Press release
Disabled and Elderly Assistive Technology Market Market Revenues To Grow At Nearly 6.94% From 2025 To 2034
Disabled and Elderly Assistive Technology Market
This market mainly aims at providing independence to the disabled and elderly population who are dependent upon some other individual to carry out their day-to-day activities. These people are highly dependent on the assistance of some other person, which hampers the quality of life they lead. With these devices and technologies in the market, disabled and older people can be provided with independence and confidence to carry out their livelihood.
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➤ Market Size
• The global disabled and elderly assistive technology market was valued at USD 57.67 billion in 2024.
• It is projected to reach USD 61.59 billion in 2025.
• By 2034, the market is estimated to grow to USD 112.76 billion.
• The forecast period 2025-2034 assumes a Compound Annual Growth Rate (CAGR) of approximately 6.94%.
➤ Market Overview
• The market provides assistive devices and technologies designed to support disabled and elderly individuals in carrying out daily activities independently, enhancing their mobility, safety, and quality of life.
• These assistive technologies address challenges faced by elderly persons or people with disabilities, offering aids for mobility, living assistance, medical furniture, bathroom safety, and other supportive devices.
• Growing geriatric population globally and rising incidence of disability increases demand.
• The goal is to provide independence and reduce reliance on caregivers, thereby improving dignity and quality of life for users.
➤ Key Market Growth Drivers
• Growing elderly (geriatric) population worldwide, increasing the base of potential users.
• Rising number of disabilities due to accidents, chronic diseases, and age‐related conditions.
• Government support, healthcare infrastructure improvements, and reimbursement policies enhance affordability and accessibility.
• Technological advancements and innovations resulting in more effective, safer, and user‐friendly devices.
• Increased awareness about the benefits of assistive devices among disabled/elderly individuals and caregivers boosts adoption.
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➤ Analysis of Key Players - Key Player Strategies
• Prominent market players include Sunrise Medical LLC, Starkey Hearing Technologies, GN ReSound Group, Sonova Holding AG, William Demant Holding A/S, among others.
• Companies develop and supply a range of assistive devices: mobility aids, living-assistance devices, medical furniture, bathroom safety devices, hearing aids, and other supportive solutions.
• Strategies include R&D for improved technology, ergonomics, and device safety; expanding product portfolios; and enhancing distribution networks to reach hospitals, home-care users, and assisted living facilities globally.
• Some players focus on affordability and accessibility - aligning with reimbursement policies and government support structures.
➤ Market Challenges & Opportunities
Challenges
• Technical complexity of devices may limit adoption by some elderly or disabled users.
• High cost of assistive technologies can be prohibitive in certain regions.
• Regulatory restrictions and safety standards can slow down product rollout.
• Dependence on reimbursement from insurance or government healthcare policies.
Opportunities
• Rising demand from aging populations worldwide.
• Growing awareness and social acceptance reducing stigma and encouraging adoption.
• Increasing investments from governments and healthcare institutions in elderly care and home-care services.
• Continued innovation in usability, comfort, safety, and cost-effectiveness.
• Expanding end-user segments beyond hospitals - home care, assisted living, nursing homes.
➤ Key Player Strategies
• Diversification: developing a wide range of assistive products (mobility aids, living aids, safety devices, hearing aids, furniture).
• Distribution expansion: targeting hospitals, home-care users, assisted living facilities, and nursing homes globally.
• Investment in R&D to improve usability, comfort, safety, and affordability.
• Collaboration with healthcare providers and inclusion in reimbursement and insurance frameworks.
➤ Recent Developments
• Introduction of RWD‐integrated wheelchair - Invacare Aviva Storm Rx, featuring electronic control - reflecting innovation in mobility-aid devices.
➤ Investment Landscape and ROI Outlook
• Projected growth to USD 112.76 billion by 2034 at a 6.94% CAGR indicates strong long-term investment potential.
• Diverse end-use applications provide multiple revenue streams, reducing dependency on a single segment.
• Innovation and product diversification enable companies to capture varied demand, increasing resilience and ROI potential.
• Growth in emerging markets, rising geriatric population, increasing disability prevalence, and expanding healthcare infrastructure create sustained market demand.
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➤ Market Segmentations
By Device / Service Type
• Mobility aids devices (wheelchairs, walkers, mobility-support devices).
• Living-aids devices (supportive equipment for daily living, home-care aids).
• Medical furniture (beds, recliners, transfer chairs, supportive furniture).
• Bathroom safety devices and other assistive equipment for everyday living.
By End User
• Hospitals - high incidence of accidents, disabilities, and need for institutional care.
• Home care - elderly or disabled individuals living at home, needing long-term assistance.
• Assisted living facilities / Nursing homes - for long-term care and elderly support.
By Region / Geography
• North America - largest market due to high geriatric population, advanced healthcare, and adoption.
• Asia Pacific - fastest-growing region due to rising elderly population, increasing disability prevalence, and improving healthcare infrastructure.
• Other regions (Europe, Middle East & Africa, Latin America) - additional potential based on development and healthcare access.
➤ Why Buy This Report?
• Comprehensive market size estimates and long-term forecasts.
• Detailed competitive landscape and major player profiles.
• Thorough segmentation by device type, end-user, and region.
• Highlights market drivers, challenges, and opportunities.
• Supports stakeholders - manufacturers, healthcare providers, investors, policymakers - in strategic planning and market analysis.
➤ FAQs
Q. What is the current size and forecasted growth of the market?
The market was valued at USD 57.67 billion in 2024, projected to reach USD 112.76 billion by 2034, at a CAGR of 6.94%.
Q. Which device category leads the market?
Mobility aids devices (wheelchairs, walkers, mobility-support tools) lead demand.
Q. Who are the major players?
Sunrise Medical LLC, Starkey Hearing Technologies, GN ReSound Group, Sonova Holding AG, William Demant Holding A/S, among others.
Q. Which regions show the strongest growth?
North America is the largest market; Asia Pacific is the fastest-growing region.
Q. What are the main challenges for market growth?
High cost, complexity for elderly/disabled users, regulatory compliance, and reliance on reimbursement or insurance.
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➤ Conclusion
The disabled and elderly assistive technology market is set for strong growth, rising from USD 57.67 billion in 2024 to USD 112.76 billion by 2034 at a CAGR of 6.94%. Increasing geriatric populations, rising disability prevalence, and growing demand for mobility and independent-living solutions are primary drivers. Mobility aids dominate demand, with hospitals, home-care, and assisted-living facilities driving end-user uptake. Challenges include device cost, usability, and regulatory compliance. However, innovations, government support, and increasing awareness provide significant opportunities. For manufacturers, investors, and healthcare stakeholders, the market offers substantial long-term potential with diverse applications and strong ROI prospects.
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About Custom Market Insights:
Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
CMI is a one-stop solution for data collection and investment advice. Our company's expert analysis digs out essential factors that help us understand the significance and impact of market dynamics. The professional experts advise clients on aspects such as strategies for future estimation, forecasting, opportunities to grow, and consumer surveys.
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