The Asia Pacific Elderly Walker Market would witness market growth of 7.8% CAGR during the forecast period (2023-2030).
The development of musculoskeletal conditions like osteoarthritis and rheumatoid arthritis among the older population has also increased demand for better, more sophisticated walkers, which spurs the expansion of the elderly walker industry. Additionally, the rise in R&D efforts for walkers and rollators has improved healthcare services, and considerable government expenditures have improved healthcare infrastructure, both of which have become essential instruments for small and big enterprises. Because the senior populations of nations such as China and India are growing quickly and represent a sizable market, there is a growing need for elderly walkers in emerging countries as well.
The expansion is anticipated to be fueled by a number of factors, including an increase in orthopedic disorders, an increase in short-term disability and medical emergencies, an increase in musculoskeletal injuries and other chronic illnesses, as well as an increase in the number of elderly people. The majority of those with disabilities or long-term musculoskeletal disorders utilize medical walkers as assistive technology. The need for elderly walkers is expected to increase due to the rising incidence of orthopedic diseases among older individuals throughout the region. Spinal cord injury (SCI) patients are becoming more prevalent, which is projected to be the main driver of market expansion.
India's elderly population has more than quadrupled in size during the previous 50 years. There were 103.83 million older adults, or those over 60, as of 2011, the most recent year for which data is available from the Census. It is anticipated that this figure would rise to 178.59 million by 2031, eventually to 236.01 million, then to 300.96 million. China has one of the world's fastest-growing aging populations, according to the World Health Organization. Due to rising life expectancy and falling birth rates, 28% of China's population is expected to be over 60 by 2040. In 2019 there were 176 million older individuals who were 65 years of age or older and 254 million persons who were 60 years of age or older. A projected 402 million people will be above 60 by 2040, making about 28% of the world's population. The market is expected to expand as a consequence of the region's growing older population.
The China market dominated the Asia Pacific Elderly Walker Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $172.8 million by 2030. The Japan market is experiencing a CAGR of 7.1% during (2023 - 2030). Additionally, The India market would display a CAGR of 8.5% during (2023 - 2030).
Based on End-use, the market is segmented into Hospitals, Home Care, and Others. Based on Type, the market is segmented into Rollators, Knee Walkers, and Standard Walkers. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Elderly Walker Market is Projected to reach USD 2.3 Billion by 2030, at a CAGR of 7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Invacare Corporation, Drive DeVilbiss Healthcare (Medical Depot, Inc.), Compass Health Brands Corporation (Carex Health Brands), Medline Industries, Inc., Briggs Healthcare Corporation, Topro Industrie AS, GF Health Products, Inc., Nova Medical Products, Kaye Products, Inc. and Just Walkers.
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