Walking Aid Market to Boom: $5.2 Billion Industry by 2034 as Disabilities and Aging Population Rise | Future Market Insights, Inc.

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Dec 12, 2023, 10:55 ET

FMI study projects the walking aid market to grow at a 5.2% CAGR by 2034, driven by key trends, including technological advancements, the aging population, rising disability, and arthritis prevalence. This comprehensive report offers valuable insights and opportunities for stakeholders seeking to capitalize on the market's burgeoning potential.

NEWARK, Del., Dec. 12, 2023 /PRNewswire/ -- As per the latest analysis, the global walking aid market value is anticipated to total US$ 3.0 billion in 2024. Over the assessment period, walking aid sales are projected to expand with a CAGR of 5.7%, taking the overall valuation to US$ 5.2 billion by 2034.

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Multiple factors are expected to stimulate the growth of the walking aid market during the assessment period. These include the rising prevalence of disabilities, increasing cases of arthritis, a growing geriatric population, and favorable government initiatives.

The demand for walking aids is growing steadily due to the rising number of disabilities. People with disabilities benefit from walking aids, allowing them to walk safely and independently. These devices can significantly improve the quality of life of patients with disabilities and arthritis.

The rising geriatric population is acting as a catalyst triggering sales of walking aids. Older people are more prone to falls due to limb and bone weakness. The canes or walkers provide support and can be reliable for use.

An increasing number of patients undergoing surgeries also fuel the demand for walking aids. The effect of surgeries creates weakness. As a result, some patients are advised to use walking aids till they completely recover.

There is also a dramatic rise in the number of patients having arthritis or another prominent form of arthritis like osteoarthritis or rheumatoid arthritis. These medical conditions often cause joint pain, creating the need for walking aids.

Advancements in walking aids are making them more feasible than earlier. Integration of automation and sensors in these devices is making them attractive and fueling their demand, especially across developed regions.

Leading producers are putting their efforts into making new devices that are more effective and using new technology that can make walking aids useful in the long run. They are fusing different technologies to improve their current offerings.

For instance:

In May 2022, Sunrise Medical introduced the ZIPPIE Mini power wheelchair. The compact power wheelchair base has pediatric power seating. It gives kids the freedom to explore a range of environments in safety independently.

"The increasing geriatric population, rising disabilities, increasing cases of arthritis, and rising government initiatives are anticipated to boost the walking aid market during the forecast period," according to Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).

Key Takeaways from the Market Study-

The global market for walking aids is projected to total a valuation of US$ 5.2 billion in 2034.
Based on product, the rollators segment accounted for 47.1% of the market share in 2023.
By technology, the manual segment is expected to surge at a 6.0% CAGR through 2034.
By end user, the hospitals segment accounted for a dominant market share of 37.8% in 2023.
North America held a prominent share of 32.8% in 2023.
Sales in the United States are projected to soar at a 6.4% CAGR from 2024 to 2034.
The United Kingdom is poised to exhibit a CAGR of 7.1% CAGR through 2034.
Demand in China is predicted to increase at a 5.2% CAGR between 2024 and 2034.

Understand global, regional, and country-level parameters with growth opportunities, historical data (2019-2023), and forecasts (2024-2034). Buy this report today!

Market Competition

Invacare Corporation, Medline Industries, Levo AG, GF Health Products, Inc., OttoBock Healthcare GmbH, Sunrise Medical LLC, Meyra GmbH, Besco Medical, Hill-Rom, and Cardinal Health are key walking aid manufacturers listed in the report.

These key players are introducing innovative products for great usage. Also, they are doing strategic planning like mergers and acquisitions to expand their global footprint. For instance,

In April 2022, GF Health Care launched the Everest & Jennings® PureTilt Tilt-in-Space Wheelchair. The product offers secure and autonomous transitions that promote a patient's utmost comfort by tilting manually or by control.

Get More Insights

Future Market Insights (FMI) offers a unique perspective and actionable insights on the walking aid market in its latest study, presenting a historical demand assessment of 2019 to 2023 and projections for 2024 to 2034. The report is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on products–(rollators, walkers & gait trainers, canes and crutches), technology (automated and manual), and end-users (hospitals, ambulatory surgical centers, rehabilitation centers, and home care settings) across seven key regions of the world.

Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.

About Healthcare Division at Future Market Insights (FMI)

Future Market Insights (FMI) facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.

About the Author:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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