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 global Canes and Crutches market was worth around USD 882.19 million in 2021 and is estimated to grow to about USD 1066.57 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, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the canes and crutches market.
The factors driving the expansion of the global canes and crutches market include a spike in the volume of knee, hip, and joint replacement surgeries, an increase in car collisions, and a prevalence of chronic illnesses. Canes and crutches are in high demand because seniors are more likely to suffer from musculoskeletal problems or other orthopedic conditions. Furthermore, regional acquisitions by key players are projected to boost the global canes and crutches market growth. Medical device makers are attempting to produce sufficient money in the face of rising manufacturing costs compared to practices. Developing markets in developing countries are expected to play an essential role in providing excellent and improved global market growth possibilities for major industry players looking to increase their geographic reach and operations. The integration of advanced technology in walking aids is paving the way for the robotic exoskeleton, which is anticipated to fulfill the needs of people who struggle to keep equilibrium while using canes and crutches. Furthermore, regulatory authorities' increased approval of novel designs for clubs and crutches is likely to support the worldwide canes and crutches market expansion throughout the forecast period.
The COVID-19 outbreak negatively impacts the market growth of the businesses. This outbreak condition affected demand for canes and crutches-related products, negatively impacting the product supply chain. The COVID-19 pandemic compelled governments worldwide to impose stringent lockdowns and ban the shipping of non-essential products for most of 2020. This resulted in a sharp decrease in the supply of critical raw materials. Incorporating advanced technology in walking aids is paving the way for the robotic exoskeleton, which is expected to meet the demands of people who struggle to achieve stability while using canes and crutches.
The aging population is likely to pave the way for global market growth
Global population aging will cause a significant rise in the prevalence of fractures in postmenopausal women, thus boosting the global canes and crutches market growth during the forecast period. The aged population is increasing faster than the younger population. This increases chronic diseases, abnormalities, and deterioration of physical functions such as leg and hand mobility. Elderly people are vulnerable to a variety of orthopedic conditions.
The increasing alternatives to the canes and crutches may hamper the global market growth.
The availability of alternatives for canes and crutches will likely limit the growth of the global market during the forecast period. Knee walkers and wheelchairs, for example, can be used in place of canes and crutches. A knee walker features wheels that allow unfettered mobility and does not require any upper body strength. Wheelchairs provide for greater mobility and reduce the danger of pressure ulcers. Such replacement items are estimated to limit the worldwide canes and crutches market's growth.
The global canes and crutches market is segregated based on product, distributional channel, and region.
By product, the market is divided into accessories, canes, and crutches. Among these, the cane segment dominates the market. Cane use has increased as the aging population and the number of people with impairments grows. Growth in the prevalence of disorders such as rheumatoid arthritis and osteoporosis is also a significant driver of the expanding industry.
By distributional channel, the market is classified into hospitals, medical retail stores, online stores, and pharmacies. The online segment dominates the market; increased knowledge of the benefits of purchasing canes and crutches online is expected to enhance sales.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
The rising aging population likely to support North America dominates the global market.
North America dominates the global canes and crutches market. The region's expanding aging population, the high prevalence of ailments such as osteoarthritis & osteoporosis, and developed health systems are some of the primary factors for its vast market share. Also, with favorable healthcare regulations, an expanding older population, and an advanced healthcare market, the United States has the highest percentage in this region.
The Asia Pacific is expected to be the fastest-growing regional market during the forecast period. The region also see an increase in start-up businesses investing in the healthcare industry. Furthermore, the launch of advanced designs by the start-up industry is expected to provide substantial growth potential in the canes and crutches market in the coming years.
Some of the main competitors dominating 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.”
The rise in the prevalence of osteoarthritis is another major factor affecting patients' mobility, increasing the supply of canes and crutches. Global population aging will cause a significant rise in the prevalence of fractures in postmenopausal women, thus boosting the market growth.
According to the Zion Market Research report, the global Canes and Crutches market was worth about 882.19 million in 2021 and is predicted to grow to around 1066.57 (USD million) by 2028, with a compound annual growth rate (CAGR) of about 3.20 percent.
North America dominates the global Canes and Crutches market global 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 and inflation in the region's
Some of the main competitors dominating 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 Medica.