Personal Mobility Devices MarketSize and Trends

The global personal mobility devices market is estimated to be valued at US$ 10,586.4 million in 2022 and is expected to exhibit a CAGR of 6.7% during the forecast period (2022-2030).

Figure 1. Global Personal Mobility Devices Market Share (%), by End User, 2022

Rising disability cases, owing to growing geriatric population, increasing number of road accidents, spinal cord injuries, meningitis, and workplace injuries are the leading factors expected to propel growth of the global personal mobility devices market.

Increasing disability cases is expected to drive the global personal mobility devices market growth. According to Centers for Disease Control and Prevention (CDC), in 2018, over 53 million people in the U.S. were suffering from some form of disability. According to the data published in the World Health Organization, in November 2021, over 1 billion people globally live with some form of mobility disability. This corresponds to about 15% of the world's population, with up to 190 million (3.8%) people aged 15 years and older having significant difficulties in functioning, often requiring health care services and mobility devices. Similarly, according to the World Population Prospects in 2017, global population aged over 60 years was 962 million, which is expected to reach around 2.1 billion by 2050. Globally, population aged 60 years and above is increasing faster than all younger age groups. This group of population is highly susceptible to different types of age-related diseases such as diabetes, renal insufficiency and arthritis, metabolic change, Parkinson's disease, organ failures, and nervous disorders.

Figure 2. Global Personal Mobility Devices Market Share (%), by Region, 2022