Mobility assisting devices include walkers, wheelchairs, rigid support devices, electric lift chairs among other technologies. Walking sticks and crutches are the most common form of mobility aids for the injured and aged and have been used for centuries across the world. The devices are also used by people with cerebral palsy, muscular dystrophy, multiple sclerosis and other forms of debilitating neurological diseases.
Another form of injuries creating disability has been observed to be on the rise since the last decade called “Repeated Stress Injuries”. RSI is responsible for invisible injuries requiring mobility aids. Modern mobility devices have been developed with an aesthetic sense in order to ease the uncomfortable feeling of being disabled since several studies indicate disability as a major factor of depression. Mobility aids and assistive devices are used in schools, universities, hospitals, and homes. Major buyers for mobility assisting devices include hospitals, nursing homes, day-care and individual purchases by patients.
Recent advancements in mobility assisting devices include remote controlled and motorized wheelchairs and stair-lifts. The latest devices from robotics manufacturers include exoskeletons and electroencephalograph controlled devices. For quadriplegics, this is an avenue for a new life. An EEG connected chair senses the inclination of a person to move in a certain direction and then computes the motors attached to a wheelchair to move in that direction.
Although the use of EEG enhanced mobility devices and exoskeleton is very rare today, it is observed that cost is the primary factor controlling the purchase of these devices. A motorized wheelchair may be priced anywhere between US$ 1000 to US$ 3000 over the world, however with the installation of EEG for motion sensing, the cost may increase exponentially. Besides generic factors such as the aging population, other major drivers for the market for mobility assisting devices include increasing incidence of debilitating neurological diseases resulting in paralysis or weakening of muscles, trauma injuries from sports and other accidents. The CAGR of the market is pegged at 7.5% and analysts predict steady revenues for companies from end-users such as hospitals and nursing homes.
The research initiative intends to analyze markets in five geographical regions of North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa. Companies such as Sunrise Medical, Drive Medical, Karma Healthcare, Ottobock, Invacare Corporation, Hoverround, Kymco, Permobil AB, Pride Performance Mobility, Meyra and GF Health Products are some major American and European brands exporting their technologies over the world.
The report extends its analysis by providing the statistics of disabled people over the world which can give the reader a scenario of the potential and untapped market as compared to the current status. The report is aimed at device manufacturers, group purchase organizations, hospitals, nursing homes, medical professionals, distributors and other stakeholders in this market.
The below mentioned quantitative and qualitative analysis is subject to enhancement and refinement during the course of research.
The report analyses and estimates the market by:
- Product Segment/Sub-segment Types
- Market Share Analysis – segments, players, geographies
- Geographic Analysis
- Market Segmentation
- Drivers & inhibitors in the market
- Opportunities in the market
- Reimbursement scenario – Region-specific
- Pipeline developments – by phases
- Competitive landscape – recent strategic developments