Elderly and Disabled Assistive Devices Market
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 such as wheelchairs, canes, crutches, walkers, hearing and visual aids improve the hearing capacity, vision, mobility, or communication of the elderly and disabled people. According to a report published by WHO, around 15% of world’s population live with some kind of disabilities. Assistive devices play a crucial role by helping them to live an independent life, participate in education and built careers.
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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. On the basis of type, the market is divided into living aids, mobility assistive devices, bathroom safety equipment, and medical furniture. Based on living aids, the market is divided into hearing aids and reading & vision aids. 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. The medical furniture segment is also sub segmented into medical beds, door openers, medical furniture accessories, riser reclining chairs and others. The bathroom safety equipment is divided into shower chairs, commodes, ostomy Products, bars, grips, & rails. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.
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North America holds the lion share of the elderly and disabled assistive devices market. This is attributed to factors such as increasing geriatric population, presence of large distribution channels and higher purchasing power of its citizens. Moreover, introduction of technologically advanced products and government emphasis on patient’s safety are factors boosting the market growth in this region. However, Asia Pacific is showing rapid growth in terms of market share during the forecast period due to factors such as improvements in healthcare infrastructure, huge consumer base, introduction of low-cost devices and growing awareness among citizens regarding the usage of assistive devices.
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