As per the research report, the size of the Asia Pacific Walking Assist Devices market is valued at USD 0.99 billion in 2023 and is anticipated to reach USD 1.32 billion by 2028, at 5.78% CAGR during the forecast period 2023 to 2028.
The market for walking aid devices in the Asia Pacific is driven by the rising prevalence of rheumatoid and osteoarthritis, increased need for rehabilitation equipment, and an increase in the older population.
An increase in the number of measures done by governments in different countries such as India and China to assure the availability of walking assist devices to a broad consumer base and an aging population is one of the primary drivers driving the Asia Pacific walking assist devices market. Furthermore, the market is projected to grow as people with crippling neurological illnesses, and traumas rise.
Furthermore, the market is propelled ahead by the patient community's preferences, rising technological developments, and product leasing.
The rise in healthcare spending and government support for health-promoting robots are driving market expansion in the Asia Pacific.
The increased prevalence of osteoarthritis and rheumatoid arthritis, the aging population, and the rising need for rehabilitation equipment drive the market for walking assist devices in the Asia Pacific. In addition, the elderly population is predicted to expand in the following years, resulting in market expansion.
Another condition that causes body imbalances is arthritis. According to Disease Control and Prevention, 78 million Chinese people will develop arthritis by 2040. (CDC). Furthermore, people between 18 and 64 account for roughly 51% of all disabilities.
Changes in the patient population and increased technical improvements, and product leasing are likely to drive market growth. On the other hand, the cost of obtaining walking aids is high.
For the impoverished and in remote areas, high-tech infrastructure and equipment are challenging to come by. Therefore, the government should improve facilities and establish programs to help the less fortunate.
This research report on the APAC Walking Assist Devices Market has been segmented and sub-segmented into the following categories:
By Product Type:
Increase in the vast number of initiatives undertaken by governments of various countries to ensure that walking assist devices are available to a large user base, given the aging population and rising rates of Debilitating Neurological Diseases and Injuries are the factors increasing the APAC walking assist devices market.
Countries such as India, China, and Japan are due to the continuous rise in the aging population and the number of individuals with disabilities.
According to the Centers for Disease Control and Prevention (CDC), around 18.2 million people will not walk in 2020 due to physical constraints. As a result, the risk of heart disease is expected to increase year after year. The number of nervous system diseases and traffic accidents, on the other hand, is rising.
As the senior population in the Asia Pacific develops, the demand for walking aids increases. The walking aid gadget also provides balance, support, and the ability to live independently. The factors above are to blame for the popularity of walking help gadgets among the elderly.
KEY MARKET PLAYERS
Top companies leading in the APAC Walking Assist Devices Market profiled in the report are C.T.M. Homecare Product, Inc., Ottobock, Ossenberg GmbH, Honda Motor Co., Ltd., Permobil Inc., GF Health Products, Inc., Invacare Corporation, Besco Medical Co., LTD., Betterlifehealthcare Ltd., Pride Mobility Products Corp., Aetna Inc, and Karma Healthcare Ltd, Sunrise Medical LLC.,
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