Dublin, Nov. 03, 2023 (GLOBE NEWSWIRE) -- The "Elderly Walker Market Size, Share & Trends Analysis Report By Type (Standard Walkers, Knee Walkers, Rollators), By End-use (Hospitals, Home Care), By Region, And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global elderly walker market size is expected to reach USD 2.4 billion by 2030, expanding at 6.9% CAGR from 2023 to 2030, according to this report.
Increase in geriatric population, rise in prevalence of chronic disorders such as arthritis, tendonitis, Parkinson's disease, conversion disorder, increase in R&D investments for the development of advanced mobility products are some major factors driving the market growth. Furthermore, government initiatives to support reimbursement policies, and the surge in demand for rehabilitation devices and equipment succeeding procedures are other key factors driving the growth of the market.
The technologically advanced innovations are also transforming the walkers, which are expected to serve as a key factor for the market growth during the forecast period. For instance, the introduction of devices with new features such as rollators with the attached laser for Parkinson's patients is anticipated to propel market growth over the forecast period. The rise in disposable income coupled with an increase in awareness in developed countries is anticipated to further boost market demand.
The elderly walkers industry was disrupted during the COVID-19 pandemic in 2020 which affected the manufacturing and transportation of the devices. The decreasing production of these mobility devices owing to the pandemic has negatively affected the industry's growth in the first half of 2020. The market was likely to grow at a lucrative rate after the second half of 2020 as there was an ease of restrictions and an increase in demand and requirement for the devices.
The surge in the number of surgical procedures in elderly patients, due to an increase in cases of cardiovascular and neurological diseases and a rise in the number of trauma & accident cases, is also contributing to the market growth. The North America regional market will retain its leading position throughout the forecast years. Developing healthcare infrastructure and a rise in healthcare expenditure are some of the factors contributing to its large share. Asia Pacific is expected to register the fastest CAGR during the forecast period due to the rising demand for elderly walkers as a result of the growing geriatric population and increasing disposable income and awareness levels about walking aid.
Companies Mentioned
- Invacare Corporation
- Drive Medical
- Carex Health Brands
- Medline Industries
- Briggs Healthcare
- Topro USA
- GF Health Products, Inc
- Kaye Products, Inc
- Nova Medical Products
- Just Walkers
Elderly Walker Market Report Highlights
- Based on type, the market is segmented into standard walkers, knee walkers, and rollators. The rollators segment held the largest revenue share of the elderly walkers industry in 2022, due to the increase in preference of the elder population towards rollators
- Based on end-use, the market has been further categorized into hospitals, home care, and others. The hospitals segment accounted for the largest share of the market in 2022. The segment's rapid growth is primarily attributed to the high number of surgeries performed and the increase in the usage of elderly walkers in hospitals
- The North American region is expected to dominate the market and held the largest revenue share of over 35.6% in 2022, owing to the increasing geriatric population and increase in the prevalence of arthritis and Parkinson's disease
- Asia Pacific is estimated to grow at the fastest rate during the forecast period due to the increasing investment in healthcare infrastructure in recent years, particularly in emerging economies such as China and India
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 105 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.4 Billion |
| Forecasted Market Value (USD) by 2030 | $2.4 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Segmentation and Scope
3.2. Market Lineage Outlook
3.2.1. Parent Market Outlook
3.2.2. Related/Ancillary Market Outlook
3.3. Market Trends and Outlook
3.4. Market Dynamics
3.5. Market Restraint Analysis
3.6. Business Environment Analysis
3.6.1. SWOT Analysis; By Factor (Political & Legal, Economic and Technological)
3.6.2. Porter's Five Forces Analysis
3.7. COVID-19 Impact Analysis
Chapter 4. Product Business Analysis
Chapter 5. End-Use Business Analysis
Chapter 6. Regional Business Analysis
Chapter 7. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/9599c1
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