High utilization of assisted walking devices in geriatric population, increasing rate of road accidents and emergencies, and rising prevalence of disabling neurological diseases like arthritis, Parkinson’s, and Alzheimer are key factors fueling global market revenue growth
The global assisted walking device market size is expected to reach USD 2.18 Billion in 2028 and register a CAGR of 1.04%, according to the latest report by Reports and Data. Key factors such as high number of physically challenged individuals, rising disposable income, rise in public and private healthcare spending, and increasing initiatives taken by various public and private sectors are driving global market revenue growth.
Assisted walking devices are extensively used for assisting, and rehabilitating individuals with disabilities. These devices help individuals to complete tasks independently. Assisted walking devices help physically challenged individuals with muscle functioning and restore balance and are used in various rehabilitation programs for promoting assistance post injuries and surgeries. Increasing elderly population, rapid developments in healthcare sector, technological advancements in assisted walking devices, availability of a variety of devices, high demand for rehabilitation equipment post surgeries is boosting global market growth. In addition, increasing incidence of road accidents and emergencies, growing awareness about these devices, and rising government funds are further fueling growth of the assisted walking device market.
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The rapid adoption of AI, ML, and IoT and robust data management processes has made the hospitals and clinical settings smarter. New technologies and solutions have improved the normal medical processes such as clinical diagnosis, treatment, diseases management, and monitoring patient recovery after discharge. Rapid digitalization and increasing adoption of virtual care and telemedicine is further expected to positively impact the revenue growth of the market going ahead.
Emergence of new healthcare and telemedicine startups, increasing number of collaborations among healthcare facilities and research institutions, and rising focus on patient engagement solutions has further fueled revenue growth of the market. Key companies are forming strategic alliances and collaborative ventures such as mergers and acquisitions, joint ventures, partnerships, manufacturing and licensing agreements, and product launches among others.
Leading Players Analyzed in the Report:
Permobil Inc., Invacare Corporation, GF Health Products, Inc., Honda Motor Co., Ltd., Betterlifehealthcare Ltd., Besco Medical Co., Ottobock, C.T.M. Homecare Product, Inc., Pride Mobility Products Corp., Sunrise Medical (US) LLC, Aetna Inc., Ossenberg GmbH, Electric Mobility Euro Ltd.
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Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered in the report.
The report further discusses in detail the regional spread of the global Assisted Walking Device market along with analysis of production and consumption patterns, import/export analysis, supply and demand ratio, market share and size based on volume and value, trends and demands, revenue share, and presence of the key players of the market.
Key Regions Studied in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Segmentation based on Types:
Product Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Wheelchairs
- Walkers
- Walker cane hybrid
- Crutches
- Canes
- Gaits belts and lift vests
- Prosthetic Limb
- Power scooters
- Others
Application Outlook (Revenue, USD Billion, 2018 - 2028)
- Hospital
- Care Home
- Clinic
- Others
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