(PharmaNewsWire.Com, October 28, 2021 ) 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. The geography covered in this report are North America, Europe, Asia-Pacific and Rest of the World (RoW). The market in North America accounted for the largest share of the global market in 2014.
According to a new market research report “ Walking Assist Devices Market by Product Type (Gait Belts & Lift Vests, Canes, Crutches, Walker, Wheelchairs, Power Scooters), and Region (North America, Europe, Asia-Pacific and ROW) – Global Forecast to 2020“, The global market is expected to reach USD 6.57 Billion by 2020, at a CAGR of 3.9% from 2015 to 2020.
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. Moreover, the trends in patient community and growing technological advancements & product leasing are also expected to drive the growth of the market. However, cost of purchase of walking assist devices is high.
Browse in-depth TOC on “Walking Assist Devices Market“
The global Walking Assist Devices Market report defines and segments the walking assist devices market globally with analysis and forecast of revenue.
he global walking assist devices market growth is attributed to the rising aging population, increasing incidences of debilitating neurological diseases & injuries, and technological advancements & products leasing that have led to the increase in usage of walking assist devices.
The rise in elderly population and increasing 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 expected to grow from 841 Million in 2013 to more than 2 Billion by 2050, which is more than double the population as of 2013.
This market is segmented and forecast on the basis of product, and geography. The product comprises of gaits belts and lift vests, canes, crutches, walkers, wheelchairs, and power scooters. The market is further segmented and forecast on the basis of major geographies such as North America, Europe, Asia-pacific and Rest of the World (RoW). These major geographies are further sub-segmented into major countries. The global walking assist devices market was dominated by North America in 2014.
The market in North America is growing due to rise in aging population and favorable reimbursement. The European market is growing due to the technological advancements and government support and along with increase in the spending capacity population.
This report also includes the market share, approach for arriving at the market size, new technology developments, product matrix, life cycle analysis, Porter’s five forces analysis and price analysis by product. In this report, market metrics are also included such as drivers, restraints and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of key players in the market including major companies which provide walking assist devices as a product.
The research study is aimed at identifying emerging trends and opportunities in the global walking assist devices market along with detailed classifications, in terms of revenue. It provides comprehensive competitive landscape and identifies the key players with respect to market size and market share. The research study also includes a detailed segmentation of the global walking assist devices market, on the basis of product, and region.
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