Medical Walkers Market Size
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Medical Walkers Market Analysis
The Medical Walkers Market is expected to register a CAGR of 5.25% over the forecast period.
The onset of COVID-19 created a global public health emergency, and the long-term effects are projected to impact industry growth during the forecast period. Assistive technology (AT) was considered non-essential, and restrictions were imposed on them. This led to declining assistive care services in hospitals and less demand generation for assistive products such as medical walkers during the pandemic. WHO conducted a survey in 2021 in collaboration with UNICEF and with some universities such as University College London (UCL) and non-profit organizations, and as per the survey results, AT users faced a lack of access to AT services, including assistance with the maintenance and repair of their assistive products. Due to AT being considered non-essential, the supply chain for the products was hampered during the initial phases of the pandemic. As medical walkers have a significant user base, the decline in AT services and supply adversely impacted the studied market. However, due to vaccination programs globally, COVID-19 cases are under control, and services are provided at the pre-pandemic level. Due to this, AT users can now access all the assistive services and products, such as medical walkers, in terms of their needs. Thus, it is expected to have a considerable impact on the market studied and is expected to grow at a steady pace during the forecast period.
Factors such as a surge in orthopedic conditions, rising short-term disabilities and medical emergencies, growing incidences of musculoskeletal injuries, and other chronic diseases, coupled with the rising geriatric population, are expected to drive the growth of the studied market during the analysis period.
Most people who are disabled or have any chronic musculoskeletal conditions use medical walkers as assistive devices. According to the data updated by WHO in February 2021, approximately 1.71 billion people had musculoskeletal conditions worldwide in 2020. Among musculoskeletal disorders, low back pain caused the highest burden, and nearly 568 million people lived globally with back pain. Musculoskeletal conditions are the leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries.
In addition, according to the 2021 update by CDC, nearly 19.4 million adults in the United States could not walk a quarter mile. Around 40.7 million adults in the United States have at least one physical function disability. Thus, the high prevalence of physical disabilities is expected to demand medical walkers, fueling the target market growth.
Favorable reimbursement policies offered by organizations such as Medicare are estimated to propel the adoption rate of these devices. Walking aids such as medical walkers are covered under Medicare's durable medical equipment category. As per Medicare.gov, a federal government website managed by the Centers for Medicare and Medicaid Services, Medicare Part B pays for nearly 80% of the approved devices while the patient pays for the rest, 20%, in the United States. Also, end users can use any Medicare-approved supplier to repair a walker. Thus, the affordability of the products is facilitating the demand for medical walkers and is expected to accelerate the market growth during the forecast period.
However, the increased risk of accidents and falls and reluctance by medical professionals to recommend medical walkers may hinder the growth of the studied market.
Medical Walkers Industry Segmentation
As per the scope of the report, a medical walker is a mobility or walking aid with four points of contact with the ground. It usually has three sides, with the side closest to the patient remaining open. It provides a wider base of support than walking with a stick and is used by patients with poor balance and mobility to stabilize their movement.
The Medical Walkers Market is segmented by Product (Standard Walker and Wheeled Walker), Application (Orthopedic Care, Emergency Care, Geriatric Care, and Other Applications), End User (Hospitals, Ambulatory Care Centers, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.
|Ambulatory Care Centers|
Medical Walkers Market Trends
Orthopedics by Application Segment is Expected to Witness Growth Over the Forecast Period
The orthopedics segment is expected to witness growth over the forecast period among all other application segments. Medical walkers are special devices used for temporary walking disabilities. People with orthopedic ailments, especially those who have joint and hip surgeries or have serious orthopedic disorders need support for walking most often use these devices. These can also be used by amputees using artificial limbs, and temporary ambulation with plaster casts.
The increasing number of orthopedic conditions globally is anticipated to drive the demand for medical walkers. An increase in the number of patients suffering from spinal cord injury (SCI) is likely to be the key factor contributing to the growth of the segment. According to an article published in NLM Journal in August 2021, motor vehicle collisions account for 38% of new SCI each year, 30% of SCI are due to falls, 13% due to violence, 9% from sports injuries, and 5% from medical and surgical etiologies in the United States. Additionally, as per the source mentioned above, there are approximately 17,000 new cases of SCI each year, and roughly 282,000 people are estimated to be living with SCI in the United States. Hence, the high burden of SCI in countries across the globe is anticipated to drive the demand for the use and availability of medical walkers. Therefore, it is anticipated to drive the segment's growth.
