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

    (I-BusinessNews.Com, February 13, 2018 ) 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.

    Market Segmentation
    Product Type
    Gait Belts and Lift Vests
    Quad Canes
    Folding Canes
    Canes Market, By Product Type

    Standard Walkers
    Rolling Walkers/Rollators
    Hemi Walkers
    Walkers Market, By Product Type

    Electric Wheelchairs
    Wheelchairs Market, By Product Type
    Front Wheel Drive
    Center Wheel Drive
    Rear Wheel Drive
    Standing Power Wheelchairs
    Motorized/Electric Wheelchairs Market, By Product Type
    Power Scooters
    Boot Scooters
    Road Scooters
    Pavement Scooters
    Power Scooters Market, By Product Type

    The scope of the report provides:
    • The evaluation of the current market for your product or services and the future implications of the market
    • Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future
    • Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment
    • Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share
    • The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porter’s Five Forces
    • The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors
    • Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments
    • Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence
    • Equip you with the information providing with the investment opportunities in the industry

    About Us:
    Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and sksillset dedicatedly serve clients from various industries and regions.

    Market Data Forecast

    Abhishek Shukla


    Source: EmailWire.Com


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