South Korea Home Mobility Assist and Support Equipment Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 2.0 Billion by 2030, growing at a CAGR of 7.4% from 2024 to 2030.
The South Korea Home Mobility Assist and Support Equipment Market has witnessed remarkable growth, driven by an aging population and increasing demand for mobility solutions. This sector includes various devices that aid individuals with mobility impairments, enabling them to maintain their independence and quality of life. The application of home mobility assist and support equipment spans across several industries, with a growing focus on the healthcare sector, particularly in elderly care and rehabilitation services.
In South Korea, the aging population is a significant driver for the demand for mobility aids. By 2025, it is projected that nearly 20% of the population will be over 65 years old. This demographic shift has led to an increase in mobility challenges for many individuals, especially the elderly. Home mobility assist and support equipment such as wheelchairs, scooters, walking aids, and adjustable beds have become essential for this group. These devices allow for improved movement, comfort, and autonomy within their homes.
Industries such as healthcare, retail, and manufacturing have seen substantial demand for home mobility assist and support equipment. In particular, healthcare facilities are keen on integrating advanced mobility aids in both home care and hospital settings. These devices contribute significantly to patient recovery by reducing hospital readmissions and enhancing rehabilitation processes. Additionally, there is a growing trend in the retail market, where mobility aids are being sold directly to consumers, providing more accessibility to individuals seeking to enhance their mobility at home.
The technological advancements in home mobility assist and support equipment have also boosted the market. With innovations in smart technology, these devices are now offering enhanced features such as remote control, automatic adjustments, and even AI integration to ensure optimal user experience. This fusion of mobility and technology creates solutions that are not only functional but also user-friendly, making them increasingly popular in the South Korean market.
Furthermore, government policies and healthcare initiatives play a vital role in encouraging the adoption of mobility aids. Subsidies, insurance reimbursements, and awareness campaigns are pivotal in reducing the financial barriers for individuals who require these aids. This support has been crucial in improving access to mobility equipment, making it easier for people to live independently and maintain their daily routines.
The South Korea Home Mobility Assist and Support Equipment Market is on a steady growth trajectory, with industries continuously exploring new opportunities to cater to the evolving needs of an aging population. As technology and healthcare services continue to evolve, this sector will undoubtedly play a pivotal role in enhancing the lives of individuals facing mobility challenges.
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Permobil Corp
Pride Mobility
Invacare Corp
Sunrise Medical
Ottobock
Hoveround Corp
Merits Health Products
Drive Medical
Hubang
N.V. Vermeiren
Nissin Medical
EZ Lite Cruiser
Heartway
Golden Technologies
Karman
Yuwell
Invacare
Enovis
Ossur
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Home Mobility Assist and Support Equipment Market
Mobility Scooters
Wheelchairs
Walking Aids
Lift Chairs
Stair Lifts
Bathroom Aids
Seniors
Individuals with Disabilities
Post-operative Patients
Caregivers and Home Health Aides
Online Retail
Medical Supply Stores
Pharmacies
Specialty Mobility Equipment Retailers
Direct Sales
Basic Functionality Equipment
Adjustable and Customizable Equipment
Smart Mobility Aids
Adaptive Equipment for Specific Conditions
Budget-friendly Options
Mid-range Products
Premium Mobility Equipment
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Home Mobility Assist and Support Equipment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Home Mobility Assist and Support Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Home Mobility Assist and Support Equipment Market, By Type
6. South Korea Home Mobility Assist and Support Equipment Market, By Application
7. South Korea Home Mobility Assist and Support Equipment Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Home Mobility Assist and Support Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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