Gait Trainer Market Poised for Strong Growth, Expected to Reach US$456.3 Million by 2028 | Latest Research By FMI

The Global gait trainer market demand is projected to grow at a steady CAGR of 4.9% throughout the forecast period. Based on the latest industry analysis by Future Market Insights, the market is expected to reach a value of US$ 342.7 million in 2022 and US$ 456.3 million by the close of 2028.

Factors such as the rapid expansion of the elderly population, an uptick in the prevalence of chronic illnesses such as cancer and cardiovascular disease, heightened patient awareness, and substantial investments in clinical innovation are fueling growth in the global healthcare industry. Proactive measures to promote healthcare cost containment, improve primary care delivery, foster medical procedure innovation (including 3-D printing, blockchain, and robotic surgery), ensure safe and effective drug delivery, and establish well-defined healthcare regulatory compliance models are among the initiatives aimed at driving the sector towards a high-growth trajectory in key regional markets.

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Research Methodology

FMI adopts a triangulation methodology to provide accurate and precise market estimations and insights for various medical devices and technologies. This approach primarily relies on patient-level data, the number of procedures, and the capital equipment installation base obtained through experimental techniques. The bottom-up approach is always used to obtain country-specific data and then analyze it to generate global data. This ensures the data's high quality and accuracy.

In the initial stage, secondary research is conducted to determine the feasibility of the target products/technology categories, segments, product offerings, usage patterns, device lifespan, reimbursement scenarios, adoption rates, and future impact of new technologies. Each piece of information is meticulously analyzed to create a solid foundation for primary research.

Primary research involves the participation of demand-side users, including key opinion leaders, physicians, and surgeons, and supply-side providers of medical devices. These stakeholders provide valuable insights on trends, key treatment patterns, adoption rates, purchasing patterns, technological advancements, patient education, manufacturer effectiveness, pricing, and competitive dynamics. This information is further analyzed throughout the research project to ensure comprehensive and accurate market insights.

To project Year-on-Year (Y-o-Y) growth rates for the market, we conduct a quantitative and qualitative assessment of the fundamental factors driving demand, economic factors and cycles, and growth rates, as well as the strategies used by key players. These Y-o-Y growth projections are adjusted and aligned according to the industry/product lifecycle and utilized to develop holistic market numbers.

Additionally, we analyze the annual reports, investor presentations, SEC filings, 10k reports, and press releases of various companies operating in this market segment to obtain detailed information on market size, trends, opportunities, drivers, restraints, key players, and their market shares. These key companies are classified into tiers based on their revenue, product portfolio, and market presence.

It's important to note that these are only the initial steps in developing the market size. In addition to disease-related factors, we use our internal proprietary model for forecasting, which takes into account various macroeconomic factors such as per capita healthcare expenditure, disposable income, industry-based demand driving factors, and their impact on the market forecast trends.

>Competitive Landscape in the Gait Trainer Market

In the realm of gait trainers, manufacturers are committed to creating attractive and professional products that not only meet the needs of a broader customer demographic but also aim to streamline usability while reducing associated costs and complexities. As the demand for automated gait trainers continues to surge, manufacturers are poised to introduce innovative solutions to enhance their global sales.

-In March 2021, the U.S. FDA (Food and Drug Administration) granted marketing authorization for a groundbreaking device designed to assist in the treatment of multiple sclerosis (MS), a prevalent neurological condition among young adults. This revolutionary device, known as the Portable Neuromodulation Stimulator (PoNS), offers short-term relief for gait deficits resulting from mild MS symptoms.
-In May 2021, Ekso Bionics Holdings Inc., a prominent player in the medical exoskeleton technology sector, proudly announced the expansion of its partnership with Kindred Healthcare LLC. Through this strategic partnership expansion, Ekso is now introducing Kindred's EskoNR to four major U.S. hospitals, further solidifying their commitment to delivering attractive and professional healthcare solutions.

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>Top 10 Key Companies Profiled in the Gait Trainer Market

1. Meyland Smith A/S
2. Biodex Medical Systems
3. medica Medizintechnik GmbH
4. ReWalk Robotics
5. Alter G Inc.
6. Rex Bionics Ltd.
7. Ekso Bionics
8. Hocoma AG
9. Otto Bock Inc.
10. Rifton Equipment

>Market Taxonomy

>The global gait trainer market has been segmented on the following basis:

>End User

-Hospitals
-Rehabilitation Center
-Homecare Setting

>Product Type

-Gait Trainer Walker
-Adult
-Pediatric
-Treadmill System
-Exoskeleton

>Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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This release was published on openPR.