U.S. Group 2 Powered Mobility Devices Market Growth & Trends
The U.S. group 2 powered mobility devices market size is expected to reach USD 6.7 billion by 2030, expanding at a CAGR of 12.4%, according to a new report by Grand View Research, Inc. 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. The 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.
The COVID-19 pandemic has disrupted the supply chain of powered mobility devices due to the restrictions imposed by the government. The pandemic has negatively impacted the businesses of various market players in terms of sales and operating income.
The established presence of several manufacturers, the growing geriatric population, and the introduction of new devices in the market is likely to fuel the demand for these devices in the country. The powered wheelchair was the largest product type segment in 2021. An increase in the number of spinal cord injuries and the aging population susceptible to disability is anticipated to be responsible for the growth of this segment.
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U.S. Group 2 Powered Mobility Devices Market Report
U.S. Group 2 Powered Mobility Devices Market Report Highlights
- The U.S. group 2 powered mobility devices market size reported a valuation of USD 2,185.0 million in 2021 and is likely to expand at a CAGR of 14.3% from 2022 to 2030.
- Powered Wheelchairs (PWC) emerged as the largest product type segment in 2021 and are expected to witness the fastest CAGR of 14.5% during the forecast period.
- The out-of-pocket payment segment is anticipated to rise at a high CAGR of 14.4% 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 14.5% during the same period.
- Direct sales (excluding VA) are expected to witness the highest growth of 14.5% over the forecast period.
