Canes and Crutches Market is expected to generate USD 1.39 Billion in Revenues by 2031 with CAGR of 3.4%: Report from TMR

Wilmington, Delaware, United States, July 24, 2023 (GLOBE NEWSWIRE) — The global canes and crutches market was worth US$ 957.4 million in 2022. The global canes and crutches market is predicted to grow at a CAGR of 3.4% by 2031. Globally, the market for canes and crutches is expected to reach US$ 1.39 billion by 2031.

The World Health Organization (WHO) estimates that the number of geriatrics worldwide is expected to increase by 12% to 22% between 2015 and 2030. Over 900 million people aged 60 and older lived in 2015, according to the same source.

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The development of advanced and comfortable crutches and canes has been facilitated by advancements in both technology and materials, potentially increasing their market share and demand. Healthcare accessibility and availability play a huge role in creating a demand for crutches and canes. Healthcare infrastructure in strong regions may make it easier for people to get these devices.

Due to the advancement of technology and the demand for software applications grows, the market for crutches and canes is expected to grow. For example, in November 2021, ICanWALK was launched as an interactive platform to support patients, caregivers, and clinicians.

Based on the patient’s injury or impairment and where they are in their recovery journey, videos and short questions are used to teach and evaluate fitting walking aids. ICanWALK is a mobile app that provides information on canes, axillary crutches, and standard walkers, along with the correct fit, gait pattern, and use.

Key Findings of the Market Report

• The demand for folding canes in the market is expected to grow in the years to come as the industry develops.
• Increasing discounts on online stores are expected to contribute to the growth of the market for canes and crutches.
• Due to their popularity and support while walking, quad canes hold a significant share of the canes & crutches market.
• Canes and crutches are expected to grow significantly in the next few years with the introduction of advanced designs by start-up companies.

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Global Canes and Crutches: Growth Drivers

• Due to the growing prevalence of bone and joint disorders, there is expected to be an increase in demand for canes and crutches during the assessment period. For instance, National Library of Medicine data indicate that 460 out of 100,000 people suffer from rheumatoid arthritis. Due to the severity of this affliction, many patients require assistance walking comfortably, resulting in an increase in the sales of canes and crutches.
• The price of crutches and canes has gone down, making them more affordable for patients in the market. Furthermore, robotic exoskeletons, a type of walking aid, are expected to gain popularity to accommodate users who require canes and crutches. Furthermore, the aging population around the world and the increasing number of disabled persons are also contributing to the market’s growth.
• Canes and crutches can be necessary during the recovery period following accidents, injuries, and medical conditions including fractures and surgeries. The demand for these devices fluctuates in accordance with the number of accidents and injuries.
• The use of mobility aids is often required by chronic conditions such as multiple sclerosis, cerebral palsy, or muscular dystrophy, which require long-term use of mobility devices. The prevalence of these conditions may contribute to the consistent demand for crutches and canes.

Global Canes and Crutches: Regional Landscape

• With an increasing elderly population and an increase in disabled people in the Asia Pacific region, demand for canes and crutches is expected to increase.
• A rise in disposable income and a better understanding of how canes and crutches can enhance mobility are driving factors for canes and crutches sales.
• Increasing incidences of arthritis and osteoporosis, along with a well-established healthcare infrastructure, are among the factors contributing to the growth of demand for wellness services in North America.
• Researchers and developers in the European region are expected to increase demand in the near future.
• Healthcare regulations and innovative designs launched by start-up companies are expected to stimulate the market for crutches and canes.

Global Canes and Crutches Market: Key Players

The market for canes and crutches is very fragmented, with a large number of leading players operating across a wide range of product categories. In order to remain competitive in the global market for canes and crutches, key players tend to expand their product portfolio and increase their mergers and acquisitions activity.

• In March 2023, the First Presbyterian Church in Durango is opening a medical equipment-lending closet to assist people with temporary illnesses or injuries.
• In April 2023, the Oregon Coast gained free access to electric, all-terrain wheelchairs provided by David’s Chair Outdoor Mobility Systems. Manzanita and Seaside will begin providing free mobility chairs in early May, which will make visiting easier for visitors with mobility challenges.

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Global Canes and Crutches Market: Segmentation

Product Type

• Canes
  • Folding Canes
  • Quad Canes
  • Offset Canes
• Crutches
  • Axillary Crutches
  • Forearm Crutches
• Accessories

Distribution Channel

• Hospital Pharmacies
• Medical Retail Stores
• Online Stores

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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