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.
However, factors such as costly assisted walking devices, mechanical issues, and high costs and difficulties associated with maintenance of these devices are key restraints that are expected to hamper growth of the global assisted walking device market.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1409
The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.
Key highlights in the report:
- The walker segment is expected to account for significant revenue growth over the forecast period. Among the products, the walker is most commonly used assisted walking device as it offers more stability, support and promotes enhanced physical activities.
- Among the application segment, the care home sector is projected to register highest revenue CAGR throughout the forecast period. High usage of assisted walking devices in rehabilitations centers, increasing number of patients with neurological conditions such as arthritis, Parkinson’s, and Alzheimer’s, and rising cases of chronic diseases, treatment, and surgeries are key factors supporting growth of the global assisted walking devices market.
- North America accounted for largest revenue share in 2020 and is expected to maintain its dominating position throughout the forecast period. High demand for assisted waking devices in geriatric population, well-established healthcare infrastructures and social care sectors, availability of latest and advanced assisted walking devices and rising investments in healthcare sector are key factors boosting market revenue.
- Asia Pacific market revenue is expected to register highest revenue growth of 10.6% between the forecast period. High prevalence of chronic deformities, rising number of neurological conditions, and increasing public and private sectors are some key factors fueling market growth in this region.
Research Methodology:
Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Assisted Walking Device Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.
Inquiry Before Buying @ https://www.reportsanddata.com/inquiry-before-buying/1409
Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled 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
Assisted Walking Device Market Segmentation:
Product Type Outlook:
- Wheelchairs
- Walkers
- Walker cane hybrid
- Crutches
- Canes
- Gaits belts and lift vests
- Prosthetic Limb
- Power scooters
- Others
Technologies Outlook:
- Low Tech
- Mid Tech
- High Tech
Application Outlook:
- Hospital
- Care Home
- Clinic
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Assisted Walking Device market over the forecast period?
- What are the major factors driving the growth of the Global Assisted Walking Device Market?
- What are the key challenges impacting the global Assisted Walking Device market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
Request customization on the report @ https://www.reportsanddata.com/request-customization-form/1409
Thank you for reading our report. For more details please connect with us and our team will ensure the report is customized to meet all the needs of clients. The report also offers a comprehensive regional analysis and specific countries can be included in the report according to the requirements.
Explore Latest Trending Research Reports By Reports and Data:
Prostate Cancer Diagnostics Market @ https://www.biospace.com/article/prostate-cancer-diagnostics-market-research-by-expert-growth-rate-industry-statistics-and-forecasts-to-2027/
Oncology Molecular Diagnostics Market @ https://www.biospace.com/article/oncology-molecular-diagnostics-market-analysis-detailed-growth-insights-till-2027/
Medical Digital Imaging Systems Market @ https://www.biospace.com/article/medical-digital-imaging-systems-market-size-demand-analysis-on-going-trends-status-forecast-2021-2027/
Lung Cancer Diagnostics Market @ https://www.biospace.com/article/lung-cancer-diagnostics-market-growth-rate-business-overview-and-application-forecast-to-2027/
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
LinkedIn | Twitter | Blogs
Read the innovative blog at https://www.reportsanddata.com/blogs
Check out our upcoming research report at https://www.reportsanddata.com/upcoming-reports
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update: https://www.youtube.com/channel/UChLqKTFLm6sVBLEUjnadIhQ/videos