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Walking Assist Devices Market - Forecast(2024 - 2030)
Walking Assist Devices Market Overview
Walking Assist Devices Market size is estimated to reach $8.34 billion by 2026, growing at a CAGR of 4.1% during the forecast period 2021-2026. Walking assist devices support the raise of mobility independence of senior citizens or specially-abled by offering instruments planned to assist with walking. Canes, gaits belts, lift vests, crutches, walkers, wheelchairs, and power scooters, are the different kinds of walking assist devices. The most typically utilized assistive walking devices are inclusive of canes, trekking poles, walkers, and braces. The kind of walking assist device utilized relies on the requirement and the actions to be performed. The increasing population of the elderly and communities afflicted with leg injuries or experiencing difficulties in walking or incapable of walking owing to some internal issue which is set to drive the Walking Assist Devices Market. The increased ready accessibility of mobility aids at subsidized rates for the specially-abled is set to propel the growth of the Walking Assist Devices Market during the forecast period 2021-2026. This represents the Walking Assist Devices Industry Outlook.
Report Coverage
The report: “Walking Assist
Devices Market Forecast (2021-2026)”, by Industry ARC, covers an
in-depth analysis of the following segments of the Walking Assist Devices Market.
By Distribution Channel: Online, Offline.
By Geography: North America (U.S, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Rest of South America) and Rest Of The World (Middle East, Africa).
Key Takeaways
- Geographically, North America Walking Assist Devices Market accounted for the highest revenue share in 2020 and it is poised to dominate the market over the period 2021-2026 owing to the growing population of the elderly utilizing canes, crutches, and wheelchairs and the existence of well-advanced healthcare sector in the North American region.
- Walking Assist Devices Market growth is being driven by heightening occurrences of rheumatoid arthritis and osteoarthritis requiring the application of walking assist devices like crutches, wheelchairs, and so on. However, walking assistive devices have risks of their own. For example, underarm crutches are established to result in a condition termed crutch paralysis which is brought about by excessive pressure on the nerves in the armpit. Unsuitable utilization of mobility aids can result in additional injuries. This is one of the major factors hampering the growth of the Walking Assist Devices Market.
- Walking Assist Devices Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Walking Assist Devices Market report.
Walking Assist Devices Market Share, By Distribution Channel, 2020(%)
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Walking Assist Devices Market Segment Analysis – By Product Type:
The Walking Assist Devices Market based
on product type can be further segmented into Cane, Crutch,
Walker, Gait Belt and Life Vest, Wheelchair, and Power Scooter. The Wheelchair Segment held the
largest market share in 2020. This growth is owing to the increasing count
of cases of degenerative neurological disorders like Alzheimer’s Disease and
Parkinson’s Disease worldwide among the elderly resulting in greater
utilization of wheelchairs.
Furthermore, the Crutches segment is
estimated to grow with the fastest CAGR of 4.7% during the forecast period
2021-2026 owing to the great demand worldwide for crutches as backing walking
devices and as the equipment utilized to offer rehabilitative care. Crutches lessen
the weight-bearing effect on the disabled leg and assist in enhancing the
balance and stability of the person while walking. As per the Centers For Disease
Prevention and Prevention (CDC), OsteoArthritis
(OA) affects over 32.5 million American mature grown-ups. The growing
incidences of osteoarthritis are driving the growth of the Crutches segment
during the forecast period 2021-2026.
Walking
Assist Devices Market Segment Analysis – By Distribution Channel:
The Walking Assist Devices
Market based on the application can be further segmented into Online and
Offline. The Online segment
held the largest market share in 2020. This
growth is owing to the increased inclination of consumers to the online medium
amidst the global lockdowns and stay-at-home restrictions in the wake of the
Coronavirus (COVID-19) pandemic. The increased availability of online websites
of key players of Walking Assist Devices like crutches and wheelchairs is
further propelling the growth of this segment.
Furthermore, the Offline segment is estimated to grow with the fastest CAGR of 4.9% during the forecast period 2021-2026 owing to the wide availability of different choices of walking assist devices like crutches and wheelchairs in physical showrooms of key players as life returns to some degree of normalcy amidst massive vaccination drives.
