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Global Walking Assist Devices Market: Overview

Rise in the number of initiatives taken by governments of different countries to make certain the supply of walking assist devices to a large consumer base, and ageing population to drive global walking assist devices market. Besides, increasing incidences of debilitating neurological diseases and Injuries is also expected to augur well for the market. Furthermore, changes in the patient population, as well as increased technological improvements and product leasing, are projected to boost market expansion. The cost of purchasing walking aid equipment, on the other hand, is high.

This market study examines the global market's competitive dynamics, such as collaborations, mergers and acquisitions, and joint ventures. This market is also examined with a specific emphasis on the rapidly developing and expanding market segments and applications. The patients suffering from hemiplegia and different types of paralysis, cerebral palsy (CP), multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS), arthritis, spinal cord injuries (SCI), and lower-limb amputations, generally use the walking assist devices.

This study from Transparency Market Research (TMR) provides a complete insight of the global Walking Assist Devices market. It provides well-researched data on a variety of market aspects in order to provide useful business input for profit generation.

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Global Walking Assist Devices Market: Notable Developments

The global Walking Assist Devices market is competitive, fragmented, and dominated by a few significant firms. Many organisations have used numerous techniques to grow their market shares and raise output, such as product launches, collaborations, acquisitions and mergers, and innovative technology releases.

The noted players that are operational in the global walking assist devices market are Sunrise Medical LLC., Besco Medical Co. Ltd, Better Life Healthcare Ltd, Ossenberg GmbH, Honda Motor Co. Ltd, and Karma Healthcare Ltd.

Global Walking Assist Devices Market: Key Trends

Below-mentioned market trends and opportunities mark the global walking assist devices market:

Rise in the Prevalence of Arthritis to Accentuate Demand in the Market

The rising prevalence of osteoarthritis and rheumatoid, the ageing population, and rising demand for rehabilitation equipment are the primary drivers of the market global walking assist devices market. The expansion of the elderly population is likely to result in the expansion of the market in the years to come. As per the World Health Organization's (WHO) 2020 report, the incidence of rheumatoid arthritis ranges between 0.3 and 1%, with women and developed nations being more affected. Furthermore, by 10 years of the disease's onset, at least half of the patients in industrialized nations appeared unable to work full-time.

In addition to that, the rising incidence of severe neurological illnesses, osteoarthritis, and rheumatoid arthritis is likely to contribute to an increase in the proportion of the population unable to walk. As a result, as the senior population grows, so does the need for walking assist devices all over the world. Walking assist devices also give support, balance, and, finally, the capacity to live independently. The aforementioned elements are to blame for the growing senior population's interest in these technologies.

In addition to that, rise in the healthcare expenditure and government support for the invention of robots to promote health are both considerably contributing to the growth of the market across the globe.

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Global Walking Assist Devices Market: Geographical Analysis

North America is likely to dominate the market due to technical breakthroughs made by the leading companies, existence of well-developed healthcare organizations, a rise in the elderly population, and private organizations offering a variety of supportive services for the convenience of physically challenged persons. As per the Centers for Disease Control and Prevention, the number of individuals in the US who are unable or find it difficult to walk or run was estimated to be over 17.1 Mn in 2016. Furthermore, the rising prevalence of rheumatoid arthritis in the US is propelling the country's walking assist device industry.

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
  • Insights and Tools based on data-driven research
  • 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
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

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.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

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?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Walking Assist Devices Market