The global walking assist devices market is slated to increase from a valuation of US$ 6.5 billion in 2022 to US$ 7.4 billion by 2027 and expanding at a CAGR of 2.6%. Sales of crutches are anticipated to rise at a CAGR of 3% through 2027. Crutches are the most widely used walking aids and rehabilitative care equipment.
According to Fact.MR, a market research and competitive intelligence provider, the walking assist devices market is projected to evolve at a CAGR of 2.6% from 2022 to 2027.
Walking assist devices are offered for those who have experienced a leg injury. A walking aid unit helps patients execute tasks on their own when they are unable to do so or encounter difficulties doing so. Rapid technological advancements in healthcare, rising assistive technologies demand for the visually impaired, and the expansion of programs by government organizations to ensure accessibility of walking assist devices to the geriatric population are significant factors that are anticipated to fuel the growth of the walking assist devices market over the coming years.
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How are Start-ups Sculpting Their Progress in This Competitive Space?
“Aspiring Market Players Focused on Upgrading Technology and Experimenting with Latest Equipment”
New entrants concentrate on extending their global distribution networks to expand into emerging regions while also investing in the creation of highly advanced walking assist devices. To provide greater ease, new companies concentrate on upgrading technology and experimenting with the latest equipment.
A Toronto-based start-up, Trexo Robotics is offering reasonably priced, wearable robotic devices that are specially made for children who have trouble walking. Compared to conventional gadgets, the design uses less energy and takes up less room, making it simpler to store and use. The Toronto-based firm now caters to kids, but eventually hopes to develop solutions that are usable by individuals of all ages and abilities.
Which Region Accounts for High Sales of Walking Assist Devices?
“Availability of Walking Help Devices at Discounted Prices for Patients with Disabilities in North America”
North America leads the walking assist devices market. The advanced healthcare infrastructure and favorable reimbursement policies are driving market growth in the region. It is projected that the high prevalence of target diseases and other chronic disabilities would have a significant impact on market growth over the coming years.
Market expansion is fueled by an increase in the percentage of obese people, technological innovations in the healthcare sector, growing sales of canes and crutches, an increase in the number of people with disposable income, and the availability of walking help devices at discounted prices for patients with disabilities.
How is the Market for Walking Assist Devices Progressing in the U.S.?
“Increase in Rheumatoid Arthritis Cases Driving U.S. Market Value”
The market in the U.S. is driven by the presence of leading walking assistance device manufacturers, rising demand for exoskeleton walking assist devices, private organizations providing a range of supportive services for the benefit of physically disabled people, and an increase in rheumatoid arthritis cases.
The market is expected to rise over the forecast period as a result of rising leasing product activities, debilitating neurological injuries, and possible increases in the use of walking assistance equipment.
The market for walking assistance devices is anticipated to rise due to the rising government reimbursement and financial support from other investment businesses, and an increase in the number of innovative product launches.
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Competitive Landscape
Key players in the walking assist devices market are actively involved in the production of innovative mobility devices for walking that will have a significant impact on the quality and longevity of the devices, influencing market expansion.
For instance :
In 2022, Cionic introduced bionic clothes to assist patients with walking issues caused by neurological disorders such as multiple sclerosis, Parkinson’s disease, and cerebral palsy.
Key Market Players:
- Levo AG
- MEYRA GmbH
- Ossenberg GmbH
- Permobil
- Drive Medical
- Besco Medical Limited
- Betterlifehealthcare Ltd.
- Comfort Orthopedic Co., Ltd.
- Electric Mobility Euro Ltd.
- GF Health Products, Inc.
- Invacare Corporation
- Karma Healthcare Ltd.
- Otto Bock Australia Pty. Ltd.
- Pride Mobility Products Corporation
Key Segments in Walking Assist Devices Industry Research
By Product Type :
- Gait Belts & Lift Vests
- Canes
- Crutches
- Walkers
- Wheelchairs
- Power Scooters
By Distribution Channel :
- Online
- Offline
By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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