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Mobility Scooters Market to Reach USD 1.85 Billion by 2027; Stoked by Increasing Number of Geriatric Population Worldwide

November 25, 2020 | Healthcare

The global mobility scooters market is expected to reach USD 1.85 billion by 2027 owing to the increasing prevalence of geriatric population that propels the demand for advanced mobility scooters across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Mobility Scooters Market Size, Share & COVID-19 Impact Analysis, By Wheels (3 Wheels, 4 Wheels, and Others) End-user (Personal Use and Institutional Use) and Regional Forecast, 2020-2027.” The report further observes that the market stood at USD 1.30 billion in 2019 and is projected to exhibit a CAGR of 6.9% between 2020 and 2027.


Pride Mobility Partners Quantum Rehab to Host Disability Mentoring Day


The global market for medical mobility scooters is experiencing every possible positive boost by the companies. For instance, in October 2018, Pride Mobility Products Corp. announced its partnership with Quantum Rehab to jointly host Disability Mentoring Day. The companies offered 18 disable students using mobility scooters as an assistive device an opportunity to be mentored by career professionals across various fields. This development helped the students to explore and learn about career opportunities in sales, production, R&D, and others.


Such initiatives undertaken by the companies to promote the adoption of mobility vehicles are expected to favor the market growth in the forthcoming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/mobility-scooter-market-102079


Increasing Prevalence of Geriatric Population to Promote Growth


According to the World Health Organization (WHO), higher prevalence of morbidity has been observed across the elderly population across the globe. The increasing number of geriatric population has led to the rising prevalence of disability that propels the demand for advanced mobility scooters globally. Additionally, the technological advancement in the development of mobility solutions for people suffering from neurological disorders that find it hard to stand or walk is expected to contribute to the growth of the global mobility scooters market in the forthcoming years.


Partnership between Key Players to Expand Their Product Portfolio and Boost Sales Revenue


The global mobility scooters market is fragmented by the presence of major companies such as Medical Depot, Van Os Medical B.V., Golden Technologies, and others. These companies are focusing on partnering other enterprises to expand their mobility scooters portfolio and further register considerable sales revenue. Other key players are trying to maintain their stronghold by adopting strategies such as the introduction of new products, merger and acquisition, and collaboration that will drive the market in the forthcoming years.


Industry Development



  • November 2017 – SOS Malta, along with support from local stakeholders, announced the launch of Volunteer Sliema. Under this program, the company launched mobility scooters for elderly people with physical disability.


List of the Companies Profiled in the Market:



  • Invacare Corporation (Ohio, United States)

  • Excel Mobility (Van Os Medical B.V.) (Steenbergen, Netherlands)

  • Pride Mobility Products Corp. (Pennsylvania, United States)

  • Medical Depot, Inc. (New York, United States)

  • Golden Technologies ( Pennsylvania, United States)

  • Afikim Electric Vehicles (Jordan Valley, Israel)

  • Amigo Mobility International (Michigan, United States)

  • Others


Further Report Findings:



  • North America is expected to remain at the forefront and is anticipated to hold the highest position in the global mobility scooters market during the forecast period. This is attributable to the presence of established players that are focusing on developing advanced mobility scooters in the region.

  • Europe, on the other hand, is likely to hold the second position in the market during the forecast period. This is ascribable to factors such as the growing adoption of advanced mobility solutions and the availability of improved healthcare infrastructure in the region between 2020 and 2027.

  • The 4 wheels segment, based on wheel, held a market share of about 66.5% in 2019 and is expected to showcase an exponential growth backed by increasing preference for 4 wheeled mobility vehicles amongst the elderly population globally.


Table of Segmentation:








































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



By Wheels



  • 3 Wheels

  • 4 Wheels

  • Others



By End-user



  • Personal use

  • Institutional Use



By Region



  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa


Mobility Scooter Market
  • PDF
  • 2019
  • 2016-2018
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