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The global medical crutches market size was valued at USD 727.4 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.5%.
NEW YORK CITY, NEW YORK, UNITED STATES, March 19, 2023 /einpresswire.com / -- Market Overview:
The global medical crutches market size was valued at USD 727.4 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.5%. Medical crutches serve as aids for those who have difficulty walking due to injuries or disabilities and can be seen in hospitals, clinics, and home healthcare settings.
Key Takeaways:
The global medical crutches market is being driven by factors such as an increasing prevalence of chronic diseases, an aging geriatric population, and an increase in accidents and injuries.
Underarm crutches dominate the medical device market due to their growing acceptance in hospitals and clinics.
North America holds a dominant share due to its advanced healthcare infrastructure and growing government initiatives that promote product development.
Drivers:
The rising prevalence of chronic diseases like arthritis and multiple sclerosis is driving demand for medical crutches.
Furthermore, an aging geriatric population is another major factor driving this demand, as seniors are more prone to mobility impairments.
The rising incidence of accidents and injuries is further driving market expansion.
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Key Market Segments
Type
Classification1: Underarm Crutches, Forearm Crutches, Tetrapod crutches
Classification2: Stainless steel
aluminum
Classification3: For children
For adults
Application
Hospital
Home Health
Key Market Players
Sunrise Medical
NOVA Medical Products
Valley Tool & Die Inc
IWALKFree
Cardinal Health
Home Medical Products Inc
New York Millennium Pharmaceutical Co.Ltd.
AMG Medical
BREG
Millennial Medical
Restraints:
Lack of awareness about the availability and benefits of medical crutches in developing regions is a major restraint.
The high cost of advanced medical crutches is also hindering the growth of the market.
The availability of alternative mobility aids, such as walkers and wheelchairs, is also a challenge for the market.
The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share:
Opportunities:
Increasing investments in research and development activities to develop advanced medical crutches with enhanced features and functionalities.
Growing demand for medical crutches in emerging economies, such as China and India.
The rising adoption of telemedicine and home healthcare services is expected to boost the demand for medical crutches in the home healthcare segment.
Challenges:
Stringent regulations and quality standards set by regulatory authorities, such as FDA and CE, are a major challenge for the market.
Intense competition among market players is leading to price wars and reduced profit margins.
Limited reimbursement policies for medical crutches in some countries are also a challenge.
Recent Developments:
In January 2021, Ottobock, a global provider of prosthetic and orthotic devices, launched a new line of crutches with a sleek and ergonomic design.
In May 2021, Invacare Corporation, a global provider of home and long-term care medical equipment, launched a new line of underarm crutches with enhanced adjustability and comfort.
In August 2021, Sunrise Medical, a global provider of mobility devices, acquired RGK Wheelchairs, a UK-based manufacturer of manual wheelchairs and mobility aids.
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