Thailand 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: 03-Oct-2024 | No of Pages: 120 | No. of Tables: 87 | No. of Figures: 50 | Format: PDF | Report Code : HC2707
Thailand Disabled & Elderly Assistive Device Market Overview
The Thailand Disabled & Elderly Assistive Device Market size was valued at USD 361.9 million in 2023, and is predicted to reach USD 1038.9 million by 2030, at a CAGR of 15.2% 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 sector for daily living aids for disabled people 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.
Robust Healthcare Expenditure Drives the Demand for Assistive Devices
Thailand's increasing healthcare expenditure is significantly propelling the growth of the healthcare sector and consequently the demand for the disabled & elderly assistive device market. With rising investments in healthcare infrastructure, services, and advanced medical devices, the region aims to enhance accessibility and quality of healthcare across the population.
The World Bank Group report 2024 stated that, the share of healthcare expenditure of GDP in Taiwan is 5.2% in 2021. This financial commitment ensures adequate funding for the development and availability of assistive devices, catering to the needs of the elderly and disabled individuals. The focus on improving healthcare services and infrastructure is crucial in driving the Thailand disabled & elderly assistive device market demand and adoption.
Rising Aging Population Boosts the Demand for Assistive Devices in Thailand
The rising aging population is significantly propelling the Thailand disabled & elderly assistive device market growth. As more people age, there is an increasing need for devices that cater to age-related health conditions and support independent living.
According to the World Bank Group report 2022, Thailand’s population aged 65 and more stood at 15.0% of overall population. This demographic shift underscores the importance of innovative solutions such as mobility aids, vision impairments aids, and medical devices designed to enhance the quality of life for elderly individuals in Thailand. The rising prevalence of chronic illnesses and mobility challenges among senior citizens, further amplifies the demand for such mobility devices.
The High Cost Associated with Assistive Devices Hinders the Thailand Disabled & Elderly Assistive Device Market Expansion
The high cost of assistive devices creates significant barriers for people in developing and underdeveloped countries, particularly those with low or fixed incomes. These essential tools, that greatly improve the quality of life for individuals with disabilities, often remain out of reach due to the stark economic disparities and limited financial resources.
Factors such as high import costs, inadequate government support, and lack of affordable financing options exacerbate this problem, preventing many from accessing devices such as living aids, hearing aids and mobility aids.
The Integration of AI into Assistive Devices is Expected to Create Ample Growth Opportunities for the Market
The integration of 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.
Competitive Landscape
The promising players operating in Thailand disabled & elderly assistive device industry includes Starkey Hearing Technologies, elife Gear, Matsunaga, Hitech Innovations, Ostrich Mobility, Dragon Medical Co., Ltd, Satconmed, Meditech Solution, Eilorss, Falcon Mobility, and others.
Thailand 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
-
Crutches
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Portable Ramps
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Others
-
-
Hearing Impairments
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Hearing aids
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FM System
-
Deafblind communicators for hearing
-
-
Visual Impairments
-
Screen readers
-
Optical magnifiers
-
Smart phones for vision
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Braille writing equipment
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Talking Devices
-
-
Cognitive Impairments
-
Self-Care
-
Shower Chairs
-
Grab-bars/handrails
-
By End User
-
Hospitals
-
Elderly Nursing Homes
-
Home Care
-
Other End Users
Key Players
-
Starkey Hearing Technologies
-
elife Gear
-
Matsunaga
-
Hitech Innovations
-
Ostrich Mobility
-
Dragon Medical Co., Ltd
-
Satconmed
-
Meditech Solution
-
Eilorss
-
Falcon Mobility
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size Value in 2023 |
USD 361.9 million |
|
Revenue Forecast in 2030 |
USD 1038.9 million |
|
Value Growth Rate |
CAGR of 15.2% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (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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