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The global assisted walking device market size was USD 5.4 billion in 2022 and is expected to reach USD 10.79 billion in 2032

NEW YORK, NY, UNITED STATES, May 5, 2023 /EINPresswire.com/ -- The Assisted Walking Devices Market worldwide was USD 5.4 billion in 2022, and it is expected to increase to USD 10.79 billion by 2032, with a revenue CAGR of 8% during the forecast period. The market's revenue growth is driven by several factors, including an ageing population, which is at an increased risk of mobility impairments, falls, and injuries. The World Health Organization (WHO) predicts that there will be 1.5 billion people worldwide who are 65 or older by 2050, resulting in a rise in the demand for assistive walking aids such as canes, crutches, walkers, and rollators.

The demand for aided walking devices is also driven by the growing incidence of illnesses and accidents that restrict mobility. According to the WHO, almost 1 billion people, or 15% of the world's population, live with a handicap. Moreover, the market's revenue growth is boosted by technological advancements in assistive walking aids, such as sensors, smart technologies, and AI integration, which increase mobility, stability, and safety.

Consumers prefer portable and lightweight technology, which is why manufacturers are creating foldable, lightweight products that are simple to store and travel with. Nonetheless, the market faces several challenges, such as the high cost of devices, restrictive reimbursement regulations, and a general lack of awareness about the accessibility and advantages of these devices. In addition, there are difficulties with the use, comfort, and design of aided walking devices, which may make it difficult for some users to adjust to them.

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Segments Covered in the Report –

The assisted walking device market is categorized into various product types, including crutches, canes, walkers, rollators, gait trainers, and others. Crutches are one of the most popular walking aids and are used to help people with lower leg injuries, while canes are used to provide support to people who need assistance with balance or stability. Walkers are commonly used by elderly people who require support while walking, while rollators are a popular choice for those who need additional support and mobility.

Gait trainers are specialized walking aids used to help children and adults with neurological or developmental disorders to develop walking skills. Other types of assisted walking devices include orthotic braces and prosthetics, which are designed to help individuals with specific disabilities or injuries.

The assisted walking device market is also segmented by end-use, with major categories including hospitals, rehabilitation centers, home care settings, and others. Hospitals are the primary end-users of assisted walking devices, as they are typically the first point of care for individuals with mobility impairments.

Rehabilitation centers are also significant end-users of assisted walking devices, as they help people recover from injuries or illnesses that affect their mobility. Home care settings are increasingly important in the assisted walking device market, as more people are choosing to receive care at home rather than in a hospital or rehabilitation center.

Other end-users of assisted walking devices include long-term care facilities, nursing homes, and assisted living facilities. The increasing demand for assisted walking devices in various end-use settings is a key driver of market growth, as more people require support and mobility aids to maintain their independence and quality of life.

In conclusion, the assisted walking device market is diverse and dynamic, with a range of product types and end-use settings. The market is driven by factors such as an ageing population, increasing prevalence of illnesses and accidents that restrict mobility, and technological advancements in assistive walking devices. As demand for assisted walking devices continues to rise, manufacturers are developing new and innovative products to meet the needs of a growing and diverse market.

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Strategic development:

Invacare Corporation recently introduced the TDX SP2 Power Wheelchair with LiNX technology in 2021, which has an advanced suspension system that provides a smooth ride to its users. The wheelchair is also customizable to meet the specific requirements of each user.

In 2020, ArjoHuntleigh acquired AirPal, a firm that specializes in patient transfer solutions, with the goal of enhancing its product portfolio and expanding its global presence. The acquisition is intended to provide ArjoHuntleigh with a competitive advantage in the market.

In 2020, Drive DeVilbiss Healthcare acquired the Sidhil Group, a UK-based medical bed and furniture manufacturer. The acquisition is aimed at expanding the company's product offerings and strengthening its position in the European market.

Koninklijke Philips N.V. introduced the IntelliVue X3 patient monitor in 2020, which is a powerful tool for healthcare providers. It is capable of providing real-time data on a patient's vital signs and can be used with a variety of medical devices, making it a valuable tool for healthcare providers.

Competitive Landscape:

The global market for assisted walking devices is on the rise due to the increasing incidence of chronic diseases and disabilities such as arthritis, multiple sclerosis, and Parkinson's disease. The market is highly competitive and fragmented, with a large number of small and large players operating in the market. Some major players in the global assisted walking device market include Invacare Corporation, ArjoHuntleigh, Graham-Field Health Products, Inc., Drive DeVilbiss Healthcare, Ottobock SE & Co. KGaA, Permobil Inc., Medline Industries, Inc., Sunrise Medical (US) LLC, Koninklijke Philips N.V., and Essential Medical Supply.

The market is being driven by a variety of factors, including an aging population, an increasing prevalence of disabilities, and technological advancements in assisted walking devices. The demand for assisted walking devices is expected to rise due to the growing number of elderly people worldwide. Additionally, the rising occurrence of accidents, surgeries, and illnesses that result in temporary or permanent mobility limitations is driving the market.

Manufacturers are integrating sensors, smart technologies, and Artificial Intelligence (AI) into their products to enhance mobility, stability, and safety. The market is also witnessing a growing trend towards portable and lightweight devices, which are easy to use and store. However, the market faces challenges such as high device costs, restrictive reimbursement regulations, and a lack of knowledge about the benefits of these devices, as well as difficulties related to device use, comfort, and design.

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