Wilmington, Delaware, United States, Sept. 05, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - As per a study by Transparency Market Research (TMR), the revenue of canes and crutches market is prognosticated to reach a value of US$ 1.39 Bn by the end of 2031. Furthermore, the study highlights that the market is expected to develop at a CAGR of 3.4% during the forecast period, from 2022 to 2031.
The report by TMR offers panoramic view of the global canes and crutches market. Hence, it includes thorough study of the growth drivers, challenges, expansion opportunities, R&Ds, and key market segments in canes and crutches market. Moreover, it sheds light on the recent developments in the market for canes and crutches and the statistics on sales, share, revenues, and market demand for canes and crutches.
Major manufacturers are focusing on product innovations in order to cater to the rising demand for highly advanced mobility devices. Hence, they are seen investing heavily in the research projects, states a TMR study on the canes and crutches market. Furthermore, players are developing next-gen mobility devices including Stride Senze, which is a smart cane for safe walking. Such initiatives are driving the market expansion.
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Canes and Crutches Market: Key Findings
- Walking aids are gaining traction in the healthcare industry as the most utilized type of assistive technology, note analysts of a TMR report on the canes and crutches market. Moreover, the World Health Organization (WHO) has included these equipment in the priority assistive products list. Generally, older people are at higher risks of fall diseases owing to the age factor. Hence, the demand for varied types of walking aids and stick-shaped devices including canes is being increasing among this population pool in the recent years. Stick-shaped devices are being increasingly utilized by older people as such devices boost their confidence, thereby levels of independence and activity of this population pool increases. Hence, increase in the adoption of these devices creates largest opportunity for canes and crutches market growth.
- Canes and crutches are also being utilized as assistive devices in order to help an individual with walking disability or ambulation post surgical procedure or operation. Hence, a rise in the number of surgical procedures across the globe is creating demand opportunities in the global canes and crutches market, note analysts at TMR.
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Canes and Crutches Market: Growth Boosters
- Rise in the number of older people globally is expected to play important role in canes and crutches market expansion during the forecast period
- Increase in the number of individuals living with disabilities is boosting the demand for canes and crutches
Canes and Crutches Market: Regional Analysis
- The canes and crutches market in Europe is expected to maintain its prominent position during the forecast period owing to rapid increase in the use of next-gen products by regional disabled people, surge in the healthcare spending, and high degree of understanding on the availability of advanced mobility devices in the region
- The Asia Pacific canes and crutches market is projected to show expansion at notable pace in the forthcoming years owing to many factors including a surge in the regional older population and improved health expenditure in the region
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Canes and Crutches Market: Key Players
Some of the key players profiled in the report are:
- Cardinal Health, Inc.
- DeVilbiss Healthcare
- GF Health Products, Inc.
- Medline Industries, Inc.
- Invacare Corporation
- NOVA Medical Products
- Sunrise Medical
- Ergoactives
- Besco Medical
Canes and Crutches Market Segmentation
- Product Type
- Canes
- Folding Canes
- Quad Canes
- Offset Canes
- Crutches
- Axillary Crutches
- Forearm Crutches
- Accessories
- Canes
- Distribution Channel
- Hospital Pharmacies
- Medical Retail Stores
- online Stores
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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