Global Disabled and Elderly Assistive Technology Market Revenue, Opportunity, Segment and Key Trends 2018-2024

The Disabled and Elderly Assistive Technology Market’s segment market shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates. Each segment represented visually with supporting reasons to justify the growth rates. IGR’s report also covers drivers and restraints in the disabled and elderly assistive technology market.

Infinium Global Research’s report covers the annual growth of the Global disabled and elderly assistive technology market. It also includes chapters on the Global disabled and elderly assistive technology industry trends, geographic analysis, and competitive landscape.

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The report also includes a SWOT analysis to present the indicators of strength, weakness, prospects, and risk of the market until the completion of the projection period in 2024.

Disabled and Elderly Assistive Technology Market: Industry Insights

The technologies and devices designed for people with disabilities or the elderly population that is used to perform activities of daily life are known as disabled and elderly assistive technology. These include visual aids, hearing aids, cognitive aids and mobility aids such as wheelchairs, scooters, walkers, canes, crutches, prosthetic devices, and orthotic devices.

Disabled and Elderly Assistive Technology Market: Driver and Restraints

The global trends in aging populations and the higher risk of disability in older people are primarily driving the disabled and elderly assistive technology market. More than 46 percent of the older population have disabilities and more than 250 million older people experience moderate to severe disability. Assistive technologies reduce institutional barriers and help them to participate equally in all aspects of life. In addition, the rise in a number of accidents and several chronic non-communicable diseases are likely to boost the disabled and elderly assistive technology market. Furthermore, poor lifestyle and low physical activities that lead to obesity are anticipated to favor market growth.

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Disabled and Elderly Assistive Technology Market: Segmentation

The report on global disabled and elderly assistive technology market is bifurcated into the product, and end-user. Based on product, the market is classified into Activity Monitors, Assistive Furniture, Bathroom Safety and Assistive Products, Communication Aids, Location Monitors, Medical Mobility Aids, and Ambulatory Devices, and Others. The end-user segment is further bifurcated into assisted living facilities, hospitals and nursing homes, and home care. The home care segment is anticipated to hold the major market share among the end users. The increasing elderly population, growing disposable income and rising demand for assistive technologies are driving the growth of the home care segment. However, assisted living facilities is expected to grow at the fastest rate over the forecast period.

Disabled and Elderly Assistive Technology Market: Regional Insights

North America dominates the disabled and elderly assistive technology market. High disposable income, a rising aging population, access to insurances and higher availability of the assistive technology devices are the factors contributing to the growth of North America disabled and elderly assistive technology market. In addition, the presence of major assistive device manufacturers in this region can further increase the revenue opportunity in this region. Moreover, people in the North America region have high spending capacity that favors the growth of the market. The Asia Pacific is projected to grow at the fastest rate due to rising income, growing awareness about assistive technologies and increasing in geriatric population over the forecast period.

Disabled and Elderly Assistive Technology Market: Competitive Landscape

The disabled and elderly assistive technology market is highly fragmented. The major market players in this market include Wintriss Engineering, William Demant Holding A/S, Sonova, Permobil, Bausch & Lomb Incorporated, BLUE CHIP MEDICAL, Ai Squared, Freedom Scientific, Inc., Medical Depot, Inc., and GN Store Nord A/S among others. The companies in this market are focusing on the development of new products and innovation in existing products. In Oct 2018, MoBiLET has developed Single Person Transport Design an innovative electric-powered, personal-mobility device to help boost the level of self-motivation of the elderly.

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