“Global Walking Canes Market to reach a market value of USD 2.2 Billion by 2031 growing at a CAGR of 4.9%”
The Global Walking Canes Market size is expected to reach $2.2 billion by 2031, rising at a market growth of 4.9% CAGR during the forecast period. In the year 2023, the market attained a volume of 48,975.9 thousand units, experiencing a growth of 11.9% (2020-2023).
Online retailers offer a wide selection of walking canes in various styles, designs, materials, and price ranges, catering to diverse consumer preferences and requirements. Therefore, the online retail segment acquired 28% revenue share in 2023. Also, Russian online retailers would sell 1,100.41 thousand units of these canes by 2031. Online retailers have many products, such as custom-made wooden canes, contemporary ergonomic models, and specialty models for medical needs. These items may not be easily accessible in local stores.
As the global population ages and life expectancy increases, there is a noticeable surge in the demand for mobility aid, particularly among seniors and elderly individuals. The demographic shift toward an older population result from various factors, including advancements in healthcare, improved living standards, and declining birth rates in many countries. Consequently, more of the population is entering the senior age bracket, where mobility issues become more prevalent. Thus, these factors will boost the demand in the market. Additionally, the increasing prevalence of chronic conditions such as arthritis, osteoporosis, and musculoskeletal disorders significantly contributes to the demand. The prevalence of these chronic health conditions is increasing on a global scale because of sedentary lifestyles, dietary changes, and elderly populations. Hence, these factors can lead to increased demand for walking cane in the coming years.
However, these canes, particularly those with advanced features or ergonomic designs tailored for enhanced comfort and support, often come with higher price tags. This reality presents a significant challenge for budget-conscious consumers, particularly those with fixed incomes or limited financial resources. For many individuals facing mobility challenges, purchasing a walking cane represents a necessary investment in their daily lives. Therefore, these factors can hamper the growth of the market.
On the basis of end use, the market is divided into aged use, patient use, and decoration use. In 2023, the patient use segment witnessed a substantial 34.11% revenue share in the market. In terms of volume, the patient use segment registered 15,726.2 thousand units canes in 2023. Surgical procedures have increased in frequency due to developments in medical technology. Patients undergoing these procedures often require these canes during recovery and rehabilitation to aid mobility and promote healing. Therefore, owing to these aspects, the segment will witness increased demand in the coming years.
Based on material, the market is segmented into wooden, carbon fiber, metal, and others. In 2023, the carbon fiber segment garnered a 28.90% revenue share in the market. These canes made of carbon fiber are highly regarded for their lightweight design, which enables individuals of all ages and abilities to handle them effortlessly. Despite their low weight, carbon fiber canes are exceptionally strong and durable, providing reliable support and stability for users without compromising performance. Therefore, these factors will help in the growth of the segment.
Based on distribution channel, the market is divided into retail stores, online retail, and specialty medical stores. In 2023, the online retail segment witnessed 28% revenue share in the market. In terms of Volume, the Online retailers sold a total of 15,873.1 thousand canes in 2023. Online retail offers unmatched convenience and accessibility for consumers, allowing them to browse and purchase these canes from the comfort of their homes at any time of the day.
Free Valuable Insights: Global Walking Canes Market size to reach USD 2.2 Billion by 2031
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured 35% revenue share in the market in 2023. The prevalence of chronic health conditions such as arthritis, osteoporosis, and musculoskeletal disorders is on the rise in North America. As chronic conditions continue to increase, so does the demand for these canes in the region. Therefore, the segment will grow rapidly in the coming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.5 Billion |
| Market size forecast in 2031 | USD 2.2 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 4.9% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 311 |
| Number of Tables | 710 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Material, Distribution Channel, End Use, Region |
| Country scope |
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| Companies Included | Drive DeVilbiss Healthcare (Medical Depot, Inc.), Compass Health Brands Corporation (Carex Health Brands), Nova Medical Products, Alex Orthopedic, Inc., Treasure Gurus, LLC, Harvy Surgical Supply Corporation, Royal Canes, Safex Inc., HealthSmart International (Briggs Healthcare Corporation), HurryWorks LLC |
By End Use (Volume, Thousand units, USD Billion, 2020-2031)
By Material (Volume, Thousand units, USD Billion, 2020-2031)
By Distribution Channel (Volume, Thousand units, USD Billion, 2020-2031)
By Geography (Volume, Thousand units, USD Billion, 2020-2031)
This Market size is expected to reach $2.2 billion by 2031.
Rising prevalence of chronic conditions are driving the Market in coming years, however, Limited accessibility and distribution channels restraints the growth of the Market.
Drive DeVilbiss Healthcare (Medical Depot, Inc.), Compass Health Brands Corporation (Carex Health Brands), Nova Medical Products, Alex Orthopedic, Inc., Treasure Gurus, LLC, Harvy Surgical Supply Corporation, Royal Canes, Safex Inc., HealthSmart International (Briggs Healthcare Corporation), HurryWorks LLC
In the year 2023, the market attained a volume of 48,975.9 thousand units, experiencing a growth of 11.9% (2020-2023).
The North America region dominated the Global Walking Canes Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $751.9 million by 2031.
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