Press release
Global Walking Aids Market Overview 2033 : Forecasted Market Size And Growth Rate
Walking Aids Global Market Report 2024
According to The Business Research Company's, The walking aids market size has grown strongly in recent years. It will grow from $2.81 billion in 2023 to $3.03 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to aging population, prevalence of musculoskeletal disorders, awareness and education, healthcare infrastructure development, rehabilitation programs, government initiatives, and changing lifestyles.
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Market Drivers and Trends:
The high prevalence of physical disabilities is expected to propel the growth of the walking aid market going forward. Physical disabilities are impairments that substantially limit one or more of an individual's major life activities due to a physical condition. Walking aids help individuals with physical disabilities by enhancing mobility, stability, and independence. For instance, in March 2023, according to the World Health Organization, a Switzerland-based intergovernmental organization, approximately 16% of the global population, or one out of every six individuals, which is around 1.3 billion people, are expected to face notable disabilities in 2023. Therefore, the high prevalence of physical disabilities is driving the growth of the walking aid market.
Major companies operating in the walking aid market are focused on developing innovative products, such as rear-wheel-drive power wheelchairs, to increase their profitability in the market. The rear-wheel-drive power wheelchair is a modern, motorized mobility device designed for individuals with mobility impairments, offering improved agility and support as a walking aid. For instance, Invacare Corporation, a US-based medical equipment company, launched AVIVA STORM RX. It is notable for its smooth ride sure-grip suspension system, which offers a comfortable, quiet ride with minimal vibrations. It also features integrated safety elements like tie-down brackets and LED lighting, an easy-access battery isolation switch for air travel, and an option for high-speed 7.5 mph motors. This wheelchair is particularly user-friendly for those transitioning from manual to power wheelchairs.
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Major Key Players of the Market:
Cardinal Health Inc., Hill-Rom Holdings Inc., OttoBock Healthcare GmbH, Invacare Corporation, Numotion LLC, Permobil AB, Sunrise Medical LLC, Pride Mobility Products Corporation, Etac Ab, Golden Technologies, Direct Healthcare Group Ltd., Graham-field Health Products Inc., Küschall, Vermeiren Group, Medical Depot Inc., Levo AG, Merits Health Products Co. Ltd., Nova Medical Products Inc., Meyra GmbH, Medline Industries LP, Human Care HC AB, Karman Healthcare Inc., Timago, Besco Medical Limited, TOPRO Industri AS, Bischoff & Bischoff
Walking Aids Market 2024 Key Insights:
• The walking aids market is expected to grow to $3.90 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Rising Prevalence Of Physical Disabilities Fuels Walking Aids Market Growth
• Exploring The Latest In Power Wheelchair Technology
• North America was the largest region in the walking aids market in 2023
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