Mexico 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: 11-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
Mexico Disabled & Elderly Assistive Device Market size was valued at USD 480.46 million in 2023, and is predicted to reach USD 649.10 million by 2030, with a CAGR of 4.3% from 2024 to 2030. The disabled & assistive device industry plays a crucial role in empowering individuals with disabilities and older adults to live more independent and fulfilling lives. By designing and manufacturing specialized tools and systems, this industry caters to a wide range of physical, sensory, cognitive, and developmental limitations.
Spanning a diverse spectrum of devices and software solutions, the assistive device industry operates at the intersection of healthcare, technology, and accessibility. This convergence has given rise to groundbreaking innovations such as mobility aids, communication devices, and home automation systems. Driven 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.
Government Support Towards the Adoption of Assistive Devices is Driving the Growth of the Industry
Government initiatives are pivotal in shaping the landscape of the disabled and elderly assistive device market in Mexico. These initiatives encompass a range of strategies, including providing subsidies and funding to make assistive devices more affordable, implementing regulations to ensure safety and quality standards, incorporating assistive devices into healthcare programs, conducting awareness campaigns to reduce stigma, and supporting research and development activities. By addressing financial barriers, ensuring safety compliance, and fostering innovation, these initiatives create an environment conducive to market growth.
Aging Demographics Further Fueling the Demand for the Assistive Device Industry
The shifting demographic landscape in Mexico, marked by a growing elderly population, is a key driver for the disabled and elderly assistive device market. As individuals age, they often encounter challenges in mobility and daily living activities. This demographic trend amplifies the demand for assistive devices specifically designed to enhance the quality of life for the elderly. Mobility aids such as walkers and wheelchairs, along with devices addressing sensory impairments and adaptive tools for daily tasks, become crucial for maintaining independence.
High Cost and Affordability of Assistive Devices Hinders the Regional Market Growth
The high cost of assistive devices in Mexico 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 Creates Significant Growth Opportunity for the Mexico Assistive Device Industry
In Mexico, assistive technology is transforming to become 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 are monitoring 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 Mexico 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.
Mexico 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
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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
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-
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 480.46 Million |
|
Revenue Forecast in 2030 |
USD 649.10 Million |
|
Growth Rate |
CAGR of 4.3% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
Government support towards the adoption of assistive devices is driving the growth of the industry Aging demographics further fueling the demand for the assistive device industry |
|
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
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Sunrise Medical LLC
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Bausch & Lomb, Inc.
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Permobil AB
-
Siemens Healthcare
-
Freedom Scientific, Inc.
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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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