India Mobility Aid Medical Devices Market to Reach $ 200 Million by 2026
Increasing geriatric
population and significant technological advancements are acting as key growth
drivers for India mobility aid medical devices market
According
to TechSci Research report, “India Mobility Aid Medical Devices Market By
Product, By End User, By Region, Competition, Forecast & Opportunities, FY
2026”, the country’s mobility aid
medical devices market is projected to surpass $ 200 million by FY 2026 driven
by the growing disabled and handicapped population and increase in population
of children with birth defects or who are physically challenged. Besides,
growing prevalence of diseases like arthritis, muscular dystrophy, cerebral palsy,
among others is further expected to fuel the market growth over the next few
years. However, high cost of mobility aid medical devices such as power
wheelchairs, mobility scooters, powered tricycles, etc., can hamper the market
growth during the forecast period. Also, lack of awareness and low level of
acceptance for few devices is posing a challenge for mobility aid medical
devices manufactures in India.
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India
mobility aid medical devices market is segmented based on product, end user, and
region. Based on product segmentation, the market can be categorized into
wheelchairs, walking aids, mobility lifts, slings, tricycles and mobility
scooters. Wheelchairs and walking aids segments are the dominant market
segments, with both cumulatively accounting for majority of the market share in
FY 2020 . The walking aids segment is further categorized into canes, walkers
and crutches. The canes segment is expected to dominate the market owing to
their low cost and ease of use. Additionally, this is a regular sales product
that is not only used by people with disabilities but also used by patients
after surgeries and injuries. The walkers segment is also expected to grow significantly
owing to their extensive use in early stages of mobility after surgeries and
injuries.
The mobility lifts
segment is further fragmented into ceiling lifts, hydraulic lifts and others.
The hydraulic lifts segment is expected to dominate the
market owing to their widespread use across different homecare and hospital
facilities. The tricycles segment is further split into manual and powered. The
manual segment is expected to dominate the market owing to their widespread
adoption and low cost. Major
players operating in India mobility aid medical devices market include Stryker
India Private Limited (Stryker Corporation), Forza Medi (India) Pvt. Ltd.
(Invacare Corporation), Investor AB (Permobil India), Arjo Huntleigh Healthcare
India Private Ltd, Hill-Rom India Private Limited, Karma Health Care Limited,
Paramount Bed Co., Ltd., OttoBock Healthcare India Private Limited (OttoBock Healthcare
GmbH), Pride Mobility Products Corp., Ostrich Mobility Instruments Private
Limited, among others. Leading market players are undergoing strategic
collaborations and focusing on launching new products to strengthen their
position in India mobility aid medical device market.
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“The
increasing rate of developmental disabilities among children in India and
increasing focus of government on providing high standard medical facilities
are supporting the growth of mobility aid medical devices market in the
country. The improving standard of living and developments in healthcare
infrastructure are also providing lucrative opportunities to medical device manufactures.
Furthermore, increase in mobility impairment disorders in the country including
amputation, paralysis, cerebral palsy, multiple sclerosis and spinal cord
injury, is creating increasing demand for mobility aid medical devices.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based India
management consulting firm.
“India Mobility Aid Medical Devices Market By
Product, By End User, By Region, Competition, Forecast & Opportunities, FY
2026” has evaluated the future growth potential of mobility
aid medical devices market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in India mobility
aid medical devices market.
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