Laminar Growth to be Witnessed by Personal Mobility Devices Market
Personal mobility devices include wheelchairs, scooters, bicycles, and unicycles. Most of these devices are used by disabled people, who have restricted mobility. A personal mobility device is designed for use by single person. These devices can be manual or powered by battery. Increasing number of geriatric population is expected to favor growth of the personal mobility device market. According to data published by National Institute on Aging in 2010, it was estimated that 524 million people were aged 65 years or older that is 8% of the world’s population and by 2050, it is expected to nearly triple and reach 1.5 billion, representing 16% of the world’s population. This above statistics is expected favor growth of personal mobility devices market.
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Common problems faced by geriatric population include instances of falling, due to vertigo or dizziness, chronic diseases. According to World Health Organization (WHO), falls are the second leading cause of accident or unintentional injury, which leads to death of people worldwide, whereas adults aged above 65 years suffer the greatest number of fatal falls. Additionally, in 2014, around 27,000 older adults died because of falls; 2.8 million were treated in emergency departments for fall-related injuries, and around 800,000 of these patients were subsequently hospitalized, according to Centers for Disease and Prevention (CDC) in the U.S. Owing to these factors, demand for personal mobility devices is increasing and this is expected to aid in growth of the market.
The personal mobility devices market is estimated to be valued at US$ 7,821.2 Mn in 2017 and is expected to witness a robust CAGR of 7.6% during the forecast period (2017-2025).
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