Walking Assist Devices Market Product Type (Gait Belts & Lift Vests, Canes, Crutches, Walker, Wheelchairs, and Power Scooters), Distribution Channel (Online, and Offline): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

According to the report published by Zion Market Research, global demand for walking assist devices market was valued at approximately USD 6.32 Billion in 2019, and is expected to generate revenue of around USD 8.27 Billion by end of 2026, growing at a CAGR of around 3.9% between 2020 and 2026.

23-Oct-2020 | Number of pages: 110 | Report Code: ZMR-645 | Report Format : | Status : Published

Abstract

According to the report published by Zion Market Research, global demand for walking assist devices market was valued at approximately USD 6.32 Billion in 2019, and is expected to generate revenue of around USD 8.27 Billion by end of 2026, growing at a CAGR of around 3.9% between 2020 and 2026.

Global Walking Assist Devices Market: Overview

The assistive technology comprises rehabilitative, assistive, and adaptive devices for people with disabilities. This technology provides them to complete a task independently where they are unable to accomplish or have great difficulty to do a task. This technology enhances the processor changes methods to deal with it. Walking assist devices are robotic devices used for walking under the guidance of doctors and therapists.

Global Walking Assist Devices Market: Growth Factors

Rapid technological advancement in healthcare is boosting the market growth of the walking assist device market. Moreover, increasing government initiatives to ensure availability of walking assist devices to aging population in order to meet the demand is expected to fuel the global walking assist devices market. In addition to, growing need for walking assist devices owing to increasing the incidences of debilitating neurological diseases & injuries among patient. However, increasing prevalence of the neurological diseases is anticipated to boost the global market in future. Conversely, high cost associated with walking assist devices and some issues related to walking assist devices may hinder the global walking assist devices market growth. Furthermore, the technology-oriented developments are transforming the current assisted devices, which are expected to serve as catalysts for the market growth over the forecast period. 

Global Walking Assist Devices Market: Segmentation

The global walking assist devices market is segregated based on product and distribution channel. The product segment is categorized as power scooters, crutches, gaits belts & lift vests, wheelchairs, walkers, and canes. Of these, wheelchairs segment is the leading segment among others, which contributed for the largest market share.  The distribution channel is categorized into online and offline channel.

Global Walking Assist Devices Market: Regional Analysis

North America holds the largest market share in the global walking assist devices market owing to increased technological advancement and growth in the aging population. In addition, augmenting growth in leasing product activities and exhausting neurological diseases & injuries in this region may lead to increasing usage of walking assist devices. In addition, increasing reimbursement and financial assistance from the government and other financial bodies is also anticipated to propel growth in the global walking assist devices market. Europe is growing at a significant rate in the global market, whereas Asia Pacific may show considerable growth in coming years.

Global Walking Assist Devices Market: Competitive Players

Some of the major players known for their products, services, and constant developments in the Walking Assist Devices market are Invacare Corporation, Better life healthcare Ltd., Ossenberg GmbH, Aetna Inc., GF Health Products, Inc., Pride Mobility Products Corp., and Otto Bock, Honda Motor Co., Ltd., Karma Healthcare Ltd., Besco Medical Co., LTD., Sunrise Medical (US) LLC, C.T.M. Homecare Product, Inc., and Permobil Inc. among others.

Global Walking Assist Devices Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

Increased investment in healthcare infrastructure and the highest rate of walking assistance device adoption due to neurological diseases among the geriatric population base are leading to increased demand for walking assist devices.

According to Zion Market Research, global demand for Walking Assist Devices market is expected to generate revenue of around USD 8.27 Billion by end of 2026, growing at a CAGR of around 3.9% between 2020 and 2026.

North America has dominated the industry owing to the rise in the geriatric population, the presence of well-developed healthcare markets, technical innovations offered by key contenders, and private organisations providing numerous support programmes for the benefit of lonely disabled individual.

Some of the major players known for their products, services, and constant developments in the Walking Assist Devices market are Invacare Corporation, Better life healthcare Ltd., Ossenberg GmbH, Aetna Inc., GF Health Products, Inc., Pride Mobility Products Corp., and Otto Bock, Honda Motor Co., Ltd., Karma Healthcare Ltd., Besco Medical Co., LTD., Sunrise Medical (US) LLC, C.T.M. Homecare Product, Inc., and Permobil Inc. among others.

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