As per the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, Walking Assist Devices Market is forecasted to increase at a CAGR of 2.6% from 2022 to 2027.
When used under the guidance of therapists and medical professionals, walking assist devices help injured individuals walk more easily. Basic design features include a light bodyweight and two or four wheels to assist users when they are walking. Rising prevalence of rheumatoid and osteoarthritis, soaring need for rehabilitation equipment, and rapid increase in the elderly population are the major drivers of the walking assist devices market.
Sales of walking assist devices are booming thanks to growing activities by key businesses. Demand for assistive walking aids is also being driven by neurological illnesses and traumas. The number of elderly people is increasing, which causes disability and knee weakness. Balance, support, and ultimately the capacity to live independently are provided by walking aids.
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Demand for walking assist devices is increasing as governments have raised healthcare spending and financing for technological integration, such as the usage of robots in walking assist devices to help patients. Older people have a higher probability of becoming impaired. The geriatric population can engage in all parts of life to the same level or the same extent as everyone else thanks to developments in mobility equipment. People can reach their full potential at work with improved mobility and these solutions can also support them in extending their mobility.
Key Takeaways from Market Study
- The global walking assist devices market is predicted to reach US$ 7.4 billion by 2027.
- Market in Canada is projected to evolve at a CAGR of 2% over the forecast period.
- Market in Germany is forecasted to rise at a CAGR of 1.5% through 2027.
- Demand for gait belts & lift vests is predicted to increase at a CAGR of 2.8% from 2022 to 2027.
“Rapid implementation of innovative techniques for product development, introduction of advanced medical crutches, rising incidences of debilitating neurological diseases and injuries, and increasing initiatives by governments to ensure the availability of walking assistance devices to a large consumer base are factors contributing to market growth,” says a Fact.MR analyst
The need for walking assist devices is rising steadily due to several key factors:
- Aging Population: The global population is aging, leading to an increase in the number of elderly individuals who may face mobility challenges. Walking assist devices, such as canes, walkers, and rollators, provide support and stability, enabling seniors to maintain their independence and stay mobile.
- Growing Prevalence of Mobility Disorders: Various medical conditions, such as arthritis, Parkinson’s disease, multiple sclerosis, and musculoskeletal disorders, can affect an individual’s ability to walk. As the prevalence of these conditions rises, so does the demand for walking assist devices to improve mobility and reduce the risk of falls.
- Increasing Awareness and Accessibility: There is a growing awareness about the benefits of using walking assist devices, not only among individuals with mobility issues but also among healthcare professionals and caregivers. Additionally, improved accessibility and availability of these devices in the market have contributed to their rising demand.
- Technological Advancements: Walking assist devices have seen significant technological advancements in recent years. Innovations such as motorized or smart walkers, exoskeletons, and advanced prosthetic limbs offer enhanced mobility and functionality, attracting more users.
- Rehabilitation and Recovery: Walking assist devices are essential tools in the rehabilitation and recovery process for individuals who have undergone surgery or experienced injuries. These devices aid in regaining strength, balance, and coordination, facilitating a quicker return to normal mobility.
- Lifestyle and Fitness: Walking assist devices are not only used by those with medical conditions but also by individuals seeking to maintain an active lifestyle. For instance, trekking poles or walking sticks are popular among hikers and outdoor enthusiasts to provide stability on uneven terrain.
- Government Initiatives and Policies: Many governments and healthcare organizations promote the use of walking assist devices to improve the overall health and quality of life of their populations. Subsidies, insurance coverage, or government programs that support the acquisition of assistive devices have contributed to increased adoption.
- Age-Inclusive Infrastructure: The development of age-inclusive infrastructure, such as ramps, elevators, and wider walkways, has made it easier for individuals using walking assist devices to navigate public spaces, fostering greater independence and participation in society.
Key companies continuously release updates and new product specifications to maintain a competitive edge in the market. Top market players use a variety of strategies, such as product launches, partnerships, and the introduction of advanced technology to increase their market shares and output.
Major market participants are focused on product innovations in assisted walking devices and expanding their supply network and distribution channels.
- In 2021, Panasonic Corporation produced a mass-production prototype of their Walk Training Robot, which is designed to teach senior citizens how to walk safely and effectively. To assist those who are unable to walk but desire to lead better lives, Panasonic engaged in creating and showcasing AI-powered robotic walking training systems.
- By Product Type :
- Gait Belts & Lift Vests
- Power Scooters
- By Distribution Channel :
- By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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.
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Canes and Crutches Market: 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.
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