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Projected CAGR 5.5% of the Elderly and Disabled Assistive Devices Market: Analysis and Forecast 2026
According to the report, the global elderly and disabled assistive devices market was pegged at $23.01 billion in 2018 and is projected to garner $35.60 billion by 2026, registering a CAGR of 5.5% from 2019 to 2026.
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Market Drivers:
Increasing Aging Population: The global population is experiencing a substantial increase in the elderly population. As people age, they are more likely to face physical limitations and disabilities, driving the demand for assistive devices that can help them maintain their independence and quality of life.
Rising Prevalence of Disabilities: The prevalence of disabilities is on the rise worldwide. Factors such as chronic diseases, injuries, and congenital conditions contribute to the increasing number of individuals living with disabilities. Assistive devices play a vital role in addressing their specific needs and enabling them to perform daily activities.
Market Segmentation:
Product Type:
a. Mobility Aids: Wheelchairs, walkers, crutches, mobility scooters, canes, etc.
b. Assistive Furniture: Adjustable beds, lift chairs, stairlifts, bathroom safety equipment, etc.
c. Hearing Aids and Assistive Listening Devices: Hearing aids, cochlear implants, assistive listening systems, etc.
d. Vision and Reading Aids: Magnifiers, braille devices, screen readers, talking watches, etc.
e. Prosthetics and Orthotics: Artificial limbs, braces, splints, orthopedic footwear, etc.
f. Communication and Speech Aids: Augmentative and alternative communication (AAC) devices, speech synthesizers, etc.
g. Daily Living Aids: Adaptive utensils, dressing aids, reachers, medication reminders, etc.
h. Others: Assistive technology software, smart home devices, robotics, etc.
End User:
a. Home Care: Elderly and disabled individuals living independently or with family members.
b. Hospitals and Clinics: Assistive devices used in healthcare facilities for rehabilitation and patient care.
c. Long-term Care Centers: Assisted living facilities, nursing homes, and rehabilitation centers.
d. Others: Schools, workplaces, community centers, and public spaces.
Distribution Channel:
a. Online Retailers: E-commerce platforms and websites specializing in assistive devices.
b. Offline Retailers: Specialty stores, medical equipment suppliers, and pharmacies.
c. Healthcare Providers: Hospitals, clinics, and rehabilitation centers that offer assistive devices.
d. Others: Direct sales from manufacturers, government initiatives, and nonprofit organizations.
Geography:
a. North America: United States, Canada, and Mexico.
b. Europe: United Kingdom, Germany, France, Italy, Spain, etc.
c. Asia Pacific: China, Japan, India, Australia, South Korea, etc.
d. Latin America: Brazil, Argentina, Mexico, etc.
e. Middle East and Africa: Saudi Arabia, UAE, South Africa, etc.
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Invacare Corporation
Sunrise Medical
Ottobock SE & Co. KGaA
Sonova Holding AG
William Demant Holding A/S
Permobil AB
GN Store Nord A/S
Stryker Corporation
Medline Industries, Inc.
Drive DeVilbiss Healthcare
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