North America to Lead the Mobility Aids Transportation Equipment market from the Front between 2020 and 2030
Mobility aids and transportation equipment refer to the medical devices that are used for transportation of patients or medical products from one place to another. Technological advancement in mobility aids has now made it possible for a disabled person to move according to his own desire. Global market for mobility aids and transportation equipment is increasing at a fast rate due to increase in the disability cases and increase in the number of hospitals. Market for mobility aids and transportation equipment can be broadly segmented into wheelchairs and stretchers. On the basis of product types, mobility aids & transportation equipment market can be segmented into manual and powered equipment.
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North America, followed by Europe, dominates the global market for mobility aids & transportation equipment due to large number of aging population and technological advancement in the region. Asia is expected to show high growth rates in the next few years in global mobility aids & transportation equipment market. China and India are expected to be the fastest growing mobility aids & transportation equipment markets in Asian region. Some of the key driving forces for mobility aids & transportation equipment market in emerging countries are large pool of patients, rising government funding and improvement in the healthcare facilities.
Some of the various factors that have been driving the global mobility aids and transportation equipment market include continuous rise in aging population, growing prevalence of people suffering from disabilities and increasing number of hospitals. In addition, growing awareness for different types of equipment available and government initiatives in the field are driving the mobility aids and transportation equipment market. However, some of the major factors that have been restraining the mobility aids and transportation equipment market are high cost involved and availability other substitutes in the market.
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Innovation of some new products with improved features is expected to offer good opportunities for global mobility aids and transportation equipment market. In addition, technological advancement in emerging countries is expected to offer good opportunity for mobility aids and transportation equipment market.
Some of the major companies dealing in global mobility aids and transportation equipment market are
- Stryker Corporation
- Sunrise Medical, Inc.
- Invacare Corporation
- Getinge AB and Permobil AB.
Some of the other companies dealing in mobility aids and transportation equipment market are Medline Industries, Inc., Paramount Bed Co., Medical Depot, Inc. and Hill-Rom Holdings, Inc.
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