The global market for gait trainers is being progressively influenced by the growing competition and the expansion of the walking aids industry. The rising number of spinal injuries as well as strokes that impacts the ability of a patient to walk has been incessantly supporting the global gait trainer market to grow and has been expected to remain the same in the forthcoming years. In Europe and North America, manufacturers are strengthening their position as they are the key focus regions with the maximum potential for the players to take leverage from. For instance, key players such as Rifton Equipment, Ottobock Inc.., Ekso Bionics, Hocoma AG, and AlterG are expanding their commercial presence in international market.
The players in the market are increasingly focusing on raising their market penetration through exploration of the untapped markets. In order to increase its market penetration, the company is focusing on enhancement of its products by introducing new technologies and upgrading its existing products and also simultaneously focusing on strategic alliances for sale and promotion of its products globally. Manufacturers are basically focusing on upscaling the production of automated gait trainer.
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The proliferating acquisition activities and contractual agreements between manufacturers and local service providers are the factors promoting the growth of the global gait trainer market. Manufacturers of gait trainer devices and exoskeletons are focusing on government contracts and agreements with other medical device companies, in order to manufacture cost-effective products, especially for rehabilitation.
According to the report published by Future Market Insights (FMI), the global gait trainer market is expected to witness a CAGR of 4.9% from 2022 to 2028. In 2017, the market was worth US$ 271.5 Mn and is projected to rise to a valuation of US$ 456.3 Mn by the end of 2028.
Prominent Players:
Meyland Smith A/S
Biodex Medical Systems
medica Medizintechnik GmbH
ReWalk Robotics
Alter G Inc.
Rex Bionics Ltd.
Ekso Bionics
Hocoma AG
Otto Bock Inc.
Rifton Equipment
Medical Depot Inc. (Drive Medical)
Pricing Available upon Request
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Gait Trainer Market COVID-19 Crisis Impact
The COVID-19 pandemic of 2020 revolutionized the healthcare industry in a way that was never expected and generated a general sense of health awareness across the globe which was a trend that was shaping up over the past few years.
Focus on healthcare has grown exponentially especially in the COVID-19 pandemic and this is expected to propel the demand for healthcare services and products.
The pandemic affected the healthcare industry largely and in 2020 and created a surge of demand for many medical products. The pandemic adversely affected the gait trainer industry as the sales saw a drop due to disruptions to the manufacturing and supply aspects of the business.
Consumption of gait trainers is expected to gain impetus in the post-pandemic era as government initiatives increase awareness and promote adoption of gait training equipment.
Technological Advancements to Pave Way for Market Progression
In the last couple of years, various types of gait trainers to support ambulation practices have been developed, the treadmill and over ground systems are the ones gaining popularity. Advanced gait trainer systems are predominantly designed to minimize stress–strain shielding with adjustability in height, and increase the range of motion with high efficiency. As indicated by the expert analyst, New FDA-cleared EksoGT exoskeleton comes with a controller, inbuilt software coupled with smart assist pre-gait and freegait quick fit technology. Ekso pulse comes with a cloud-based technology, analytics, wireless transmission and cloud storage.
Competitive Pricing to Obstruct Growth Tract
The price elasticity of the gait trainer market has grown extensively owing to the significant role played by the government and managed care groups. HME dealers purchase gait trainer products based primarily on the price, so that they can be assured of being reimbursed. Thereby, manufacturers must fiercely compete on price in order to win large dealer contracts and purchases. The rising Asian imports of gait trainer are bound to send the prices to a certain low. With increasing number of participants, the prices will continue to decline.
Key Segments Covered in Gait Trainer Industry Survey
Gait Trainer Market by Product Type:
Gait Trainer Walkers
Adult
Pediatric
Exoskeletons
Treadmill Systems
Gait Trainer Market by End User:
Gait Trainers for Hospitals
Gait Trainers for Rehabilitation Centers
Gait Trainers for Home Care Settings
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Gait Trainer Market by Region:
North America Gait Trainer Market
Latin America Gait Trainer Market
Europe Gait Trainer Market
East Asia Gait Trainer Market
South Asia & Pacific Gait Trainer Market
Middle East & Africa (MEA) Gait Trainer Market