an estimated 1.3 billion people worldwide have experienced significant disabilities, which accounts for 16% of the global population or 1 in 6 people. As a result, the growing prevalence of disability cases is propelling the growth of the mobility aids and transportation equipment market.

The insurance companies have been striving to curb healthcare costs by shifting more financial responsibility onto individuals. In 2022, the out-of-pocket maximum for individual insurance plans reached $8,700, with family plans at $17,400. By implementing high deductibles, co-pays, and co-insurance (the portion of healthcare expenses for which subscribers are responsible after meeting their deductibles), insurance providers aim to discourage overutilization of healthcare services and make subscribers more price-conscious.

The Japanese automakers have introduced a single-seat self-driving car designed to assist individuals who face difficulties in walking or using public transportation. This self-driving vehicle is smartphone or tablet-enabled, allowing users to select their destination on a map, with the car's navigation system taking care of the rest. Equipped with gyro sensors to maintain stability on uneven surfaces, 2D and 3D laser sensors for gauging distances from objects, and stereo cameras for obstacle detection, the car can adeptly navigate city streets, sidewalks, and footpaths. Sensors and guidance systems enable the vehicle to navigate around obstacles like bumps, potholes, and pedestrians.

Major companies in the mobility aids and transportation equipment market are actively developing innovative products, such as the Ultra-Lite 2 electric wheelchair. This product caters to the growing demand for lightweight and portable electric wheelchairs, offering users enhanced comfort and support. The Ultra-Lite 2 electric wheelchair is designed for convenience and affordability, featuring a comfortable and ergonomic seat, customizable armrests and backrest, a foldable footrest for added comfort, a handy front basket, integrated headlights and taillights for improved visibility, and a USB charging port for mobile devices. Its ease of folding and unfolding, along with quick disassembly for transport, adds to its user-friendly design.

In June 2021, a group of private equity firms joined forces to acquire Medline in a deal worth a substantial $34 billion. This strategic acquisition was undertaken with the objective of expediting the company's international expansion efforts and bolstering its global supply chain. Medline, a healthcare company based in the United States, serves as the focal point of this investment and growth initiative.

Major companies operating in the mobility aids and transportation equipment market include Medline Industries, Hoveround Corporation, Sunrise Medical LLC, OttoBock Healthcare GmbH, Stryker Corporation, GF Health Products Inc., Invacare Corporation, LEVO AG, Permobil AB, Hill-Rom Holdings Inc., Merivaara Corporation, UpLyft, Mobius Mobility, SitnStand, Authority Medical Group, Ease Seating Systems, Matia Mobility, National Seating & Mobility, Pride Mobility Products Corp., Drive Medical Design & Manufacturing, Quantum Rehab, 21st Century Scientific Inc., Ki Mobility, Colours Wheelchair, Motion Composites, Karman Healthcare, Merits Health Products Co. Ltd., Nova Medical Products, Active Mobility Systems, Convaid Products LLC, R82 Inc.

Asia-Pacific was the largest region in global mobility aids and transportation equipment market in 2023. North America was the second-largest region in global mobility aids and transportation equipment market. The regions covered in the mobility aids and transportation equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the mobility aids and transportation equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The mobility aids and transportation equipment market consist of sales of electrically powered wheelchairs, manual wheelchairs, walking aids, mobility scooters, stretchers, and stair lifts. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.