Per-Encounter Medical Market Growth Accelerated By Rising Health Expenditure

Pooja Khodke

Per-Encounter Medical Market Growth Accelerated By Rising Health Expenditure

The per-encounter medical market comprises mobility equipment such as wheeled walkers, wheelchairs, scooters and stairlifts which provide independence, mobility and accessibility to individuals with disabilities. These medical devices have advantages like improved comfort, portability and customization options for users. The rising cases of disabilities owing to chronic diseases, accidents and ageing population has fueled the need for such assistive products globally.

The global Per-Encounter Medical Market is estimated to be valued at Us$ 133.64 Bn in 2023 and is expected to exhibit a CAGR Of 11% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Growing health expenditure in emerging economies offer lucrative growth opportunities for players in the per-encounter medical market. According to data, out-of-pocket health spending in developing nations is increasing at a rate faster than domestic economic growth. This is encouraging government and private insurance coverage for assistive products. Additionally, favorable regulations for standards and reimbursements of mobility equipment have boosted consumer acceptance. Manufacturers are thereby expanding their product portfolio with technologically advanced offerings tailored for users in developing markets. This rising demand coupled with efforts by companies to strengthen distribution channels in emerging countries will further propel the market during the forecast period.

Segment Analysis

The global per-encounter medical market is dominated by powered wheelchairs and mobility scooters which accounted for over 35% of the market share in 2024. Powered wheelchairs provide independent mobility for disabled patients and help them perform daily tasks with ease. The growing geriatric population globally results in greater prevalence of mobility disorders which drives the demand for powered wheelchairs.

Key Takeaways

The Global Per-Encounter Medical Market Demand is expected to witness high growth over the forecast period of 2024-2031.

Regional analysis:

North America currently dominates the global per-encounter medical market and is expected to continue its dominance during the forecast period. This can be attributed to the presence of leading manufacturers in the US and growing prevalence of chronic diseases in the region. Asia Pacific is expected to be the fastest growing market owing to large patient pool, rising healthcare investments and growing geriatric population in countries like China and India.

Key players operating in the per-encounter medical market are Invacare Corporation, Sunrise Medical (US) LLC, Permobil Inc., Pride Mobility Products Corporation, Drive Devilbiss Healthcare, Hoveround Corporation, Ottobock Healthcare, 21st Century Scientific, Inc., Meyra GmbH, LEVO AG, Merits Co. Ltd., Segway Inc., Scewo, GF Health Products Inc., Karman Healthcare, Inc., KYMCO Healthcare, SOWECARE B.V, and Nanjing Jin Bai He Medical Apparatus Co., Ltd. Invacare Corporation is one of the leading players providing technologically advanced products.

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