This site uses cookies, including third-party cookies, that help us to provide and improve our services. Read More

Canes and Crutches Market

Canes and Crutches Market

Canes and Crutches Market Size, Trend Analysis & Competition Tracking By Product (Canes, Crutches, Accessories), By Distribution Channel (Hospital Pharmacies, Medical Retail Stores, Online Stores) – Global Market Insight 2020 - 2027

Canes and Crutches Market
FACT4419MR
  • Mar-2022
  • List of Tables : 32
  • List of Figures : 73
  • 170 Pages
  • Healthcare

Multiple Demographics Catalysing Demand for Canes and Crutches

Application of canes and crutches is moving beyond the primary demography-physically-challenged individuals-towards the geriatric population and patients suffering from chronic conditions. A study published by the United Nations foresees a rise in aging population to 2.1 Bn by 2050, up from 962 Mn in 2017.

Also, as per the International Osteoporosis Foundation, each year, rheumatoid arthritis is found to affect 41 individuals in 100,000 people. Given this alarming rise in chronic conditions and aging individuals, players are likely to witness parallel revenue streams driven by multiple demographics in the canes and crutches market.

An increase in the number of admissions to rehabilitation centres, on account of rising cases of substance abuse and alcohol addiction, is also likely to catalyse the adoption of canes and crutches, as patients tend to lose their balance during these programs. On the contrary, the inadvertent influence of social stigma and availability of viable substitutes are projected to limit the growth pace of the canes and crutches market to merely 3.7% CAGR during the forecast period (2020-2027).

Incremental opportunity analysis of canes and crutches market by distribution channel

Reimbursement Coverage of Advanced Walking Aids Could Create Growth Barrier for Canes and Crutches Market

The threat of substitutes is projected to remain low to moderate in the canes and crutches market. Knee walkers and wheelchairs, which require little or no upper body strength, are growing in prominence as strong alternatives to conventional canes and crutches.

The incorporation of advanced technology in walking aids is opening up avenues for the robotic exoskeleton, which is likely to address the needs of individuals who are finding it difficult to maintain balance while using canes and crutches. For instance, in August 2017, Bionik Laboratories Corp. announced the integration of voice assistant technology to develop an exoskeleton device that distributes weight evenly and reduces strain on specific body parts.

As opposed to the relatively low cost of conventional canes and crutches, technologically-driven walking aids are highly expensive, with prices ranging from US$ 45,000 to US$ 90,000. However, to assist physically-challenged individuals, governments offer reimbursement coverage of these advanced systems, which is projected to shift the attention of end users towards advanced equipment with comfort features. For instance, in February 2019, ReWalk Robotics announced that Cigna would reimburse the purchase of exoskeleton devices.

Online Stores to Outperform Sales Generated through Medical Stores & Hospital Pharmacies

Medical stores and hospital pharmacies stand to lose significant sales prospects to online stores, as this novel distribution channel offers the convenience of comparing prices and striking a cost-saving deal. Increasing inclination of individuals towards online shopping portals is encouraging e-Commerce majors to improve their delivery timeframe, which is resulting in next-day or same-day delivery. Easy availability in tandem with cost benefits offered by online stores are projected to close significant sales in the canes and crutches market during the forecast period.

Opportunity assessment of key regions in canes and crutches market

Regions with High Density of Geriatric Population Lead Canes and Crutches Market

Though the disabled populace is considered to be primary end users in the canes and crutches market, high adoption of walking aids is directly proportional to high density of the aging population.

As per a report published by the United Nations, Europe (Italy and Germany), followed by North America, have a relatively high number of geriatric individuals. Besides this, arthritis, osteoporosis, and similar movement-limiting conditions are found to be high among individuals in Europe, which is indicative of the strong demand in the canes and crutches market. Besides Europe, the U.S., and Japan have a large aging population, and these markets are likely to witness significant growth in the global canes and crutches market during the forecast period.

Avail customized purchase options for your needs

Canes and Crutches Market – Assessment of Key Segments

Authors of this comprehensive study have classified the canes and crutches market into key segments for an in-depth study of the market. Categorisation of the canes and crutches market is based on product, distribution channel, and region. This detailed study also offers information about the incremental opportunity present in the canes and crutches market during the forecast period. Key segments considered while studying the canes and crutches market include:

Product
  • Canes
    • Folding Canes
    • Quad Canes
    • Offset Canes
  • Crutches
    • Axillary Crutches
    • Forearm Crutches
  • Accessories
Distribution Channel
  • Hospital Pharmacies
  • Medical Retail Stores
  • Online Stores
Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

- FAQs -

United Nations, Europe (Italy and Germany), followed by North America, have a relatively high number of geriatric individuals of Canes and Crutches.
Canes and Crutches are highly expensive, with prices ranging from US$ 45,000 to US$ 90,000.

Need an Exclusive Report for your Unique Requirement?

- Related Reports -

Blenders Market

Blenders market expects to grow at a 4.8% CAGR during 2022-2032. Blenders market sales tend to reach...

Striped bass Market

Striped bass Market is expected to witness steady growth by 2028. The growing demand for seafood amo...

Tea Pitchers Market

Tea Pitchers Market is likely to witness steady growth during the forecast period, 2028. Basic Tea P...

Riveting Tools Market

Riveting Tools Market research report covers detailed information on Global Riveting Tools Market Si...

- Our Clients -

Report Client

- Evaluate How Fact.MR's Report Can Help. -

Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.