WALKING ASSIST DEVICE MARKET ANALYSIS
Increasing aging population, disabilities and injuries around the globe expected to favor the demand for walking assist devices market in the near future
North America and Europe account for major share in the global walking assist devices market. The near future is expected to witness Asia Pacific taking the pole position, due to continuous rise in aging population and rate of disabilities around the globe.
As per United Nations Population Fund, people aged 60 years and above accounted for 12.3% of the global population in 2015, which is expected to increase to 22% by 2050, accounting for 2 billion people. This creates a highly lucrative growth opportunity for growth of the market.
The demand for walking assisted devices is expected from developed as well as from emerging countries due to increase in rate of aging population among these region. Also, these devices are available at low cost and rise in high disposable income leading to increase in the demand for walking assist devices.
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