Elderly and Disabled Assistive Devices Market – Evolving from Luxury to Necessity By Top Industry:

The World Health Organization (WHO) prepared a comprehensive global disability action plan for 2014 – 2021, through which WHO intends to improve access to health services and programs, extend rehabilitation, assistive technology, assistance and support services, and support research on disability and related services.

Manufacturers are increasingly focusing on reaching out to consumers directly to increase their sales. For instance, SonovaGroup follows vertically-integrated business, wherein it also markets products through its retail stores, thus reaching out to customers and offering them customized solutions. The company acquired AudioNova in September 2016—a Netherlands-based hearing aid manufacturer—with an aim to double its presence in Europe in terms of retail stores.

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Melvin ApS launched a robot called Melvin, which aids elderly and disabled people in the toilet, in 2016. Similarly, #VitalConnect,Inc.is focusing on developing wearable health sensors that can detect body temperature, heart rate, falls and other such incidents in elderly and disabled patients.

Furthermore, on the basis of discussion in the 66th World Health Assembly, held in 2013, WHO prepared a comprehensive global disability action plan for 2014 – 2021. Under this plan, WHO intends to improve access to health services and programs, extend rehabilitation, habilitation, assistive technology, assistance and support services, and support research on disability and related services. Such global initiatives are indirectly promoting adoption of assistive devices and are encouraging manufacturers to develop innovative elderly and disabled assistive devices.

The global elderly and disabled assistive devices market is extensively competitive attributed mainly to the entry of regional players offering low-cost products. This is influencing leading players such as Sonova Holding AG to increase their global presence through organic and inorganic strategies. Sonova Holding AG acquired AudioNova in September 2016, a Netherlands-based hearing aid manufacturer.

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This acquisition helped Sonova to strengthen its presence in Europe, by doubling the existing number of retails stores. Sonova Holding AG is implementing a vertically integrated business model by offering customized solutions to individual customers by expanding the number of retail stores. Similarly, other market leaders are anticipated to cement their distribution channels to capitalize on the global elderly and disabled assistive devices market potential.

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