The U.S. group 2 powered mobility devices market size is expected to reach USD 4.0 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 17.5% during the forecast period. Out-of-pocket sales are expected to form the fastest growing sales channel owing to reducing dependence on traditional sources of insurance. However, manufacturers such as Drive Medical are still offering wheelchairs and scooters covered under Medicare. Introduction of technologically advanced products and commercial availability of a wide range of battery powered mobility devices are some of the factors anticipated to rev up the acceptance of powered wheelchairs among customers making out-of-pocket expenses.
According to the U.S. Department of Commerce, in 2015, U.S. had around 50 million people above 65 years of age, who represented approximately 15.0% of the total population. Established presence of several manufacturers, growing geriatric population, and introduction of new devices in the market are estimated to fuel the demand for these devices in the country. Powered wheelchair was the largest product type segment in 2016. Increase in number of spinal cord injuries and aging population susceptible to disability is anticipated to be responsible for growth of this segment.
Manufacturers are entering into partnerships to offer improved products and consolidate their position in the market. For instance, in July 2017, National Seating & Mobility announced a partnership with WHILL, Inc. This partnership was intended for exclusive nationwide distribution of next-generation power wheelchairs. This strategic partnership is projected to offer new options to patients seeking intelligent personal electric vehicles.
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Further key findings from the report suggest:
The U.S. group 2 powered mobility devices market size reported a valuation of USD 921.8 million in 2016 and is likely to expand at a CAGR of 17.5% from 2017 to 2025
Powered Wheelchairs (PWC) emerged as the largest product type segment in 2016 and is expected to witness the fastest CAGR of 18.1% during the forecast period
The out-of-pocket payment segment is anticipated to rise at a high CAGR of 17.6% over the forecast period due to declined reliability of manufacturers on insurance
The e-commerce sales channel will emerge as a highly promising segment, registering a CAGR of 17.8% during the same period
Some of the key players in the market are Pride Mobility Products Corporation; Golden Technologies; Invacare Corporation; Numotion; National Seating & Mobility; 1800wheelchair.com; Shoprider Mobility Products, Inc.; EZ Lite Cruiser; and Medical Depot, Inc. (Drive DeVilbiss Healthcare).
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Grand View Research has segmented the U.S. group 2 powered mobility devices market on the basis of product, payment, and sales channel:
U.S. Group 2 Powered Mobility Devices Product Type Outlook (Revenue, USD Million, 2013 – 2025)
Power Operated Vehicle
U.S. Group 2 Powered Mobility Devices Payment Type Outlook (Revenue, USD Million, 2013 – 2025)
U.S. Group 2 Powered Mobility Devices Sales Channel Outlook (Volume, Units; Revenue, USD Million, 2013 – 2025)
Direct Sales (excluding VA)
Access Full Press Release of this Report:https://www.grandviewresearch.com/press-release/us-group-2-powered-mobility-devices-market-analysis
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.
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