Walking Assist Devices Market

Walking Assist Devices Market Outlook (2022-2027)

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.

Report Attributes	Details
Walking Assist Devices Market Size (2022)	US$ 6.5 Billion
Projected Market Value (2027)	US$ 7.4 Billion
Global Market Growth Rate (2022-2027)	2.6% CAGR
Market Share of Crutches	60%
Share in Assist Devices Market (2022)	30%
Key Companies Profiled	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

Demand Analysis of Walking Assist Devices (2017-2021) Vs. Market Estimations (2022-2027)

“Increasing Prevalence of Incapacitating Neurological Disorders among Patients Driving Market Expansion”

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.

Market growth is attributed to the rising demand for these devices due to the increasing prevalence of incapacitating neurological disorders and injuries among patients.

The increasing geriatric population, the rising prevalence of target diseases, including Parkinson's disease and arthritis, and the increase in surgical procedures performed worldwide are key contributors to market expansion. In addition, financial assistance and initiatives launched by public and private organizations to promote the adoption of assistive mobility devices are anticipated to stimulate market revenue.

Why is the Need for Walking Assist Devices Rising Steadily?

“Increasing Initiatives by Government Organizations to Help Physically Disabled Patients”

Initiatives sponsored by government organizations allow for access to equipment presentations at centers that provide patients with crucial advice on the selection of equipment suitable for a certain handicap. VAT for mobility aids is not charged to those with long-term disabilities or chronic illnesses.

Government organizations may offer specific incentives to help patients who are physically unable to buy this equipment. Independent organizations are actively engaged in providing a variety of services to help those with physical limitations. The Priority Assistive Products List was made public by the World Health Organization (WHO) to promote equitable access to assistive mobility equipment for those who require it, to set forth rules for payment, and provide purchasing guidance.

In addition, it is expected that an increase in the percentage of people who are unable to walk will be influenced by the increased prevalence of severe neurological conditions, osteoarthritis, and rheumatoid arthritis. Support, balance, and, finally, the ability to live freely are all provided by walking assist products.

The main factors driving the global walking assist devices market are the increased incidence of osteoarthritis and rheumatoid arthritis, the high demand for disabled and elderly assistive technologies, and the rising need for rehabilitation devices.

“Increased Investments in Robotic System Innovation”

Increased investments in robotic system innovation and rising healthcare spending are positively impacting the growth of the world market for walking assistance systems. In addition, expanding e-Commerce sales and direct-to-consumer marketing awareness contribute to market trends for walking assistance devices.

The market for walking assistance equipment is growing thanks to the quick technological advancements in healthcare services. The global market is anticipated to grow over the coming years due to the increasing prevalence of neurodegenerative diseases. Furthermore, technological developments are modernizing existing assistive devices, which are anticipated to act as market growth drivers over the forecast period.

What Could Inhibit Walking Assist Devices Market Growth Potential?

“High Cost of Walking Assist Devices and Certain Worries about Them Restraining Market Growth”

Elements that are preventing the expansion of walking assistance solutions include an increase in the cost of walking assistance devices and certain worries about them.

Assistive technology enables persons with special needs, such as those who use wheelchairs or crutches, to accomplish various tasks. A person who relies too heavily on technology and does not make an effort to learn how to deal with their limitations may even go backward.

Some applications of assistive technology are excessively complex and challenging to use. This has a psychological effect on the individual and intensifies their frustration. These problems are impeding market expansion for walking assistance devices.

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.

Country-wise Insights

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.

Why are Providers of Walking Assist Devices Attracted to China?

“Growing Public Awareness about Walk-assist Robots for Disabled People”

The walking assist devices market in China is expected to rise at a CAGR of 4.5% over the forecast period. Wheelchair usage is rising as a result of the prevalence of chronic inflammatory joint diseases, which is driving market expansion.

Significant factors in the rapid expansion include an increase in the elderly population, rising healthcare expenditure, an increase in public and private healthcare spending, and an increase in disposable income.

The market is expanding due to increased spending by key businesses on R&D, government support for robot development, an increase in children with developmental disabilities, and rising public awareness of walk-assist robots for the disabled.

Category-wise Insights

Which Product Type is Expected to Gain Immense Popularity?

“Rising Demand for Crutches to Improve Person's Balance and Stability While Walking”

Based on the product type, the walking assist devices market is divided into gait belts & lift vests, canes, crutches, walkers, wheelchairs, and power scooters. Crutches account for 60% share of the global market.

Crutches improve a person's balance and stability while walking by reducing the weight-bearing impact on the handicapped leg. In addition, 25% of people with osteoarthritis are unable to carry out their main daily tasks, and 80% of individuals with the condition have mobility restrictions. Therefore, it is projected that further crutch innovation and the rise in arthritis prevalence would result in segment growth.

With the help of medical crutches, a person or patient can transfer their weight from their legs to their upper body. People who have short-term injury issues to chronic disabilities have used these. The introduction of advanced medical crutches, an increase in the frequency of lifetime disabilities, and an increase in the number of crashes leading to disability globally are some of the factors contributing to the segment growth.

Which Distribution Channel Accounts for the Highest Sales of Walking Assist Devices?

“Rising Preference of Consumers for Online Platforms”

The market is segmented into online and offline based on the distribution channel. The global walking assist devices market is dominated by the online segment in terms of revenue owing to the rising preference of consumers for the online platform.

Market demand is anticipated to increase during the forecast period due to the massive influence of major players' various online portals for walking assistance devices, such as assistive devices and mobility scooters, as well as the abundance of available walking assistance device options and significant discounts.

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 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