Assisted Walking Device Market Overview:
As per MRFR analysis, the Assisted Walking Device Market Size was estimated at 30.16 (USD Billion) in 2022. The Assisted Walking Device Market is expected to grow from 31.17 (USD Billion) in 2023 to 41.914 (USD Billion) by 2032. The Assisted Walking Device Market CAGR (growth rate) is expected to be around 3.34% during the forecast period (2024 - 2032).
Key Assisted Walking Device Market Trends Highlighted
Key market drivers for assisted walking devices include the aging population, increasing incidence of chronic diseases, growing awareness of mobility issues, and technological advancements. The rising number of elderly individuals with mobility impairments drives demand for assistive devices to maintain independence and improve quality of life.
Moreover, the growing prevalence of conditions like arthritis, stroke, and Parkinson's disease necessitates effective mobility solutions. Technological advancements, such as lightweight materials, ergonomic designs, and smart features, enhance the functionality and user experience of assisted walking devices, contributing to their increasing adoption.
Opportunities in the assisted walking device market lie in exploring innovative technologies, expanding into emerging markets, and addressing the unmet needs of specific user groups. Advancements in robotics, AI, and IoT offer the potential for developing more intelligent and personalized assistive devices.
Emerging markets, with their growing elderly population and increasing healthcare expenditure, present significant growth opportunities. Additionally, addressing the specific needs of individuals with cognitive impairments or limited hand dexterity can create new market segments.
Recent trends in the assisted walking device market include the rise of smart devices, the growing adoption of lightweight materials, and the increasing focus on user comfort and aesthetics. Smart devices with sensors and connectivity features enable remote monitoring, fall detection, and personalized assistance.
Lightweight materials, such as carbon fiber and aluminum alloys, improve device portability and reduce user fatigue. Furthermore, manufacturers are prioritizing user comfort and aesthetics by designing devices that are ergonomically friendly, stylish, and easy to use, enhancing overall user acceptance and satisfaction.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Assisted Walking Device Market Drivers
Rising Prevalence of Chronic Diseases and Disabilities
The increasing prevalence of chronic diseases and disabilities worldwide is a major driver of the growth of the Assisted Walking Device Market. As the population ages, the incidence of conditions such as arthritis, Parkinson's disease, and multiple sclerosis is on the rise.
These conditions can significantly impair mobility, making it difficult for individuals to walk without assistance. Assisted walking devices provide support and stability, enabling individuals to maintain their independence and mobility.
The growing demand for assisted walking devices due to the increasing prevalence of chronic diseases and disabilities is expected to continue to drive market growth in the coming years.
Technological Advancements and Innovation
Technological advancements and innovation are also playing a significant role in driving the growth of the Assisted Walking Device Market. Manufacturers are continuously developing new and innovative assisted walking devices that are lighter, more comfortable, and more efficient.
These advancements are making assisted walking devices more accessible and appealing to a wider range of users.
For example, the introduction of lightweight carbon fiber frames and ergonomic designs has significantly improved the comfort and mobility of assisted walking devices.
Additionally, the integration of sensors and electronics into assisted walking devices is enabling the development of smart devices that can track user activity, provide feedback, and even assist with navigation.
Government Initiatives and Support
Government initiatives and support are also contributing to the growth of the Assisted Walking Device Market. Governments worldwide are recognizing the importance of mobility and independence for individuals with disabilities.
As a result, many governments are implementing policies and programs to provide financial assistance and support for the purchase of assisted walking devices. These initiatives are making assisted walking devices more affordable and accessible to a wider range of users.
Additionally, governments are also investing in research and development to support the development of innovative and effective assisted walking devices.
Assisted Walking Device Market Segment Insights:
Assisted Walking Device Market Device Type Insights
The Assisted Walking Device Market is segmented by device type into Walkers, Rollators, Canes, and Crutches. The Walkers segment holds the largest market share due to its affordability, ease of use, and suitability for various mobility impairments.
Walkers are expected to continue dominating the market, with a revenue projection of USD 12.45 billion by 2024. Rollators are gaining popularity due to their enhanced stability and maneuverability. They are often preferred by individuals with balance issues or those recovering from surgeries.
The Rollators segment is anticipated to witness significant growth, reaching a market value of USD 8.67 billion by 2024. Canes provide basic support and stability and are commonly used by individuals with mild mobility impairments.
