Consistent surge in geriatric population, rising government support and technological advancements are expected to drive the growth of global disabled & elderly assistive technologies industry during the forecast period

Global Disabled & Elderly Assistive Technologies Market is expected to grow at a CAGR of 7.4% from 2021-2030, according to a new research report by Next Move Strategy Consulting.

Assistive technologies can also be defined as any item, piece of equipment, or product system that are used to increase, maintain, or improve functional capabilities of children, elderly people and people with physical disability. For seniors, assistive technology may be a walker to improve mobility or an amplification device that make sound easier to hear. Assistive technologies can offer these individuals more independence by making it easier for them to get around on their own, perform simple activities of daily living, and age in place.

According to the report, there has been a constant growth in &elderly assistive technologies market owing to the rising population of disabled & elderly people. Other factors such as government subsidies to support device accessibility and rising investment from major market players also boost this market growth. However, high price and low acceptance rate of some products might restrain the market growth. Furthermore, the growing trend of independent lifestyle and rising awareness for better health conditions are anticipated to provide lucrative of opportunities for market growth.

Basis of product type, disabled & elderly assistive technologies market is classified into mobility assistance aids (wheelchairs, mobility scooters, crutches & canes, patient mechanical lift handling, walkers &rollators, and others), assistive furniture (medical beds, riser reclining chairs, railings & bar, door openers, and others), bathroom safety & assistive products (commode chairs, shower chairs, ostomy products, and others), and communication aids (speech & writing therapy devices, hearing aids {canal hearing aids, receiver-in-the-ear (RITE) aids, cochlear implants, behind-the-ear (BTE) aids, bone anchored hearing aids (BAHA), and in-the-ear (ITE) aids}, and vision & reading aids {reading machines, video magnifiers, braille translators, and others}). Medical ambulatory and mobility aids devices segment dominates the market and will be dominant during the forecast period due to rising incidences of limb immobility.

Based on end user, the market is categorized into hospitals, elderly nursing homes, homecare, and others. Hospital segment dominates the market and will be dominant during the forecast period.

North America holds the highest market size & share in the disabled & elderly assistive technologies market during the forecast period, because of its rising disposable income, technological advancements and provision of reimbursements by the government. Moreover, the market of Asia – Pacific is also expected to sustain due to increase in elderly population and government support to raise awareness regarding application of assistive devices.

According to the report, some the key players in the global disabled & elderly assistive technologies market are Ai Squared, Siemens Ltd., Invacare Corporation, Widex Ltd., Sunrise Medical LLC., Sonova Holding AG, GN ReSound Group, Starkey Hearing Technologies, William Demant Holding A/S, Drive Medical Design and Manufacturing, and others.

Browse key industry insights from the report, “Disabled & Elderly Assistive Technologies Market by Product [Mobility Assistance Aids, Assistive Furniture, Bathroom Safety & Assistive Products, and Communication Aids (Speech & Writing Therapy Devices, Hearing Aids, and Vision & Reading Aids)], and End User [Hospitals, Elderly Nursing Home, and Homecare]- Global Opportunity Analysis and Industry Forecast, 2020-2030” in detail along with the table of contents:

Key Insights from the Disabled & Elderly Assistive Technologies Market Report:

• North America is the most dominant in global disabled & elderly assistive technologies market owing to accelerated financing to construct climate-resilient infrastructure.
• Medical ambulatory and mobility aids devices segment dominates the market growth in terms of industry vertical and is expected to grow at a significant CAGR to maintain the lead till 2030.
• Some of the major players in the market are Ai Squared, Siemens Ltd., Invacare Corporation, Widex Ltd., Sunrise Medical LLC., Sonova Holding AG, GN ReSound Group, Starkey Hearing Technologies, William Demant Holding A/S, Drive Medical Design and Manufacturing, and others.
• The report global disabled & elderly assistive technologies market– Segmented by product, end user, and geography.

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