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Walking Aid Market to Boom: $5.2 Billion Industry by 2034 as Disabilities and Aging Population Rise | Future Market Insights, Inc.

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FMI study projects the walking aid market to grow at a 5.2% CAGR by 2034, driven by key trends, including technological advancements, the aging population, rising disability, and arthritis prevalence. This comprehensive report offers valuable insights and opportunities for stakeholders seeking to capitalize on the market’s burgeoning potential.

NEWARK, Del., Dec. 12, 2023 /PRNewswire/ — As per the latest analysis, the global walking aid market value is anticipated to total US$ 3.0 billion in 2024. Over the assessment period, walking aid sales are projected to expand with a CAGR of 5.7%, taking the overall valuation to US$ 5.2 billion by 2034.


Request Exclusive Sample Report: Walking Aid Market Strategic Insights: https://www.futuremarketinsights.com/reports/sample/rep-gb-18649

Multiple factors are expected to stimulate the growth of the walking aid market during the assessment period. These include the rising prevalence of disabilities, increasing cases of arthritis, a growing geriatric population, and favorable government initiatives.

The demand for walking aids is growing steadily due to the rising number of disabilities. People with disabilities benefit from walking aids, allowing them to walk safely and independently. These devices can significantly improve the quality of life of patients with disabilities and arthritis.

The rising geriatric population is acting as a catalyst triggering sales of walking aids. Older people are more prone to falls due to limb and bone weakness. The canes or walkers provide support and can be reliable for use.

An increasing number of patients undergoing surgeries also fuel the demand for walking aids. The effect of surgeries creates weakness. As a result, some patients are advised to use walking aids till they completely recover.

There is also a dramatic rise in the number of patients having arthritis or another prominent form of arthritis like osteoarthritis or rheumatoid arthritis. These medical conditions often cause joint pain, creating the need for walking aids.

Advancements in walking aids are making them more feasible than earlier. Integration of automation and sensors in these devices is making them attractive and fueling their demand, especially across developed regions.

Leading producers are putting their efforts into making new devices that are more effective and using new technology that can make walking aids useful in the long run. They are fusing different technologies to improve their current offerings.

For instance:

In May 2022, Sunrise Medical introduced the ZIPPIE Mini power wheelchair. The compact power wheelchair base has pediatric power seating. It gives kids the freedom to explore a range of environments in safety independently.

“The increasing geriatric population, rising disabilities, increasing cases of arthritis, and rising government initiatives are anticipated to boost the walking aid market during the forecast period,” according to Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).

Key Takeaways from the Market Study-

  • The global market for walking aids is projected to total a valuation of US$ 5.2 billion in 2034.
  • Based on product, the rollators segment accounted for 47.1% of the market share in 2023.
  • By technology, the manual segment is expected to surge at a 6.0% CAGR through 2034.
  • By end user, the hospitals segment accounted for a dominant market share of 37.8% in 2023.
  • North America held a prominent share of 32.8% in 2023.
  • Sales in the United States are projected to soar at a 6.4% CAGR from 2024 to 2034.
  • The United Kingdom is poised to exhibit a CAGR of 7.1% CAGR through 2034.
  • Demand in China is predicted to increase at a 5.2% CAGR between 2024 and 2034.

Understand global, regional, and country-level parameters with growth opportunities, historical data (2019-2023), and forecasts (2024-2034). Buy this report today!

Market Competition

Invacare Corporation, Medline Industries, Levo AG, GF Health Products, Inc., OttoBock Healthcare GmbH, Sunrise Medical LLC, Meyra GmbH, Besco Medical, Hill-Rom, and Cardinal Health are key walking aid manufacturers listed in the report.

These key players are introducing innovative products for great usage. Also, they are doing strategic planning like mergers and acquisitions to expand their global footprint. For instance,

  • In April 2022, GF Health Care launched the Everest & Jennings® PureTilt Tilt-in-Space Wheelchair. The product offers secure and autonomous transitions that promote a patient’s utmost comfort by tilting manually or by control.

Get More Insights

Future Market Insights (FMI) offers a unique perspective and actionable insights on the walking aid market in its latest study, presenting a historical demand assessment of 2019 to 2023 and projections for 2024 to 2034. The report is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on products–(rollators, walkers & gait trainers, canes and crutches), technology (automated and manual), and end-users (hospitals, ambulatory surgical centers, rehabilitation centers, and home care settings) across seven key regions of the world.

Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.

About Healthcare Division at Future Market Insights (FMI)

Future Market Insights (FMI) facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here

About the Author:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

Explore FMI’s Extensive Coverage in the Healthcare Domain:

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI’s latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.

Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact Us
Nandini Singh Sawlani   
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
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Sinotruk leaping forward to become world-class technology enterprise

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JINAN, China, March 2, 2024 /PRNewswire/ — On March 2, SinoTruk’s Science and Technology Innovation Award Annual Conference 2024 was grandly held, to recognize and rewarding major scientific and technological achievements and outstanding innovative talents since 2022, planning and deploying scientific and technological innovation work ahead. Tan Xuguang, Chairman and General Manager of Shandong Heavy Industry Group, Chairman of China National Heavy Duty Truck Group, attended the conference and delivered a report on scientific and technological innovative work – “Steadily stride forward, embracing change in science and technology”.

 

Over the past five years, Sinotruk has invested nearly RMB 15 billion in R&D, which is the sum of the previous 15 years. It has benchmarked against world-class standards and gradually established a full-process independent research and development system. Sinotruk technological strength has reached the forefront of the national industry. Sinotruk has reshaped the “Yellow River” heavy-duty trucks standard with technology, ranking first in China, and its high-tech indicators are leading the industry. The market share of heavy-duty trucks has increased from 16.5% in 2018 to 26% in 2023, ranking first in China for two consecutive years. In 2023, the export volume exceeded 130,000 vehicles for the very first time, a 2.6-fold increase compared to 5 years ago, making it the largest single-brand global export volume in the world.

