Walking Assist Devices Market Size, Share, Industry Trends and Forecast to 2030

Market Size & CAGR of Walking Assist Devices Market in 2021:

The global walking assist devices market is projected to witness a CAGR of 4.5% from 2021 to 2028. The market size is estimated to reach USD 3.5 billion by 2028. This growth can be attributed to the increasing geriatric population and the rising incidence of mobility disorders worldwide.

COVID-19 Impact on the Walking Assist Devices Market:

The COVID-19 pandemic significantly impacted the walking assist devices market. With lockdowns and restrictions in place, the supply chain was disrupted, leading to a temporary slowdown in market growth. However, as restrictions eased, the market witnessed a surge in demand due to the focus on personal mobility and the need for assistive devices.

Walking Assist Devices Dynamics:

The walking assist devices market is driven by factors such as the increasing prevalence of mobility disorders, technological advancements in assistive devices, and the rising healthcare expenditure worldwide. Additionally, the growing geriatric population and the focus on improving quality of life contribute to the market's growth.

Segments and Related Analysis:

The walking assist devices market is segmented based on product type, end-user, and region. Product types include canes, crutches, walkers, wheelchairs, and others. End-users include hospitals, clinics, ambulatory surgical centers, and home care settings.

By Region Analysis:

The walking assist devices market is analyzed regionally, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market due to the presence of key players, technological advancements, and high healthcare expenditure. Asia Pacific is expected to witness significant growth due to the rising geriatric population and increasing awareness about assistive devices.

Key Market Players and Competitive Landscape:

Key players in the walking assist devices market include Invacare Corporation, Drive DeVilbiss Healthcare, Sunrise Medical, Pride Mobility Products Corp, and others. These companies focus on product innovation, strategic partnerships, and acquisitions to strengthen their market position.

Recent Happenings in the Walking Assist Devices Market:

- In 2022, Invacare Corporation launched a new range of lightweight and ergonomic walking assist devices to cater to the growing demand for mobility solutions.

- Drive DeVilbiss Healthcare announced a strategic partnership with a leading rehabilitation center to enhance their product portfolio and expand their market reach.

- Sunrise Medical introduced a cutting-edge robotic walking assist device that utilizes AI technology to enhance mobility and independence for users.