Disabled and Elderly Assistive Technologies Market

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Disabled and 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, 2022-2030

Industry: Healthcare | Publish Date: 30-Nov-2024 | No of Pages: 546 | No. of Tables: 319 | No. of Figures: 279 | Format: PDF | Report Code : HC354

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Market Definition

The global Disabled & Elderly Assistive Technologies Market size is estimated to be USD 26.54 billion in 2021 and is predicted to reach USD 49.48 billion by 2030 with a CAGR of 7.4% from 2022-2030.

Disabled & elderly assistive technology includes devices that are used to maintain or improve an individual's functioning and enhance their overall well-being. Such devices are useful in case of any impairments and secondary health conditions. These include walkers that improve mobility, amplification devices that make sound easier to hear and many others. Assistive technologies help the disabled & elderly be more independent by making it easier for them to get around and perform simple activities of daily living on their own.

Market Dynamics and Trends

Disabled & elderly assistive technologies market is immensely driven by rising disabled & elderly population around the world. According to United Nations, the global population aged 80 years or over is projected to triple between 2017 and 2050, increasing from 137 million to 425 million, which will primarily drive the market growth. Provision of government subsidies to support device accessibility and rising investments from private bodies further drives the global market growth. For instance, in September 2020, WHO developed a Priority Assistive Products List (APL) to assist member states in planning policies and programs related to the provision of assistive devices.

However, high product pricing and low acceptance rate for few products might hamper the market growth. Furthermore, the rising trend of independent lifestyle and rising awareness for better health conditions are anticipated to provide ample of opportunities for disabled & elderly assistive technologies market growth.

Market Segmentations and Scope of the Study

The global disabled &elderly assistive technologies market share has been analyzed based on product, end user and geography.

On 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}). Based on end user, the market is categorized into hospitals, elderly nursing homes, homecare, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America represents higher adoption of disabled & elderly assistive technologies because of its rising disposable income and provision of reimbursement by the government to encourage purchases.

The market of Asia-Pacific is also estimated to show sustained growth due to the rising government support and upsurge in geriatric population. Also, improving healthcare infrastructure and rising awareness regarding application & availability of assistive devices will further boost the market growth.

Competitive Landscape

The global disabled & elderly assistive technologies industry is highly competitive and consists of numerous market players. Some of the major market players are Drive Medical, Drive Medical Design and Manufacturing, GN ReSound Group, Invacare Corporation, Sunrise Medical LLC., Sonova Holding AG, Starkey Hearing Technologies, AI Squared , WS Audiology, Pride Mobility Products Corporation.

There have been various developments taking place in the market that further enhance the growth of disabled & elderly assistive technologies market on a large scale.

For instance, In March 2019, Sunrise Medical LLC launched of Education in Motion (EIM), a go-to online resource for clinicians, assistive technology professionals (ATPs), and others involved in the profession of seating and wheeled mobility equipment. Also, in October 2020, Permobil AB launched ROHO Hybrid Select cushion. This device is an amalgamation of foam and air technology with optional offloading to benefit wheelchair users.

Key Benefits

  • The disabled & elderly assistive technologies market report provides quantitative market analysis and estimations through 2022-2030 that assists to determine the predominant market opportunities to exploit.

  • The study comprises a deep drive analysis of the global market trends including current and upcoming trends for interpreting the prevalent investment pockets in the market.

  • The report gives detailed information related to key drivers, restraints, opportunities and their impact on the market.

  • The report includes a competitive analysis of the market players along with their market share in the global market.

  • The study elaborates SWOT analysis and Porters Five Force model for the market.

  • Value chain analysis in the market study delivers a clear picture of the investor roles in the global disabled & elderly assistive technologies market.

Disabled & Elderly Assistive Technologies Market Key Segments                                                

By Product

  • Mobility Assistance Aids

  • Wheelchairs

  • Mobility Scooters

  • Crutches & Canes

  • Patient Mechanical Lift Handling

  • Walkers & Rollators

  • Others

By Assistive Furniture

  • Medical Beds

  • Riser Reclining Chairs

  • Railings & Bar

  • Door Openers

  • Others

By Bathroom Safety & Assistive Products

  • Commodes Chairs

  • Shower Chairs

  • Ostomy Products

  • Others

By 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)

  • In-the-Ear (ITE) Aids

  • Vision & Reading Aids

  • Reading Machines

  • Video Magnifiers

  • Braille Translators

  • Others

By End user

  • Hospitals

  • Elderly Nursing Home

  • Homecare

  • Others

By Region

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Spain

    • Italy

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Rest of APAC

  • Rest of the World

    • Brazil

    • South Africa

    • Saudi Arabia

    • Remaining Countries

Key Players:

  • Drive Medical

  • Drive Medical Design and Manufacturing

  • GN ReSound Group

  • Invacare Corporation

  • Sunrise Medical LLC.

  • Sonova Holding AG

  • Starkey Hearing Technologies

  • AI Squared

  • WS Audiology

  • Pride Mobility Products Corporation

Report Scope and Segmentation

Parameters

Details

Analysis Period

2021–2030

Base Year Considered

2022

Forecast Period

2022–2030

Market Size Estimation

Billion (USD)

Market Segmentation

By Product (Mobility Assistive Aids, Assistive Furniture, Bathroom Safety and Assistive Products, Communication Aids) By End User (Hospitals, Elderly Nursing Homes, Home Care, Other End-Users)

Geographical Segmentation

North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Italy, Rest of Europe), Asia-Pacific (China, Japan, Australia, India, Rest of APAC), Rest of the World (Brazil, Argentina, Turkey, South Africa, Remaining Countries)

Companies Profiled

Drive Medical, Drive Medical Design and Manufacturing, GN ReSound Group, Invacare Corporation, Sunrise Medical LLC., Sonova Holding AG, Starkey Hearing Technologies, AI Squared , WS Audiology, Pride Mobility Products Corporation

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Frequently Asked Questions

According to the report published by Next Move Strategy Consulting, the Disabled and Elderly Assistive Technologies market business is expected to hit at $49.48 billion (USD) by 2030.

North America is expected to hold the highest market share in the global market. The region is expected to witness remarkable growth as it houses the major key players in the market.

Ai Squared, Siemens Ltd., Invacare Corporation, Widex Ltd., Sunrise Medical LLC., Sonova Holding AG, GN ReSound Group, Starkey Hearing Technologies

The global Disabled and Elderly Assistive Technologies market share analysis is based on type, application and geography.

Currently (in 2020), the market value stands at USD 25.47 billion and it is anticipated to reach USD 49.48 billion by 2030.

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