The global elderly & disabled assistive devices market size was $23,009 million in 2018 and is anticipated to reach $35,599 million by 2026, registering a CAGR of 5.5% from 2019 to 2026. Assistive devices, as the term signifies are the medical devices that assist elderly as well as disabled people to form their various basic tasks such as walking, hearing problems, vision problems, and others. The mobility aids devices include wheelchairs, scooters, and others that alleviate disabled individuals with their mobility. Moreover, there are various kinds of hearing aids that help individuals with hearing difficulties such as Behind-the-ear Aids (BTE), Receiver-in-the-Ear Aids (RITE), In-the Ear Aids (ITE), Bone Anchored Hearing Aids (BAHA), canal hearing aids and cochlear implants.
The global elderly and disabled assistive devices market is primarily driven by significant rise in mobility impairment disorders, lifestyle changes, and availability of a variety of disabled & elderly assistive products. In addition, considerable increase in demand for assistive devices due to rise in trend of an independent lifestyle further fuels the market growth. Furthermore, growth in the number of assistive devices manufacturers investing in the R&D activities of these technologies is estimated to boost the market growth.
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However, high cost of few sophisticated products, low level of acceptance for few products, and low reimbursement from medical insurers restrain the growth of the market. On the contrary, an increase in proactiveness of people and rise in health consciousness among people are anticipated to provide lucrative growth opportunities for the market growth. The global elderly & disabled assistive devices market is segmented based on type and region. Based on type, it is divided into living aids, mobility aids devices, medical furniture, and bathroom safety equipment. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
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KEY BENEFITS FOR STAKEHOLDERS
> This report provides an extensive analysis of the emerging trends and dynamics in the global elderly & disabled assistive devices market.
> This study provides the landscape of the global market to predict the competitive environment across geographies.
> This report entails the detailed quantitative analyses of the current trends and future estimations to identify the prevailing opportunities.
> Comprehensive analyses of factors that drive and restrict the market growth is provided in the report.
> Region- and country-wise analysis is conducted to understand the market trends and dynamics.
The key players profiled in this report are as follows:
> AI Squared
> Drive Medical.
> GN Resound Group.
> Invacare
> William Demant Holding A/S
> Nordic Capital (Sunrise Medical LLC)
> Pride Mobility Products Corporation
> Siemens Ltd
> Sonova Holding AG
> Starkey hearing technologies
The other players operating in the elderly & disabled assistive devices market include (not profiled in the report)
> Bausch & Lomb, Inc.,
> Inclusive Technology Ltd.
> Liberator Ltd.
> Tobii Dynavox
> JABBLA B.V.B.A
> Blue Chip Medical Type, Inc.
> Permobil AB
> Medline Industries, Inc.
KEY MARKET SEGMENTS
By Type
> Living Aids Devices
o Hearing Aids
? Behind-the-ear Aids (BTE)
? Receiver-in-the-Ear Aids (RITE)
? In-the?Ear Aids (ITE)
? Bone Anchored Hearing Aids (BAHA)
? Canal Hearing Aids
? Cochlear Implants
o Reading and Vision Aids
? Braille Translators
? Video Magnifiers
? Reading Machines
? Others
> Mobility Aids Devices
o Wheelchairs
? Manual Wheelchairs
? Powered Wheelchairs
o Mobility Scooters
? Walkers & Rollators
? Canes & Walking Sticks
? Crutches
? Transfer Lifts or Patient Mechanical Lift Handling
? Door Openers
? Others
> Medical Furniture
o Medical Beds
o Door Openers
o Medical Furniture Accessories
o Riser Reclining Chairs
o Others
> Bathroom Safety Equipment
o Shower Chairs
o Commodes
o Ostomy Products
o Bars, Grips, & Rails
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> By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? UK
? Italy
? Spain
? Rest of Europe
o Asia-Pacific
? Japan
? China
? India
? Australia
? Rest of Asia-Pacific
o LAMEA
? Brazil
? Saudi Arabia
? South Africa
? Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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