Global Walking Assist Devices Market: Overview
The assistive technology comprises rehabilitative, assistive, and adaptive devices for people with disabilities. This technology provides them to complete a task independently where they are unable to accomplish or have great difficulty to do a task. This technology enhances the processor changes methods to deal with it. Walking assist devices are robotic devices used for walking under the guidance of doctors and therapists.
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Global Walking Assist Devices Market: Segmentation
The global walking assist devices market is segregated based on product and geography. The product segment is categorized as power scooters, crutches, gaits belts & lift vests, wheelchairs, walkers, and canes. Of these, wheelchairs segment is the leading segment among others, which contributed for the largest market share. Geographically, the global market is bifurcated as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Global Walking Assist Devices Market: Growth Factors
Moreover, increasing government initiatives to ensure availability of walking assist devices to aging population in order to meet the demand is expected to fuel the global walking assist devices market. However, increasing prevalence of the neurological diseases is anticipated to boost the global market in future. Conversely, high cost associated with walking assist devices and some issues related to walking assist devices may hinder the global walking assist devices market growth.
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Global Walking Assist Devices Market: Regional Analysis
North America holds the largest market share in the global walking assist devices market owing to increased technological advancement and growth in the aging population. In addition, augmenting growth in leasing product activities and exhausting neurological diseases & injuries in this region may lead to increasing usage of walking assist devices. In addition, increasing reimbursement and financial assistance from the government and other financial bodies is also anticipated to propel growth in the global walking assist devices market. Europe is growing at a significant rate in the global market, whereas Asia Pacific may show considerable growth in coming years.
Global Walking Assist Devices Market: Competitive Players
Major players in the global walking assist devices market are Invacare Corporation, Better life healthcare Ltd., Ossenberg GmbH, Aetna Inc., GF Health Products, Inc., Pride Mobility Products Corp., and Otto Bock. Other key players influencing the global market are Honda Motor Co., Ltd., Karma Healthcare Ltd., Besco Medical Co., LTD., Sunrise Medical (US) LLC, C.T.M. Homecare Product, Inc., and Permobil Inc. Many companies have adopted various strategies such as partnerships, mergers & acquisitions, product launches, new technology launches, to increase their market share and boost production. For example, Honda Motor Co. took an initiative to lease walking assist devices to the rehabilitation centers and hospitals throughout Japan.
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Global Walking Assist Devices Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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