Medical Crutches Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Product (Underarm Crutch, Forearm Crutch, Tetrapod Crutch, Leg Support Crutch, Platform Crutch, and Others; Material (Wood, Metal Alloys, Carbon or Glass Fiber Reinforced Composites, Thermoplastic, and Carbon Fiber Reinforced Polymer); Region (North America, Europe, Asia-Pacific, Rest of the World); and Region/Country
The global medical crutches market is expected to grow at a significant rate of around 7% during the forecast period. Crutches are medical devices designed to aid in ambulation, by transferring body weight from the legs to the torso and arms. The rising prevalence of orthopedic diseases and the increasing number of surgeries are among the main reasons for the market growth of medical crutches. For instance, as per the WHO, approximately 1.71 billion people have musculoskeletal conditions worldwide. Musculoskeletal conditions are the leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries.
Sunrise Medical, Nova Medical Products, Millennial Medical, Valley Tool & Die Inc., IWALKFree Inc., Cardinal Health, Home Medical Products Inc., New York Millennium Pharmaceutical Co. Ltd., AMG Medical, and Breg Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, underarm crutch category to witness higher CAGR during the forecast period”
Based on the product, the market has been categorized into an underarm crutch, forearm crutch, tetrapod crutch, leg support crutch, platform crutch, and others. The underarm crutch category is to witness a higher CAGR during the forecast period. This is mainly due to the rising incidences of long-term disabilities coupled with the rising geriatric population are important factors for the segmental growth of the medical crutches. For instance, as per CDC, 10.9% of adults aged 45 years and older reported having coronary heart disease (CHD) and 7.1% of adults aged 45 to 64 years reported having CHD compared with 17.0% of adults aged 65 years and older.
“Amongst material, the carbon or glass fiber reinforced to hold a significant share in the market in 2020”
Based on the material, the market has been categorized into wood, metal alloys, carbon or glass fiber reinforced composites, thermoplastic, and carbon fiber reinforced polymer. Among them, the carbon or glass fiber reinforced segment is expected to have significant growth in the market. The properties like higher flexibility, corrosion resistance, lightweight, and higher tensile strength are the important factor for the increasing adoption of carbon or glass fiber in the medical crutches market.
“APAC to hold a significant share in the market”
For a better understanding of the market adoption of the medical crutches industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. In 2020, APAC held a significant share of the global medical crutches market. This is mainly attributed to the presence of a large population of people with disabilities and the increasing healthcare investments in the region. For instance, Overall, 2.21% of the Indian population has one or the other kind of disability. This means 2.68 crores (26.8 million) people in India are disabled.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
The global medical crutches market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
You can also purchase parts of this report. Do you want to check out a section wise
|Research Process of the Medical Crutches Market
|Research Methodology of the Medical Crutches Market
|IMPACT OF COVID-19 ON THE MEDICAL CRUTCHES MARKET
|INTERFERONS MARKET REVENUE (USD BN), 2020-2028F
|Leg Support Crutch
|Carbon or Glass Fiber Reinforced Composites
|Carbon Fiber Reinforced Polymer
|Rest of North America
|Rest of Europe
|Rest of Asia-Pacific
|Rest of World
|INTERFERONS MARKET OPPORTUNITIES
|INTERFERONS MARKET TRENDS
|Demand Side Analysis
|Supply Side Analysis
|VALUE CHAIN ANALYSIS
|Porters Fiver Forces Analysis
|Nova Medical Products
|Valley Tool & Die Inc.
|Home Medical Products Inc.
|New York Millennium Pharmaceutical Co. Ltd.
Research Methodology for the Medical Crutches Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global medical crutches market were the three major steps undertaken to create and analyze the adoption of medical crutches in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global medical crutches market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Medical Crutches market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the medical crutches market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product and material. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the medical crutches market. Further, we conducted factor analysis using dependent and independent variables such as the product and material of medical crutches. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the medical crutches market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global medical crutches market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the medical crutches market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global medical crutches market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global medical crutches market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product and material in the global medical crutches market.
The main objective of the Global Medical Crutches Market Study
The current & future market trends of the global medical crutches market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the medical crutches market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product and material.
- Define and analysis of the regulatory framework for the medical crutches industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the medical crutches market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the medical crutches market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry