The Europe mobility aids market size is expected to reach USD 3.7 billion by 2027, expanding at a CAGR of 3.8%, according to a new report by Grand View Research, Inc. High demand for home healthcare and an increase in the geriatric population requiring long term care are expected to propel market growth over the forecast period. In addition, technological advancements in mobility aids are also expected to increase adoption, thereby contributing to market growth.
The
introduction of new mobility aids by market players is anticipated to increase
the number of products available in the market and facilitate market growth.
For instance, in 2017, Drive DeVilbiss introduced the Panther Heavy-duty
4-wheel scooter and Cruise II wheelchair, thus expanding the company’s product
portfolio and driving the market growth.
Furthermore,
the aging population in the U.K. has increased significantly in the past five
decades. As per statistics published by Age U.K., in 2017, around 11.8 million
people in the U.K. were aged 65 years or over. Moreover, around 4.0 million
older citizens in the U.K. were estimated to suffer from a long-term illness,
and these health conditions severely affected their mobility. The increasing
geriatric population is a vital impact rendering driver for the market.
In
addition, the availability of a variety of funding systems for Long-term Care
(LTC), such as social insurance, private insurance, and universal health
coverage scheme, across the European nations is also anticipated to
significantly improve the affordability of mobility devices. In addition, the
tax-based system in England is also focusing on the provision of rehabilitation
and reablement services to patients. These factors are expected to result in
lucrative growth of the market through the forecast period.
Full Research Report On Europe Mobility Aids Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/europe-mobility-aid-market
Europe Mobility
Aids Market Report Highlights
- The
wheelchair segment spearheaded the market in 2019 due to an increasing
number of disorders, such as spinal cord injuries, which require
wheelchair support
- The public
segment was the largest in terms of revenue due to the presence of
established players in the market offering a wide range of products
- The aged care
segment dominated the market in 2019, with a revenue share of more than
50.0% attributed to increasing in geriatric population in the region
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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