Europe Mobility Aids Market to Witness a Strong Growth During 2022 – 2030
The Europe mobility aids market size was valued at USD 2.8 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 3.2% from 2022 to 2030.
The Europe Mobility Aids Market size is expected to reach USD 3.98 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a significant CAGR of 3.2% in the forecast period. The high demand for home healthcare and an increase in the geriatric population requiring Long-term Care (LTC) are expected to propel the market growth during the forecast period. In addition, technical advancements in mobility aids are likely to boost product usage, resulting in market expansion. The introduction of new mobility support devices by key market players is anticipated to increase the number of products available in the market. This, in turn, will help facilitate the growth of the market.
Furthermore, the aging population in the U.K. has increased significantly in the past five decades. As per the statistics published by Age U.K., in 2020, around 18.65% of people in the country were aged 65 years or over. Moreover, around 4 million older citizens in the U.K. were estimated to suffer from long-term illnesses severely affecting their mobility. The increasing geriatric population is a key growth-driving factor for mobility aids. The pandemic has had an ongoing adverse impact on various industries across the globe. Stay-at-home mandates, transportation bans, and workforce crunch have resulted in the disruption of supply chains. Although the market was not significantly affected, the supply chain bottlenecks and restrictions on the product as well as patient movement caused a decrease in sales revenues.
Related Press Release@ Europe Mobility Aids Market Report
Europe Mobility Aids Market Report Highlights
- The wheelchair segment spearheaded the market in 2021 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 share due to the presence of established players offering a wide range of products
- The offline distribution channel segment held a high revenue share in 2021. This is owing to a higher preference for the offline purchase of mobility aids
- The rehabilitation care segment dominated the market in 2021 and will remain dominant throughout the forecast period