North America And Europe Group 2 Powered Mobility Devices Industry Overview
The North America and Europe group 2 powered mobility devices market size was estimated at USD 4.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.3% from 2021 to 2028. This is largely attributed to the increasing incidence of disability and rising acceptance of group 2 powered mobility devices due to ease in driving and performing outdoor activities. The COVID-19 pandemic had severely disrupted the supply chain as a result of stay-at-home orders, transit limitations, and a shortage of labor.
COVID-19 has had a significant impact on global industries, particularly the medical industry, whether for prevention, diagnosis, or therapy. It has resulted in several significant changes in trends in medical devices and services which could not be predicted before the pandemic, which are expected to have long-term consequences. The epidemic has had a long-term negative influence on several sectors around the world. There were approximately 237,581,239 COVID-19 cases worldwide as of October 10, 2021, leading to over 4,849,802 deaths.
Gather more insights about the market drivers, restrains and growth of the North America And Europe Group 2 Powered Mobility Devices Market
According to the U.S. Census Bureau, currently, more than 54 million adults aged 65 years and above are living in the country, accounting for about 16.5 % of the nation’s population. The number of older adults in the U.S. is large and growing; by 2050, the total number of adults ages 65 and older is projected to reach 85.7 million, accounting for about 20% of the entire U.S. population. Due to the rising geriatric population, the demand for group 2 powered mobility devices is growing. Mobility devices are being increasingly accepted by patients and physicians as they have proved exceptional in improving the Quality of Life (QOL). Due to increased awareness and rising acceptance, the demand for powered vehicles is expected to increase in the U.S.
Product launches from the existing pipeline are likely to expand as new technologies and clinically complex solutions are launched, which are expected to provide easy mobility options for disabled patients. LiNX technology is a next-generation technology built by Invacare Corporation for controlling powered devices. This new technology enables devices to enhance a user’s mobility through wireless connectivity and other innovative features. With the implementation of new technology and innovative features, acceptability and usage of mobility devices are expected to grow over the forecast period.
The power-operated vehicle is becoming increasingly popular among older people or people with disabilities due to its benefits, such as offering a better quality of life with free physical movement. Major players are customer-centric and design mobility devices as per customer need comfort. For instance, In June 2020, Invacare launched Scorpius A- A foldable electric scooter. It weighs less than 30kg without the batteries with a driving range of 9 miles and is ideal for indoor and outdoor use.
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North America And Europe Group 2 Powered Mobility Devices Market Segmentation
Grand View Research has segmented the North America and Europe group 2 powered mobility devices market based on product, payment type, sales channel, and region:
North America Europe Group 2 Powered Mobility Devices Product Type Outlook (Revenue, USD Million, 2016 - 2028)
- Powered Wheelchair
- Power Operated Vehicle
North America Europe Group 2 Powered Mobility Devices Payment Type Outlook (Revenue, USD Million, 2016 - 2028)
- Reimbursement
- Out-of-pocket
North America Europe Group 2 Powered Mobility Devices Sales Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Retail
- E-commerce
- Direct Sales
- Veteran Affairs
North America Europe Group 2 Powered Mobility Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
Market Share Insights
- October 2021: NSM acquired an independently owned and operated HME dealer in Red Deer, Alberta. This acquisition enhanced the company's commitment to Canadian clients, expanding its footprint.
- February 2021: Invacare Corporation announced the launch of its next-generation power assist device—the e-motion (M25). These power-assist vehicles will be equipped with wheels that have powerful in-hub motors and lithium-ion batteries.
Key Companies profiled:
Some of the prominent players in the North America and Europe group 2 powered mobility devices market include:
- 1800 Wheelchair.com
- Wal-Mart Stores Inc.
- Pride Mobility Products Corporation
- Invacare Corporation
- Golden technologies
- National Seating Mobility, Inc.
- Numotion
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