Furthermore, hip and knee replacements are among the most frequently performed surgeries globally. Osteoarthritis, which leads to disability is the main indication for hip and knee replacement (joint replacement surgery) procedures. As per OCED data updated in November 2021, age is the major factor for osteoarthritis and is more common in women and increases after 50 years of age. This target population most often requires medical walkers for better mobility in their day-to-day life. Thus, it is expected to contribute to the growth of the segment. Thus, due to the aforesaid factors, the segment is expected to witness significant growth over the forecast period.
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North America is Expected to Dominate the Medical Walkers Market in the Forecast Period
North America holds a significant share of the market and is expected to continue to hold a major share of the medical walkers market over the forecast period. An increasing number of emergency cases, a surge in orthopedic illness, and an increasing geriatric population in the region are major factors attributed to the growth of the market in the region.
Injuries caused by falls, traffic accidents, and age-related factors are major causes of disability across North America, and this is creating demand for assisting devices such as medical walkers for better mobility of patients. According to CDC data updated in March 2022, the number of emergency department visits was 130 million and the number of injury-related visits was 35 million in the United States in 2021. This number of emergency visits coupled with an increased number of injuries is expected to lead to increased adoption of medical walkers in the country. Thereby, contributing to the growth of the market during the forecast period.
Additionally, a knee replacement surgery involves replacing some or all the damaged joint with prosthetic materials and is generally performed to relieve severe pain generally caused by Arthritis. The number of procedures for knee replacement is recently increased in the United States and Canada. As per the Personalized Orthopedics of the Palm Beaches data published in November 2021, almost 800,000 knee replacements are performed each year in the United States alone, and the number is estimated to increase year on year.
In addition, as per a report published by CIHI in June 2022, approximately 110,000 joint replacements were performed in 2020–2021, among which 55,300 were hip replacements and 55,285 were knee replacements. This high number of knee and hip replacement surgeries is predicted to create demand for the availability of assisting devices such as medical walkers. Hence, it is expected to accelerate the studied market growth in the region.
New product development, distribution channel enhancement, and collaboration are some of the key strategic initiatives undertaken by regional market players. For instance, in September 2021, TOPRO acquired the entire share capital of AssiTech. The acquisition will complete the existing product offering of the company. Therefore, owing to the aforementioned factors, the North American region is expected to have significant growth over the forecast period.
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Medical Walkers Industry Overview
The Medical Walkers Market is competitive in nature. Due to the presence of several companies globally, the market studied is fragmented. The studied market consists of several international companies, which hold most of the market shares and are well known, including Besco Medical Co. Ltd, Foshan better medical technology Co. Ltd, Sunrise Medical, Taynorindia, and Viva Health.
Medical Walkers Market Leaders
Besco Medical Co.,LTD.
Foshan better medical technology Co.,Ltd
*Disclaimer: Major Players sorted in no particular order
Medical Walkers Market News
- Aug 2022: Sunrise Medical launched the RGK, the most advanced and premium made-to-measure manual wheelchair range in North America.
- Apr 2022: Helius Medical Technologies launched its breakthrough portable neuromodulation stimulatory to help multiple sclerosis patients who struggle to walk.
Medical Walkers Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Short-term Disabilities and Medical emergencies
4.2.2 Growing Incidences of Musculoskeletal Injuries and Other Chronic Conditions Coupled with Rising Geriatric Population
4.3 Market Restraints
4.3.1 Increased Risk of Accidents and Falls
4.3.2 Reluctance by Medical Professional to Recommend Medical Walkers
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Standard Walker
5.1.2 Wheeled Walker
5.2 By Application
5.2.1 Orthopedic Care
5.2.2 Emergency Care
5.2.3 Geriatric Care
5.3 By End-User
5.3.2 Ambulatory Care Centers
5.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.4.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Besco Medical Co.,LTD.
6.1.2 Foshan better medical technology Co.,Ltd
6.1.3 Carex Health Brands
6.1.4 FORTA S.L.
6.1.5 Roma Medical
6.1.6 Invacare Corporation
6.1.7 Sunrise Medical
6.1.8 Drive DeVilbiss Healthcare
6.1.10 Vive Health
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Medical Walkers Market Research FAQs
What is the study period of this market?
The Medical Walkers Market is studied from 2018 - 2028.
What is the growth rate of Medical Walkers Market?
The Medical Walkers Market is growing at a CAGR of 5.25% over the next 5 years.
Which region has highest growth rate in Medical Walkers Market?
Asia-Pacific is growing at the highest CAGR over 2021 - 2026.
Which region has largest share in Medical Walkers Market?
North America holds highest share in 2022.
Who are the key players in Medical Walkers Market?
Besco Medical Co.,LTD., Foshan better medical technology Co.,Ltd , Sunrise Medical, Tynorindia, Vive Health are the major companies operating in Medical Walkers Market.
Medical Walkers Industry Report
Statistics for the 2023 Medical Walkers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Medical Walkers analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.