About Walking Assist Devices
Walking Assist Devices helps users to walk more efficiently based on the inverted pendulum model. These devices are designed to be used in walking therapy/training under the guidance of a doctor and/or therapist. As per the sources, 24 million Americans are unable to walk a mile in 15 minutes. Also, 18% of women and 9.6% of men aged over 60 years have symptomatic osteoarthritis. This rising occurrence of disabilities in walking is driving the demand of the market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The global walking assist devices market is fragmented due to the presence of several manufacturers at the global and regional levels. The level of competition among the companies in the walking assist devices market is intense and manufacturers focus on developing customized products for the customers. The companies are seeking ways to reduce cost, improve product quality, and production efficiency. Analyst at AMA Research estimates that United States and European Players will contribute the maximum growth to Global Walking Assist Devices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Invacare Corporation (United States), Ossenberg Gmbh (Germany), Besco Medical Co.,Ltd (China), Meyra Group S.A. (Poland), Sunrise Medical, Inc. (United States), Drive Medical (United States), Betterlifehealthcare Ltd. (England), Ottobock (Germany), Permobil Inc. (Sweden), Gf Health Products, Inc. (United States), Electric Mobility Euro Ltd. (United Kingdom), Comfort Orthopedic Co. Ltd (Taiwan), Levo Ag (Switzerland), Karma Health Care Ltd. (India), Honda Motor Co., Ltd. (India) and Pride Mobility Products Corp. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Walking Assist Devices market by Type (Powered Walking Assist Devices and Manual Walking Assist Devices) and Region.
On the basis of geography, the market of Walking Assist Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Walking Assist Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device Type, the sub-segment i.e. Gaits Belts & Lift Vests will boost the Walking Assist Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Personal Use will boost the Walking Assist Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Technological Advancements & Product Leasing
Market Growth Drivers:
The Rise In The Elderly Population, Increasing Number Of Accidents Leading To Sever Leg Injuries and Increasing Demand for wheelchairs in Hospitals
Challenges:
Availably of Low Cost Counterfeit Products
Restraints:
High Cost of Walking Assist Devices
Opportunities:
Prevalence Of Debilitating Neurological Diseases and Increasing Government Healthcare Expenditure And Funding
In February 2020, Honda R&D Americas, Inc. collaborated with The Ohio State University to research the safety and potential positive impact of Honda's Walking Assist Device. This device aimed to improve the mobility of people with Parkinson's disease (PD).
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Walking Assist Devices Manufacturer, Healthcare Institutions, Medical Device Suppliers and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.