The Global Assisted Walking Device Market is forecast to reach USD 2.18 Billion by 2032 The main focus of assisted walking devices is on assisting, rehabilitating, and adapting devices for individuals with a disability. It is with the help of assisted walking devices, individuals with disabilities are empowered to accomplish specific tasks that previously they were unable to perform. The major driving factor contributing to the global assisted walking device market is an increase in life expectancy and a rise in the geriatric population. This population is exposed to diseases like Rheumatoid Arthritis and other musculoskeletal issues. Hence, rise in geriatric population has a significant positive impact on the particular market.
However, it is worth mentioning here that, factors like the high cost of assisted walking devices, high cost of maintenance of devices involving assistive technologies, mechanical issues associated with assisted walking devices are some of the restraints that may harm the market.
The rise in the rate of occurrence of disabling neurological diseases like Alzheimer and Parkinson's disease has also contributed to the increasing demand for assisted walking devices. In addition to these factors, technological advancements are transforming assisted devices, which has also resulted in boosting the market. Initiatives are taken by the private and government institutions to promote the use of assisted devices and aids in helping physically challenged individuals to mobilize also catalyzing the global assisted walking device market.
North America holds the largest market share in this market in 2022. The reason for North America to lead the market is a rise in the geriatric population along with technological advancements in the arena of assistive technologies made by the key players of the region. Apart from that different initiative taken by the private and government organizations providing various support services to individuals with disabilities, are some of the factors that have resulted in North America to lead the market.
Key players are continuously focusing on technological advancements for improving assistive technologies that can be incorporated in assisted walking devices. Such efforts would not only help in enhancing assistive walking devices but also help in making it readily available.
Key Coverage of the Report
- Estimation of the market size along with historical and forecasted trend analysis.
- Various types of alternatives available have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- The regulatory framework of each region.
- Regional up-coming research and application outlook.
- Status of on-going developments.
- Regional prevalence of assisted walking market has been mapped.
- Demand and Supply GAP Analysis
- Regional Competitors Pricing Strategy
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Global Assisted Walking Device Market
- The global assisted walking device market is forecasted to grow at a rate of 1.04% in terms of value and reach USD 14 Billion by 2032.
- One of the main reasons for the increased demand for global assisted walking device market is the rise in geriatric population.
- In the year 2015, the geriatric population was 900 million. Such a large number of geriatric population has resulted in increased demand for assisted walking devices.
- In terms of region, North America dominates the market with a market share of 32% in the year 2022.
- Apart from the increase in geriatric population, government initiatives like special grants are being offered to disabled individuals for the purchase of assistive walking devices and well-structured healthcare, and social care sectors have resulted in North America to dominate the market.
- The reason for high demand of assisted walking devices in Europe is an increase in the rate of obese and geriatric population, government support to promote and buy these devices and rise in the spending capacity of the population.
- It is forecasted that Asia-pacific would register the highest growth rate of 2.1% during the forecast period.
- The reason for the growth of assisted walking device market in the Asia Pacific region is the increasing disposable incomes of the population and rise in private and public healthcare expenditure.
Companies considered and profiled in this market study
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.
The companies have focused on technological advancements to improve assistive technologies and assistive devices and come up with new developments in the market.
- The global assisted walking device market valued USD 1.97 Billion in 2022, and it is forecasted to reach USD 2.18 Billion by 2032.
- Among the geriatric population, an increase in demand for walking devices can be observed.
- This rise in demand of walking devices among the geriatric population is mainly because of benefits associated with it like provision of balance, support and the scope of empowerment and the opportunity to live independently that is made possible by assistive walking devices.
- Increase in the demand for assistive walking devices has also occurred because of the role it plays in enhancing the lives of individuals who are physically challenged.
- In terms of its application, it can be seen to be mostly applied in hospitals and care homes that held a market share of 33% and 29% in the year 2022, respectively.
- The reason the hospital segment holds the largest share of the market is because of diverse healthcare needs that require the application of assisted walking devices like accident and emergency, orthopedic surgeries, among others.
- Among the different product types, walkers can be seen to lead the market that holds a market share of 25% in the year 2022.
- The reason walkers lead the market is because it helps in walking independently and safely, minimizes discomfort and pain at the time of walking, provides with wider support as compared to other devices and its capacity of bearing heavy weight.
- In the segment technologies, low tech leads the market with a market share of 43% in the year 2022.
- The reason low tech leads the market is that it involves devices like crutches, and walkers, among others, which are user-friendly and requires limited maintenance cost.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. For this report have segmented the global assisted walking device market based on Product Type, Application, Technologies, and Region:
Assisted Walking Device Market Report Scope
Segments covered By Poduct Type Outlook, Technologies Outlook, Application Outlook, Regional Outlook
By Poduct Type Outlook
Walker cane hybrid
Gaits belts and lift vests
By Technologies Outlook
By Application Outlook
Middle East & Africa