Elderly and disabled assistive devices refer to products or equipment designed to assist aged and disabled individuals overcome physical barriers and live independently with enhanced mobility and comfort. These include mobility aids like wheelchairs, walkers and scooters; assistive listening devices like hearing aids and alerting systems; reading& writing aids like magnifiers and adapted computer products. Such assistive devices help fill the gaps between what the body can no longer do and what is needed for daily living.
The Global Elderly And Disabled Assistive Devices Market is estimated to be valued at US$ 28.10 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the Elderly And Disabled Assistive Devices are AI Squared, Drive Medical, GN Resound Group, Invacare, Nordic Capital, Pride Mobility Products Corporation, Siemens Ltd., Sonova Holding AG, Starkey hearing technologies, William Demant Holding A/S, GF Health Products, Inc., Magic Mobility Ltd., MEYRA GmbH, Audina Hearing Instruments, Inc., Handicare Group AB, Enabling Technologies.
Growing Elderly And Disabled Assistive Devices Market Demand is witnessed with rising geriatric population globally afflicted with disabilities. Furthermore, favorable regulations and increasing healthcare expenditure in developing nations have propelled the market growth. The global expansion of elderly and disabled assistive devices market has been remarkable in recent years. Key market players are focusing on emerging nations in Asia Pacific and Latin America through partnerships and acquisitions. Further, online platforms are gaining traction as they provide customized solutions, virtual demonstrations and doorstep delivery of assistive products. Market key trends Technological innovations are a key trend shaping the elderly and disabled assistive devices industry. Products are getting miniaturized with integration of artificial intelligence for improved functionalities. For instance, smart hearing aids and exoskeletons provide enhanced sound quality and mobility support. Further, cloud-based databases and mobile applications allow real-time monitoring of users' health and performance of devices remotely. Such advancements positively impact market growth by addressing unmet needs and improving affordability of assistive solutions.
Porter’s Analysis Threat of new entrants: The entry barriers are relatively high for new entrants due to high research and development cost associated with assistive devices. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and need for assistive devices. Bargaining power of suppliers: Suppliers have moderate to high bargaining power as raw materials used in manufacturing assistive devices are specialized. Threat of new substitutes: Threat from new substitutes is moderate as technology in assistive devices is continuously evolving. Competitive rivalry: Intense competition exists between existing players due to presence of numerous global and regional players. Geographical Regions North America accounts for the largest share in Elderly And Disabled Assistive Devices Market Regional Analysis in terms of value as a result of growing elderly population, high spending power and well developed healthcare infrastructure. Asia Pacific is expected to be the fastest growing region during the forecast period attributed to rising geriatric population, increasing healthcare expenditures and rapid technological advancements in countries like China and India.
Choose your preferred Language for better understanding-
About Author-
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
The Elderly and Disabled Assistive Devices Market was valued at USD 28.96 billion in 2019 and is predicted to reach USD 49.01 billion by 2030 with a CAGR of 4.9% from 2020-2030.The elderly and disabled assistive devices consist of various rehabilitative, adaptive and cognitive devices that aim to provide better quality of life and ensure mobility of elderly and disabled person.
Assistive devices play a crucial role by helping them to live an independent life, participate in education and built careers.Access Full Description of this report at:- https://www.nextmsc.com/report/elderly-disabled-assistive-devices-market Top Companies: AI Squared, Drive Medical, GN Resound Group, Invacare, Nordic Capital (Sunrise Medical LLC), Pride Mobility Products Corporation, Siemens Ltd., Sonova Holding AG, Starkey hearing technologies, William Demant Holding A/S, Bausch & Lomb, Inc., Inclusive Technology Ltd., Liberator Ltd., Tobii Dynavox, Blue Chip Medical Type, Inc., Permobil AB, Medline Industries, Inc and others.The elderly and disabled assistive devices market share has been segmented on the basis of type and geography.
The hearing aids segment is also sub segmented into behind-the-ear aids (BTE), receiver-in-the-ear aids (RITE), in-the ear aids (ITE), bone anchored hearing aids (BAHA), canal hearing aids, cochlear implants.
The reading and vision aids are divided into braille translators, video magnifiers, reading machines and others.
The mobility aids walkers & rollators, canes & walking sticks and crutches, door openers, transfer lifts or patient mechanical lift handling and others.
Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.Request free sample copy of this report at:- https://www.nextmsc.com/Elderly-Disabled-Assistive-Devices-Market/request-sample North America holds the lion share of the elderly and disabled assistive devices market.
The global elderly and disable assistive devices market is predicted to touch US$19,684.9 mn in 2019.
On the basis of type, wheelchairs under medical mobility aids and ambulatory devices, held a dominant share in the market in the past.
This is due to the fact that wheelchairs proved highly beneficial in supporting the aging and disabled population during mobility from one place to another place.
This segment is expected to experience a tremendous rise in the coming years owing to the multiple benefits provided such as sitting comfort and ease of movement.
On the other hand, the segment of cranes and crutches is predicted to hold the most lucrative opportunities in the market in forthcoming years.Elderly and Disabled Assistive Devices Key Market Segments:TypesMedical Mobility Aids and Ambulatory DevicesWheelchairsMobility ScootersCranes and CrutchesWalkers and RollatorsTransfer LiftsDoor OpenersOthers (Cushions, Pillow and Back Support)Request a Report Sample with Toc and figures to click here: http://www.marketgrowthanalysis.com/reports/sample/223Medical Furniture and Bathroom Safety ProductsMedical BedsCommodes & Showers ChairsOstomy ProductsBars and RailingsOthers (Bath lifts and Pool Lifts)Hearing AidsReceiver-in-the-Ear (RITE) AidsBehind-the-Ear (BTE) AidsIn-the–Ear (ITE) AidsCanal Hearing AidsBone Anchored Hearing Aids (BAHA)Cochlear ImplantsVision and Reading AidsVideo MagnifiersBraille TranslatorsReading MachinesOthers (Books and Kitchen Appliances)GeographyNorth AmericaEuropeAsia-PacificRest of the World (RoW)Request for enquiry on This Report at: http://www.marketgrowthanalysis.com/reports/enquiry/223Geographically, the U.S. leads the market owing to the fact that numerous market players are based in the U.S. On the other hand, a number of Asian nations such as China, India, and Japan will be experiencing the most exponential development in the market in the coming years due to the rising disposable incomes and the increasing healthcare reforms in these nations.
The other players (not profiled in the report) include Bausch & Lomb, Inc., Inclusive Technology Ltd., Liberator Ltd., Tobii Dynavox, JABBLA B.V.B.A., Blue Chip Medical Type, Inc., Permobil AB, Medline Industries, Inc., and Whirlpool Corporation.Browse more detail information about this report visit at: http://www.marketgrowthanalysis.com/elderly-and-disabled-assistive-devices-marketAbout Us:Market Growth Analysis is one of the leading digital services provider and a result-oriented company based in Canada.
