The global market is expected to witness growth in the coming years, owing to factors such as the increase in the number of initiatives undertaken by governments of various countries to ensure availability of walking assist devices to a huge consumer base, rise in aging population, and increasing incidences of Debilitating Neurological Diseases Injuries.
What the Market Looks Like?
The global walking assist devices market is expected to reach $6.57 Billion by 2020, at a CAGR of 3.9% from 2015 to 2020. North America accounted for the largest share in the global walking assist devices market in 2014.
Global market is broadly classified on the basis of product and geography. Based on product, the market is broadly segmented into gaits belts and lift vests, canes, crutches, walkers, wheelchairs, and power scooters. The wheelchairs segment contributed the largest share of the market in 2014.
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Walking Assist Devices Market Stakeholders
- Companies Manufacturing Walking Assist Devices
- Medical Device Distributors
- Healthcare Institutions (Hospitals, Medical Schools, and Governing Bodies)
- Health Insurance Providers
- Research and Consulting Firms
- Regulatory Authorities
The wheelchairs segment of the global market is the largest and also the fastest growing segment. The rise in geriatric population across the globe and increase in the number of patients suffering from mobility impairment due to spinal cord injuries and paraplegia are some factors leading to growth of the wheelchairs segment of the global market.
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