Dublin, June 04, 2021 (GLOBE NEWSWIRE) -- The "Mobility Aids and Transportation Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Major players in the mobility aids and transportation equipment market are Medline Industries, Hoveround Corporation, Sunrise Medical LLC, OttoBock Healthcare GmbH and Stryker Corporation.
The global mobility aids and transportation equipment market is expected to grow from $1.16 billion in 2020 to $1.38 billion in 2021 at a compound annual growth rate (CAGR) of 19%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.82 billion in 2025 at a CAGR of 7.2%.
The Australian Road Rules (ARRs) regulate the use of 'motorized wheelchairs' on roads or road related areas such as footpaths. A motorized wheelchair, which is not able to travel faster than 10 km/h on level ground, is recognized under the ARRs as a pedestrian. This means that users are subject to the general road rules applying to pedestrians. A motorized wheelchair that can travel faster than 10 km/h on level ground is treated as a vehicle, which means that the person using the device is treated as a driver, who is subject to all of the road rules applying to drivers of vehicles.
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.
Insurance companies have attempted to control the costs of health care by shifting more of the responsibility to the individual. In 2019, the out-of-pocket maximum of $7,900 for individuals and $15,800 for family health plans. This involves the health insurance company can't force you to give more than $7,900 if you're an individual or $15,800 if you're part of a family plan.
In 2020, the out-of-pocket has increased maximum to $8,200 for individual plans and $16,400 for family plans.. 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).
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.
Key Topics Covered:
1. Executive Summary
2. Mobility Aids And Transportation Equipment Market Characteristics
3. Mobility Aids And Transportation Equipment Market Trends And Strategies
4. Impact Of COVID-19 on Mobility Aids And Transportation Equipment
5. Mobility Aids And Transportation Equipment Market Size And Growth
5.1. Global Mobility Aids And Transportation Equipment Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Mobility Aids And Transportation Equipment Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Mobility Aids And Transportation Equipment Market Segmentation
6.1. Global Mobility Aids And Transportation Equipment Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Electrically Powered Wheelchairs
- Manual Wheelchairs
- Walking Aids
- Mobility Scooters
- Stretchers
- Stair Lifts
6.2. Global Mobility Aids And Transportation Equipment Market, Segmentation By End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Hospital
- Clinic
- Household
6.3. Global Mobility Aids And Transportation Equipment Market, Segmentation By Age Group, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Mobility Aids for Children
- Mobility Aids for Elderly
7. Mobility Aids And Transportation Equipment Market Regional And Country Analysis
7.1. Global Mobility Aids And Transportation Equipment Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Mobility Aids And Transportation Equipment Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- Medline Industries
- Hoveround Corporation
- Sunrise Medical LLC
- OttoBock Healthcare GmbH
- Stryker Corporation; Medline Industries
- GF Health Products Inc
- Invacare Corporation
- LEVO AG
- Permobil AB
- Hill-Rom Holdings Inc
- Merivaara Corporation
For more information about this report visit https://www.researchandmarkets.com/r/gjst7x