Walking Assist Device Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
The Walking Assist Device is expected to experience a positive response in the upcoming years. In terms of value, the market is poised to mask a CAGR of 5.9% during the projected period. Further, the market was deliberate at USD XXX million in 2018 and is anticipated to reach a notable valuation by the end of the forecast period. The walking assist is a walking device are mainly designed for people who are suffering from leg injury or also for the people who are unable to walk by their own due to weak leg muscles. These devices are also used by people who face the problem of body balance during walking due to nervous system diseases such as Parkinson’s disease and Alzheimer disease. The walking assist devices are available with two forms such as four wheels and two wheels.
Growth Drivers and Restraints
In this advanced healthcare technological era, the world is moving towards the advanced healthcare technologies which are boosting the market growth of the walking assist device market. Moreover, the increasing incidences of debilitating neurological diseases & injuries among patient are the growing need for walking assist devices. Besides this, the government initiatives of various countries to offer walking assist devices to a huge needy consumer base are augmenting the growth of the walking assist device market.
Moreover, the increasing geriatric population base is fueling the growth of the walking assist device market across all regions. According to the WHO (World Health Organization), the demand for the walking assist devices is rising amongst the geriatric population due to benefits, such as the provision of support, balance, and the subsequent ability to live independently. By product, the walking assist device is classified into gaits belts, life vests, canes, crutches, walkers, wheelchairs, and power scooters. Among them, wheelchairs segment of the walking assist device market is the largest and the fastest growing segment. As rising adoption of walking assist device among the geriatric population and the patients who are suffering from mobility impairment due to spinal cord injuries and paraplegia are some of the leading factors for the growth of the wheelchair in walking assist device market. Further, technological advancements and product leasing are major factors that are positively influencing the growth of the walking assist device market. Region-wise, North America is the strongest region for the walking assist device market.
Rising investment in healthcare infrastructure and the highest adoption rate for walking assist device due to neurological diseases among geriatric population base are resulting in increasing demand for walking devices in North America.
Further, the presence of supportive government policies for healthcare infrastructure is projected to drive the growth of the walking assist device in North America as compared to other countries.
However, the high cost associated with walking assist devices is one of the barriers to the growth of the walking assist device market.
The research offers a comprehensive analysis of walking assist device market with respect to following sub-markets:
By Product Type
- Gaits Belts
- Power Scooters
By Distribution Channel
- Online Store
- Offline Store
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as,
- Honda Motor Corporation
- Permobil Incorporation
- Invacare Corporation
- Besco Medical Corporation
- Betterlifehealthcare Ltd.
- C.T.M. Homecare Product
- Ossenberg GmbH
- Pride Mobility Products Corporation
- Sunrise Medical
- Aetna Incorporation
- Other Prominent Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as technology information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The study also provides company’s positioning and market share in walking assist device market.
Timeline Considered for Analysis:
- 2019- Base Year
- 2020 – Estimated Year
- 2020 to 2025 – Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the walking assist device market by the following segments:
- By Product Type
- By Distribution Channel
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Walking Assist Device Market Industry Report
- What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?