Assisted Walking Devices Market Size is projected to Reach $6.36 Billion by 2030: Straits Research
Assisted Walking Devices Market: Information by Product Type (Canes, Crutches, Walkers, Gait Trainers), and Region — Forecast till 2030
New York, United States, Oct. 23, 2023 (GLOBE NEWSWIRE) — Sometimes, walking aids are also called ambulatory assistive devices. A walking assistance is one of several devices a patient may be issued to improve their walking pattern, balance, or safety while independently mobile. “The global assisted walking devices market size is projected to reach USD 6.36 billion by 2030 at a CAGR of 6.57% 2022 to 2030. A rise in geriatric population and certain specific diseases is driving the growth of assisted walking devices market,” states the Research Manager at Straits Research P. Ltd.
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The increase in the elderly population has increased the market for walking assist devices. According to the World Health Organization (WHO) 2020 report, the prevalence of rheumatoid arthritis ranges from 0.3% to 1% and is more prevalent in developed countries and among women. Consequently, as the global geriatric population grows, so does the global demand for walking assist devices. According to the World Health Organization (WHO), approximately 15% of the global population is impaired in some way. As a result of their use in rehabilitation programmes to gradually restore body balance and promote muscle function in sedentary, disabled individuals, the rising number of surgical procedures generates a high demand for assisted walking devices. Consequently, the increasing prevalence of debilitating neurological diseases, rheumatoid arthritis, and osteoarthritis has contributed to the growth of the assisted walking device market over the forecast period.
Access to equipment demonstrations at centres that provide patients with pertinent advice regarding the selection of equipment suited to a specific disability is made possible by initiatives sponsored by government and private organizations. The governments of the countries, the United States and the United Kingdom, provide special grants to physically-challenged patients in order to purchase this equipment. Independent organizations, such as Charity search, the Disabled Information and Advice Lines (DIAL) network, Rica, and Shop mobility, are actively engaged in providing a variety of services for physically disabled people seeking solutions. The Priority Assistive Products List has been published by the World Health Organization (WHO) to promote equitable access to assistive mobility devices for those in need, as well as to outline reimbursement policies and provide guidance regarding the purchase of these devices.
Due to the presence of a large geriatric population in this region, North America held the highest revenue share in 2021 at nearly 35.6%. The market in this region is primarily driven by the presence of advanced healthcare facilities and well-established reimbursement policies. In addition, the high prevalence of target diseases, such as arthritis, Parkinson’s disease, and other chronic disabilities in this region is anticipated to have a substantial impact on the market’s growth over the next nine years
During the forecast period, the Asia-Pacific region is anticipated to experience the highest CAGR of nearly 7.5%. The staggering geriatric population count in Asia-Pacific nations such as China, India, and Japan, the rising prevalence of chronic deformities in the population residing in this region, the increase in public and private healthcare expenditures, and the rise in disposable incomes are significant contributors to the rapid expansion.
- This market can be segmented on the basis of product type, geographical regions and competitors.
- By 2030, North America is anticipated to have the largest market share, with the Asia Pacific emerging as the fastest-growing market.
The market for walking aids is fragmented, competitive, and populated by a number of major players. To increase their market shares and production, numerous businesses have adopted diverse strategies, including partnerships, mergers and acquisitions, product launches, and the introduction of new technologies. Honda Motor Co. Ltd, GF Health Products Inc., Ossenberg GmbH, Homecare Product Inc., Invacare Corporation, Better Life Healthcare Ltd, Karma Healthcare Ltd, Besco Medical Co. Ltd, Permobil Inc., and Sunrise Medical LLC are some of the companies that currently dominate the market.
- Invacare Corporation will release the Invacare® AVIVA® STORM RXTM motorised wheelchair in February 2021.
- WHILL is experimenting with generative designs to develop intelligent products for more agile and lightweight personal electric mobility vehicles.
- With the intention of providing users with a more convenient lifestyle and enhanced mobility, businesses have invested in self-balancing wheelchairs that can easily ascend and descend stairs.
- The Swiss company Küschall claims to have created the world’s lightest wheelchair made from graphene. These inventive designs also provide enhanced security. Küschall, for instance, asserts that its cutting-edge wheelchairs are designed to reduce arm fatigue and injuries.
Product Type Outlook:
- Gait Trainers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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