Elderly And Disabled Assistive Devices Market Growth Accelerates: Strategic Forecast Predicts $38.09 Billion by 2029

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What Will the Elderly And Disabled Assistive Devices Industry Market Size Be by 2025?
There has been significant growth in recent years in the market size for assistive devices for the elderly and disabled. The market is set to expand from $26.49 billion in 2024 to $28.42 billion in 2025, representing a compound annual growth rate (CAGR) of 7.3%. Factors contributing to this growth during the historic period include a rise in chronic health conditions, increased life expectancy, a growing number of road accidents, an ageing population, and an increased incidence of disabilities.

What's the Long-Term Growth Forecast for the Elderly And Disabled Assistive Devices Market Size Through 2029?
In the upcoming years, it is projected that the market size for assistive devices for the elderly and disabled will undergo significant growth. It is estimated to expand to $38.09 billion by 2029, with a compound annual growth rate (CAGR) of 7.6%. Factors contributing to the growth in this period include a surge in the demand for assistive devices, an increase in hospital admission for treatments, hike in healthcare spending, a rise in occurrences of mobility, and amplified need for home care services. Key trends to watch during this forecast period include the inclusion of smart technologies, breakthroughs in communication devices, advancements in assistive devices, the rise of smart home appliances, and developments in wearable technology.

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What Are the Key Growth Drivers Fueling the Elderly And Disabled Assistive Devices Market Expansion?
The increase in disability instances is anticipated to fuel the expansion of assistive devices for the elderly and disabled in the future. Having a disability significantly hinders a person's capacity to execute certain tasks or utilize societal resources. Numerous factors contribute to the escalating number of disabilities, including an aging population, chronic health illnesses, and hereditary influences. Assistive devices for the elderly and disabled facilitate autonomy, enhance life quality, and minimize healthcare expenditures for individuals with disabilities. For example, the House of Commons Library of the UK Parliament, a governmental body in the United Kingdom, reported in October 2024 that disability incidence rises with age: in 2022/23, approximately 11% of UK children were disabled, as opposed to 23% of working-age adults and 45% of individuals above the State Pension age. Consequently, the escalating number of disabilities is spurring the expansion of the assistive devices market for the elderly and disabled.

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What Long-Term Trends Will Define the Future of the Elderly And Disabled Assistive Devices Market?
Leading firms within the elderly and disabled assistive devices market are forming alliances to create comprehensive solutions aimed at improving mobility, independence, and quality of life for users. These strategic partnerships support the creation of innovative solutions specifically designed to meet the complex needs of elderly and disabled individuals, resulting in more effective, accessible, and user-friendly products. For example, in July 2023, a significant step was taken by University College London (UCL), a UK university, and the Indian Institute of Technology, an organization based in India, who collaborated to promote disability innovation via assistive technology, with the aim of improving the way of life for people with disabilities. The objective of this collaboration centers around employing advanced technology and creative answers to tackle the unique difficulties faced by people with disabilities, specifically in India. Moreover, in January 2024, The central Indian Government, alongside All India Institute of Medical Science (AIIMS), an Indian university, undertook an initiative to supply assistive devices for people with disabilities. This initiative is part of the government's commitment to improve living conditions for disabled individuals by guaranteeing available to required aids and appliances.

How Is the 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

Subsegments:
1) By Medical Mobility Aids And Ambulatory Devices: Wheelchairs, Walkers, Scooters, Crutches And Canes, Lift Chairs And Recliners, Stair Lifts And Elevators
2) By Medical Furniture And Bathroom Safety Products: Adjustable Beds And Mattresses, Bedside Rails And Transfer Benches, Shower Chairs And Stools, Raised Toilet Seats And Toilet Aids, Grab Bars And Non-Slip Mats, Overbed Tables And Chairs, Bath Lifts
3) By Hearing Aids: Behind-The-Ear (Bte) Hearing Aids, In-The-Ear (Ite) Hearing Aids, In-The-Canal (Itc) Hearing Aids, Completely-In-The-Canal (Cic) Hearing Aids, Bone-Anchored Hearing Aids (Baha), Hearing Amplifiers
4) By Vision And Reading Aids: Magnifiers, Reading Glasses And Optical Aids, Electronic Text Readers, Talking Watches And Clocks, Screen Magnification Software And Devices, Braille Learning Tools And Aids, Voice-Activated Assistive Technology For Vision Impairment

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Which Companies Are Leading the Charge in Elderly And Disabled Assistive Devices Market Innovation?
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.

Which Regions Are Leading the Global Elderly And Disabled Assistive Devices Market in Revenue?
North America was the largest region in the elderly and disabled assistive devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the elderly and disabled assistive devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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