Medical Crutches Market To Generate $1,358.8 Million Revenue by 2030
- Published: October 2023
Growing at a CAGR of 5.8% between 2024 and 2030, the medical crutches market value is expected to reach USD 1,358.8 million by 2030. This can be ascribed to the rising number of sports injuries and the affordability and easy accessibility of medical crutches. Moreover, medical crutches are frequently and most commonly used assistive devices and are also included in the WHO’s assistive device list.
Chances of falls significantly rise during old age and falls can prove to be lethal at such an age. Hence, medical crutches are devised to prevent such situations by providing significant support and safety to old and handicapped individuals. Additionally, these devices not only help in making one feel independent but also increase their confidence by providing them the independence to carry out day-to-day tasks themselves. Furthermore, in order to meet the growing demand for crutches, significant product enhancement has been seen. Firms are taking the initiative toward the advancement of these devices.
Over the years, there has been significant growth in sports activity. Many young athletes are now focusing on excelling in single sports in order to achieve specialization in the same. According to research studies, it has been determined that specialization in single sports can lead to a significant number of injuries, which, in turn, boosts the demand for medical crutches.
Moreover, the easy availability of these walking aids through online platforms is a major factor driving the growth of the market. Buying goods from online platforms is becoming increasingly mainstream. Also, the rising number of medical retail shops and the availability of such equipment at affordable rates in such shops have significantly surged their demand.
Furthermore, the market expansion can also be attributed to the significant increase in product launches, collaborations, acquisitions, and schemes. For instance, a U.S.-based healthcare service firm Cardinal Health, in July 2021, launched technologically advanced solutions that are NavixRx compliance packaging and e-commerce storefront to help autonomous dispensaries, meet continuously changing customer demand, and provide customized and appropriate on-demand services.
Adults Category Dominates the End User Segment
Based on the end user segment, the adults category accounted for the largest revenue share, of 55%, in 2023 in the market. This is because the majority of individuals belonging to this category suffer from long-term and short-term disability, accidents, and amputations. Moreover, a large number of people belonging to this age group undergo a maximum number of surgical procedures.
Whereas, the children category is projected to witness a high growth rate during the forecast period. This can be because a large number of children are suffering from some sort of disability. In addition, the World Health Organization has claimed that a prominent cause of mortality among children is road accidents, which are increasing rapidly across the world.
Asia-Pacific Market To Witness the Highest CAGR
Globally, the APAC market is expected to display the fastest growth during the projection period. This can be due to the increasing expenditure on healthcare facilities, the surging government initiatives to improve patient care quality, the growing geriatric population, and the rising prevalence of long-term diseases in the region.
Moreover, the significant presence of the elderly population base in the growing population of the region is a key factor contributing to the rise in the number of people suffering from disability and the prevalence of chronic illnesses. Additionally, the region is witnessing an increasing number of accidents. For instance, in 2020, Japan witnessed 499,232 road accidents. Thus, these factors are propelling the demand for medical crutches in APAC.
Some of the key players in the market are Breg Inc., Cardinal Health, Homepro Medical Supplies, LLC, iWALKFree Inc., Millennial Medical, Nova Ortho Medical Inc, Sunrise Medical (US) LLC, and GPC Medical Ltd.