India Disabled & Elderly Assistive Device Market by Type (Living Aids, Hearing Aids, Mobility Aids, Medical Furniture, and Bathroom Safety Equipment), and by End User (Hospitals, Elderly Nursing Homes, Home Care, and Other End Users) – Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Healthcare | Publish Date: 12-Dec-2023 | No of Pages: 133 | No. of Tables: 99 | No. of Figures: 64 | Format: PDF | Report Code : N/A
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Market Definition
India Disabled & Elderly Assistive Device Market size was valued at USD 613.65 million in 2023, and is predicted to reach USD 904.60 million by 2030, with a CAGR of 5.52% from 2024 to 2030. The disabled & elderly assistive device industry empowers individuals with disabilities and older adults to live more independent and fulfilling lives by designing and manufacturing specialized tools and systems. This industry encompasses a wide range of devices and software solutions tailored to address physical, sensory, cognitive, and developmental limitations.
Operating at the convergence of healthcare, technology, and accessibility, it gives rise to innovative solutions such as mobility aids, communication devices, and home automation systems. Fueled by an aging population, rapid technological advancements, and evolving regulatory landscapes, the assistive device industry prioritizes inclusivity and continuously adapts to meet the ever-changing needs of its diverse user base.
Rising Aging Population Demographics Creates Demand for Assistive Devices in India
Being the most populated country in the world, India stands as a crucial region for the disabled and elderly assistive device market growth. In India, the elderly population currently accounts for approximately 11% of the total, with projections indicating an increase to 20% by 2050.
Additionally, around 2.5% of the population faces disabilities. This demographic trend fuels a growing demand for assistive devices that cater to the unique needs of the elderly population. Mobility challenges, sensory impairments, and other health issues become more prevalent with age, creating a market niche for products such as walking aids, hearing aids, and mobility scooters.
Government Initiatives Driving the Growth of India's Assistive Device Industry
Government initiatives in India play a crucial role in propelling the growth of the disabled and elderly assistive device market. These initiatives encompass financial assistance programs, policy frameworks, and awareness campaigns. Financial aid, in the form of subsidies and grants, makes assistive devices more affordable, expanding their accessibility.
Moreover, inclusive infrastructure developments, supported by government initiatives, ensure that public spaces and services are accessible to all. Overall, these efforts stimulate market demand, reduce financial barriers, and foster innovation, contributing to an improved quality of life for the disabled and elderly in India.
High Cost and Affordability of Assistive Devices Hinders the Regional Market Growth
The high cost of assistive devices in India often puts them out of reach for many individuals, especially those in developing and underdeveloped countries who have low or fixed incomes. This lack of access creates a significant barrier for a large portion of the population, preventing them from benefiting from these life-changing tools. Moreover, a widespread lack of awareness about the availability and benefits of assistive technologies among individuals, caregivers, and even healthcare professionals contribute to their underutilization.
Integration of Cutting-Edge Technologies such as AI Creates Opportunity Growth for the Assistive Device Industry
In India, assistive technology is transforming, becoming more personalized, accessible, and productive than ever before. This is due in large part to advancements in artificial intelligence (AI) and machine learning (ML), which are enabling assistive devices to be tailored to individual needs and adapt to changing conditions. The Internet of Things (IoT) and smart home systems are also empowering users to control their environments more independently than before.
Wearable devices and sensors monitor health metrics in real-time, providing valuable insights for self-care and overall well-being. Robotics-powered mobility aids and exoskeletons are augmenting physical capabilities, while augmented reality (AR) and virtual reality (VR) technologies are revolutionizing training and rehabilitation programs. These groundbreaking innovations are reshaping the assistive technology industry, expanding the range and efficacy of solutions while making them more accessible to those who need them.
Competitive Landscape
Various market players operating in the India disabled & elderly assistive device market include Invacare Corporation, Sunrise Medical LLC, Bausch & Lomb, Inc., Permobil AB, Siemens Healthcare, Freedom Scientific, Inc., William Demant Holding A/S, Starkey Hearing Technologies, GN ReSound Group, Ai Squared, Blue Chip Medical Products, Inc., MED-EL, Liberator Ltd., Drive Medical Design and Manufacturing, Exact Dynamics B.V., and others.
India Disabled & Elderly Assistive Device Key Market Segments
By Type
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Living Aids
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Hearing Aids
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Behind-the-ear Aids (BTE)
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Receiver-in-the-Ear Aids (RITE)
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In-the-Ear Aids (ITE)
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Bone Anchored Hearing Aids (BAHA)
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Canal Hearing Aids
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Cochlear Implants
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Reading and Vision Aids
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Braille Translators
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Video Magnifiers
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Reading Machines
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Others
-
-
Mobility Aids
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Walkers & Rollators
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Canes & Walking Sticks
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Crutches
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Transfer Lifts or Patient Mechanical Lift Handling
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Door Openers
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Others
-
-
Medical Furniture
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Medical Beds
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Door Openers
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Medical Furniture Accessories
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Riser Reclining Chairs
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Others
-
-
Bathroom Safety Equipment
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Shower Chairs
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Commodes
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Ostomy Products
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Bars, Grips, & Rails
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By End User
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Hospitals
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Elderly Nursing Homes
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Home Care
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Other End Users
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 613.65 Million |
|
Revenue Forecast in 2030 |
USD 904.60 Million |
|
Growth Rate |
CAGR of 5.5% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
Rising aging population demographics worldwide demand assistive technology Growing government support for the aging population |
|
Companies Profiled |
15 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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Invacare Corporation
-
Sunrise Medical LLC
-
Bausch & Lomb, Inc.
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Permobil AB
-
Siemens Healthcare
-
Freedom Scientific, Inc.
-
William Demant Holding A/S
-
Starkey Hearing Technologies
-
GN ReSound Group
-
Ai Squared
-
Blue Chip Medical Products, Inc.
-
MED-EL
-
Liberator Ltd.
-
Drive Medical Design and Manufacturing
-
Exact Dynamics B.V.
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