Portland, OR, March 05, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled “Walking Canes Market by Material (Wooden, Carbon fiber, Metal, and Others), End Use (Aged Use, Patient Use, and Decoration Use), and Distribution Channel (Retail Stores, Online Retail, and Specialty Medical Stores): Global Opportunity Analysis and Industry Forecast, 2023–2032." According to the report, the global walking canes market was valued at $1.6 billion in 2022, and is projected to reach $2.5 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032.
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Prime determinants of growth
The growth of the walking canes market is majorly driven by many factors. The aging global population, coupled with the prevalence of mobility issues such as arthritis, has created a heightened demand for mobility aids such as walking canes. Increased awareness about the benefits of these aids, along with technological advancements leading to more comfortable and functional designs, has contributed to their widespread adoption. Moreover, the incorporation of fashion elements and customization options has transformed walking canes into both practical and stylish accessories. Furthermore, the emphasis on an active lifestyle, supported by canes designed for various terrains, aligns with health and wellness trends. The growth of e-commerce platforms has also facilitated broader accessibility to a diverse range of walking canes, catering to individual preferences and needs. Overall, the walking canes market is expanding as it addresses the evolving requirements of a diverse consumer base by seeking both mobility support and aesthetic appeal.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size In 2022 | $1.6 Billion |
| Market Size In 2032 | $2.5 Billion |
| CAGR | 4.9% |
| No. Of Pages In Report | 260 |
| Segments Covered | Material, End Use, Distribution Channel, And Region |
| Drivers |
|
| Opportunities | Rise In Technological Integration |
| Restraints | Availability Of Alternative Mobility Aids Affordability Concerns |
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The wooden segment to maintain its leadership status throughout the forecast period
By material, the wooden segment held the highest market share in 2022, accounting for more than two-fifths of the walking canes market revenue and is estimated to maintain its leadership status throughout the forecast period. The demand for wooden walking canes has increased significantly, in recent years. The use of wooden canes provides consumers the choice of lighter and heavier canes according to their convenience. Moreover, many consumers also use wooden walking canes for medical reasons, such as providing support for balance issues or helping to alleviate pressure on joints. In addition, increase in awareness of health and wellness, coupled with a desire for fashionable accessories, contributes to the demand for customizable and stylish wooden canes. The sustainable and eco-friendly considerations in manufacturing have become more crucial which align with the growing environmental consciousness. The aforementioned factors have boosted the demand for the segment.
The aged use segment to maintain its leadership status throughout the forecast period
By end use, the aged use segment held the highest market share in 2022, accounting for more than half of the walking canes market revenue and is estimated to maintain its leadership status throughout the forecast period. The aged use of walking canes is a multifaceted aspect of promoting healthy aging, enabling seniors to maintain their independence and well-being. As the global population continues to age, there is a growing demand for mobility aids which include walking canes to support seniors in maintaining an active and independent lifestyle. Moreover, walking canes also help to distribute weight more evenly, which reduces strain on joints, especially in the lower extremities. This is beneficial for seniors dealing with conditions such as arthritis or joint pain. The walking canes also provide extra support during the recovery process, which aids in regaining strength and mobility. In addition, the use of a walking cane can significantly boost the confidence of elderly individuals, allowing them to move about more freely and independently.
The retail store segment to maintain its leadership status throughout the forecast period
By distribution channel, the retail store segment held the highest market share in 2022, accounting for more than half of the walking canes market revenue and is estimated to maintain its leadership status throughout the forecast period. The global increase in the aging population is a significant growth factor for retail stores selling walking canes. As individuals age, there is a higher likelihood of requiring mobility aids, and retail stores cater to this expanding demographic. Moreover, retail stores offer a diverse range of walking canes with various designs, materials, and features that cater to a broader customer base. Overall, retail stores provide options that suit different preferences and needs, which contributes to increased sales of walking canes.
North America to maintain its leadership status throughout the forecast period
By region, North America held the highest market share in 2022, accounting for one-third of the walking canes market revenue and is estimated to maintain its leadership status throughout the forecast period. A substantial aging population, coupled with a higher prevalence of chronic conditions such as arthritis, has fueled the demand for walking canes as essential mobility aids. The region's robust healthcare infrastructure ensures easy access to medical devices, including walking canes, while the higher average disposable income allows individuals to invest in quality products with advanced features. In addition, the cultural acceptance of using mobility aids is more pronounced in North America, contributing to the widespread adoption of walking canes without the associated stigma. The region's commitment to innovation in product design, coupled with a well-established retail infrastructure, further facilitates the accessibility and popularity of walking canes, making North America a key player in the market.
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Leading Market Players: -
TreasureGurus
Medical Depot, Inc
Carex Health Brands
NOVA Medical Products
Royal Canes
Harvy Canes
Safex Inc.
Alex Orthopedic Inc
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter’s five forces analysis to determine the factors affecting market growth.
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