Gerontechnology Market Surges with 15.7% CAGR | Global Outlook 2024-2031 | Latest Trends Companies likes Invacare Corporation, Karman Healthcare Inc., Ottobock, Pride Mobility Products Corp., Medtronic, Sunrise Medical, Meyra GmbH

The Global Gerontechnology Market reached US$ 140.5 billion in 2023 and is expected to reach US$ 435.3 billion by 2031, growing at a CAGR of 15.7% during the forecast period 2024-2031.

Gerontechnology Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Gerontechnology is the interdisciplinary field that combines gerontology and technology to develop innovative solutions that enhance the health, independence, and quality of life for older adults. It includes devices, applications, and systems designed for aging populations, such as assistive technologies, smart home systems, and health monitoring tools.

List of the Key Players in the Gerontechnology Market:

Invacare Corporation, Karman Healthcare Inc., Ottobock, Pride Mobility Products Corp., Medtronic, Sunrise Medical, Meyra GmbH, Koninklijke Philips N.V., Sensi.AI, and Labrador Systems Inc.

Industry Development:

In October 2024, FIDO AI Ltd, a software company focused on reducing non-revenue water (NRW) using AI-powered solutions and curated water data, successfully closed its Series B funding round. The new investment will support FIDO AI's global expansion and its mission to enhance water resilience.
In July 2023, SUEZ partnered with Schneider Electric to promote digital solutions that improve energy efficiency, conserve resources, and reduce the carbon footprint of water management systems. The collaboration highlights the role of digital transformation in sustainable water practices.
In June 2023, SUEZ and Northumbrian Water Ltd. (NWL) launched the Hydro Powered Concentric Smart Meter Project, which received the Ofwat Innovation Fund's Catalyst Stream prize. This initiative aims to revolutionize water usage monitoring through next-generation smart metering technology.

Growth Forecast Projected:

The Global Gerontechnology Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Gerontechnology Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Gerontechnology Market:

By Product Type: Health Monitoring Devices, Assistive Devices, Smart In-Home Technology Based Products, Others

By Age Group: 60 - 70 Yrs, 71 - 80 Yrs, Above 80 Yrs

By End-User: Hospitals, Old Age Homes, Homecare, Others

Regional Analysis for Gerontechnology Market:

The regional analysis of the Gerontechnology Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Gerontechnology market?

➠ Who are the leading manufacturers in the global Gerontechnology industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Gerontechnology industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Gerontechnology market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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