Disabled and Elderly Assistive Device Market by Type (Mobility Impairments, Hearing Impairments, Visual Impairments, Cognitive Impairments, and Self-Care), and End User (Hospitals, Elderly Nursing Homes, Home Care, and Other End Users) – Global Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Healthcare | Publish Date: 27-Nov-2024 | No of Pages: 294 | No. of Tables: 279 | No. of Figures: 246 | Format: PDF | Report Code : HC71
Disabled & Elderly Assistive Device Market Overview
The Global Disabled & Elderly Assistive Device Market size was valued at USD 28.02 billion in 2023 and is predicted to reach USD 70.05 billion by 2030, registering a CAGR of 12.9% from 2024 to 2030.
The disabled and elderly assistive device 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. Disabled & elderly assistive device industry 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 and expectations of its diverse user base.
Growing Aging Population Drives the Demand for Assistive Devices
The growing aging population is driving demand for disabled & elderly assistive devices such as mobility aids and vision enhancements, as increasing life expectancy and age-related conditions necessitate these devices to maintain autonomy and improve quality of life.
As per the World Health Organization (WHO), the global population aged 60+ reached 1.4 billion in 2020 and is projected to reach 2.1 billion by 2050, with the 80+ population tripling to 426 million. This demographic trend is creating demand for advanced assistive devices, particularly in countries with higher proportions of elderly residents, such as Monaco (36%), Japan (30%), Italy (24%), and several European nations (22-24%).
Rising Prevalence of Disabilities Drives the Assistive Device Market
The increasing prevalence of disabilities and elderly populations drives the demand for disabled & elderly assistive device. As the number of people affected by age-related conditions and disabilities rises, there is a growing need for innovative assistive devices that enhance mobility, sensory capabilities, and overall quality of life.
According to the World Health Organization (WHO), 1.3 billion people or 16% globally experience significant disability, highlighting the importance of advancements in assistive devices such as mobility aids, home care tech, and personalized medical devices. Governments and healthcare providers are working to improve accessibility and affordability of these essential tools to support the aging and disabled population.
High Cost and Regulatory Challenges Hinders Assistive Devices
The high cost of disabled & elderly assistive device creates significant barriers for people in developing and underdeveloped countries, particularly those with low or fixed incomes, preventing access to essential tools that improve quality of life. Factors including high import costs, inadequate government support, and lack of affordable financing options exacerbate this problem.
Regulatory challenges also restrain the growth and innovation of the disabled & elderly assistive device sector. Stringent approval processes by agencies such as the Food and Drug Administration (FDA), Therapeutic Goods Administration Australia (TGA), Central Drugs Standard Control Organisation India (CDSCO), European Medicines Agency (EMEA), State Food and Drug Administration China (SFDA), Ministry of Health, and Labour and Welfare of Japan (MHLW) ensure safety and efficacy but delay product launches and increase costs, collectively posing substantial barriers to market availability.
Integration of AI Into Assistive Device Creates 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. For instance, in February 2024, NUS researchers launched AI-powered eye for visually impaired people to see objects properly. Moreover, in February 2024 Orcam launched MyEye 3 Pro that aims to elevate the quality of life for visually impaired individuals by introducing several new features such as improved text recognition, enhanced face recognition, and smart magnifier with AI assistant.
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 technologies 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.
By Type, Mobility Impairments Holds the Dominant Share in the Assistive Device Market
Mobility impairments hold the dominant share of approximately 58.0% in the type segment of the assistive device market as to provide personalized and effective solutions that cater specifically to the requirements of individuals. The assistive device market for mobility impairments among the disabled and elderly includes several distinct categories, each designed to meet specific needs and enhance quality of life. According to the latest report published by Ottobock, worldwide more than 560 million people have a potential need for human mobility solutions. Mobility aids are foundational within this market, offering a range of devices to assist individuals in maintaining or regaining mobility.
By End User, Home Care holds Dominant Share Along with the Highest CAGR
Home care dominates the market share and exhibits the highest growth rate in assistive device due to its ability to provide personalized and effective solutions that cater specifically to the needs of individuals in their homes. These personalized devices are reshaping caregiving by providing a variety of tools designed specifically for home environments.