Walking Assist Devices Market Segment Analysis – By Geography:
The Walking Assist Devices
Market based on geography can be further segmented into North America, Europe,
Asia-Pacific, South America, and the Rest of the World. North America (Walking
Assist Devices Market) held the largest share with 33% of the overall market in
2020. The growth of this region is owing to the increasing count of innovative
product launches and the soaring concentration of key players like Invacare in
the region. Crutches and wheelchairs are some typical
walking assist devices. As per the Center For Disease Control And Prevention,
the percentage of mature grown-ups aged 18 and over who find it hard to walk or
climb steps is 18.6%. The different favorable services provided by private organizations to the advantage of the specially-abled
people are further driving the growth of the North-American region.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2021-2026. This growth is owing to factors like a boost in product innovations in walking assist devices by key players like Honda Motor Co. Ltd in the Asia-Pacific region. The increasing predominance of incessant inflammatory joint ailments like rheumatoid arthritis and osteoarthritis is resulting in increased utilization of wheelchairs which is fueling the progress of the Walking Assist Devices Market in the Asia-Pacific region.
Walking Assist Devices Market Drivers
Global Prevalence Of Degenerative Neurological Ailments Like Alzheimer’s Disease And Parkinson’s Disease Is Projected To Drive The Growth Of Walking Assist Devices Market:
As per the Centers For Disease Control And Prevention (CDC), in 2020, almost 5.8 million Americans were living with Alzheimer’s disease. Furthermore, as per statistics on Parkinson’s Disease (PD), it is supposed that PD affects 1 percent of the population aged over 60 and in general, almost 1 million Americans are living with PD, and nearly 60,000 Americans are diagnosed with PD every year. Both Alzheimer’s Disease and Parkinson’s Disease are medical conditions that may require the patient to use a wheelchair to get around. The increasing count of cases of Alzheimer’s Disease and Parkinson’s Disease and other such degenerative neurological disorders is resulting in greater utilization of walking assist devices like wheelchairs which is fueling the growth of the Walking Assist Devices Market during the forecast period 2021-2026.
Technological Innovations Are Expected To Boost The Demand Of Walking Assist Devices:
Technological innovations are driving the growth of
the Walking Assist Devices market. Walking assist devices include crutches,
wheelchairs, and so on. Honda has developed ASIMO (Advanced Step in Innovative
Mobility), the progressive humanoid robot planned to someday help people in
their everyday lives. ASIMO is not just a breakthrough in robotic research but
also its chief technologies act as a starting block for additional Honda
product developments like U3-X Personal Mobility, Stride Management Assist, and
Bodyweight Support Assist. Honda’s Stride
Management Assist device is planned to assist people with depleted leg muscles
but who can still walk. A motor assists in moving up each leg at the thigh as
it moves forward and backward. This extends the user’s stride, making it effortless
to cover longer distances at a higher speed. These kinds of innovations are driving
the growth of the Walking Assist Devices Market during the forecast period
2021-2026.
Walking Assist Devices Market Challenges
Regression And Complexity Are Hampering The Growth Of The Walking Assist Devices Market:
Specially-abled people like those who utilize crutches
or wheelchairs become capable of performing some tasks owing to assistive
technology. A person who over-relies on technology and does not try to
learn techniques to cope with his/her disabilities can actually regress. Certain
cases of assistive technologies are too complicated and difficult to utilize. This
influences the person psychologically and raises the frustration even more. These
issues are hampering the growth of the Walking Assist Devices Market.
Walking Assist Devices Market Landscape:
Partnerships, mergers and acquisitions, product
launches, and novel technology launches are key strategies adopted by players in
the Walking Assist Devices Market. The key companies of this market include:
- Invacare
- GF Health Products Inc.
- Honda Motor Co. Ltd
- Home Medical Products Inc.
- Ossenberg GmbH
- Karma Medical
- Besco Medical
- Permobil Inc.
- Sunrise Medical LLC.
- Pride Mobility Products Corp.
Acquisitions/Product Launches:
- In July 2021, Invacare introduced the Dolomite Brass rollator, providing a lightweight, trustworthy and economical solution, to assist individuals with their everyday actions. An intelligent extension to Invacare’s Dolomite series, that makes getting around with tiny personal belongings even more effortless.
- In May 2021, Invacare introduced the InvaSoft Hybrid mattress an ingenious non-powered support surface characterized by the most recent and most progressive hybrid technology. InvaSoft Hybrid is the outcome of a three-year research and development project including a comprehensive collaboration with tissue viability specialists.
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