Rise in the prevalence of sports-related injuries and musculoskeletal disorders among the elder population, increase in R&D activities in the field of walkers and rollators, and significant investments by the government to improve healthcare infrastructure drive the global walkers and rollators market growth
PORTLAND, Ore., Feb. 2, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Walkers and Rollators Market by Type (3-wheeler rollator and walker, 4-wheeler rollator and walker, Others), by Application (65 to 85 years old, Above 85 years old, Young population), by Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global walkers and rollators industry generated $1.66 billion in 2021, and is estimated to reach $2.91 billion by 2031, witnessing a CAGR of 5.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers, Restraints, and Opportunities
Rise in the prevalence of sports-related injuries and musculoskeletal disorders such as osteoarthritis and rheumatoid arthritis among the elder population, increase in R&D activities in the field of walkers and rollators, enhanced healthcare services, and significant investments by the government to improve healthcare infrastructure drive the growth of the global walkers and rollators market. However, high cost associated with these medical devices impedes the global market growth. On the other hand, a rapid increase in geriatric population of countries, such as China, Brazil, and India, the increasing incidence of ailments and chronic diseases such as Parkinson's and arthritis among the population, and lack of healthcare facilities in underdeveloped and developing nations are expected to open new opportunities for the walkers and rollators market growth during the forecast period.
The 4-wheeler rollator and walker segment to dominate during the forecast period
Based on type, the 4-wheeler rollator and walker segment was the largest market in 2021, contributing to nearly three-fifths of the global walkers and rollators market, and is expected to maintain its leadership status during the forecast period. The same segment is projected to witness the fastest CAGR of 6.2% from 2022 to 2031, owing to the advantages offered by 4-wheel rollators, such as their ability to provide more support and stability and accommodate a wider range of heights and higher weight capacities than 3-wheel rollators.
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The 65 to 85 years old segment to maintain a prominent growth during the forecast period
Based on application, the 65 to 85 years old segment held the largest market share of nearly half of the global walkers and rollators market in 2021 and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the fastest CAGR of 6.2% from 2022 to 2031. This is due to the fact that the elderly population is highly prone to falling, which can result in hip, pelvis, femur, and spine fractures, thus driving the segment.
Asia-Pacific to achieve the fastest growth by 2031
Based on region, Asia-Pacific is expected to manifest the fastest CAGR of 6.7% during the forecast period, owing to the presence of pharmaceutical medical device manufacturers in the region as well as the rise in the geriatric population in countries, such as China and India. Moreover, a rise in the prevalence of arthritis and an increase in the number of road accidents in the region drive the segmental growth. However, North America captured the largest share of around two-fifths of the global walkers and rollators market in 2021 and is expected to dominate in terms of revenue in 2031. The presence of several major players and the advancement in technology of walkers and rollator devices in the region would drive the growth of the market.
Leading Market Players
The report analyzes these key players of the global walkers and rollators market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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