Harrisburg, NC -- (SBWIRE) -- 10/21/2020 -- The Mobility Aids And Transportation Equipment Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The global mobility aids and transportation equipment market was valued at about $2.7 billion in 2018 and is expected to grow to $2.85 billion at a CAGR of 1.4% through 2022.
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A large number of aging population will give an impetus to the mobility aids & transportation equipment market. Elderly populations suffer from age-related diseases resulting in impaired mobility. The risk from rheumatoid arthritis and osteoporosis is more in the geriatric population. According to WHO, the worldwide geriatric population will double by 2050 from 12% top 22%, propelling the mobility aids & transportation equipment market growth.
Insurance companies have attempted to control the costs of health care by shifting more of the responsibility to the individual. In 2002, the out-of-pocket expense, on average, for a family of four was $9,235 per year. By 2011, this number had risen to $19,393 for a family of four. And for 2016, the average out-of-pocket expense is $25,826. Insurance companies are attempting to discourage overuse by making subscribers more price sensitive through high deductibles, co-pays, and co-insurance (the portion of the health care bill for which the subscriber is responsible after the deductibles have been met).
Japanese auto makers introduced a single-seat self-driving car to aid and assist people who find walking or using public transit difficult. This self-driving car is smartphone or tablet enabled pick a destination on the map and the pathfinding system in the vehicle will take care of the rest. It is equipped with a navigation system which will help to get from point A to B, a gyro sensor helps the car to remain stable on uneven surfaces, 2D and 3D laser sensors will be used to judge distance from items and stereo cameras will be used to detect obstacles in its path. The car is designed to maneuver easily through city streets, across pavements and footpaths. Sensors and guidance systems will help the vehicle to navigate around bumps, potholes and pedestrians.
Scope of the Report:
Markets Covered: 1) By Type: Electrically Powered Wheelchairs, Manual Wheelchairs, Walking Aids, Mobility Scooters, Stretchers, Stair Lifts 2) By End User: Hospital, Clinic, Household 3) By Age Group: Mobility Aids for Children, Mobility Aids for Elderly
Companies Mentioned: Medline Industries, Hoveround Corporation, Sunrise Medical LLC, OttoBock Healthcare GmbH, Stryker Corporation
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, Mobility Aids And Transportation Equipment indicators comparison.
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Influence of the Mobility Aids And Transportation Equipment Market Report:
-Comprehensive assessment of all opportunities and risks in the Mobility Aids And Transportation Equipment market.
-The detailed study of business strategies for the growth of the Mobility Aids And Transportation Equipment market-leading players.
-Conclusive study about the growth plot of the Mobility Aids And Transportation Equipment market for forthcoming years.
-In-depth understanding of Mobility Aids And Transportation Equipment market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Mobility Aids And Transportation Equipment market.
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Mobility Aids And Transportation Equipment Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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