Global Walking Assist Devices Market Insights Forecasts to 2030

• The Walking Assist Devices Market Size was valued at USD 3.86 Billion in 2021.
• The Market is Growing at a CAGR of 7.06% from 2021 to 2030
• The Worldwide Walking Assist Devices Market is expected to reach USD 6.51 Billion by 2030
• Asia Pacific is expected to Grow the fastest during the forecast period

The Global Walking Assist Devices Market is expected to reach USD 6.51 Billion by 2030, at a CAGR of 7.06% during the forecast period 2021 to 2030.

Walking assist devices are nothing but assistance technology. These devices offer rehabilitation, adaptive and assistive devices for people who are suffering from physical disabilities. They help the people to do their work without any sort of help when the patients are not able to complete or face difficulty in doing any type of work. The device comes with processor change methods which help to do automated work. Basically walking assist devices come with robotic technology which is used by physically disabled patients for assistance in working under the expert guidance.

COVID 19 Impact on Walking Assist Devices Market

The supply of medical devices increasing rapidly to treat the infected people. Certain respiratory support devices like life support machines, atomizers, monitor and oxygen generators are widely used in the medical sector to continue the primary clinical treatment. Not only this but also the pending has resulted into the increasing demand for medical supplies like personal protective equipment such as gloves, masks, and protective eyeglasses. With the increasing number of COVID-19 cases across the world the requirement for medical supplies is also simultaneously increasing both from the civil population and healthcare population to take precautionary steps. The Covid 19 pandemic has rapidly impacted the market of walking assist devices due to the stay-at-home order implemented by the government across the world. Moreover, due to the lack of financial resources the government of many countries were not able to make investments in the research and development activities of working assist devices. Having said that, the market has witnessed positive growth in the second half of the year 2020 and is expected to generate more revenue due to the increasing cases of diseases like obesity which have occurred due to the isolation and inactivity among people during the pandemic. 

Key Market Drivers

Increasing number of elderly people is propelling the market growth

The rise in the number of elderly as well as increasing cases of musculoskeletal issues like rheumatoid arthritis, osteoarthritis, etc has resulted into the positive growth of the global walking assist market. For instance, in June 2022, as per the report published by the World Health Organization (WHO), around 1.71 billion people are suffering from musculoskeletal issues across the world. Thus, the increasing number of musculoskeletal disorders are inspiring the people to use walking assist devices which are boosting the growth of the market.

Rising cases of neurological disorders are driving the market

The increases cases of neurological disorders, osteoarthritis, rheumatoid arthritis are also playing significant roles in the growth of the market as more and more people have started using walking assist devices. For instance, as per the Global RA Network in 2021, over 250 million people across the world are suffering from arthritis which is common health problem which results into disability. This is inspiring people to use walking assist devices, hence propelling the market growth.

Increasing initiatives taken by the government is driving the market

Governments of various countries and many private organizations are started taking initives to offer access to equipment demonstration at centers  which provide knowledge to the patients to take equipment choice that suit their issues. Apart from this, the patients having chronic diseases are exempted from paying VAT on such product purchases. Not only this but also the government of US and UK provide special grants to physically challenged people to purchase walking assist devices. Certain independent organizations like Charity Search, Disablement Information and Advice Lines (DIAL), Shop mobility, and Rica are involved to offer various services specifically for physically handicapped persons.

Key Challenging Factors

Increasing cost of the devices are hampering the market growth

The high cost involved in purchasing the walking assist devices are negatively impacting the growth of the global walking assist devices market.

Market Segmentation

Product Insights

Walker segment is dominating the market with the largest market share over the forecast period.

On the basis of product, the global walking assist device market is segmented into canes, crutches, walkers, gait trainers. Among these, the walkers segment is dominating the market with the largest market share over the forecast period. Walkers are increasingly preferred by the patient as compared to other mobility devices due to their enhanced stability features which allow patients to work independently without any sort of guidance provided by the doctor and other Healthcare professionals. In addition, the provision of wider support offered by these mobility devices are promoting physical activity in physically challenged persons. 

On the other hand, the gait trainers segment is witnessing the fastest market growth over the forecast period owing to the increasing cases of Parkinson’s diseases as well as cerebral palsy, rising number of spinal injuries and increasing cases of strokes among adults.

Regional Insights

North America is dominating the market with the largest market share over the forecast period.

North America accounted the largest revenue share over the forecast period owing the presence of large number of geriatric people. Not only this but also the strong presence of advanced healthcare facilities as well as well developed reimbursement policies are propelling the regional market. In addition, the increasing prevalence of targeted diseases like Parkinson’s disease and other chronic ailments are boosting the regional development of the market that are driving the market expansion.

Asia Pacific, on the other hand is anticipated to witness the fastest market growth over the forecast period due to the increasing geriatric population in the developing countries like India, China, and Japan, rising cases of chronic diseases and the development of the healthcare sectors.

Recent Developments

• In February 2020, Honda R&D Americas, Inc. and the Ohio State University received a grant by the Michael J. Fox Foundation on account of the research done for the positive impact of Honda’s Walking Assist Device among people who are suffering from Parkinson’s Disease.

• In February 2021, Invacare Corporation has made an announcement about the launch of Invacare AVIVA STORM RX power wheelchair.

List of Key Companies

• Honda Motor Co., Ltd.
• Permobil Inc.
• GF Health Products, Inc.
• Invacare Corporation
• Besco Medical Co., LTD.
• Betterlifehealthcare Ltd.
• C.T.M. Homecare Product, Inc.
• Ottobock
• Ossenberg GmbH
• Pride Mobility Products Corp.
• Aetna Inc.
• Sunrise Medical (US) LLC
• Karma Healthcare Ltd

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Walking Assist Devices Market based on the below-mentioned segments:

Walking Assist Devices Market, Product Analysis

• Canes
• Crutches
• Walkers
• Gait Trainers

Walking Assist Devices Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa