China Disabled and Elderly Assistive Device Market by Type (Mobility Impairments, Hearing Impairments, Visual Impairments, Cognitive Impairments, and Self-Care), 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: 02-Oct-2024 | No of Pages: 119 | No. of Tables: 87 | No. of Figures: 52 | Format: PDF | Report Code : HC1079
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China Disabled & Elderly Assistive Device Market Overview
The China Disabled & Elderly Assistive Device Market size was valued at USD 1.67 billion in 2023, and is predicted to reach USD 5.12 billion by 2030, at a CAGR of 16.3% from 2024 to 2030.
The disabled & elderly assistive device market refers to a wide range of products and services designed to support the aging population and individuals with disabilities in maintaining their autonomy and improving their quality of life. This market covers medical furniture, hearing aids, mobility aids and living aids, that are crucial for managing chronic conditions and ensuring safety.
Innovations in these areas are driven by the need to address the growing challenges of an aging population and the diverse requirements of individuals with disabilities, making this market integral to enhancing accessibility and wellbeing. This market is fueled by growing rate of disabled individuals, 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.
The Robust Healthcare Expenditure Fuels the China Disabled & Elderly Assistive Device Assistive Device Market Demand
China's substantial healthcare investment is a major catalyst for the growing demand for assistive devices. By allocating a significant portion of its GDP to enhance healthcare services and infrastructure, China greatly expanded the availability and adoption of advanced medical devices.
According to the World Bank Group report 2024, the share of healthcare expenditure of GDP in China stood at 5.4% in 2021. Moreover, China’s healthcare expenditure per capita stood at USD 670.5 in 2021. This strong financial backing ensures that a wide array of assistive devices, from mobility aids to cutting-edge medical equipment, are accessible to meet the needs of the country's aging and disabled populations. This commitment to improving healthcare quality and accessibility is a key factor driving the rapid growth of the disabled & elderly assistive device market in China.
Increasing Aging Population Drives the China Disabled & Elderly Assistive Device Market Growth
China's rising aging population significantly drives the demand for assistive devices. As people age, there is an expanding need for devices and devices that address age-related health issues and enhance daily living. This demographic shift highlights the importance of advanced solutions such as mobility aids, home healthcare systems, and sensory enhancement devices.
The World Bank Group report 2024 stated that China’s population aged 65 and more stood at 14.0% of the overall population. The growing elderly population in China underscores the urgency for innovative assistive products that support independence and improve the quality of life, driving substantial growth in the China disabled & elderly assistive device market trends.
The Regulatory Challenges Hinders the Growth of the China Disabled & Elderly Assistive Device Market
The disabled & elderly assistive device market faces significant regulatory challenges that restrain growth and innovation. Regulatory bodies such as the National Medical Products Administration (NMPA), and other national agencies impose stringent approval processes, requiring assistive products, especially medical devices, to undergo extensive testing and certification before entering the market. This ensures safety and efficacy but delays product launches and elevate costs significantly. These factors collectively pose substantial barriers, limiting the availability of assistive devices in the market.
The Integration of AI Into Assistive Device is Expected to Create Ample Growth Opportunity for the Market
The integration of assistive technology such as artificial intelligence (AI) and advanced sensors into disabled & elderly assistive devices represents a transformative leap towards a future where these devices are not only more advanced but also more personalized and accessible than ever before. AI enables assistive devices to evolve beyond static solutions, becoming dynamic and adaptable to the specific needs of each user.
Through machine learning algorithms, these devices learn from user interactions, continuously improving their functionality and responsiveness. Moreover, AI enables assistive devices to integrate seamlessly into daily life, offering real-time support that is finely tuned to users' unique circumstances, thereby significantly enhancing their independence, productivity, and overall quality of life.
Competitive Landscape
The promising players operating in the China disabled & elderly assistive device industry includes Stryker Corporation, Starkey Hearing Technologies, Baxter, Thuasne, Dragon Medical Co., Ltd, INTCO MEDICAL.COM, Sonova, Shenzhen Zuowei Technology Co., Ltd., Haloxylon Ammodendron Medical Equipment Co., Ltd, New Century Products Co., Ltd, and others.
China Disabled & Elderly Assistive Device Market Key Segments
By Type
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Mobility Impairments
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Wheelchairs
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Walkers and Rollators
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Canes and Walking Sticks
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Crutches
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Portable Ramps
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Others
-
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Hearing Impairments
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Hearing aids
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FM System
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Deafblind communicators for hearing
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Visual Impairments
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Screen readers
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Optical magnifiers
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Smart phones for vision
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Braille writing equipment
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Talking Devices
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Cognitive Impairments
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Self-Care
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Shower Chairs
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Grab-bars/handrails
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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
Key Players
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Stryker Corporation
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Starkey Hearing Technologies
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Baxter
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Thuasne
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Dragon Medical Co., Ltd
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INTCO MEDICAL.COM
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Sonova
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Shenzhen Zuowei Technology Co., Ltd.
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Haloxylon Ammodendron Medical Equipment Co., Ltd
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New Century Products Co., Ltd
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size Value in 2023 |
USD 1.67 billion |
|
Revenue Forecast in 2030 |
USD 5.12 billion |
|
Value Growth Rate |
CAGR of 16.3% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Companies Profiled |
10 |
|
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. |
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