The global walking assist device market is expected to reach USD 6.57 Billion by 2020, at a CAGR of 3.9% from 2015 to 2020.
The global walking assist device market is expected to witness growth in the coming years, owing to factors such as the increase in the number of initiatives undertaken by governments of various countries to ensure availability of walking assist device to a huge consumer base, rise in aging population, and increasing incidences of Debilitating Neurological Diseases & Injuries. Moreover, the trends in patient community and growing technological advancements & product leasing are also expected to drive the growth of the market. However, cost of purchase of walking assist device is high.
Global market is broadly classified on the basis of product and geography. Based on product, the market is broadly segmented into gaits belts and lift vests, canes, crutches, walkers, wheelchairs, and power scooters. The wheelchairs segment contributed the largest share of the market in 2014. The geography covered in this report are North America, Europe, Asia-Pacific and Rest of the World (RoW). The market in North America accounted for the largest share of the global walking assist device market in 2014.
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The report also provides a detailed competitive landscaping of companies operating in this market. Segment and country-specific company shares, new product launch, M&A, and product approvals of the major companies would be detailed. Honda Motor Co., Ltd., Permobil Inc., GF Health Products, Inc., Invacare Corporation, Besco Medical Co., LTD., Betterlifehealthcare Ltd., C.T.M. Homecare Product, Inc., Ottobock, Ossenberg GmbH, Pride Mobility Products Corp., Aetna Inc., Sunrise Medical (US) LLC, and Karma Healthcare Ltd., are some of the key players operating in this market. These companies have adopted various strategies, such as merger & acquisition and partnership, among others, to achieve growth in the global market.