Global personal mobility devices market is expected to reach USD 8.0 billion by 2020, according to a new study by Grand View Research, Inc. Increasing geriatric population base and prevalence of target diseases are some key factors expected to drive market growth during the forecast period. Aging heightens the susceptibility of a person towards developing target diseases such as osteoporosis and rheumatoid arthritis. Therefore, a growing geriatric population base is expected to widen the patient base for manufacturers.
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Additionally, presence of supportive government initiatives aimed at strengthening reimbursement frameworks and growing R&D investments for new product development is expected to propel market growth over the next six years.
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Further key findings from the study suggest:
• Wheelchairs were the largest selling product segment in 2013. Growing demand for powered wheelchairs especially in the developed countries is expected to drive segment growth during the forecast period.
• Premium rollators are identified as the most lucrative segment of this market. Manufacturers of these rollators capitalize on the unmet needs of patients. Features such as enhanced height, ability to handle heavy weight patients, handle adjustment mechanism are expected to enhance penetration rates. The introduction of specialized devices such as rollators with laser attachment for patients suffering from Parkinson’s is also expected to drive segment growth during the forecast period. These devices are expected to witness a rapid rise in demand in developed markets with patients holding high disposable income and awareness levels.
• North America was the most matured...