GLOBAL PERSONAL MOBILITY DEVICES FOR PARKINSON'S MARKET ANALYSIS (2023 - 2030)
The Global Personal Mobility Devices for Parkinson’s Market was estimated to be worth USD 8.96 Billion in 2023 and is projected to reach a value of USD 14.61 Billion by 2030, growing at a forecasted CAGR of 6.3% during the outlook period 2023-2030.
The COVID-19 pandemic had a negative impact on the global market for personal mobility devices for Parkinson's disease. The pandemic caused disorders in the supply chain and hindered or decreased the production and distribution of these devices. These disorders resulted in reduced availability and increased prices of personal mobility devices. Further, the pandemic caused many healthcare facilities and rehabilitation centers to temporarily shut down or reduce their operations, leading to decreased demand for these devices. The demand reduction, alongside supply chain disruptions, harmed the entire market for personal mobility devices for Parkinson's disease. Despite these challenges, the market for personal mobility devices for Parkinson's disease is anticipated to grow in the forecasted period, driven by increasing awareness about Parkinson's disease and the growing elderly population.
The growing geriatric population is predominantly driving the mobility devices for Parkinson’s disease market across the globe. With the aging of the population, there is a corresponding increase in the number of people diagnosed with Parkinson's disease, which drives demand for personal mobility devices.
The global personal mobility devices for Parkinson's market are encountering several challenges, such as high expenditure, limited awareness, lack of reimbursement, and alternative therapeutics and treatments. Personal mobility devices for Parkinson's disease can be costly, making it challenging for patients to purchase them. In some countries, there is limited awareness about Parkinson's disease among people and the treatments available, including mobility devices. In many countries, insurance coverage for Parkinson's disease mobility devices may be limited, making it challenging for patients to access the devices and limiting the market growth. Alternative therapeutics and treatments may be cheaper than mobile devices and hence, have a significant impact on the global Parkinson's disease mobility devices market.
Key Market Insights:
- Based on product type, the global mobility devices for Parkinson's disease are segmented into walkers, canes, crutches, wheelchairs, and mobility scooters. Due to constant improvements and innovation in the formulation and functionality of the mobility device, the Wheelchairs segment is projected to dominate the global mobility devices for Parkinson's disease market by product type in 2022. Manufacturers are working on improvised features for wheelchairs, namely, strong wheels, advanced maneuverability, and prototypes with weight-shifting capabilities for increased comfort and reliability. Moreover, by permitting patients to move chairs with electric controls, the development of electric wheelchairs has substantially reduced the burden on patients.
- Based on end-user, the global mobility devices for Parkinson's disease are segmented into hospitals and clinics, long-term care centers, and home-care settings. Because of the growing prevalence of the illness among the geriatric population, the home-care settings segment is projected to capture the maximum market share by end-user in 2022. The elderly require mobility devices at home due to less independent mobility. Over the forecasted period, the hospitals and clinics segment is projected to be the second largest. This growth is primarily due to the increasing number of patients with walking conditions and the availability of improved mobility devices.
- Based on the region, the global mobility devices for Parkinson's disease market is segmented into North America, Europe, Asia Pacific, The Middle East and Africa, and South America. In 2022, North America accounted for the largest market share of global mobility devices for the Parkinson's disease market, holding almost 40% of the market (the USA accounts for 80% of the North American market). The market size in this region is projected to grow during the forecast period at a consistent rate, mainly due to a rise in the prevalence of age-associated diseases (Parkinson's disease), advancements in healthcare infrastructure, government support, and increased healthcare expenditure. Europe and Asia Pacific are also significant markets for Parkinson's mobility devices, holding the second and third largest market share, respectively, in 2022. Asia Pacific region is projected to be the fastest-growing market over the forecasted period owing to an overall surge in the geriatric population.
- Medline Industries, Inc. (United States), Karman Healthcare (United States), Pride Mobility Products Corp. (United States), Sunrise Medical (Germany), Invacare Corporation (United States), Permobil AB (Sweden), Meyra GmbH (Germany), Ottobock SE & Co. KG (Germany), GF Health Products, Inc. (United States), Bischoff & Bischoff GmbH (Germany) are among the major players in the global personal mobility devices for the Parkinson’s market. The personal mobility devices for Parkinson’s market is estimated to become more competitive as new players enter the industry. Due to their innovation and new product development in the personal mobility devices for Parkinson’s market, Medline Industries, Inc., and Karman Healthcare currently dominate the market.
MARKET SEGMENTATION:
By Product Type
- Walkers
- Canes
- Crutches
- Wheelchairs
- Mobility Scooters
By End User
- Hospitals and Clinics
- Long-term Care Centres
- Home-Care Settings
By Region
- North America
- Europe
- Asia Pacific
- The Middle East and Africa
- South America
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