Disabled & Elderly Assistive Technologies Market Overview:
Global Disabled & Elderly Assistive Technologies Market was valued at $22,466 million in 2016, and is anticipated to reach at $37,610 million by 2023, registering a CAGR of 7.8% from 2017 to 2023. The disabled & elderly assistive technologies comprise several devices that aims to provide improved quality of life and enhanced accessibility to disabled & geriatric patients. Moreover, these technologies include devices that could be utilized by the population who are not self-dependant. This technology aids the aged population to listen, read, move, and conduct other day-to-day activities.
The global disabled & elderly assistive technologies market is seglmented based on product, end user, and region. On the basis of product type, it 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. Region wise, it is analysed in North America, Europe, Asia-Pacific, and LAMEA.
Drivers, Restraints, and Opportunities
The global disabled & elderly assistive technologies market is driven by rise in geriatric & disabled population, lifestyle changes, availability of disabled & elderly assistive products, and increase in demand for assistive technologies due to the growth in trend of independent lifestyle. In addition, increase in number of assistive devices manufacturers investing in R&D activities of these technologies fuels the market growth. However, high cost of few sophisticated products, low level of acceptance for these products in the emerging economies, and low reimbursement from medical insurers restrain the market growth. Conversely, increase in proactiveness of people and rise in value to better health conditions are anticipated to provide lucrative growth opportunities for the market growth.
India Disabled & Elderly Assistive Technologies Market
The rise in adoption of modern & novel assistive technologies, increase in number of players in the country, and expansion of medical electronics sector drive the market growth in India. In addition, robust government initiatives toward improvement of healthcare facilities through insurance schemes is anticipated to provide lucrative growth opportunities in the country. Furthermore, the disabled & elderly assistive technologies market in India is expected to exhibit the highest CAGR of 12.6% from 2016 to 2023.
The key players operating in the market include Sunrise Medical LLC., GN ReSound Group, Sonova Holding AG, Starkey Hearing Technologies, William Demant Holding A/S, Wintriss Engineering Corporation, Drive Medical Design and Manufacturing, Ai Squared, Invacare Corporation, Siemens Ltd., and Widex Ltd.
The other key players in the value chain include Blue Chip Medical Products, Inc., Inclusive Technology Ltd., Liberator Ltd., and Permobil AB, Exact Dynamics B.V., Tobii Dynavox, Jabbla B.V.B.A., Bausch & Lomb, Inc., Medline Industries, Inc., Whirlpool Corporation, and others.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global disabled & elderly assistive technologies market along with current trends and future estimations to elucidate the imminent investment pockets.
- A quantitative analysis from 2016 to 2023 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Key market players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
- Porters five forces model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
Disabled & Elderly Assistive Technologies Market Key Segments:
Product
- Mobility Assistance Aids
- Wheelchairs
- Mobility Scooters
- Crutches & Canes
- Patient Mechanical Lift Handling
- Walkers & Rollators
- Others
- Assistive Furniture
- Medical Beds
- Riser Reclining Chairs
- Railings & Bar
- Door Openers
- Others
- Bathroom Safety & Assistive Products
- Commodes Chairs
- Shower Chairs
- Ostomy Products
- Others
- 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
End User
- Hospitals
- Elderly Nursing Homes
- Homecare
- Others
Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Turkey
- Saudi Arabia
- South Africa
- Rest of LAMEA
Disabled and Elderly Assistive Technologies Market Report Highlights
| Aspects | Details |
 By Product |
|
 By End User |
|
 By Geography |
|
 Key Market Players | INVACARE CORPORATION, GN RESOUND GROUP, WILLIAM DEMANT HOLDING A/S, SUNRISE MEDICAL LLC, DRIVE MEDICAL, AI SQUARED, SIEMENS LTD., STARKEY HEARING TECHNOLOGIES, SONOVA HOLDING AG, WINTRISS ENGINEERING CORPORATION |
Analyst Review
The disabled & elderly assistive technologies market aims to facilitate healthy independent living, improve quality of life, and limit healthcare costs by providing innovative & cost-effective solutions. This leads to increase in demand of these assistive technologies in the market. The development of novel assistive technologies such as motility scooters and patient mechanical lifts further fuel the demand.
The healthcare market is changing and many external players are seeking opportunity to enter the assistive technologies industry. Moreover, key players contribute significantly to the market growth by leveraging product diversification and combining innovations that are cost-effective with improved long-term health outcomes.
Over the years, the market has witnessed tremendous development in the assistive technologies. Emerging innovative & cost-effective assistive technologies drive the disabled & elderly assistive technologies market. These assistive technologies have evolved in terms of both performance and characteristics. Furthermore, interdisciplinary approaches, combining biotechnology, nanotechnology, information & communications technologies, and cognitive sciences, have revolutionized the medical devices sector. This leads to easy availability of several effective assistive technologies with greater accuracy, advanced control, and low power consumption.
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