The rising need for reliable and innovative mobility aids that will improve the lifestyle of patients will drive the development of the market.
New analysis from Frost & Sullivan (medicaldevices.frost.com), European Mobility Aids Markets, finds that the markets earned revenues of $1.40 billion in 2007 and estimates this to reach $1.82 billion by 2014.
"The expansion of managed care and the creation of the Diagnostic Related Group (DRG) reimbursement system have compelled hospitals to reduce the duration of stay for in-patients," says Frost & Sullivan Research Analyst Dr. Bejoy Daniel. "This has driven the market for homecare, which has shown to be more cost-effective than traditional care. As patients are being discharged from hospitals sooner, the sale of mobility aids for homecare will increase."
The powered wheelchair market has advanced due to innovation and intensifying competition between key incumbents and emerging market participants. The major challenge for companies will be to create extremely reliable and innovative mobility aids that will tangibly enhance the quality of life of customers.
Traditionally, major multinational companies including Invacare, Sunrise Medical and Meyra have dominated the European mobility aids market. However, this situation has changed gradually. Several companies are now introducing novel products, particularly within the wheelchairs market.
The scope of mobility aids is extremely broad and covers an array of different products. These range from devices such as prostheses, to products that target the facilitation and improvement of the daily life of the disabled. All these products can be either very specific or mass produced.
"Diversification is the key to success, with several large manufacturers already offering a full line of home medical equipment (HME) and services in order to attract large customers," states Dr. Daniel. "HME dealers are asking for products to be bundled for convenience and lower costs. Customers are increasingly indicating their preference for dealing with a single source for HME purchases."
Competitive success will therefore depend on efforts to constantly diversify and extend product portfolios. By selling a series of products in a single purchase order, manufacturers are selling more mobility aids units, even while customers are saving money on volume discounts. Simultaneously, the European market has become more homogenous, enabling several industry participants to refine their distribution channels and boost market penetration.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the European markets for mobility aids, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
European Mobility Aids Markets is part of the Medical Devices Growth Partnership Services Programme, which also includes research in the following markets: European Dental Implants Markets and European Medical Lasers Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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