According to United Nations Population Fund, elderly Individuals of age 60 years and above accounted for 12.3% of the worldwide populace in 2015, which is expected to grow to 22% by 2050, accounting for almost two billion people. This creates a notably moneymaking opportunity for a boom in the market. Another element which reasons to frame imbalance is arthritis ailment, according to Centers for Disease Control and Prevention (CDC) by the year of 2040, 78 million people will be afflicted by arthritis within the U.S.
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The Global Walking Assist Devices Market Size is anticipated to grow at 3.9% CAGR from 2018 to 2023 and it is estimated that the global market was valued at USD 5.86 billion in 2018 and is expected to reach USD 7.1 billion by 2023. According to National Rehabilitation Information Center in 2015, 12.6% humans out of general populace had been residing inside the US. Moreover, around 51% out of total disabilities is occurring within the humans having age among 18 to 64 years.
Additionally, according to Centers for Disease Control and Prevention (CDC), in 2015, round 18.2 million adults were unable to stroll because of difficulties in bodily functioning and it is predicted that the variety will grow annually because the charge of diseases which include frightened machine disorder and price of avenue injuries is growing every year.
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The market in North America is growing because of upward push in the aging populace and favorable compensation. The Europe marketplace is growing due to the technological advancements and authorities aid and along with an increase in the spending capability population.
The Walking Assist Devices Market Leaders are Honda Motor Co., Ltd., Permobil Inc., GF Health Products, Inc., Invacare Corporation, Besco Medical Co., LTD., Betterlifehealthcare Ltd., C.T.M. Homecare Product, Inc., Ottobock, Ossenberg GmbH, Pride Mobility Products Corp., Aetna Inc., Sunrise Medical LLC, and Karma Healthcare Ltd.
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