The Canes segment is expected to maintain a steady market share, with a revenue forecast of USD 6.23 billion by 2024. Crutches are primarily used for temporary mobility support, such as after injuries or surgeries. The Crutches segment is projected to grow moderately, with a market valuation of USD 4.59 billion by 2024.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Assisted Walking Device Market Material Insights
The Assisted Walking Device Market is segmented based on material into Aluminum, Steel, Titanium, and Carbon Fiber. Among these, the Aluminum segment held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period.
Aluminum offers a lightweight and durable option for assisted walking devices, making it suitable for a wide range of users. Moreover, its corrosion resistance and affordability contribute to its popularity.
In 2023, the Aluminum segment accounted for approximately 42.5% of the Assisted Walking Device Market revenue and is projected to reach a valuation of USD 15.18 billion by 2032, exhibiting a CAGR of 3.5%.
Assisted Walking Device Market Application Insights
The Assisted Walking Device Market segmentation by Application comprises Mobility Impairment, Elderly Care, Post-Surgical Recovery, and Rehabilitation. The Mobility Impairment segment held the largest market share in 2023, accounting for around 45% of the Assisted Walking Device Market revenue.
The Elderly Care segment is expected to witness the fastest growth during the forecast period, owing to the increasing geriatric population and the rising prevalence of chronic diseases among the elderly.
In 2023, the Post-Surgical Recovery segment accounted for nearly 20% of the Assisted Walking Device Market share, and the Rehabilitation segment is projected to grow significantly in the coming years due to the increasing demand for rehabilitation services following surgeries and injuries.
Assisted Walking Device Market Price Range Insights
The Assisted Walking Device Market is segmented by Price Range into Economy, Mid-Range, and Premium. The mid-range segment is expected to witness significant growth in the coming years due to increasing demand for affordable and accessible assisted walking devices.
In 2023, the mid-range segment accounted for a market share of around 45%, and it is projected to grow at a CAGR of 4.5% during the forecast period. The growth of this segment can be attributed to the increasing number of elderly people and rising incidences of mobility impairments.
Moreover, the growing adoption of lightweight and foldable assisted walking devices among individuals with temporary mobility issues is also contributing to the growth of this segment.
Assisted Walking Device Market Sales Channel Insights
The Assisted Walking Device Market is segmented by Sales Channel into Retail Stores, Online Stores, Healthcare Providers, and Rental Services. Among these, Retail Stores hold the largest market share due to factors such as the presence of a wide range of products, personalized customer service, and the ability to try out products before purchasing.
Online Stores are expected to witness significant growth over the forecast period owing to the convenience of shopping from home, competitive pricing, and a wide selection of products. Healthcare Providers also account for a significant portion of the market, as they are involved in the prescription and distribution of Assisted Walking Devices.
Rental Services offer a cost-effective option for individuals who require Assisted Walking Devices for a short period of time, contributing to the overall market growth.
Assisted Walking Device Market Regional Insights
The regional segmentation of the Assisted Walking Device Market provides valuable insights into the geographical distribution of market growth and opportunities. North America is projected to dominate the market in 2024, owing to the high prevalence of age-related conditions and supportive healthcare infrastructure.
Europe closely follows North America, with a large elderly population and increasing healthcare expenditure. The APAC region is anticipated to witness significant growth in the coming years, driven by rising healthcare awareness and economic development.
South America and MEA are expected to contribute a smaller share of the overall market but are also expected to show steady growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Assisted Walking Device Market Key Players and Competitive Insights:
Major players in the Assisted Walking Device Market are continuously striving to develop innovative products to meet the evolving needs of customers. For instance, in 2023, Sunrise Medical LLC launched a new line of lightweight and foldable rollators, designed for easy transportation and storage.
Similarly, GF Health Products, Inc. introduced a range of adjustable walkers with built-in seats and storage baskets, providing added convenience and comfort to users. These ongoing developments by leading Assisted Walking Device Market players are shaping the competitive landscape of the Assisted Walking Device Market.
Invacare Corporation, a leading Assisted Walking Device Market player with a global presence, offers a comprehensive portfolio of assisted walking devices, including wheelchairs, walkers, and mobility scooters.
The company's commitment to innovation and customer satisfaction has earned it a strong reputation within the Assisted Walking Device Market. Invacare's focus on research and development has led to the creation of advanced products, such as its line of power wheelchairs with adjustable seating and customizable controls.
