Ambulatory devices are used for proper and stable ambulation in activities such as walking. A wide range of tools comes under the cover of ambulatory aids. Ambulatory aid equipment is mostly made of lightweight materials such as metals or wood. This ensures convenience for patients.
Based on product, the global ambulatory aids market can be classified into walkers, crutches, canes, and others. The walkers segment is projected to account for a significant share of the market in the near future due to the low cost of walkers, their simple operation, and constant demand from patients across all income groups. In terms of end-user, the global ambulatory aids market can be categorized into hospitals, nursing homes, ambulatory surgical centers, home health care, and others. The home health care segment is expected to constitute a considerable share of the market during the forecast period due to the increase in demand for self-treatment and patients’ preference to buy this equipment for home use due to their need for its long-term use.
The growth of the ambulatory aids market is directly related to the overall development of the health care industry. Rise in the number of injuries and surgeries is anticipated to drive the global ambulatory aids market. Moreover, rise in the geriatric population and increase in the number of disabilities are anticipated to boost demand for goods related to ambulatory equipment. Additionally, key players are investing significantly in establishing new manufacturing units in order to boost their production capacity for their respective business divisions that cater to patients in emerging regions. These factors are projected to boost the market in the coming years. However, although most ambulatory aids are lightweight, they are costly, and their maintenance is tough. This is anticipated to limit the growth of the market during the forecast period.
In terms of region, the global ambulatory aids market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market. The region is projected to account for a significant share of the global ambulatory aids market during the forecast period due to a rise in the number of injuries among people due to accidents and high health care spending. According to a report of The National Ambulatory Medical Care Survey, every year, more than 3 million people visited the emergency department of hospitals in the U.S. due to foot and ankle injuries. Moreover, many independent studies have revealed that every year more than 3.5 million children under the age of 14 receive medical treatment for sports injuries in the U.S.. Rise in the geriatric population and a rise in emerging trends for rental provision of patient ambulatory aids in home care setting are projected to propel the market in the region. Launch of new products with technologically advanced and ergonimcal design features by key players are estimated to drive the market in Asia Pacific. Moreover, increase in number of patients with mild balance and walking problems in countries such as China and Japan is likely to drive the ambulatory aids market in Asia Pacific. Rise in the prevalence of accidents, availability of advanced ambulatory equipment, improved health care infrastructure, and government initiatives to provide better mobility aid services are expected to propel the ambulatory aids market in Middle East & Africa in the near future.
Major players operating in the global ambulatory aids market include Roma Medical, Invacare Corporation, Apex Medical Corp, Bayport Healthcare OTS Ltd, Cardinal Health, and Companion Walker Ltd..
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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