These home care assistive devices empower individuals to live confidently and comfortably in their familiar homes, promoting dignity and self-sufficiency. For instance, in January 2024, Munevo launched a smart wheelchair, Munevo Drive that uses head gestures empower individuals with severe muscle diseases. This device aims to enhance mobility and to provide support to the disabled individuals.
Europe Holds the Dominating Share in the Global Disabled & Elderly Assistive Device Industry
Europe holds the dominant share in the disabled & elderly assistive device market primarily due to Europe's aging population that have led to a larger elderly population facing age-related conditions, necessitating assistive devices to maintain independence and quality of life. From mobility aids to sensory enhancements, this market is rapidly expanding to meet these evolving needs across the region.
According to the Centre for Ageing Better report 2023, the number of individuals aged 65-79 in the UK is projected to reach 30% to over 10 million within the next 40 years. Moreover, as per the latest report published by Foundation de France, France's population of individuals aged over 85 is 1.4 million, this demographic is projected to reach 5 million by the year 2060.
Moreover, the increasing disability rate across Europe is a significant driver for the growing demand in the assistive device market. As the population ages and chronic conditions rise, there is a growing need for assistive devices that assist with mobility, sensory impairments, and other disability-related challenges.
According to the Eurostat, the percentage of people with a disability in Denmark (36.1%), followed by Finland (33.9%), Netherlands (32.3%), while Spain (30.4%), and Germany (30.3%). Thus, assistive devices aim to improve the quality of life for individuals with disabilities by ensuring widespread access and affordability of these essential devices, thereby promoting greater societal inclusion and well-being.
Additionally, the presence of prominent disabled & elderly assistive device market players across Europe is a crucial factor fueling industry demand. These leading companies are engaged in various business strategies, such as technological advancements, which are boosting the adoption of assistive devices. Their focus on innovation and market expansion is driving growth in the European assistive device sector.
As an example, Sunrise Medical launched the Allstar A2, a fully adjustable multi-sport wheelchair offering extensive customization options including adjustable seat height, center of gravity, footplate, and backrest. These devices enhance functionality, user experience, and personalization, promoting independence and improving quality of life for disabled athletes of all levels and abilities.
Asia-Pacific Region Witnesses Fastest Growth in the Disabled & Elderly Assistive Device Market
Asia-Pacific shows steady growth in the assistive device domain owing to the growing focus on R&D activities in the countries such as China and Japan saw a surge in patent registrations across tech and healthcare. This robust IP landscape promotes domestic innovation and attracts international investments, establishing Asian countries as a prominent global player.
As per the latest report by World Intellectual Property Organization (WIPO), China filed the largest number of assistive devices patent from 1998-2019, totaling 36,968, with the majority in mobility (25,972), followed by hearing (5,229), vision (4,089), self-care (2,589), and cognition (781). This growing patent portfolio reflects China's commitment to fostering a knowledge economy and driving sustainable development in key industries.
In addition, the key companies in this region are driving significant growth in the assistive device market through innovative product launches. These include advanced mobility aids aimed at enhancing quality of life for the elderly and disabled, fueling market expansion.
In 2023, Honda launched the Uni-One, a hands-free, eye-level electric personal mobility device controlled by upper body movements. This innovative device exemplifies Honda's efforts to leverage advancements and address diverse healthcare needs, fostering market expansion and improving accessibility to cutting-edge assistive devices across Japan.
Competitive Landscape
The promising players operating in the global disabled & elderly assistive device market includes William Demant Holding A/S, Ottobock SE & Co. KGaA, WS Audiology A/S, Sonova Holding AG, GN Store Nord A/S, Cochlear Ltd., Starkey Hearing Technologies, Invacare Corporation, MED-EL Medical Electronics, and Permobil AB, among others.
Note: Others companies include William Demant Holding A/S, Ottobock SE & Co. KGaA, Sonova Holding AG, GN Store Nord A/S, Starkey Hearing Technologies, Invacare Corporation, MED-EL Medical Electronics, Savaria Corporation, Sunrise Medical LLC, Stryker Corporation, and many more.
