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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