The global assisted walking devices market was surpassed at USD 3.5 billion in 2021 and is expected to hit around USD 6.3 billion by 2030, growing at a CAGR of 6.75% from 2022 to 2030.
The high growth of the market is anticipated due to the steep increase in the geriatric population, the rising prevalence of chronic disorders such as Parkinson’s disease, arthritis, tendonitis, and conversion disorder, and the rising demand for rehabilitation devices and equipment succeeding procedures.
Furthermore, apart from the government and private institution's initiatives to encourage the use of these assistive walking devices to support the physically challenged, the technology advanced innovations are also transforming the current assisted devices, which are expected to serve as a key factor for the market growth during the forecast period.
With the COVID-19 pandemic, there are massive economic suffering and health problems around the world. For instance, obesity, it has been observed that obesity represents a risk factor for a more serious and complicated course of coronavirus in adults. The outbreak has had a significant impact on the population’s health and health-related issues. Lengthy social isolation due to global restrictions, whether imposed by others or self-imposed increased the risk of developing depression, anxiety, and high stress.
These pandemic-related factors have affected two very important health-related behaviors associated with dietary behaviors, physical inactivity, and excess weight gain, leading to the major adoption of walking devices by bariatric patients. This has impacted the market to grow during the pandemic.
With the aging population on the rise, the global prevalence of arthritis is also escalating in accordance. According to the Centers for Disease Control and Prevention, by 2040, 78 million people will be suffering from arthritis in the U.S. Furthermore, due to a surging aging population, there is a higher risk factor impacting personal mobility as old age increases the susceptibility of an individual towards developing chronic conditions, hence increasing the demand for personal mobility devices such as walking devices. The rising global base of people aged 65 and above is also likely to contribute to the market growth of the market.
The key players are actively participating in the development of novel walking devices that will create a considerable impact on the quality and durability of the devices thereby influencing the market growth.
Scope of The Report
|Market Size in 2021||USD 3.5 Billion|
|Revenue Forecast by 2030||USD 6.3 billion|
|Growth rate from 2022 to 2030||CAGR of 6.75%|
|Forecast Period||2022 to 2030|
|Companies Covered||Medline Industries; Karman; Benmor Medical; Briggs Healthcare; Carex Health Brands; TOPRO; Invacare Corporation; Drive medical design; Eurovema AB; HUMAN CARE|
Product Type Insights
In 2021, the walker's segment accounted for the maximum share of nearly 62.7% and is expected to dominate the market during the forecast period. Walkers are preferred over other mobility devices due largely to enhanced stability provided by this equipment, which enables walking independently without assistance, and the provision of wider support, provided by these mobility devices as compared to other walking devices thus promoting physical activity in physically-handicapped individuals. These aforementioned factors are also responsible for the rising demand for walkers as rehabilitation equipment.
However, 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, rise in the number of 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.
In 2021, North America held the maximum revenue share of nearly 35.6% on account of the presence of a large geriatric population in this 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 at subsidized rates for disabled patients is expected to propel this market during the forecast period.
The Asia Pacific region is expected to witness the highest CAGR of nearly 7.5% during the forecast period. Key determining factors contributing to the high growth include the daunting geriatric population count in the Asia Pacific countries, such as China, India, and Japan, the increasing prevalence of chronic deformities in the population present in this region, the hike in public and private healthcare expenditures, and the rise in disposable incomes.
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