Assisted Walking Devices Market Moving Ahead With A CAGR Of 6.4% During The Forecast Period 2022-2032
The global assisted walking devices market demand is augmented to hold the market revenue of USD 3.62 Billion in 2022 while it thrives on the CAGR of 6.4% between 2022 and 2032. The market is anticipated to reach USD 6.33 Billion by 2032.
Increased average old age, huge consumer base coupled with increasing incidences and rise in prevalence is summing up and fueling the sales of assisted walking devices like walkers, rollators, knee scooters, wheelchairs etc.
New research report on assisted walking devices states that lifestyle and age-based health diseases like Parkinson, arthritis and other prevalent diseases have rocketed the sales of assisted walking devices. The government financial support and initiatives are also thriving the sales of assisted walking devices.
Neurological diseases & injuries are also pushing the demand for assisted walking devices. The growing geriatric population is leading to disability and knee weakness. Walking assist devices provide balance, support, and ultimately, the subsequent ability to survive independently. The aforementioned factors are responsible for the increasing geriatric population getting attracted to these devices.
Demand for assisted walking devices has increased from the last forecast period as governments have increased healthcare expenditure and funding for technological integration like the use of robotics in these assistive devices to help the patient.
Government initiatives run to distribute these walking devices like walkers and wheelchairs to the poor people also consume a huge chunk of assisted walking devices. Additionally, patients with chronic illnesses and standing disabilities are exempted from paying VAT on mobility products, pushing the sales assisted walking devices.
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What are the Major Driving Factors for the Assisted walking devices Market?
Latest technological integration with the assistive devices that help the disable end users are holding hands with the government and private spaces to adopt these innovative devices that help walking disabled people.
Product and geography are the driving factors for assisted walking devices. The equipment employed people who suffered from certain disease are pushing the sales of assisted walking devices. The growing rates of accidents are leading to people with disabilities. Walking disabilities are pushing the demand for assisted walking devices. Increasing cases of arthritis consume walking devices. The increased prevalence of target diseases including Rheumatoid Arthritis and Parkinson’s disease is expected to propel the usage rates of assisted walking devices during the forecast period.
Rising cases of rheumatoid, surging demand for rehabilitation equipment and osteoarthis are increasing the demand for assisted walking devices.
What are the Possible Limitations for the Assisted Walking Devices Market Future Trends?
Covid-19 and its spread has damaged the assisted walking devices market by affecting the manufacturing units and logistics operations while advanced surgeries are also limiting the demand for assisted walking devices.
The major market restrictions are the spread of covid-19, advanced knee and osteosis surgeries and post pandemic healthcare solutions have declined the growth of assisted walking devices market. The lower investments through government schemes are slowing down the sales of assisted walking devices. The higher cost of purchasing walking assist devices is another factor that restricts the sales of assisted walking devices.
The assisted walking devices market survey explains that the use of platforms like artificial intelligence, machine learning and robotics are shaping the trends for the market. The manufacturers look for new innovative ideas to make sure that the end user gets the most of the help. While AI helps in making the wheel chair more mobile with the voice command feature, the robotics used in other devices are helping the end user while pushing the overall sales of assisted walking devices, increasing the sales of assisted walking devices.
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The high number of accidents happening leads to the use of these devices more often. Introduction of the latest advanced mobility scooters, automated rollators and transfer lifts.
Category-wise Insights for Assisted walking devices Market
Which Vehicle Type of Assisted Walking Devices are Most Preferred in the Global Market?
According to the assisted walking devices market analysis states that walker segment is the leading vehicle type segment in the assisted walking devices market. The other segments from the vehicle type are Canes, Crutches and Gait Trainers. This segment holds 62.7% of the global revenue. The factor adding to the growth of this segment is its enhanced stability by this equipment, higher mobility and it’s helping factor in physical activities in physically handicapped individuals. This pushes the overall sales of assisted walking devices globally.
While, the gait trainers’ segment is expected to witness a maximum CAGR of 8.6% during the forecast period. This is due to the rising number of cerebral palsy and Parkinson’s disease, proliferating spinal injuries, and increase in the number of stroke cases in adults are some of the factors responsible for the growth of the gait trainer segment, increasing the sales of assisted walking devices.
Regional Analysis
How is the Performance of North America Assisted Walking Devices Market?
North America is forecasted to hold 35.6% of the revenue in the global assisted walking devices market by the end of 2032.
The growing assisted walking devices market is attributed to the geriatric population in the region, The presence of advanced healthcare facilities and well-developed reimbursement policies are the key factors driving the market in this region.
Moreover, the high prevalence of target diseases, such as arthritis, Parkinson’s disease, and other chronic disabilities in this region is expected to act as a high impact rendering driver for the market expansion over the next nine years. Furthermore, the availability of these mobility devices like walkers, knee rollers etc. at tax free rates for disabled end users is likely to propel this market during the forecast period.
What is the Growth Outlook for the Asia Pacific Assisted Walking Devices Market?
Asia Pacific is likely to thrive on the CAGR of 7.5% share in the assisted walking devices market, generating huge revenue.
Emerging trends in assisted walking devices market explains that the growth attributed to proliferating geriatric population count in the Asia Pacific nations, such as China, India, and Japan, the increasing cases of chronic deformities in the present population in this region, the rise in public and private healthcare investments, and the rise in disposable incomes. This gives an overall push to the sales of assisted walking devices.
How is the Start-up Ecosystem in the Assisted Walking Devices Market?
Assisted walking devices market report explains that the start-up scenario is not untouched from Assisted walking devices. The latest innovations affect the overall market space. The use of a button to get the tints up and down is one of the latest ideas that generate traction for new market players. The latest technology is an addition to the already existing dynamic glass model. Dynamic glass can transition from being transparent to a tinted and back. This technology is slowly landing up on the market surface, increasing the overall demand for Assisted walking devices. Though, these films are expensive and slow, taking more than 20 minutes to fully tint. Manufacturers and startups are working for the improvement of the latest technology.
Competitive Landscape for the Assisted Walking Devices Market
The assisted walking devices market has various key competitors that focus on expanding their supply chain while expanding the sales channel. The key competitors focus on advancing technology and experimenting with the latest tools to deliver better convenience. This makes the competitive landscape more dynamic and versatile, owing to the expansion of assisted walking devices market size.
The key players contributing to the growth of Assisted walking devices are Karman; Benmor Medical; Briggs Healthcare; Carex Health Brands; TOPRO; Invacare Corporation; Drive medical design; Eurovema AB; HUMAN CARE
Recent Developments in Global Assisted walking devices Market
- Invacare Corporation increased by 2.6% from 2020 to 2021 attributed to the better cost strategy in supply-chain, distribution channels and administrative functions under its global IT modernization initiative that covers the optimization of operations structure of the company, pushing the demand for assisted walking devices.
- Phoenix Instinct is the first lightweight wheelchair with smart technology which comes with a carbon fiber body and other life-enhancing features. This motivates the other competitors while fueling the sales of assisted walking devices.
Global Assisted walking devices Market Key Players
- Karman
- Benmor Medical
- Briggs Healthcare
- Carex Health Brands
- TOPRO
- Invacare Corporation
- Drive medical design
- Eurovema AB
- HUMAN CARE
- Phoenix Instinct
Assisted walking devices Market by Segmentation
By Product Type:
- Canes
- Crutches
- Walkers
- Gait Trainers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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