Elderly and Disabled Assistive Devices Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2016-2021 and Forecast 2022-2028

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Elderly and Disabled Assistive Devices Market Analysis By Device Type (Bathroom safety & Medical furniture devices (Hearing aids, Ostomy products, Vision and reading aids, Medical beds, Shower chairs and commodes, Bars and railings, Others) Mobility aids & Medical ambulatory devices (Mobility scooters, Wheelchairs, Walkers & Rollators, Transfer lifts, Door openers, Cranes and crutches, Others)), By Technology (Battery powered assistive device, Electrical assistive devices, Human-powered assistive devices, Software-based assistive devices, Others), By End User (Hospitals, Ambulatory surgical centres, Homecare) and Geography 

 

 

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Report

Description

Elderly And Disabled Assistive Devices Market size was valued at USD 25,610 billion in 2021 and is expected to reach USD 37,254 billion by 2028, at a CAGR of 5.5% during the forecast period 2022-2028. The Increase in the prevalence of neurological disorders such as dementia, a rise in the number of accident cases, growing global geriatric population, technological advancements in various elderly and disabled assistive devices, and availability of the varied products are anticipated to propel the elderly and disabled assistive devices market over the forecast period. Furthermore, rise in funding from the government and other NGO organizations for the distribution of assistive products, favourable reimbursement policies, an increase in healthcare expenditure might fuel the elderly and disabled assistive devices market growth. However, a high cost of the assistive devices, product recalls, and poor acceptance of some products might hinder the growth of market over the forecast timeframe. Elderly and disabled assistive devices are used by the ageing people or disabled people who are dependant on others for day to day activities. The assistive devices help in enhancing the reading, listening, moving, and other daily activities. Different types of assistive devices are available for different functions which makes the life independent and comfortable. Most commonly used elderly and disabled assistive devices include visual and hearing aids, wheelchairs, and computerized hardware and software system for improving daily activities independently.

Elderly and Disabled Assistive Devices Market

MARKET SUMMARY
-
5.5%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 5.5%
  • Largest Market– Europe
  • Fastest Growing Market– North-America

Elderly and Disabled Assistive Devices Market

  • This report gives a comprehensive outlook on elderly and disabled assistive devices market with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.
  • The report gives historical, current, and future market sizes (US$ Bn) on the basis of device type, technology, end user and region.
Key Players
  • Ai Squared
  • Blue Chip Medical
  • Bausch & Lomb, Inc
  • GN Hearing
  • Permobil AB
Elderly and Disabled Assistive Devices Market

DRIVERS AND RESTRAINTS

Elderly and Disabled Assistive Devices Market is growing at a significant CAGR owing to rise in technological advancements and innovation of novel devices which reduce strain to the patients. An upsurge in global geriatric population (according to U.S. Census Bureau, the global ageing population above 65 years is 8.5% in 2015 and is expected to reach 12% in 2030) an increase in the disability cases due to accidents are anticipated to fuel the elderly and disabled assistive devices market. New product launches with novel technologies, patent filings, and product launchings are the strategies followed by the companies for increasing their revenue in elderly and disabled assistive devices market. For instance, In August 2015, Advanced Bionics (Sonova Holding AG) received the FDA approval for Naida Ci Q 90 and Q30, a cochlear implant system with improved battery life and reduce the size.


North-America Got Significant Share

Elderly and Disabled Assistive Devices Market

Geographically, Elderly and Disabled Assistive Devices Market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has a significant share in market attributed to increase in the disposable income, favourable reimbursement scenario, technological advancements in the devices, an increase in the geriatric population (according to U.S. Department of Health and Human Services 2014, more than 46.2 Mn people are with 65 years or more age). In Europe, high adoption of assistive devices, collaboration and acquisitions between the companies, an increase in the healthcare expenditure are fuelling the growth of market. However, Asia Pacific has a lucrative growth owing to increase in the geriatric population in India, China, and Japan, low cost for the products, government reimbursement policies, an increase in the accident cases.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, and forecast from 2022-2028
  • The report covers in-detail insights about the competitor’s overview, key findings, and their key strategies
  • The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
  • The report tracks recent innovations, key developments, and startup’s details that are working in the industry
  • The report provides plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Key

Developments

Elderly and Disabled Assistive Devices Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • Sunrise Medical LLC (U.S.)
  • Sonova Holding AG (Germany)
  • Ai Squared (U.S.)
  • Blue Chip Medical (U.S.)
  • Bausch & Lomb, Inc. (U.S.)
  • GN Hearing (Denmark)
  • Permobil AB (Permobil International AG) (Sweden)
  • Siemens Healthneers (Germany)
  • Wintriss Engineering Corporation (U.S.)
  • Invacare Corporation (U.S.)

Description

Elderly And Disabled Assistive Devices Market size was valued at USD 25,610 billion in 2021 and is expected to reach USD 37,254 billion by 2028, at a CAGR of 5.5% during the forecast period 2022-2028. The Increase in the prevalence of neurological disorders such as dementia, a rise in the number of accident cases, growing global geriatric population, technological advancements in various elderly and disabled assistive devices, and availability of the varied products are anticipated to propel the elderly and disabled assistive devices market over the forecast period. Furthermore, rise in funding from the government and other NGO organizations for the distribution of assistive products, favourable reimbursement policies, an increase in healthcare expenditure might fuel the elderly and disabled assistive devices market growth. However, a high cost of the assistive devices, product recalls, and poor acceptance of some products might hinder the growth of market over the forecast timeframe. Elderly and disabled assistive devices are used by the ageing people or disabled people who are dependant on others for day to day activities. The assistive devices help in enhancing the reading, listening, moving, and other daily activities. Different types of assistive devices are available for different functions which makes the life independent and comfortable. Most commonly used elderly and disabled assistive devices include visual and hearing aids, wheelchairs, and computerized hardware and software system for improving daily activities independently.

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