26-Jul-2022 | Zion Market Research
The global canes and crutches market was worth around USD 882.90 million in 2021 and is estimated to grow to about USD 1022.59 million by 2028, with a compound annual growth rate (CAGR) of approximately 3.20 percent over the forecast period. The report analyzes the canes and crutches market’s drivers, addition, the report explores emerging opportunities in the canes and crutches market.
Canes and crutches are alternative transportation equipment that help the aged and those with handicap live better lives. The rise in the prevalence of osteoarthritis is another major factor affecting patients' mobility, increasing the supply for canes and crutches. Global population aging will cause a significant rise in the prevalence of fractures in postmenopausal women, thus boosting the market growth. However, the increasing availability of alternatives to canes and crutches is a major hindrance to market expansion during the forecast period. Increased knowledge of the benefits of purchasing canes and crutches online is expected to enhance sales. With increased production costs in comparison to practices, medical device manufacturers are seeking to produce sufficient revenue.
An increase in the number of admissions to rehabilitation centres due to increased cases of substance misuse and alcohol addiction is also likely to accelerate the use of canes and crutches, since patients tend to lose their balance throughout these programs. Developing markets in developing countries are expected to play an important role in providing profitable and better global canes and crutches market growth opportunities for major industry players seeking to grow their geographic reach and company.
The global canes and crutches market is segregated based on product, distributional channel, and region. Based on product, the market is divided into accessories, canes, and crutches. Among these the cranes segment dominates the market. Based on distributional channel, the market is classified into hospital, medical retail stores, online stores, and pharmacies. Over the forecast period, the Hospital is expected to develop at the fastest rate.
North America dominates the global canes and crutches market in term of revenue. This is majorly due to an increase in the elderly society, an increase in various types of government efforts for disabled people, and an increase in favorable remuneration policy & increase in the region's disabled people. Due to rising healthcare spending, an aging population, developments in the healthcare industry, and development of machinery in this region is likely to drive regional market expansion. Asia-Pacific is likely to be the fastest growing region in terms of canes and crutches market growth. In addition, favorable federal programs and an increase in the proportion of research collaborations are likely to boost market expansion. Also, the supply of these mobile applications at deep discounts for disabled patients is projected to drive this market throughout the forecast period.
Key players functioning in the global Canes and Crutches market include "Drive Devillis Healthcare (Medical Depot, Inc.) Cardinal Health, Inc, Medline Industries, Inc, GF Health Products, Inc, NOVA Medical Products, Invacare Corporation, Ergo actives and Sunrise Medical".
Browse the full “Canes and Crutches Market by Product (Accessories, Canes, and Crutches.), By Distributional Channel (Hospital, Medical Retail Stores, Online Stores, and Pharmacies), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/canes-and-crutches-market
The global canes and crutches market is segmented as follows:
By Distribution Channel
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