Development of new walking assist devices with advanced sensor and algorithms in order to improve the mobility in daily life is fuelling the global market

calendar_today 07 December, 2022 person_outline Growth Plus Reports

Global walking assist devices market size was pegged at US$ 7.42 billion in 2021 by Growth+ Reports' deep-dive market assessment study. From 2022 to 2030, the market is predicted to grow at a CAGR of 4.81 %.

Walking assist devices are sometimes known as walking assist devices. A patient may be provided a number of devices to aid in their independent mobility, gait improvement, balance training, or safety. They can also act as a mechanism to transfer weight from the forearm to the ground in circumstances where it is preferable to reduce compressive load through the lower limb. The inverse kinematics model, a theory of bipedal walking, lies at the heart of the walking assistance devices, which was developed as a tool for walking training. This feature aids the user in achieving effective walking.

Due to the increased incidence of target diseases such Parkinson's disease and rheumatoid arthritis, it is estimated that walking assist devices usage rates will rise during the projected period. Additionally, the industry is expanding as the population is getting older and attenuated neurological diseases and injuries are becoming more common. There is a high demand for these devices because to the rise in surgical operations. Assistive walking aids are used in rehabilitation programmes to gradually restore body balance and enhance muscular strength in sedentary, impaired individuals. Additionally, the market is expected to grow as a result of trends among patients, escalating technological breakthroughs, and product leasing.

Innovative technologies that assist persons with disabilities in walking are being adopted by the business sectors with the help of the most recent technical advancements. For instance, in April 2022, Getinge launched a single leg holder system for OR tables. It lowers costs, shortens the time between procedures, and provides comfort to a variety of patients by being compatible with two types of knee crutches. The two main determinants of assisted walking devices are product and geography. The sales of aided walking devices are being driven by the equipment used by persons who had diseases. People with impairments are being affected by the rising accident rates. The market for assisted walking devices is being driven by walking difficulties. Walking assist devices are used in an increasing number of arthritis situations.

Initiatives sponsored by government and private groups give people access to equipment demos at facilities that give patients pertinent information about selecting a piece of equipment that is appropriate for their particular condition. For example, in October 2021, with the help of government funding researchers at Stanford University have developed a cheap robotic cane that safely and effectively leads people with vision problems around their surroundings. Patients who have long-term illnesses or disabilities are also excluded from collecting VAT on mobility products. Patients who are physically unable can purchase this equipment with the help of special funds provided by the governments of the countries, the U.S., and the U.K. For those with physical disabilities looking for assistance, independent groups like Charity search, the Disablement Information and Advice Lines (DIAL) network, Rica, and Shop Mobility are directly involved in offering a range of services. The Priority Assistive Products List, released by the World Health Organization (WHO) to encourage fair access to assistive mobility devices for individuals in need and to provide proper guidelines for use.  

However, buying walking assist devices comes with a significant cost. A rise in the expense of walking aids as well as some safety concerns are limiting the market's growth. For individuals who walk, concept generation identification is essential. Rapid topographic changes will also make it very challenging to balance when using an outpatient assistance due to poor balance.

Due to 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 following nine 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 generating driver for the market advancement. Furthermore, it is anticipated that this market would grow throughout the forecast period due to the accessibility of these mobility devices at discounted prices for people with disabilities. Besides, 20% of Canadians have a disability in 2019, according to the Survey on Disability. However, obese, and overweight individuals are unable to walk on their own. These individuals employ aids that advance the market. During the projection period, the Asia Pacific region is anticipated to see the largest CAGR. The alarming geriatric population count in Asia Pacific nations like China, India, and Japan, the rising prevalence of chronic deformities in this region's population, the increase in public and private healthcare spending, and the rise in disposable incomes are major determinants of the high growth.

Some of the most prominent competing companies of global walking assist devices market are, Besco Medical Limited, Betterlifehealthcare Ltd., Levo AG, Comfort Orthopedic Co., Ltd., Drive Medical, Honda Motor Co., Electric Mobility Euro Ltd., GF Health Products, Inc., Ltd., Invacare Corporation, Ossenberg GmbH, Karma Healthcare Ltd., MEYRA GmbH, Otto Bock Australia Pty. Ltd., Permobil, Pride Mobility Products Corporation, and Sunrise Medical (US) LLC among others.

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