Fragility fractures, caused by low-energy trauma, are a significant global health concern, with 158 million people aged 50 and over at risk. Hip fractures, a common issue in elderly patients, are often linked to underlying conditions such as osteoporosis. This study proposed a cost-effective solution using a non-wheeled smart walker with load sensors to measure gait parameters, addressing the high cost of traditional gait analysis equipment, the prototype used PASCO load cells PS2200 for force measurement, eliminating the need for Arduino UNO or microcontroller-based hardware. A lightweight amplifier PS2198 amplified the signal, which was transmitted via USB to a personal computer. PASCO capstone software was used for data recording and visualization. The smart walker was tested on forty volunteers divided into two equal groups: those with osteoporosis and those without, by performing a 10 m walk test three times. ANOVA comparing spatiotemporal parameters (TSPs) of the two participant groups (α = 0.05) showed that significant differences lay in terms of time taken to complete the walk test (p < 0.01), left step length (p = 0.03), walking speed (p = 0.02), and stride length (p < 0.02). The results indicate that this smart walker is a reliable tool for assessing gait patterns in individuals with osteoporosis. The proposed system can be an alternative for time consuming and costly methods such as motion capture, and for socially stigmatizing devices such as exoskeletons. It can also be used further to identify risk factors of osteoporosis.