Report Overview

The global walking assist devices market was pegged at US$ 7.42 billion in 2021 and is expected to witness a CAGR of 4.81% during the forecast period

Market Fundamental

Walking assist devices is another name for walking aids. A patient may be given a variety of tools to help them move around independently, to improve their gait, balance, or safety. In situations where it is desirable to lessen weight bearing through the lower limb, they can also serve as a mechanism of shifting weight from the upper limb to the ground. The walking assist devices is created as a tool for walking training and includes a feature to help the user attain efficient walking centred on the inverted pendulum model (theory of bipedal walking).

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Market Dynamics

During the projected period, utilisation rates of walking assist devices are anticipated to increase due to the rising prevalence of target diseases such Parkinson's disease and rheumatoid arthritis. Also, the increased aging population and increased incidence of attenuated neurological disease & injuries are helping the growth of the market. Assistive walking aids are used in rehabilitation programmes to progressively recover body balance and boost muscle strength in sedentary, disabled individuals, the increase in surgical procedures also leads to a strong demand for these devices. Moreover, the market is expected to increase because of trends in the patient community, rising technical advancements, and product leasing. However, the price of purchasing walking aids is substantial. The market's expansion is being hampered by an increase in the price of walking aids and some safety issues. Early conceptual identification is crucial for those who walk. Additionally, rapid changes in topography will make it extremely difficult to balance when utilising an outpatient aid because of compromised balance.

Market Ecosystem

The global walking assist devices market has been analysed from three perspectives by product, distribution channel, and region. 

Walking Assist Devices Market by Product Type

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Based on the product, the walking assist devices market is divided into four segments: canes, crutches, walkers, and others. The canes segment is further classified as quad canes & folding canes and the walker section is divided as standard walker, rolling walker, & hemi walker.  With a high market share in 2021, the walker category is anticipated to rule the market for the remainder of the projected period. Walkers are chosen over other mobility aids in large part because they offer greater stability, allowing users to move around independently without help, and they offer wider support than other walking aids, encouraging physical engagement in those with physical disabilities. The increased need for walkers as rehabilitation equipment is also a result of the afore mentioned issues.

Walking Assist Devices Market by Distribution Channel

Based on the distribution channel, the global walking assist devices market is bifurcated into online and offline segments. In 2021 the online segment controlled the market with high share since consumers can get whatever they need on the internet without having to travel, which is undoubtedly one of the key advantages of online shopping. Online shopping makes it easier for clients to choose the goods or services they need from any provider, anywhere in the world. The possibility of a wider selection than at enterprise stores and the opportunity to search without being rushed or under any pressure is immeasurable.

Walking Assist Devices Market by Region 

Based on geographical distribution the market is disseminated over North America, Europe, Asia Pacific, and rest of the world. Because of the enormous number of elderly people living there, North America maintained the largest revenue share in 2021. The primary forces influencing the market in this area are the availability of cutting-edge healthcare facilities and well-established reimbursement procedures. Furthermore, it is anticipated that over the past years, the high incidence of target diseases in this region, such as arthritis, Parkinson's disease, and other chronic disabilities, would operate as a high impact rendering driver for the market advancement. Also, it is expected that this market would grow throughout the forecast period due to the accessibility of these mobility devices at discounted prices for people with disabilities.

Competitive Landscape

Some of the most prominent competing companies of global walking assist devices market are:

• Besco Medical Limited
• Electric Mobility Euro Ltd. 
• Honda Motor Co., Ltd. 
• Betterlifehealthcare Ltd.
• Comfort Orthopedic Co. Ltd. 
• Drive Medical
• GF Health Products, Inc. 
• Invacare Corporation
• Karma Healthcare Ltd. 
• Levo AG
• MEYRA GmbH
• Ossenberg GmbH
• Otto Bock Australia Pty. Ltd.
• Permobil, Pride Mobility Products Corporation
• Sunrise Medical (US) LLC.

Strategic Development

• In 2022, Cionic announced first product, the lightweight leg worn Cionic Neural Sleeves, with F.D.A approval. It is intended to increase mobility by tracking, anticipating, and enhancing a person's movement using cutting-edge sensors and algorithms.
• In 2022, The CAN mobilities announced the release of the "CAN GO," the world's smartest canes. It enables people with mobility issues to maintain their independence and movement.
• In 2021, Moovit partnered with WeWALK, famous cane company, to expand the mobility of visually compromised.  

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