Walking Assist Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Walking Assist Devices Market is segmented by Product Type (Gait Belt and Lift Vest, Cane, Crutch, Walker, Wheelchair, and Power Scooter) and Geography.

Market Snapshot

Walking Assist Devices Market Size
Study Period: 2018 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.7 %
Walking Assist Devices Market Major Players

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Market Overview

The walking assist devices market is expected to register a CAGR of 4.7% during the forecast period. The key factors propelling the market are the increasing incidences of rheumatoid and osteoarthritis, surging demand for rehabilitation equipment, and the steep rise in the aging population.

  • The rise in the elderly population has led to the growth of the walking assist devices market. According to the World Health Organization (WHO) 2020 report, the prevalence of rheumatoid arthritis varies between 0.3% and 1% and is more common in women and in developed countries. Moreover, within 10 years of the onset of the disease, at least 50% of patients in developed countries seemed unable to hold down a full-time job.
  • Furthermore, the increasing prevalence of debilitating neurological diseases, rheumatoid arthritis, and osteoarthritis have been contributing to the increased percentage of the population with a disability to walk.
  • Therefore, as the geriatric population is growing, the demand for walking assist devices is also rising across the world. Also, the walking assist devices provide balance, support, and ultimately, the subsequent ability to survive independently. The aforementioned factors are responsible for the increasing geriatric population getting attracted to these devices.
  • Furthermore, the rise in healthcare expenditure and funding by the government for the development of robots to improve health are also significantly contributing to the market growth across the world.

Scope of the Report

As per the scope of the report, walking assist devices are designed for people suffering from leg injuries or who are unable to walk due to any internal problem. These devices are also used by people who face the problem of body balance during walking, due to nervous system diseases, such as Parkinson’s disease and Alzheimer's disease. The walking assist devices market is segmented by product type and geography.

By Product Type
Gait Belt and Lift Vest
Cane
Crutch
Walker
Wheelchair
Power Scooter
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Crutch, the Fastest Growing Segment, is Expected to Grow During the Forecast Period

The crutch segment is expected to emerge as the fastest-growing segment, owing to the rapid growth pace that is a result of the high global demand for crutches as supportive walking devices and as equipment employed to provide rehabilitative care. Crutches minimize the weight-bearing effect on the disabled leg and help improve the balance and stability of the individual while walking. According to the World Health Organization (WHO) 2020 report, 18.0% of women and 9.6% of men aged over 60 years have symptomatic osteoarthritis. Moreover, 80% of patients with osteoarthritis have limitations in movement, and 25% cannot perform their major daily activities of life. Therefore, increasing innovations in crutches and the rising prevalence of arthritis are believed to show stable growth in the future.

Walking Assist Devices Market Share

North America holds the Largest Market and is Expected to Follow the Same Trend Over the Forecast Period

North America has dominated the market owing to the increase in the geriatric population, the presence of well-developed healthcare sectors, technological advancements forwarded by the leading players, and private organizations offering varied supportive services for the benefit of the physically disabled people. According to the Centers for Diseases Control and Prevention, the number of adults unable (or very difficult) to walk a mile was found to be around 17.1 million in 2016 in the United States. In addition, the increasing cases of rheumatoid arthritis in the United States are also driving the walking assist devices market in the country.

Walking Assist Devices Market Growth

Competitive Landscape

The walking assist devices market is fragmented, competitive, and consists of several major players. There are many companies that have adopted various strategies, such as partnerships, mergers and acquisitions, product launches, and new technology launches to increase their market shares and boost production. Some of the companies currently dominating the market are Honda Motor Co. Ltd, GF Health Products Inc., Ossenberg GmbH, Homecare Product Inc., Invacare Corporation, Better Life Healthcare Ltd, Karma Healthcare Ltd, Besco Medical Co. Ltd, Permobil Inc., and Sunrise Medical LLC.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Incidences of Rheumatoid and Osteo-arthritis

      2. 4.2.2 Surging Demand for Rehabilitation Equipment

      3. 4.2.3 Steep Rise in the Aging Population

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Purchase

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Gait Belt and Lift Vest

      2. 5.1.2 Cane

      3. 5.1.3 Crutch

      4. 5.1.4 Walker

      5. 5.1.5 Wheelchair

      6. 5.1.6 Power Scooter

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Australia

        5. 5.2.3.5 South Korea

        6. 5.2.3.6 Rest of Asia-Pacific

      4. 5.2.4 Middle-East and Africa

        1. 5.2.4.1 GCC

        2. 5.2.4.2 South Africa

        3. 5.2.4.3 Rest of Middle-East and Africa

      5. 5.2.5 South America

        1. 5.2.5.1 Brazil

        2. 5.2.5.2 Argentina

        3. 5.2.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Invacare Corporation

      2. 6.1.2 Better Life Healthcare Ltd

      3. 6.1.3 Ossenberg GmbH

      4. 6.1.4 GF Health Products Inc.

      5. 6.1.5 Honda Motor Co. Ltd

      6. 6.1.6 Karma Healthcare Ltd

      7. 6.1.7 Besco Medical Co. Ltd

      8. 6.1.8 Homecare Product Inc.

      9. 6.1.9 Permobil Inc.

      10. 6.1.10 Sunrise Medical LLC

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Walking Assist Devices Market market is studied from 2018 - 2026.

The Walking Assist Devices Market is growing at a CAGR of 4.7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Invacare Corporation, GF Health Products Inc, Honda Motor Co. Ltd, HOMECARE PRODUCT, Inc, Ossenberg Gmbh are the major companies operating in Walking Assist Devices Market.

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