Drive Medical, another prominent competitor in the Assisted Walking Device Market, is known for its wide range of mobility products, including manual and power wheelchairs, walkers, and scooters.
The company's emphasis on quality and affordability has made it a preferred choice for many customers. Drive Medical's distribution network spans across multiple countries, ensuring accessibility to its products for a global clientele. The company's commitment to customer service and its focus on providing innovative solutions have contributed to its success in the Assisted Walking Device Market.
Key Companies in the Assisted Walking Device Market Include:
- Pride Mobility
- Drive DeVilbiss Healthcare
- Patterson Medical
- GF Health Products
- Invacare
- Sunrise Medical
- Permobil
- BSN Medical
- Apex Medical
- Ottobock
- Medline Industries
- Altimate Medical
- Zimmer Biomet
Assisted Walking Device Market Developments
The Assisted Walking Device Market is witnessing significant growth, driven by the increasing geriatric population and rising prevalence of mobility impairments.
Key market trends include the growing adoption of lightweight and foldable walkers, increasing demand for customized devices, and technological advancements such as AI-powered gait analysis and smart wheelchairs.
Recent news developments include the launch of innovative products like the EksoNR robotic exoskeleton and the FDA approval of the iWalk 2.0 robotic ankle system.
Strategic partnerships and acquisitions are also shaping the market landscape, with companies seeking to expand their product portfolios and gain a competitive edge.
Assisted Walking Device Market Segmentation Insights
- Assisted Walking Device Market Device Type Outlook
- Walkers
- Rollators
- Canes
- Crutches
- Assisted Walking Device Market Material Outlook
- Aluminum
- Steel
- Titanium
- Carbon Fiber
- Assisted Walking Device Market Application Outlook
- Mobility Impairment
- Elderly Care
- Post-Surgical Recovery
- Rehabilitation
- Assisted Walking Device Market Price Range Outlook
- Economy
- Mid-Range
- Premium
- Assisted Walking Device Market Sales Channel Outlook
- Retail Stores
- Online Stores
- Healthcare Providers
- Rental Services
- Assisted Walking Device Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
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Report Attribute/Metric
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Details
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Market Size 2022
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30.16(USD Billion)
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Market Size 2023
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31.17(USD Billion)
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Market Size 2032
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41.914(USD Billion)
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Compound Annual Growth Rate (CAGR)
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3.34% (2024 - 2032)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2023
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Market Forecast Period
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2024 - 2032
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Historical Data
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2019 - 2023
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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Pride Mobility, Drive DeVilbiss Healthcare, Patterson Medical, GF Health Products, Invacare, Sunrise Medical, Permobil, BSN Medical, Apex Medical, Ottobock, Medline Industries, Altimate Medical, Zimmer Biomet
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Segments Covered
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Device Type, Material, Application, Price Range, Sales Channel, Regional
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Key Market Opportunities
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Increasing aging population
Advancements in technology
Growing prevalence of chronic diseases
Expanding healthcare infrastructure
Rising disposable income
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Key Market Dynamics
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Aging Population
Rising Prevalence of Chronic Diseases
Technological Advancements
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Frequently Asked Questions (FAQ) :
The Assisted Walking Device Market reached USD 31.17 Billion in 2023.
The Assisted Walking Device Market is expected to grow at a CAGR of 3.34% from 2024 to 2032.
North America held the largest share of the Assisted Walking Device Market in 2023.
The Orthopedic segment held the largest share of the Assisted Walking Device Market in 2023.
Some of the key competitors in the Assisted Walking Device Market include Stryker, Ottobock, Invacare, and Drive Medical.
The major factors driving the growth of the Assisted Walking Device Market include the increasing geriatric population, rising incidence of chronic diseases, and growing awareness of the benefits of assistive devices.
The challenges faced by the Assisted Walking Device Market include reimbursement issues, lack of skilled professionals, and competition from low-cost imports.
The opportunities for the Assisted Walking Device Market include the development of new technologies, increasing demand from emerging markets, and growing awareness of the importance of mobility and independence for the elderly.
The key trends in the Assisted Walking Device Market include the increasing adoption of lightweight and portable devices, the growing popularity of smart devices, and the increasing focus on patient-centric care.
The Assisted Walking Device Market is expected to reach USD 41.914 Billion in 2032.
