PERSONAL MOBILITY DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

Global Personal Mobility Devices Market: Restraint

The major factors that hinder growth of the global personal mobility devices market include lack of awareness about advanced personal mobility devices and unavailability of service centers. Low access to rehabilitation centers in emerging economies is mainly found due to lack of proper transportation service for the people with disabilities. Moreover, the number of rehabilitation centers is very low in emerging countries, which causes disabled people to travel for long distance to receive appropriate treatment. However, product recall for ocular implants is expected to hinder the global ocular implant market growth. For instance, in October 2018, Drug Controller General of India (DCGI) issued a product recall notice to Allergan India Private Limited for its Ozurdex Intravitreal Implant due to detection of silicone particle in it.

Global Personal Mobility Devices Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, medical devices, nutrition supplements etc. by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on impact on the global personal mobility devices market, owing to the hamper of the production and decrease in the demand for the personal mobility devices. For instance, in July 2020, according to the data published by the National Center for Biotechnology Information, the COVID-19 pandemic has had devastating health and economic consequences, with unprecedented disruption to people's lives, the global economy and world trade. The government of different countries imposed lockdown and restricted the import and export activities to avoid the spread of COVID-19 infection. The key players in the market faced difficulties in the holding access to the raw material for manufacturing the mobility devices. The population was facing the lockdown and serious crisis of COVID-19 pandemic due to which the demand of the mobility devices hampered.