NEW YORK, May 29, 2024 /PRNewswire/ — The global walking canes market size is estimated to grow by USD 162.25 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.98% during the forecast period.
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Technavio has announced its latest market research report titled Global Walking Canes Market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Material (Metal, Wooden, and Plastics and other), Distribution Channel (Offline and Online), and Geography (Asia, Europe, North America, and Rest of World (ROW)) |
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Region Covered |
Asia, Europe, North America, and Rest of World (ROW) |
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Key companies profiled |
Alex Orthopedic Inc., Asker Healthcare Group, Besco Medical Ltd., Brazos Walking Sticks, Cardinal Health Inc., Compass Health Brands, ELDERLUXE LLC, Harvy Canes, HurryWorks LLC, Invacare Corp., Jiangsu Yongfa Medical Equipment Technology Co. Ltd., Matsunaga Manufactory Co. Ltd., Medical Depot Inc., Medline Industries LP, MIKIRAD Spotka z o. o., NOVA Medical Products, Royal Medical Solutions, Standers Inc., Sunrise Medical LLC, Vermeiren Group, Vive Health LLC, and Walking Cane Co. |
Key Market Trends Fueling Growth
The global walking canes market is experiencing growth due to the emergence of smart walking canes. These advanced mobility aids offer consumers enhanced user experience through features like health monitoring, GPS tracking, and mobile device connectivity. Smart canes can adapt to individual gait patterns and provide safety features such as fall detection.
The inclusion of technology aligns with digital health trends, appealing to tech-savvy consumers. Smart walking canes promote an active lifestyle and offer a gateway to a connected ecosystem. Companies like Harvy and Invacare lead the market with innovative products.
The market for walking canes is experiencing significant growth, with a notable increase in demand for comfortable and stylish designs. Customizable canes, made from materials like aluminum and composite, are popular choices. Technology plays a role in this industry, with features such as adjustable heights and shock-absorbing tips becoming standard.
Brands offer various designs, including sleek and modern, to cater to diverse consumer preferences. Additionally, digital features like Bluetooth connectivity and built-in flashlights are emerging trends. Demographic shifts, including an aging population, further fuel market expansion. Overall, the walking cane market is evolving to meet the needs of consumers seeking mobility solutions that are both functional and fashionable.
Market Challenges
• The walking canes market faces rising material costs, with aluminum and high-quality wood among the affected. These increases strain production budgets, potentially leading to higher product prices and reduced consumer demand.
• Manufacturers may consider alternative materials, supplier negotiations, or operational efficiencies to mitigate costs. However, these measures may not fully offset the impact, presenting a significant challenge for market growth.
• The Walking Canes market faces several challenges. Old age and mobility issues are key factors driving demand. However, acceptance and adoption rates vary. Consumers seek canes that are functional, comfortable, and stylish. Durability and affordability are also important considerations. Material selection, manufacturing processes, and design innovations are crucial to meet these demands.
• Regulations and certifications add complexity. Competition from other mobility aids and medical devices also impacts the market. Sustainability and e-commerce trends are shaping the future of the Walking Canes industry.
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Segment Overview
Material
1.1 Metal
1.2 Wooden
1.3 Plastics and other
Distribution Channel
2.1 Offline
2.2 Online
Geography
3.1 Asia
3.2 Europe
3.3 North America
3.4 Rest of World (ROW)
1.1 Metal- Metal walking canes, popular mobility aids, are valued for their durability and strength, often made from aluminum or steel. These canes offer users robust support and stability, with many designs being lightweight for enhanced convenience. Adjustable height and folding features add versatility, catering to diverse consumer preferences. Companies like Invacare and Cardinal Health provide a range of metal canes with sturdy aluminum construction, adjustable height, and user-friendly designs. The metal segment is expected to significantly contribute to the global walking canes market due to continuous design innovations.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The Walking Canes Market encompasses a range of assistive devices designed to enhance balance and stability for individuals dealing with mobility issues, elderly population, injuries, or surgeries. These devices, which include walking sticks and canes, come in various designs and materials, catering to both functional and aesthetic needs. Key features include adjustable heights, foldable options for portability, and functional accessories.
The market is driven by the rising risk of falls among the elderly population and those suffering from conditions such as arthritis and osteoporosis. Awareness campaigns and advancements in technology continue to fuel innovation in the market, offering new designs and materials to meet the evolving needs of consumers.
Market Research Overview
The Walking Canes market encompasses a variety of mobility aids designed to assist individuals with mobility challenges. These canes come in different styles, materials, and features, including adjustable height, foldable, and lightweight designs. Devices such as shock-absorbing tips, ergonomic grips, and decorative handles add to their functionality and appeal.
The market for walking canes caters to an aging population and those with disabilities, offering them independence and improved mobility. Additionally, materials like aluminum, fiberglass, and carbon fiber contribute to the durability and affordability of these mobility aids. The market for walking canes is expected to grow due to the increasing global population aging and the rising prevalence of chronic diseases.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Material
Metal
Wooden
Plastics And Other
Distribution Channel
Offline
Online
Geography
Asia
Europe
North America
Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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Website: www.technavio.com/
SOURCE Technavio
