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Assisted Walking Device Market Analysis, Statistics, Revenue, Demand and Trend Analysis Research Report by 2028

Reports And Data

Reports And Data

Market size: USD 2 Billion in 2020, Market Growth: CAGR of 1.04%, Market Trends: rapid developments in healthcare sector

NEW YORK, NY, UNITED STATES, December 3, 2021 / -- 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.

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Key Offerings of the Global Assisted Walking Device Market Report:

• Deep insights into the Assisted Walking Device market landscape
• Key details about the regional segmentation of the Assisted Walking Device market
• Analysis of the crucial market trends with regards to both current and emerging trends
• Extensive overview of the key manufacturers and prominent players of the industry
• Comprehensive study of the market segmentation and recent developments

Market Dynamics:

Ongoing efforts of key players to develop advanced therapeutics and drugs, rapid adoption of advanced technologies such as artificial intelligence, additive manufacturing, ad blockchain technologies, among others, and growing focus on precision medicine have led to rapid changes in the pharma and healthcare industry. Legalization and acceptance of medical marijuana, rising focus on connected devices in healthcare sector, and popularization of beyond-the-pill have further revolutionized the healthcare industry. The emergence of COVID-19 pandemic has played a crucial role in the progress of healthcare industry with rapid shift in focus on preventive healthcare, increasing awareness about health and wellness, growth of telemedicine and teleconsultation, and rapid adoption of advanced technologies to cater to the growing patient pool.

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Competitive Landscape:

The report offers a comprehensive overview of the competitive landscape of the market to offer key insights about the key companies operating in the market. The section discusses in detail the initiatives and innovations adopted by the key players to gain a strong foothold in the market. It also provides insights into mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others to offer a better understanding of the market.

Key companies in the market include:

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. are some key players in the global assisted walking device 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.

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For this study, Reports and Data has segmented the global assisted walking device market based on product, technologies, application, and region:

Product Type Outlook (Revenue, USD Billion, 2018 - 2028)

• Wheelchairs
• Walkers
• Walker cane hybrid
• Crutches
• Canes
• Gaits belts and lift vests
• Prosthetic Limb
• Power scooters
• Others

Application Outlook (Revenue, USD Billion, 2018 - 2028)

• Hospital
• Care Home
• Clinic
• Others

Regional Analysis:

The section covers a comprehensive analysis of key regions for production and consumption ratio, import/export analysis, supply and demand dynamics, regional trends and demands, and presence of prominent players in each region. The regional analysis segments also offers a country-wise analysis to offer panoramic view of the market and help investors, clients, stakeholders, and businesses better understand the opportunities and growth scope of the Assisted Walking Device market.

The regional analysis covers:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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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 client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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