Zion Market Research has published a new report titled “Disabled and Elderly Assistive Technology Market by Product (Medical Mobility Aids and Ambulatory Devices [Wheelchairs, Scooters, Crutches & Canes, Transfer Lifts, Walkers & Rollators, and Slings], Assistive Furniture [Beds, Riser Reclining Chairs, Railings & Bar, and Door Openers], Bathroom Safety and Assistive Products [Commodes & Shower Chairs, Ostomy Products, and Others], Communication Aids [Speech & Writing Therapy, Hearing Aids, and Vision & Reading Aids], Activity Monitors, Location Monitors, and Others), and by End User (Hospitals and Nursing Homes, Assisted Living Facilities, and Home Care): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global disabled and elderly assistive technology market was valued at approximately USD 18.70 billion in 2017 and is expected to generate revenue of around USD 30.82 billion by end of 2024, growing at a CAGR of around 7.40% between 2018 and 2024.
Devices which help to overcome impairments, cognitive difficulties, and disabilities in the geriatric & disabled population are provided by the assistive technologies. These technologies assist in independent living, reduce healthcare costs, and improve health outcomes. This market has witnessed tremendous development and has evolved both in terms of characteristics and performance.
The disabled and elderly assistive technology market is segmented on the basis of product into medical mobility aids and ambulatory devices, assistive furniture, bathroom safety and assistive products, communication aids, activity monitors, location monitors, and others. The medical mobility aids and ambulatory devices are further segmented into wheelchairs, scooters, crutches and canes, transfer lifts, walkers and rollators, and slings. The assistive furniture segment is divided into riser reclining chairs, beds, railings and bar, and door openers. The bathroom safety and assistive products are further segmented into commodes and shower chairs, ostomy products, and others. The communication aids segment is further bifurcated into speech and writing therapy, hearing aids, and vision & reading aids. Of which the communication aids segment accounted for a larger share of the market in 2017. This growth is attributed to the rise in disabled & geriatric populace requiring speech, vision, and hearing assistance and advancements in technology. The mobility assistance segment is likely to register a high CAGR in the forecast period.
Based on the end user, the disabled and elderly assistive technology market is segmented into hospitals and nursing homes, assisted living facilities, and home care. Of these, the home care segment accounted for a larger share of the market and is anticipated to generate higher revenue in the forecast period. This growth is mainly attributed due to the growth in demand for these assistive technologies in the home care setting to assist daily lifestyle activities.
Regionally, the market for disabled and elderly assistive technology is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. North America is the leading contributor for the disabled and elderly assistive technology market owing to the fact that numerous market players are based in the U.S. However Asia Pacific and LAMEA collectively are likely to account for about two-ninths share of the market in the forecast period owing to rising disposable incomes and the increase in government funding in these two regions.
Some of the leading players in disabled and elderly assistive technology market include GN Resound Group, Drive Medical Design And Manufacturing, Freedom Scientific, Inc., Ai Squared, Blue Chip Medical Products, Inc., Bausch & Lomb, Inc., Permobil AB, Sonova Holding AG, William Demant Holding A/S, and Wintriss Engineering Corporation.
This report segments the global disabled and elderly assistive technology market as follows:
Global Disabled and Elderly Assistive Technology Market: Product Segment Analysis
- Medical Mobility Aids and Ambulatory Devices
- Crutches & Canes
- Transfer Lifts
- Walkers & Rollators
- Assistive Furniture
- Riser Reclining Chairs
- Railings & Bar
- Door Openers
- Bathroom Safety and Assistive Products
- Commodes & Shower Chairs
- Ostomy Products
- Communication Aids
- Speech & Writing Therapy
- Hearing Aids
- Vision & Reading Aids
- Activity Monitors
- Location Monitors
Global Disabled and Elderly Assistive Technology Market: End-User Segment Analysis
- Hospitals & Nursing Homes
- Assisted Living Facilities
- Home Care
Global Disabled and Elderly Assistive Technology Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa