The global market for medical mobility aid is characterized by cut-throat competition amongst the market players. The intense level of competition in the market is attributed to the presence of a large number of international, regional, and local players. While the global players aim to penetrate the regional markets, the local and regional players want to maintain their lead in their respective regions. It is safe to estimate that the marker players would optimize their processes of production to ensure that the business generates profitable returns. Moreover, the international players are expected to acquire the regional players in order to expand their geographical reach and have greater access to the market. Mergers also seem to be a sound business strategies of market players who aim to eliminate competition and expand their consumer base. The leading market players are prognosticated to enter into strategic alliances, collaborations, and partnerships with the intent to have a level of control over the market. Some of the key players in the global market for medical mobility aid are Sunrise Medical (US) LLC, Benmor Medical (UK) Limited, GF Health Products, Inc., Evolution Technologies Inc., Ostrich Mobility Instruments Pvt. Ltd., Permobil Group, Invacare Corporation, Briggs Healthcare, and Stryker Corporation.
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Transparency Market Research (TMR) forecasted the progress of the global market for medical mobility aid over the period from 2017 to 2025. The growth rate of the market over the forecast period is expected to stand at a sturdy value, while the market value is expected to elevate by the end of the forecast period. In terms of product type, the wheelchairs segment is projected to attract tremendous demand over the forecast period.
Prevalence of Paralytic Disorders to Expand Market
The most prominently visible reason that propels demand within the global market for medical mobility aid is the rising instance of injuries and paralytic disorders. Hospitals and healthcare centers are focused towards maintaining a robust repository of medical mobility aids in order to assist the patients. Hence, the ascending number of hospitals and healthcare centers across the globe has ensured a regular inflow of demand in the global market for mobility aids. The incidence of injuries and disorders is higher amongst the geriatric population, and hence, the growth of this demographic also escalates demand within the market. Post-surgical transfer of patients from the operation theatre to other wards necessitates the use of wheelchairs and other mobility devices, thus, emphasizing on the need for mobility devices within the healthcare industry.
North America to Emerge as Leading Regional Segment Following
In North America, the healthcare industry’s primal focus is on the swift recovery of patients suffering orthopedic and other similar disorders. Hence, the patients are provided with the best mobility aids across most of the hospitals and healthcare units. This has placed North America at the top of the table for market share and has given a lead to the regional market over other regional segments. The growth rates of other regional segments such as Latin America, the Middle East and Africa (MEA), Asia Pacific (APAC) and Europe are also expected to soar higher than the preceding numbers.