Walking Assist Devices Market Size Worth $6.57 Billion by 2021 | CAGR: 19.6%

Global Walking Assist Devices Market Size is anticipated to grow at 3.9% CAGR from 2016 to 2021 and it is estimated that the global market was valued at USD 5.43 billion in 2016 and is expected to reach USD 6.57 billion by 2021.The assistive technology comprises rehabilitative, assistive, and adaptive devices for people with disabilities. This technology provides them to complete a task independently where they are unable to accomplish or have great difficulty to do a task. This technology enhances the processor changes methods to deal with it. Walking assist devices are robotic devices used for walking under the guidance of doctors and therapists. The increasing geriatric population and increase in the technological advancements are some factors that have led to the growth of the global walking assist devices market. According to the World Health Organization (WHO), the global population in the age group of 60 years and above is anticipated to grow from 841 Million in 2013 to more than 2 Billion by 2050, which is more than double the population as of 2013.

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The walking assist devices market growth is driven by the rise in geriatric population, increase in the instances of debilitating neurological diseases & injuries, and technological advancements & product leasing that have led to the rise in usage of walking assist devices. Moreover, increase in government initiatives to ensure availability of walking assist devices to the geriatric population in order to meet the demand is expected to fuel the global walking assist devices market. However, increase in the incidence of the neurological diseases is expected to boost the global market in future. Be that as it may, high cost associated with walking assist devices and some issues related to walking assist devices may hinder the global walking assist devices market growth.

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The global Walking Assist Devices Market Segmentation by Product Type. On the basis of Product Type, it is segmented Gait Belts & Lift Vests, Canes, Crutches, Walker, Wheelchairs and Power Scooters. The wheelchairs segment contributed the largest share in this market segment. The demand for the walking devices is rising amongst the geriatric population mainly due to benefits, such as the provision of support, balance, and the subsequent ability to live independently. Moreover, the demand for the rehabilitation equipment is rising as a consequence of the significant role they play in bettering the lives of the physically-challenged.

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On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia-Pacific and Middle East and Africa. The market in North America accounted for the largest share of the walking assist device followed by Europe. the rise in the rates of obese population have been driving the procedure growth but Europe-wide effort to cut the healthcare costs to reduce reimbursements, will compel patients to opt for alternative surgeries like Arthroscopic Debridement and MIS. The European market is growing due to the technological advancements and government support and along with increase in the spending capacity population. Asia-Pacific is anticipated to register the largest growth rate.

The Walking Assist Devices Market Leaders are Honda Motor Co., Ltd., Permobil Inc., GF Health Products, Inc., Invacare Corporation, Besco Medical Co., LTD., Betterlifehealthcare Ltd., C.T.M. Homecare Product, Inc., Ottobock, Ossenberg GmbH, Pride Mobility Products Corp., Aetna Inc., Sunrise Medical LLC, and Karma Healthcare Ltd.

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