Walking Assist Devices Market to Reach $6.6 Billion, by 2032 at 6.3% CAGR: Allied Market Research

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Jan 09, 2024, 10:10 ET

Walking assist devices are innovative tools designed to provide support and enhance mobility for individuals facing difficulties in walking or maintaining balance. These devices cater to a diverse range of needs, accommodating various levels of mobility impairment. Some commonly used walking assist devices are gait trainers, walkers canes and crutches. These devices come in various configurations to cater to different needs, and advancements in design continue to enhance their effectiveness in assisting individuals with walking challenges.

WILMINGTON, Del., Jan. 9, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Walking Assist Devices Market by Product (Gait Trainers, Canes, Crutches, and Walkers), Age Group (Geriatric and Adults), and End User (Homecare, Hospital, and Other): Global Opportunity Analysis and Industry Forecast, 2023–2032.". According to the report, the global walking assist devices market was valued at $3.6 billion in 2022 and is estimated to reach $6.6 billion by 2032, exhibiting a CAGR of 6.3% from 2022 to 2032.

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Prime determinants of growth

The walking assist devices market has experienced significant growth rise in geriatric population and high adoption of walking assist devices for rehabilitation after surgeries and traumatic injuries.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$3.6 billion
Market Size in 2032	$6.6 billion
CAGR	6.3 %
No. of Pages in Report	240
Segments covered	Product, Age Group, End User and Region.
Drivers	Global surge in geriatric population High adoption of walking assist devices for rehabilitation after surgeries and traumatic injuries
Opportunities	Technological advancement in the walking assist devices.
Restraints	High cost of walking assist devices.

Economic Downturn Analysis: Impact of Recession in 2023 on the Walking Assist Devices Market

The global recession has significant impact on walking assist devices market.
The high inflation rate and the economic uncertainty has created financial distress for the manufactures of the walking assist devices.
The fluctuating oil prices due to dispute between major oil producing countries has caused in rise in supply chain cost.
However, the market for walking assist devices is expected to recover owing to rise in geriatric population.

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The walkers segment to maintain its leadership status throughout the forecast period

Based on product, the walkers segment held the highest market share in 2022, accounting for more than one-third of walking assist devices market revenue, owing to high adoption of walkers by geriatric population.

The geriatric segment to maintain its leadership status throughout the forecast period

Based on age group, the geriatric segment held the highest market share in 2022, accounting for more than two-thirds of walking assist devices market revenue. This is attributed to high mobility impartment among the geriatric population.

The homecare segment to maintain its leadership status throughout the forecast period

Based on end user, the homecare segment held the highest market share in 2022, accounting for more than two-thirds of walking assist devices market revenue. This is attributed to growing trend towards home based healthcare.

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The North America segment to maintain its leadership status throughout the forecast period

Based on region, the North America segment held the highest market share in 2022, accounting for more than one-third of walking assist devices market revenue. This is attributed to high number of knee and hip replacement surgeries being performed in this region and strong presence of key players. However, Asia-Pacific is expected to register highest CAGR during the forecast period, this is attributed to the rise in geriatric population in the region.

Leading Market Players: -

Compass Health Brands
Drive DeVilbiss Healthcare
Eurovema AB
GF Health Products, Inc.
Human Care HC AB
Invacare Corporation
Rifton Equipments
Classic Canes Limited
CAN Mobilities Inc
Ossenberg Gmbh

The report provides a detailed analysis of these key players in the walking assist devices market. These players have adopted different strategies such as product upgrade, and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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