Tan Xuguang called on all engineers to keep in mind their mission, be down-to-earth, persistent in innovation, and make long-term achievements through dedicated ten years of hard work. Learn from the global cooperation, grow and become talents through project training, and achieve through continuous value creation. Achieve your meaning in life, strive with vitality and passion while you are young. Let’s set off again for a better future for the century heavy truck industry and the world’s best heavy truck industry!

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Flash News: OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

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SINGAPORE, March 2, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for March 2, 2024.

OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

OKX today announced the launch of its ‘Babylon Pioneer Pass Event,’ giving users who access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC) the opportunity to claim Babylon’s Bitcoin Pioneer Pass NFT. To qualify for a spot, users must access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC).

The event kicks off on February 28 and continues until March 6. Following the event, starting from March 7, participants who have been whitelisted will have the ability to mint their Bitcoin Pioneer Pass NFT using the OKX Wallet and their whitelisted address.

The process of participating in this event is straightforward and involves the following steps:

  1. Firstly, users will need to prepare by setting up their OKX and Keplr Wallets. These wallets will be crucial for interacting with the Babylon Testnet and the subsequent claiming of sBTC and BBN.
  2. Following the wallet setup, users can then claim the sBTC and BBN on Babylon’s Official Discord. These tokens will be needed for staking in the Babylon Testnet.
  3. Finally, users will need to access Babylon’s official website, where users can actively engage, stake their tokens and claim their whitelist spots.

Participation in the event offers a multitude of benefits. Users can engage actively with the Babylon Testnet, which in turn enhances their understanding of the Babylon protocol and its functionalities. Furthermore, participants contribute to the development and evolution of the Babylon protocol by being active users.

The ‘Babylon Pioneer Pass Event‘ is a result of OKX’s partnership with Babylon, a trustless Bitcoin staking protocol. The Bitcoin Pioneer Pass, Babylon’s first commemorative Non-Fungible Token (NFT), is a highlight of this event, representing a significant milestone for both OKX and Babylon.

For more information, please visit the OKX Support Center.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
  • DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
  • NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
  • Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit: okx.com

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UnionPay International and The Tourism Organisation of Serbia Sign MOU to Enhance Tourist Payments and Promote Serbia as a Premier Destination

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BELGRADE, Serbia, March 1, 2024 /PRNewswire/ — UnionPay International, the leading global card scheme, has entering into a Memorandum of Understanding (MOU) with The Tourism Organisation of Serbia (TOS). This strategic partnership aims to enhancing the payment experience for tourists and to further facilitate tourism growth in Serbia.

The MOU signing ceremony took place at Belgrade on 27th February 2024, marking the beginning of a collaborative effort between UnionPay International and TOS. The agreement outlines various areas of cooperation:

Jointly promoting Serbia as Travel Destination: Through optimised marketing resources, both parties aim to promote Serbia as tourist destination among UnionPay cardholders, with its rich cultural heritage and unique experiences, provide comprehensive tourism information and payment guides for the tourists visiting Serbia. UnionPay International aims to provide more diversified and convenient payment choices, and ensuring seamless payment experiences for travellers visiting the country.

Privileges and Benefits: The partnership will explore opportunities for preferential activities that bring additional benefits to UnionPay cardholders visiting Serbia. This approach aims to boost the attractiveness of the local tourism market and create a win-win situation for both parties.

Ms Bomee Sheng, Product Director of UnionPay International, expressed her enthusiasm about the collaboration, stating, “We are delighted to partner with The Tourism Organisation of Serbia to promote tourism and facilitate payment experiences in Serbia. Through this partnership, we aim to provide UnionPay cardholders with enhanced convenience and benefits, ultimately contributing to the growth of Serbia’s tourism industry.”

Ms Marija Labović, CEO of National Tourism Organisation of Serbia, commented, “This partnership with UnionPay International comes at an important time as we strive to become the most popular all year destination in the region.” She outlines Belgrade’s popularity and the diversity of attractions from city breaks to natural retreats and she is looking forward to the Expo 2027 in the capital, “By leveraging UnionPay’s global network and advanced payment solutions, we are confident that we can attract more visitors to Serbia and provide them with memorable experiences.”

In recent years, Serbia has emerged as one of the most attractive destinations for Chinese visitors. It is hailed as the “heart of the Balkans” and offers a unique blend of captivating landscapes and rich cultural heritage. Its visa-free entry policy, coupled with the exceptional acceptance coverage of UnionPay cards, has played a significant role in attracting Chinese tourists. With over 90% of local merchants and ATMs supporting UnionPay payments and withdrawals, travellers can enjoy seamless payment experiences across various sectors, including retail, dining, hotels, gas stations, toll stations, and tourist attractions.

About The Tourism Organisation of Serbia (TOS)

The Tourism Organisation of Serbia (TOS) was formed under the Law on Tourism of 1994 as the institution in charge of promoting Serbian tourism in domestic and foreign markets, as well as performing other duties relevant for the development of communication and advertising activities in Serbian tourism. The activities of TOS are focused on positioning Serbia’s tourism products in domestic and foreign markets and exploring Serbia’s comparative advantages in terms of tourism, including its geostrategic position and its historical, cultural and natural identity.

About UnionPay International

UnionPay International focuses on the international business of UnionPay, a global payment network that serves the world’s largest cardholder base. Collaborating with over 2,600 partners globally, UnionPay acceptance now reached to 183 countries and regions. Outside the Chinese Mainland, UnionPay is accepted at nearly 67 million merchants and 1.7 million ATMs.

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