Press release
Disabled and Elderly Assistive Technology Market 2024: Global Industry Overview, Trends, and Innovations
Disabled and Elderly Assistive Technology Market
The new report published by The Business Research Company, titled Disabled And Elderly Assistive Technology Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the disabled and elderly assistive technology market size has grown strongly in recent years. It will grow from $39.63 billion in 2023 to $42.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The disabled and elderly assistive technology market size is expected to see strong growth in the next few years. It will grow to $57.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
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What Is Driving The Growth Of The Global Disabled And Elderly Assistive Technology Market?
Increased Employment Of People With Disabilities Boosts Disabled And Elderly Assistive Technology Market
The increasing employment-population ratio for individuals with disabilities is expected to propel the growth of the disabled and elderly assistive technology market going forward. The rising employment-population ratio for individuals with disabilities is attributed to improved accessibility, inclusive hiring practices, and enhanced support programs. Disabled and elderly assistive technology enables individuals with disabilities to perform job tasks more effectively and independently, improving their employability and access to a wider range of job opportunities. For instance, in February 2024, according to the Bureau of Labor Statistics, a US-based agency of the United States Department of Labor, in 2023, the employment-population ratio for individuals with disabilities rose by 1.2% points, reaching 22.5%. Therefore, the increasing employment-population ratio for individuals with disabilities is driving the disabled and elderly assistive technology market.
What Is The Key Trend In The Global Disabled And Elderly Assistive Technology Market?
Starkey's Genesis AI Hearing Aids Enhance Accessibility For The Disabled And Elderly
Major companies operating in the disabled and elderly assistive technology market are focusing on advancements in technology with AI-powered hearing aids and other assistive devices to gain traction in the market. These hearing aids leverage artificial intelligence to improve sound quality, adapt to different environments, and offer personalized hearing experiences. For instance, in January 2024, Starkey, a U.S.-based hearing aid manufacturer, launched the Genesis AI hearing aids in Australia and New Zealand. These hearing aids feature real-time environment adaptation, advanced noise reduction, and seamless connectivity with smart devices, providing users with clearer sound and improved communication capabilities. This innovation illustrates how AI integration in hearing aids significantly enhances accessibility and user experience, addressing the specific needs of individuals with hearing impairments.
How Is The Global Disabled And Elderly Assistive Technology Market Segmented?
The disabled and elderly assistive technology market covered in this report is segmented -
1) By Product Type: Medical Mobility Aids And Ambulatory Devices, Assistive Furniture, Bathroom Safety And Assistive Products, Communication Aids, Activity Monitors, Location Monitors, Other Product Types
2) By Distribution Channel: Online, Offline
3) By End-User Type: Hospitals, Elderly Nursing Homes, Homecare, Other End-Users
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How Is The Competitive Landscape Of The Global Disabled And Elderly Assistive Technology Market?
Major companies operating in the disabled and elderly assistive technology market are Siemens Healthineers AG, Whirlpool Corporation, Medline Industries LP, Bausch Health Companies Inc., Sonova Holding AG, Demant A/S, GN Store Nord A/S, Otto Bock HealthCare GmbH, Cochlear Ltd, Starkey Laboratories Inc., Invacare Holdings Corp, MED-EL Medical Electronics, Permobil Inc., Sunrise Medical LLC, Pride Mobility Products Corp., Tobii Dynavox LLC, Nordic Capital Limited (NCL), Freedom Scientific Inc., Liberator Ltd., Jabbla UK Ltd., Wintriss Engineering, Blue Chip Medical Products Inc., Medical Depot Inc., Inclusive Technology Ltd, Exact Dynamics B.V.
Contents Of The Global Disabled And Elderly Assistive Technology Market
1. Executive Summary
2. Disabled And Elderly Assistive Technology Market Report Structure
3. Disabled And Elderly Assistive Technology Market Trends And Strategies
4. Disabled And Elderly Assistive Technology Market - Macro Economic Scenario
5. Disabled And Elderly Assistive Technology Market Size And Growth
…..
27. Disabled And Elderly Assistive Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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