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Global Elderly and Disabled Assistive Devices Market Analysis 2024
Elderly and Disabled Assistive Devices Market Analysis
The new report published by The Business Research Company, titled Elderly And Disabled Assistive Devices 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 elderly and disabled assistive devices market size has grown strongly in recent years. It will grow from $24.61 billion in 2023 to $26.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The elderly and disabled assistive devices market size is expected to see strong growth in the next few years. It will grow to $35.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
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What Is Driving The Growth Of The Global Elderly And Disabled Assistive Devices Market?
The Growing Prevalence Of Disabilities Fuels Demand For Assistive Devices
The rising number of disabilities is expected to propel the growth of elderly and disabled assistive devices going forward. Disability is a condition that significantly impairs an individual's ability to perform certain activities or access societal resources. The rising number of disabilities is due to several factors, such as the aging population, chronic health conditions, and genetic factors. Elderly and disabled assistive devices enable independent living, improve quality of life, and reduce healthcare costs for individuals with disabilities. For instance, in October 2021, according to the Public Library of Science(PLOS), a US-based nonprofit organization, the total number of people with disabilities in the US would increase by approximately 60 million between 2020 and 2050. Therefore, the rising number of disabilities is driving the growth of the elderly and disabled assistive devices market.
What Is The Key Trend In The Global Elderly And Disabled Assistive Devices Market?
Strategic Collaborations Drive Innovation In Assistive Devices, Enhancing Mobility And Quality of Life For Disabled Individuals
Major companies operating in the elderly and disabled assistive devices market are collaborating to develop integrated solutions that enhance users' mobility, independence, and quality of life. The strategic partnerships facilitate the development of innovative solutions that address the complex needs of elderly and disabled individuals, leading to more effective, accessible, and user-friendly products. For instance, in July 2023, University College London (UCL), a UK-based University, and the Indian Institute of Technology, an India-based organization, partnered to drive disability innovation through assistive technology, represents a significant effort to enhance the quality of life for individuals with disabilities. This initiative focuses on leveraging advanced technologies and innovative solutions to address the unique challenges disabled individuals face, particularly in India. Furthermore, in January 2024, The Central government of India collaborated with All India Institute of Medical Sciences (AIIMS), an India-based university aimed at providing assistive devices for individuals with disabilities. This initiative is part of the government's commitment to enhance the quality of life for persons with disabilities by ensuring access to necessary aids and appliances.
How Is The Global Elderly And Disabled Assistive Devices Market Segmented?
The elderly and disabled assistive devices market covered in this report is segmented -
1) By Device Types: Medical Mobility Aids And Ambulatory Devices, Medical Furniture And Bathroom Safety Products, Hearing Aids, Vision And Reading Aids
2) By Distribution Channel: Online Channels, Offline Channels
3) By End-User: Hospitals, Homecare Settings, Nursing Homes, Assisted Living Facilities, Other End-Users
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How Is The Competitive Landscape Of The Global Elderly And Disabled Assistive Devices Market?
Major companies operating in the elderly and disabled assistive devices market are Siemens AG, Bausch And Lomb Inc., Sonova Holding AG, William Demant Holding A/S, Starkey Hearing Technologies Limited, Invacare Corporation, NOVA Medical Inc., Permobil AB, Sunrise Medical LLC, Drive DeVilbiss Healthcare Limited, Pride Mobility Products Corporation, GF Health Products Inc., Handicare Group AB, Carex Health Brands Inc., AI Squared, Audina Hearing Instruments Inc., Blue Chip Medical Products Inc., New Century Products Co. Ltd, Kaye Products Inc., Magic Mobility Ltd.
Contents Of The Global Elderly And Disabled Assistive Devices Market
1. Executive Summary
2. Elderly And Disabled Assistive Devices Market Report Structure
3. Elderly And Disabled Assistive Devices Market Trends And Strategies
4. Elderly And Disabled Assistive Devices Market - Macro Economic Scenario
5. Elderly And Disabled Assistive Devices Market Size And Growth
…..
27. Elderly And Disabled Assistive Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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