The Global Gait Trainer Industry is on a trajectory of steady advancement, poised for gradual expansion with a projected Compound Annual Growth Rate (CAGR) of 4.9% over the designated period. These findings come from the latest industry analysis conducted by Future Market Insights, revealing a current market worth of US$342.7 million as of 2022. The market is anticipated to ascend to an estimated value of US$456.3 million by the conclusion of 2028.
In the year 2021, the exoskeleton market exhibited an impressive cumulative value of US$4.1 billion, with gait trainer sales contributing 8% to this remarkable figure. Particularly noteworthy is the increasing prominence of gait trainer walkers designed for individuals with cerebral palsy, which have gained significant traction in recent years. This surge is attributed to a notable increase in the incidence of cerebral palsy.
The gradual yet consistent growth of the Global Gait Trainer Industry, coupled with its pivotal role in addressing the needs of individuals with cerebral palsy, underscores its increasing importance in the broader context of the healthcare industry. As the market continues to evolve, it not only represents a lucrative avenue for industry stakeholders but also signifies a positive impact on the lives of those with mobility challenges.
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Research Methodology
FMI adopts a triangulation methodology to provide accurate and precise market estimations and insights for various medical devices and technologies. This approach primarily relies on patient-level data, the number of procedures, and the capital equipment installation base obtained through experimental techniques. The bottom-up approach is always used to obtain country-specific data and then analyze it to generate global data. This ensures the data’s high quality and accuracy.
In the initial stage, secondary research is conducted to determine the feasibility of the target products/technology categories, segments, product offerings, usage patterns, device lifespan, reimbursement scenarios, adoption rates, and future impact of new technologies. Each piece of information is meticulously analyzed to create a solid foundation for primary research.
Primary research involves the participation of demand-side users, including key opinion leaders, physicians, and surgeons, and supply-side providers of medical devices. These stakeholders provide valuable insights on trends, key treatment patterns, adoption rates, purchasing patterns, technological advancements, patient education, manufacturer effectiveness, pricing, and competitive dynamics. This information is further analyzed throughout the research project to ensure comprehensive and accurate market insights.
To project Year-on-Year (Y-o-Y) growth rates for the market, we conduct a quantitative and qualitative assessment of the fundamental factors driving demand, economic factors and cycles, and growth rates, as well as the strategies used by key players. These Y-o-Y growth projections are adjusted and aligned according to the industry/product lifecycle and utilized to develop holistic market numbers.
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Additionally, we analyze the annual reports, investor presentations, SEC filings, 10k reports, and press releases of various companies operating in this market segment to obtain detailed information on market size, trends, opportunities, drivers, restraints, key players, and their market shares. These key companies are classified into tiers based on their revenue, product portfolio, and market presence.
It’s important to note that these are only the initial steps in developing the market size. In addition to disease-related factors, we use our internal proprietary model for forecasting, which takes into account various macroeconomic factors such as per capita healthcare expenditure, disposable income, industry-based demand driving factors, and their impact on the market forecast trends.
Global Gait Trainer Industry Taxonomy
The Global Gait Trainer Industry has been segmented on the following basis:
End User
- Hospitals
- Rehabilitation Center
- Homecare Setting
Product Type
- Gait Trainer Walker
- Adult
- Pediatric
- Treadmill System
- Exoskeleton
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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 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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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