Walking Assist Devices Market Expected to Reach $6.6 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Walking Assist Devices Market," The walking assist devices market size was valued at $3.6 billion in 2022, and is estimated to reach $6.6 billion by 2032, growing at a CAGR of 6.3% from 2023 to 2032. Walking assist devices are innovative tools designed to provide support and enhance mobility for individuals facing challenges in walking or maintaining balance. These devices cater to a diverse range of users, including seniors, people with disabilities, or those recovering from injuries. Among the various types of walking assist devices, canes, crutches, and walkers are some of the traditional options that offer stability and support. In addition, there are smart canes equipped with sensors to detect obstacles and provide feedback to the user. The goal of walking assist devices is to promote independence, improve mobility, and enhance the overall quality of life for individuals with mobility limitations.

Walking assist devices market analysis indicates that key factor that contributes toward the growth of  market includes rise in demand for walking assist devices to prevent fall injuries among elderly population, and global increase in patients suffering from mobility issues due to spinal cord injuries.  Elderly individuals often encounter issues related to balance, strength, and stability, making them prone to falls and injuries. For instance, according to a 2023 report by Center of Disease Control and Prevention, each year, 3 million older people are treated in emergency departments for fall injuries. These falls pose a significant threat to the health and well-being of the elderly, often leading to severe injuries such as fractures and head trauma. Recognizing this vulnerability of elderly individuals, there has been a significant uptick in the adoption of walking assist devices such as walking canes, walkers, and rollators. Walking assist devices market forecast indicates that the rise in geriatric population is expected to significantly contribute in the growth of the walking assist devices market size.

Walking assist devices not only offer enhanced stability and support but also contribute to maintaining the independence and quality of life for the elderly. The rise in awareness about the importance of fall prevention and the positive impact of walking assist devices on the overall well-being of the aging population has contributed substantially to the growth of walking assist devices market.  The walking assist devices market is poised to witness sustained expansion, addressing a critical need in geriatric care as healthcare professionals and caregivers advocate for proactive measures to enhance  mobility and safety of elderly individuals., Thus, the high adoption of walking assist devices to avoid fall injuries among the elderly patients is expected to drive the growth of the walking assist devices industry. 

Furthermore, the walking assist devices market trends indicates that the global surge in patients grappling with mobility challenges stemming from spinal cord injuries has emerged as a pivotal catalyst propelling the growth of the walking assist devices market. Spinal cord injuries, often resulting from accidents or trauma, can significantly compromise  ability of an individual to ambulate independently, profoundly impacting their overall quality of life. For instance, according to a 2023 report by the National Library of Medicine, it was reported that spinal cord injury disrupts neural signaling and is a medical emergency requiring immediate treatment that are anticipated to reduce long-term effects such as paralysis or partial disability of the body. The escalating incidence of such injuries across the globe has created an urgent demand for innovative solutions to enhance mobility and restore a semblance of independence for affected individuals.

The increase in recognition of the importance of walking assist technologies in rehabilitation and daily life has spurred research and development efforts, further fueling the expansion of the walking assist devices industry .However, discomfort during the use of walking assist devices is the major restraint for the market growth. In addition, technological advancement in walking assist devices is a key factor that is expected to propel the market growth in during the forecast period.

The walking assist devices market is segmented on the basis of product, age group, end user, and region. On the basis of age group, the market is bifurcated into geriatric and adults. On the basis of end user, the market is segmented into home care, hospital, and others. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

On the basis of product type, the walker segment was the major revenue contributor in 2022, owing to higher adoption of walkers by geriatric population and by medical professionals for rehabilitation of patients.

On the basis of age group, the geriatric segment was the major revenue contributor in 2022, owing to high mobility impairment among the geriatric population.

On the basis of end user, the homecare segment was the highest revenue contributor in 2022, owing to majority of the consumer segment which is geriatric population prefer to stay at the comfort of their homes and growing trend towareds home based healthcare. 

On the basis of region, North America accounted for a majority of the global walking assist devices market share in 2022 and is anticipated to remain dominant during the forecast period. This is attributed to rise in knee and hip replacement surgeries and strong presence of key players. However, Asia-Pacific is anticipated to witness the fastest growth during the forecast period, owing to rise in geriatric population
 

.Key Findings of the Study

• By product type, the walker segment was the highest contributor to the walking assist devices market share in 2022.
• By age group, the geriatric segment was the highest contributor to the market in 2022.
• By end user, the homecare segment dominated the market in 2022, and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2022. However, Asia-Pacific is expected to grow at the fastest rate during the forecast period.