These players are engaged in various business strategies such as product launch, business expansion, and partnership across various regions to maintain their dominance in the global assistive device market.
|
Date |
COMPANY |
RECENT DEVELOPMENTS |
|
Jun-24 |
Ottobock |
Ottobock UK launched an innovative powered wheelchair, Juvo B7, designed to support users with complex positioning and mobility needs. It comes with advanced features to enhance comfort, functionality, and independence for individuals requiring specialized assistance. |
|
Jun-24 |
WS Audiology |
WS Audiology announced the establishment of an Audiological Research Laboratory in Singapore, furthering its commitment to advancing hearing healthcare through research and innovation. This new facility focus on conducting cutting-edge research in audiology, and aims to develop and enhance hearing aid devices. |
|
Jun-24 |
MED-EL Medical |
MED-EL Medical Electronics partnered with Microsoft to enhance communication assistive technology for people with hearing loss. The partnership aims to develop advanced accessibility tools for users of hearing devices such as cochlear implants. |
|
May-24 |
GN Store Nord A/S |
Jabra a subsidiary GN Audio launched advanced hearing aid, the Enhance Select 500. The product features compact "Micro RIE" design and includes SoundScape technology for improved speech clarity and advanced Bluetooth LE Audio. |
|
May-24 |
Invacare Corporation |
Invacare launched Alber DuoDrive Power Assist System, a cutting-edge enhancement for manual wheelchairs aimed at revolutionizing mobility for users. This innovative system integrates smoothly with existing manual wheelchairs, providing advanced power assistance that significantly improves ease of movement for disabled people. |
|
Feb-24 |
Starkey |
Starkey Hearing Technologies introduced its Genesis AI hearing aids in India, bringing advanced artificial intelligence capabilities to the market. These hearing aids are designed to revolutionize auditory assistance by offering personalized features that exceed traditional expectations. |
|
Oct-23 |
Permobil |
Permobil launched the carbon fiber TiLite CR1, a new wheelchair designed to offer superior performance and innovative design. This wheelchair's use of carbon fiber makes it exceptionally lightweight and durable, improving mobility for users. |
|
Aug-23 |
Cochlear Ltd. |
Cochlear Ltd., unveiled Osia System hearing aid to enhance hearing outcomes for people with conductive hearing loss, mixed hearing loss, and single-sided sensorineural deafness (SSD). |
Disabled & Elderly Assistive Device Market Key Segments
By Type
-
Mobility Impairments
-
Wheelchairs
-
Walkers and Rollators
-
Canes and Walking Sticks
-
Crutches
-
Portable Ramps
-
Others
-
-
Hearing Impairments
-
Hearing aids
-
FM System
-
Deafblind communicators for hearing
-
-
Visual Impairments
-
Screen readers
-
Optical magnifiers
-
Smart phones for vision
-
Braille writing equipment
-
Talking Devices
-
-
Cognitive Impairments
-
Self-Care
-
Shower Chairs
-
Grab-bars/handrails
-
By End User
-
Hospitals
-
Elderly Nursing Homes
-
Home Care
-
Other End Users
By Region
-
North America
-
The U.S.
-
Canada
-
Mexico
-
-
Europe
-
The UK
-
Germany
-
France
-
Italy
-
Spain
-
Denmark
-
Finland
-
Netherlands
-
Norway
-
Russia
-
Sweden
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
South Korea
-
Australia
-
Indonesia
-
Singapore
-
Taiwan
-
Thailand
-
Rest of Asia-Pacific
-
-
Rest of World
-
Latin America
-
Middle East
-
Africa
-
Key Players
-
William Demant Holding A/S
-
Ottobock SE & Co. KGaA
-
WS Audiology A/S
-
Sonova Holding AG
-
GN Store Nord A/S
-
Cochlear Ltd.
-
Starkey Hearing Technologies
-
Invacare Corporation
-
MED-EL Medical Electronics
-
Permobil AB
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size Value in 2023 |
USD 28.02 Billion |
|
Revenue Forecast in 2030 |
USD 70.05 Billion |
|
Value Growth Rate |
CAGR of 12.9% 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 |
|
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. |
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